Bitcoin on an international scale has hardly got the recognition it deserves. While some countries have regulated it most have simply turned a blind eye to the ever growing market. However Europe has taken a dramatically different stance and Luxemburg in particular which has granted its first ever licence for the operation of a Bitcoin exchange to BitStamp.
This has come as welcome news for many, as the obscure nature of Bitcoin itself deterred many from taking the plunge and exploring the various benefits the currency has to offer. The licence granted by Luxembourg is applicable to all EU states as Luxemburg has full EU membership. This not only gives added security to you the consumer as your rights will now be recognized as the exchange has effectively become a financial institution in the eyes of the government. Among the likes of Amazon and eBay, BitStamp has now joined the ranks and this licence now seals an approved and secure service for people to use.
Effective Tuesday, 26th of April all EUR deposits received will be credited directly to EUR account balance. Trading will start same day at 1:00 PM CEST. To protect our clients ask/bid orders overlapping on launch day will be removed prior to launching the order book.
Bitcoin’s potential as a remittance medium has now been widened thanks to the license awarded to BitStamp. Now you can easily buy and sell Bitcoin in Europe and send it to Nigeria at minimal cost. With services like NairaEX Bitcoin remittances are made within hours and even fiat transfers can be sent via Bitcoin as the service also allows for the receiver to sell Bitcoin and receive Naira in their bank account in a matter of days.
To conclude the licensing of BitStamp has helped to open up many new doors to trade Bitcoin on a global scale. With Europe embracing Bitcoin it may only be a matter of time till African nations also realize the potential of Bitcoin not only as a replacement for fiat but a currency of the future.