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What Is a Cryptocurrency?
A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to alternate goods and providers by means of 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 other options reminiscent of Litecoin, Ripple, Dogecoin, and others.
What's the advantage?
When evaluating a cryptocurrency with the cash within the ticket, the distinction is that:
They're decentralized: they don't seem to be managed by the bank, the government and any financial institution
Are Anonymous: your privateness 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 interest and sometimes it takes days to confirm; with cryptocurrencies only a few minutes.
Irreversible transactions.
Bitcoins and another virtual currency could 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. "Currently it has a value of more than 1000 dollars and like stocks, this value can go up or down the availability and demand.
What is the origin of Bitcoin?
Bitcoin, is the primary cryptocurrency created by Satoshi Nakamoto in 2009. He determined to launch a new currency
Its peculiarity is which 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 is, you cannot contact any of its forms as with coins or bills, but you can use it as a method of payment in the same way as these.
In some countries you can monetize with an digital debit card web page that make money exchanges with cryptocurrencies like XAPO. In Argentina, for example, we've got 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 will not be controlled by any government, institution or financial 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 through exchanges P2 P (Point to Point or Point to Point). This construction and the lack of management makes it impossible for any authority to control its worth or cause inflation by producing more quantity. Its production and value relies on the law of provide and demand. One other attention-grabbing element in Bitcoin has a limit of 21 million coins, which will be reached in 2030.
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