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What Is a Cryptocurrency?

 

A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to exchange items and providers by a system of electronic transactions without having to go through any intermediary. The primary cryptocurrency that started trading was Bitcoin in 2009, and since then many others have emerged, with other features reminiscent of Litecoin, Ripple, Dogecoin, and others.

 

 

What is the advantage?

 

 

When evaluating a cryptocurrency with the money in the ticket, the difference is that:

 

 

They're decentralized: they aren't controlled by the bank, the federal government and any financial institution

 

Are Anonymous: your privacy is preserved when making transactions

 

They're International: everybody'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 a different country they cost interest and infrequently it takes days to confirm; with cryptocurrencies only a number of minutes.

 

Irreversible transactions.

 

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

 

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

 

Unlike currencies, the worth of electronic currencies is subject to the oldest rule of the market: provide and demand. "Presently it has a price of more than a thousand dollars and like stocks, this value can go up or down the provision 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 which you can 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 can not touch any of its forms as with coins or bills, however you can use it as a means of payment in the same way as these.

 

 

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

 

 

Undoubtedly, what makes Bitcoin completely different from traditional currencies and different virtual means of payment like Amazon Coins, Action Cash, is decentralization. Bitcoin just 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 management the real, indirectly by their transactions, customers through exchanges P2 P (Point to Point or Point to Point). This structure and the lack of management makes it unattainable for any authority to manipulate its value or cause inflation by producing more quantity. Its production and value is based 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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