What Is a Cryptocurrency?

A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to exchange items and companies by 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 equivalent to Litecoin, Ripple, Dogecoin, and others.

What is the advantage?

When comparing a cryptocurrency with the money in the ticket, the distinction is that:

They’re decentralized: they don’t seem to be managed by the bank, the federal government and any monetary institution

Are Anonymous: your privacy is preserved when making transactions

They’re International: everybody’s opera with them

They’re 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 person to person

Quick transactions: to ship money to another country they cost curiosity and infrequently it takes days to confirm; with cryptocurrencies only a couple of minutes.

Irreversible transactions.

Bitcoins and any other virtual currency may be exchanged for any world currency

It cannot be faked because they are encrypted with a sophisticated cryptographic system

Unlike currencies, the worth of electronic currencies is topic to the oldest rule of the market: provide and demand. “Currently it has a worth of more than a thousand dollars and like stocks, this value can go up or down the availability and demand.

What’s the origin of Bitcoin?

Bitcoin, is the primary cryptocurrency created by Satoshi Nakamoto in 2009. He decided to launch a new currency

Its peculiarity is that you can 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 is Bitcoin?

Bitcoin is a virtual and intangible currency. That’s, you cannot contact any of its forms as with coins or bills, however you can use it as a way of payment in the identical way as these.

In some countries you can monetize with an electronic debit card page that make money exchanges with cryptocurrencies like XAPO. In Argentina, for example, we have now more than 200 bitcoin terminals.

Undoubtedly, what makes Bitcoin completely different from traditional currencies and different virtual means of payment like Amazon Cash, Action Cash, is decentralization. Bitcoin is not controlled by any government, 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 by exchanges P2 P (Point to Point or Point to Point). This structure and the lack of management makes it unimaginable for any authority to govern its worth or cause inflation by producing more quantity. Its production and value is predicated on the law of provide and demand. One other interesting detail in Bitcoin has a limit of 21 million coins, which will be reached in 2030.

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