A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to trade goods and providers through a system of electronic transactions without having to undergo any intermediary. The first cryptocurrency that started trading was Bitcoin in 2009, and since then many others have emerged, with other options corresponding to Litecoin, Ripple, Dogecoin, and others.
What’s the advantage?
When comparing a cryptocurrency with the money within the ticket, the distinction is that:
They are decentralized: they are not managed by the bank, the government and any monetary institution
Are Anonymous: your privacy is preserved when making transactions
They’re Worldwide: everyone’s opera with them
They are safe: your coins are yours and from nobody else, it is kept in a personal wallet with non-switchable codes that only you know
It has no intermediaries: transactions are carried out from individual to individual
Quick transactions: to ship cash to another country they cost interest and often it takes days to confirm; with cryptocurrencies only just a few minutes.
Irreversible transactions.
Bitcoins and some other virtual currency will be exchanged for any world currency
It cannot be faked because they are encrypted with a sophisticated cryptographic system
Unlike currencies, the value of digital currencies is subject to the oldest rule of the market: provide and demand. “Presently it has a worth of more than one thousand dollars and like stocks, this worth can go up or down the provision and demand.
What is the origin of Bitcoin?
Bitcoin, is the first cryptocurrency created by Satoshi Nakamoto in 2009. He decided to launch a new currency
Its peculiarity is that you would be able to only perform operations within the network of networks.
Bitcoin refers to both the currency and the protocol and the red P2P on which it relies.
So, what’s Bitcoin?
Bitcoin is a virtual and intangible currency. That is, you can’t contact any of its forms as with coins or bills, however you should use it as a method of payment in the identical way as these.
In some countries you can monetize with an digital debit card page that make money exchanges with cryptocurrencies like XAPO. In Argentina, for instance, we’ve got more than 200 bitcoin terminals.
Undoubtedly, what makes Bitcoin totally different from traditional currencies and other virtual means of payment like Amazon Coins, Action Coins, is decentralization. Bitcoin isn’t controlled by any authorities, institution or financial entity, either state or private, such because the euro, managed by the Central Bank or the Dollar by the Federal Reserve of the United States.
In Bitcoin control the real, indirectly by their transactions, users through exchanges P2 P (Point to Point or Point to Point). This structure and the lack of control makes it unimaginable for any creatority to control its worth or cause inflation by producing more quantity. Its production and worth is based on the law of provide and demand. One other fascinating element in Bitcoin has a limit of 21 million coins, which will be reached in 2030.
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