What Is a Cryptocurrency?

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A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to trade items and services through 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 different features corresponding 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 aren’t controlled by the bank, the government and any monetary institution
Are Nameless: 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-transferable codes that only you know
It has no intermediaries: transactions are carried out from individual to individual
Quick transactions: to send money to another country they charge interest and infrequently it takes days to substantiate; with cryptocurrencies only a number of minutes.
Irreversible transactions.
Bitcoins and every other virtual currency might be exchanged for any world currency
It cannot be faked because they’re 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 the moment 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 you could 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 is, you cannot touch any of its kinds as with coins or payments, however you need to use it as a means of payment in the same way as these.

In some international locations you may monetize with an digital debit card page that make cash exchanges with cryptocurrencies like XAPO. In Argentina, for example, we now have more than 200 bitcoin terminals.

Undoubtedly, what makes Bitcoin totally different from traditional currencies and different virtual technique of payment like Amazon Cash, Action Cash, is decentralization. Bitcoin is just not managed by any government, institution or monetary 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, customers by exchanges P2 P (Point to Point or Point to Point). This construction and the lack of management makes it impossible for any creatority to govern its value or cause inflation by producing more quantity. Its production and worth relies on the law of supply and demand. One other interesting detail in Bitcoin has a limit of 21 million coins, which will probably be reached in 2030.

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