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What Is a Cryptocurrency?
A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to trade items and companies by 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 different features corresponding to Litecoin, Ripple, Dogecoin, and others.
What is the advantage?
When evaluating a cryptocurrency with the money within the ticket, the difference is that:
They're decentralized: they don't seem to be controlled by the bank, the federal government and any financial institution
Are Nameless: your privateness is preserved when making transactions
They're International: 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 individual to individual
Quick transactions: to ship cash to another country they cost interest and often 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 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 value of more than a thousand dollars and like stocks, this worth can go up or down the provision and demand.
What is the origin of Bitcoin?
Bitcoin, is the primary 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's, you cannot touch any of its forms as with coins or bills, however you need to use it as a way of payment in the same way as these.
In some countries you may monetize with an electronic debit card web page that make cash exchanges with cryptocurrencies like XAPO. In Argentina, for instance, we've got more than 200 bitcoin terminals.
Undoubtedly, what makes Bitcoin totally different from traditional currencies and other virtual technique of payment like Amazon Cash, Action Coins, is decentralization. Bitcoin shouldn't be managed by any authorities, institution or monetary entity, either state or private, such because the euro, managed 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 construction and the lack of control makes it impossible for any writerity to control its worth or cause inflation by producing more quantity. Its production and value relies on the law of supply and demand. Another interesting element in Bitcoin has a limit of 21 million coins, which will be reached in 2030.
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