Laura How do you cash out?
You cash them out at exchange services, usually your wallet provider can do that... some people, like me, also have a registration at a stock market where we can trade cryprocurrencies and directly exchange them.
Daniil But for legal things I prefer legal money. Legal money provide payment documents and etc
Bitcoin itself is not illigal, many people just use it to hide money fro mthe tax office, because it has very high security and anonymity standards. That's also the reason why you pay with them in the darknet.
It doesn't matter which currency you pay with, you always get payment ducuments and so on. In deed, there asre also more digital € notations on bank accounts as there is cash.
That's true, some cuntries wanted to prohibit bitcoin, but I haven't heard of them acrually doing it (I might also not be up to date because I stopped trading bitcoin)
Renita Bitcoins have no jurisdiction
Bitcoin is not registered as an official currency by many countries because this registration would obligate anyone who lives in this country to accept the currency as payment. They don't want to do it because the EU and each other nation already has their own currency that is supervised by the national bank to preven it from crashing and having strong changes in value.
Megan Then store the bar codes on a hard paper wallet or a safe, or I don't know engrave the private keys onto some metal or memorize them or something.
Yes, there are many variations of wallets. The classical digital wallet hosted on a server where you have an online account, the software-wallet based on a program or app you downloas on your cellphone or notebook and the hardwallet, a wallet safed on a usb drive or electronical card. Some peopke also wanted to create a paper wallet ehere the currency is encrypted in a visual code that's printed on a sheet of paper - but I think they failed.
Privacy coins is acategory of cryptocurtencies that are fully anonymous. Bitcoin for example used to be anonymous and a so-called privacy coin, but since they got inegrated into common payment systems it lost anonymity and became pseudonymous, thst means that you are not anonym anymore but have a digital pseudonyme.
Bitcoin SV (BSV) for exampme is a privacy coin, I guess.
Laura Where do they send it to?
On you wallet (digital bank account)