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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 companies via a system of digital transactions without having to undergo any intermediary. The primary cryptocurrency that started trading was Bitcoin in 2009, and since then many others have emerged, with other features reminiscent of Litecoin, Ripple, Dogecoin, and others.
What is the advantage?
When comparing a cryptocurrency with the money within the ticket, the difference is that:
They are decentralized: they don't seem to be managed by the bank, the federal government and any monetary institution
Are Nameless: your privacy is preserved when making transactions
They're Worldwide: 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 person to person
Quick transactions: to send cash to a different country they charge curiosity and sometimes it takes days to confirm; with cryptocurrencies only a couple of minutes.
Irreversible transactions.
Bitcoins and every other virtual currency could be exchanged for any world currency
It cannot be faked because they are encrypted with a sophisticated cryptographic system
Unlike currencies, the value of electronic currencies is subject to the oldest rule of the market: supply 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 supply 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 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 is Bitcoin?
Bitcoin is a virtual and intangible currency. That's, you can't touch any of its forms as with coins or bills, but you should utilize it as a means of payment in the identical way as these.
In some countries you may monetize with an electronic debit card page that make money exchanges with cryptocurrencies like XAPO. In Argentina, for instance, we have more than 200 bitcoin terminals.
Undoubtedly, what makes Bitcoin different from traditional currencies and other virtual technique of payment like Amazon Cash, Action Coins, is decentralization. Bitcoin shouldn't be controlled by any government, institution or monetary entity, either state or private, such as the euro, controlled by the Central Bank or the Greenback 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 control makes it impossible for any writerity to manipulate its value or cause inflation by producing more quantity. Its production and worth is based on the law of supply and demand. Another interesting detail in Bitcoin has a limit of 21 million coins, which will be reached in 2030.
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