Cryptocurrency or cryptocurrency (Saxon cryptocurrency) is a virtual currency that serves the exchange of goods and services through an electronic transaction system without any intermediaries. The first cryptocurrency to start trading was Bitcoin in 2009, and since then many others have emerged with other features such as Litecoin, Ripple, Dogecoin and more.
What is the advantage?
The difference when comparing cryptocurrency with ticket money is as follows:
They are decentralized: they are not controlled by the bank, the government or any financial institution
Anonymous: Your privacy is protected during transactions
They are international: everyone’s opera is with them
They are safe: your coins are yours and are kept in a personal wallet with no transferable codes that you know from anyone else.
It has no intermediaries: operations are carried out from person to person
Fast transactions: they charge interest to send money to another country and often take days to confirm; just a few minutes with cryptocurrencies.
Irreversible transactions.
Bitcoins and any other virtual currency can be exchanged for any world currency
This should not be falsified, because they are encrypted by a complex cryptographic system
Unlike currencies, the value of electronic currencies is governed by the oldest rule of the market: supply and demand. “It currently has a value of more than $ 1,000, and like stocks, that value can go up or down in supply and demand.
What is the origin of Bitcoin?
Bitcoin is the first cryptocurrency created in 2009 by Satoshi Nakamoto. He decided to issue a new currency.
Its peculiarity is that you can only perform operations within the network.
Bitcoin belongs 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 forms, such as coins and banknotes, but you can use them as a means of payment in the same way.
In some countries, you can earn money with an electronic debit card page that exchanges money with cryptocurrencies such as XAPO. For example, we have more than 200 bitcoin terminals in Argentina.
Undoubtedly, what distinguishes Bitcoin from traditional currencies and other virtual means of payment such as Amazon Coins and Action Coins is decentralization. Bitcoin is not governed by any government, institution or financial institution, public or private, like the Euro or the US Federal Reserve Dollar, which is managed by the Central Bank.
In Bitcoin, users control their transactions indirectly through P2 P (Point to Point or Point to Point) exchanges. This lack of structure and control makes it impossible for any body to manipulate its value or cause inflation by producing more. Its production and value are based on the law of supply and demand. Another interesting detail in Bitcoin is that it has a limit of 21 million coins, and this limit will be reached in 2030.
How much does a bitcoin cost?
As we mentioned, the value of Bitcoin is based on supply and demand and is calculated using an algorithm that measures the amount of transactions and transactions with Bitcoin in real time. Currently, the price of Bitcoin is $ 9,300 (as of March 11, 2018), although this value is not very stable and Bitcoin is classified as the most volatile currency in the foreign exchange market.