Cryptocurrency or cryptocurrency (Saxon cryptocurrency) is a virtual currency used to exchange goods and services through an electronic transaction system without having to go through any intermediary. The first cryptocurrency to start trading was Bitcoin in 2009, and many more have been created since then, with Litecoin, Ripple, Dogecoin and many other features.
What is the advantage?
When it comes to cryptocurrency, the difference is:
They are decentralized: they are not controlled by banks, government and financial institutions
They are anonymous: your privacy is protected when you make transactions
They are international: everyone’s opera with them
They are safe: your coins are yours and are stored in a personal wallet with non-transferable codes that only you know of.
It has no intermediaries: transactions are made from one person to another
Quick transactions: they charge interest on sending money to another country and often need days to confirm it; with cryptocurrencies just minutes away.
Bitcoins and any other virtual currency can be exchanged with any currency in the world
It cannot be falsified because they are encrypted with a sophisticated cryptographic system
Unlike currencies, the value of electronic money depends on the oldest rule of the market: supply and demand. “It currently has a value of over $ 1,000 and, like shares, that value can drive up or down supply and demand.
What is the origin of Bitcoin?
Bitcoin is the first cryptocurrency created in 2009 by Satoshi Nakamoto. He decided to launch a new currency.
Its peculiarity is that you can only perform operations within the network of networks.
Bitcoin refers to currency and protocol and red P2P based.
So what is Bitcoin?
Bitcoin is a virtual and intangible currency. That is, you can’t touch its shape like coins or banknotes, but you can use it as a means of payment like these.
You can earn money in some countries with cryptocurrencies like XAPO to exchange money with an electronic debit card page. In Argentina, for example, we have more than 200 bitcoin terminals.
There is no doubt that decentralization is what differentiates Bitcoin from traditional currencies and other virtual payment channels such as Amazon Coins, Action Coins. Bitcoin is not controlled by any government, institution, or financial institution, not state or private, such as the Central Bank or the US Federal Reserve.
Users are controlled by real Bitcoin transactions through P2 P (Point to Point or Point to Point) exchanges. This structure and lack of control make it impossible for any authority to manipulate its value or cause inflation by producing more quantities. Its production and value are based on the law of supply and demand. Another interesting detail about Bitcoin has a 21 million coin limit, which will reach 2030.
How much does a Bitcoin cost?
As we have noted, the value of Bitcoin is based on supply and demand, and is calculated using an algorithm that measures the number of transactions and transactions with Bitcoin in real time. The price of Bitcoin is currently $ 9,300 (as of March 11, 2018), although this value is not very stable and is classified as an unstable currency in the Bitcoin foreign exchange market.