Is bitcoin mortgage legal

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although bitcoin still has great risks, after years of development, with the increase of its application population, application scenarios and application technology, no country or organization can completely eliminate it. If you can figure it out, it is likely that countries will generally accept bitcoin and embrace it

according to my personal judgment, bitcoin, after a period of continuous development, is likely to become a world currency in the future, which can play the role of electronic gold and become the target of the value of other sovereign currencies. From this perspective, bitcoin can be used as a means of asset preservation in the future when inflation is inevitable

2. Whether bitcoin is legal or not depends on the attitude of monetary authorities
the further development of bitcoin may threaten the interests of traditional currencies, and currency issuers will not cede their rights to an open-source P2P algorithm. So governments are likely to outlaw bitcoin
once governments declare it illegal, it may cause huge fluctuations in its price in the short term. It could be a crash, it could be a surge. Because people at the bottom of the world are obviously resistant to their governments< At the same time, the ban by the government will lead to the closure of bitcoin trading platform. After the closing of the trading platform, bitcoin can only be cashed in private, which will have a great impact on its cashing ability< However, e to the characteristics of bitcoin itself, it provides an excellent channel for officials of various countries to accept bribes, launder money and transfer assets overseas. Especially in the trend that officials of various countries disclose their property, bitcoin provides a good way for them to hold huge property anonymously
from this perspective, some officials may actively promote the legalization of bitcoin< On May 7, 2013, officials from the US Commodity Futures Trading Commission (CFTC) said that they were considering whether the online virtual currency "bitcoin" could be applied to the agency's regulations. CFTC is the highest regulator of the derivatives instry in the United States. Bitcoin is known as a currency independent of traditional authority, and if it is regulated more, it may bring challenges to its supporters
CFTC mainly supervises derivatives contracts. Its responsibilities have been greatly expanded after the financial crisis in 2007-2009, and it also has full power to supervise retail foreign exchange dealers
Bart Chilton, one of the five members of the CFTC, said on Monday that he had asked the committee to consider regulating bitcoin to determine whether consumers need additional protection when using bitcoin[ 15]
the Hong Kong government has approved GBL electronic currency trading center to operate virtual currency exchange business, which will be an important milestone in the development of bitcoin. GBL virtual electronic currency trading center has completed the equity change and has the business scope of virtual electronic currency exchange business.

3.

Bitcoin is illegal in China

since September 4, 2017, China has expressed its opposition to the virtual currency exchange. On the market, large-scale exchanges are graally fading out of the domestic market. Some of them are going to Japan and some of them are going to Nanyang. Of course, with the release of new regulations in Hong Kong in early November, we believe that in the future, the virtual currency exchange may obtain a legal license in Hong Kong to serve local institutional investors

extended information:

bitcoin China said that the platform will stop withdrawing cash. So far, bitcoin China has closed all transaction functions. The other two bitcoin trading platforms in China, huocoin.com and okcoin, have also stopped trading all digital assets against RMB

the virtual currency represented by bitcoin has soared, attracting a large number of ordinary people without any technology and investment knowledge to enter this high-risk market

the central bank, together with many ministries and commissions, issued the announcement on preventing the financing risks of token issuance (hereinafter referred to as the announcement), which pointed out that no organization or indivial may engage in the financing activities of token issuance illegally According to the announcement, all kinds of token issuance and financing activities should be stopped immediately from the date of issue

the organizations and indivials that have completed the token issuance financing should make arrangements such as liquidation, reasonably protect the rights and interests of investors, and properly handle the risks. Relevant departments will seriously investigate and deal with the activities of token issuance and financing that refuse to stop and the illegal behaviors in completed token issuance and financing projects

the China Internet Finance Association issued the "tips on preventing the risks of bitcoin and other so-called" virtual currency ", pointing out that bitcoin trading platform is a tool for money laundering, drug trafficking, smuggling, illegal fund-raising and other illegal criminal activities e to the expanding number of stakeholders and strong speculative atmosphere; There is no legal basis for the establishment of various so-called "currency" trading platforms in China

4. There must be fraud in digital currency investment. It's better to find formal institutions to invest, and don't trust high returns.

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6. First, what do you need to know about a mortgage

A: 58coin mortgage loan is a kind of loan method based on digital currency, which requires the borrower to provide a certain amount of digital currency as loan guarantee to guarantee the repayment of the borrowed digital currency and interest at maturity. If the borrower triggers a strong horizontal line, the platform will have the right to dect all digital currencies pledged by the loan

of course, I believe you are also very concerned about the use scenarios of mortgage loans

What are the usage scenarios of mortgage loan<

A: investors already have some digital assets. Under the condition of preserving the existing digital assets:

1. Plan to convert them into capital and carry out capital turnover

2. Try to operate another digital asset

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next, let's go on the 58coin mortgage learning journey< First of all, you need to log in to your 58coin account

note: if you haven't registered yet, remember to click "register" to become a user of 58 stock exchange ~

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2. After logging in the account, click the account at the top right and click "identity authentication" to do primary authentication and advanced authentication in turn. After these preparations are completed, we can officially enter the mortgage process

note: after these certifications are completed, your charging and other operations will be unimpeded ~

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3. Click "mortgage" on the home page to enter the mortgage interface

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4. Then you need to transfer the mortgage assets to the "mortgage account". In the mortgage loan interface, click "transfer in", select the currency you want to mortgage, transfer it from other accounts (recharge withdrawal account, etc.) to "mortgage loan account", enter the amount you want to transfer out, and click "transfer". Take "mortgage BTC loan usdt" as an example

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5. In the mortgage interface, you can see the "maximum loan". Enter the loan amount within this range, select "loan days", and the daily interest rate will be displayed at the bottom synchronously. Click "apply for loan", and your loan application will be submitted successfully. After the loan application is submitted, the mortgage will be frozen, and the review is usually completed within 30 minutes. Click the "loan under review" below to see the relevant information. After the approval, the loan will be transferred to the "mortgage account"

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note:

1) maximum loanable amount = available quantity (mortgage currency) * index price * loan mortgage rate; The index price is taken from the two major exchanges of Huoyuan (30%) and Yuanan (70%), so there is no need to worry about malicious manipulation

2) "loan days" supports five forms: 3 days, 7 days, 30 days, 60 days and perpetual. The daily interest rate fluctuates according to different currencies and loan days. Before exceeding the time limit, the interest shall be calculated according to the overe interest rate“ For details of mortgage rate and daily interest rate, click on the left to view them

3) different loan methods lead to different loan amount. Please check the "notes" below before placing an order

6. After the loan is approved, click "current loan" below to see the loan amount, interest, mortgage rate and other information

at the same time, you need to pay close attention to the risk. When the mortgage rate is greater than or equal to the early warning value (floating e to different currencies), the platform will inform the borrower in the form of SMS to make up the position of collateral or repay the loan in advance. At this time, you can click "increase mortgage" or "repayment" on the right to operate; When the pledge rate is greater than or equal to the flat value (floating e to different currencies), the flat value of the system will be triggered. If you want to view the corresponding operation record, you can click "history"

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note:

1) at present, only full repayment is supported

2) the interest will be calculated from the date when the loan application is approved. Less than one day will be counted as one day. All realized interest and unrealized interest shall be paid when prepaying

3) loans can be freely controlled among various business areas or platforms

7. If you need to repay, please enter the "wallet" in advance, transfer the items to be repaid from other accounts to the "mortgage" account, then enter the mortgage interface, and click "current loan - repayment - confirm repayment" to complete the repayment operation. At the same time, your mortgaged assets will also be unfrozen

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congratulations, you have become an entry-level player of mortgage loan.