Digital currencies have gained many fans in today’s advanced world. Until a few years ago, no one had any information in this field and even explaining it was difficult for some people. But today, there is hardly anyone who is not familiar with digital currencies. But are these currencies suitable for transactions such as buying a villa, house or car? In this article, we intend to answer this question and examine this issue.
Definition of digital currency
Digital currency or Cryptocurrency, which is also called cryptocurrency in Persian, is a type of digital currency. But its difference from other currencies is that it does not exist externally and can only be used in virtual and digital space. In fact, digital currencies do not exist in physical and tangible form. It may seem very complicated at first, but we must say that it is not like that at all. Cryptocurrencies have different types, each of which is used for a specific purpose. But Bitcoin is called the king of digital currencies because it has more fans and has certain advantages over other digital currencies.
Digital currency, legal or illegal?
For years, digital currencies have been used in large and advanced countries such as America, and there are specific rules for them. But in Iran, there is still no specific law for this type of currency. But the authorities have announced that the mining of digital currencies is not illegal and permission must be obtained from the Ministry of Industry, Mines and Trade. If you get a license, there will be no problem to extract it. According to the second article of the General Punishment Law, which is mentioned in it, nothing can be considered a crime unless it is prescribed by law for educational measures or punishment. Therefore, according to the law, and considering that the use of digital currencies in transactions is not criminalized, their use is not illegal. And they can be used in buying and selling transactions.
The advantage of cryptocurrencies
By comparing digital currencies with physical currencies and current money, we find that digital currencies have special advantages. One of their advantages is untraceable blockchain service. This means that the movement of these currencies can be done without any follow-up and tracking, and they have a very high level of security in this field. Even the institution or organization that created them cannot be identified. Another advantage of them is that they cannot be sanctioned. Today, many countries are using digital currencies in their economic cycle and no other country is able to sanction it. that this advantage can be appropriate in our country and considering the economic sanctions of America. Another advantage of digital currencies is their ease of use. If you make a heavy transaction, you will definitely be involved in banking and tax procedures. And a lot of paperwork is required. But this is not the case with cryptocurrencies. You can easily transfer large sums of money with your mobile phone without even going to the bank or paying a lot of taxes. Ease of transportation is an important point that should be considered. Another advantage of digital currencies is their ability to invest. Due to the increase in fans and buyers of these currencies, they are growing. Therefore, it is a good choice for large investments. Also, because it is digital, it is easier to maintain them. Because there is no chance of it being stolen and you will have peace of mind.
Disadvantages of digital currency
With the positive features that we have said about cryptocurrencies, we must note that they also have disadvantages. One of the disadvantages is that if you forget your password, you will have no way to access your wallet. And it is not possible to recover it in any way, and the possibility of losing capital in this way is possible. Another negative point is that it is not possible to change the information of digital currencies. This means that if for any reason you transfer the digital currency to the wrong person’s account, you cannot get it back. Due to the fact that there are no administrative and banking procedures for it, it is not possible to track the transferred currency. Another negative point that should be noted is that the price fluctuations in these types of currencies are high and there is no guarantee of their profit or loss. Therefore, you may lose your capital as the prices fluctuate.
Using digital currency in transactions
The more digital currencies become known, the more widespread their use becomes. Today, people have more information in this field and use it more. As we mentioned in the previous section, moving and transferring cryptocurrencies is very easy. For this reason, in transactions that have huge amounts and may have many administrative and tax routes, using digital currency will be a more appropriate option. In Iran, according to the laws of the Central Bank and other relevant organizations, there is no obstacle for the exchange of cryptocurrency in real estate transactions. One of the uses of digital currency is buying a wooden villa. To buy a villa in the north of the country or in the north of Tehran, you can easily pay with digital currency and complete your transaction. Due to the security of these currencies, you will not have any problems in terms of security. To transfer digital currency in the transaction, you can enter the recipient’s information and transfer after confirming them. Or make this process faster by scanning the QR code. You can even easily transfer the required amount of digital currency by using the NFC method and placing two phones together and complete your transaction.
Conclusion
With the increasing use of cryptocurrencies in transactions, we should know some points about them. In this article, we tried to mention their advantages and disadvantages. We also need to know legally whether their use is allowed or not. Therefore, during these materials, we found that the use of digital currencies in transactions does not have any legal obstacles. You can exchange digital currency for real estate transactions or car purchases. Because it does not need to go through banking and tax procedures and you can transfer it easily and in a short time. You can even use digital currencies to buy prefabricated houses in different regions.