What Is a Cryptocurrency?

A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to trade goods and services via a system of electronic transactions without having to go through any intermediary. The first cryptocurrency that started trading was Bitcoin in 2009, and since then many others have emerged, with different features reminiscent of Litecoin, Ripple, Dogecoin, and others.

What is the advantage?

When comparing a cryptocurrency with the money within the ticket, the difference is that:

They’re decentralized: they aren’t managed by the bank, the government and any financial institution

Are Anonymous: your privacy is preserved when making transactions

They’re Worldwide: 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 send money to a different country they cost curiosity and infrequently it takes days to confirm; with cryptocurrencies only a few minutes.

Irreversible transactions.

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

It can’t be faked because they are encrypted with a sophisticated cryptographic system

Unlike currencies, the value of electronic currencies is subject to the oldest rule of the market: provide and demand. «At present it has a worth of more than one thousand dollars and like stocks, this value can go up or down the supply and demand.

What’s 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 each 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’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 web 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 totally different from traditional currencies and different virtual technique of payment like Amazon Coins, Action Coins, is decentralization. Bitcoin just isn’t managed by any government, institution or monetary entity, either state or private, such because the euro, controlled 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 via exchanges P2 P (Point to Point or Point to Point). This structure and the lack of management makes it unattainable for any authority to control its worth or cause inflation by producing more quantity. Its production and worth relies on the law of supply and demand. One other interesting element in Bitcoin has a limit of 21 million coins, which will be reached in 2030.

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