Spending Bitcoin in Switzerland is becoming easier as more areas started to adopt cryptocurrency payments. In some cities, like Zurich and Geneva, many restaurants and luxury boutiques accept, for instance, Bitcoin. In Lugano, the largest city in the Italian-speaking region of southern Switzerland, Bitcoin is even considered legal tender as of lately.
How to spend and store Bitcoin in Switzerland?
Public
Metaverse
Author: Tara Nedeljkovic
Category:
Fiscal subject related
Views:
130
Content accuracy validation date:
30.08.2024
Content accuracy validation time:
08:10h
Across Switzerland, certain online merchants and service providers also accept Bitcoin and other cryptocurrencies. Additionally, there are many services available to help in converting between fiat currency and crypto-currencies. The country is home to a large number of Bitcoin ATMs, making it simple to exchange Bitcoin for Swiss francs and vice versa. Switzerland's supportive stance on digital currencies provides Bitcoin holders with various options for buying and using cryptocurrencies.
Storing Bitcoin securely is crucial to protect against theft, hacking, and various scams. Keeping your assets on exchanges can expose them to hacking risks, even if you spread them across multiple exchanges. So-called hot wallets, which are connected to the internet, are always vulnerable to hackers. For better security, consider using cold wallets, which are physical devices like USB drives or paper wallets that are not connected to the internet (also known as hardware wallets). This offline storage method offers greater protection against online threats and is a preferred choice for long-term storage of cryptocurrency assets in recent times as a recommended method of keeping owned cryptocurrencies safer.
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