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What Is a Cryptocurrency?
A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to exchange goods and providers by a system of digital 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 resembling Litecoin, Ripple, Dogecoin, and others.
What's the advantage?
When comparing 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 monetary institution
Are Nameless: 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 ship cash to another country they cost interest and infrequently it takes days to confirm; with cryptocurrencies only a couple of minutes.
Irreversible transactions.
Bitcoins and another virtual currency can be exchanged for any world currency
It cannot be faked because they are encrypted with a sophisticated cryptographic system
Unlike currencies, the worth of digital currencies is topic to the oldest rule of the market: provide and demand. "At the moment it has a worth 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 that 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's Bitcoin?
Bitcoin is a virtual and intangible currency. That is, you can not touch any of its forms as with coins or bills, but you need to use it as a way of payment in the identical way as these.
In some countries you may 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 other virtual technique of payment like Amazon Coins, Action Cash, is decentralization. Bitcoin shouldn't be controlled by any authorities, institution or monetary entity, either state or private, such as 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 by exchanges P2 P (Point to Point or Point to Point). This structure and the lack of management makes it impossible for any writerity to manipulate its worth or cause inflation by producing more quantity. Its production and value is based on the law of provide and demand. Another fascinating element in Bitcoin has a limit of 21 million coins, which will be reached in 2030.
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