Is Bitcoin Doubler Legit in Bangladesh?

Bitcoin with its principles of decentralization and independence on any government stays on the top of financial popularity and goes on spreading around the world. As a result, even inhabitants of countries with very strict cryptocurrency policy have not left attempts to participate on the cryptocurrency market. Bitcoin doubling is the most profitable means of investing in the first cryptocurrency. Before using Bitcoin doublers in Bangladesh, you should know the situation with digital currencies in the country.

Is Bitcoin Doubler Legit in Bangladesh?
Is Bitcoin Doubler Legit in Bangladesh

Bitcoin VS Bangladesh Government

Bangladesh is one of those countries, who does its best to drive Bitcoin out of the country.

In 2014, Bangladeshi government made any transaction with digital currency illegal. Then Bangladesh Bank announced that “anybody caught using the virtual currency could be jailed under the country’s strict anti-money laundering laws”.

In 2017, Bangladeshi central bank released a cautionary warning titled “Caution on Bitcoin Transaction: Warning against online transactions in Cryptocurrency (e.g. Bitcoin, Litecoin)”. The bank said, “As these are not legal tenders issued by any legal authorities of the country, no one can make any financial claim against these.”

Strict restrictions against all the cryptocurrencies are reasoned by Money Laundering Prevention Act 2012. Also, the government warns people that Bitcoin and altcoins are used for financing criminal & terroristic activity.

In such a way, since 2014 all financial processors in Bangladesh are prohibited to operate with any kind of digital asset. And the government actively deters citizens from virtual currencies usage.

Despite such an unfriendly situation with Bitcoin and altcoins in Bangladesh, crypto life still exists in the country. Local Bitcoin Bangladesh continues providing its services form hiding; peer to peer (P2P) platform Paxful offers the Bangladeshis almost 300 direct payment options for trading digital currencies; a Facebook page called “Bitcoin Exchange: Bitcoin Buy and sell Bangladesh” has been created to provide support to new crypto traders.

Can I Double my Bitcoin in Bangladesh?

According to Wikipedia`s article “Legality of bitcoin by country or territory”, Bitcoin in Bangladesh is legal, but with banking ban. Bitcoin doublers are not officially legit in the country, but you still can double your BTC with the help of LocalBitcoins and Paxful services.

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