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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 services by means of a system of digital transactions without having to go through any intermediary. The primary cryptocurrency that started trading was Bitcoin in 2009, and since then many others have emerged, with other features corresponding to Litecoin, Ripple, Dogecoin, and others.
What's the advantage?
When evaluating a cryptocurrency with the money in the ticket, the difference is that:
They're decentralized: they aren't controlled by the bank, the government and any monetary institution
Are Nameless: your privateness is preserved when making transactions
They're Worldwide: everyone's opera with them
They are 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 cash to a different country they cost interest and often it takes days to confirm; with cryptocurrencies only a couple of minutes.
Irreversible transactions.
Bitcoins and any other virtual currency can be exchanged for any world currency
It can not be faked because they're 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 present it has a price of more than a thousand 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 decided to launch a new currency
Its peculiarity is that you would be able to 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 can't touch any of its forms as with coins or bills, but you need to use it as a method of payment in the same way as these.
In some countries you may monetize with an digital debit card web page that make cash exchanges with cryptocurrencies like XAPO. In Argentina, for example, we now have more than 200 bitcoin terminals.
Undoubtedly, what makes Bitcoin different from traditional currencies and other virtual means of payment like Amazon Coins, Action Cash, is decentralization. Bitcoin isn't controlled by any government, 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 management the real, indirectly by their transactions, customers by way of exchanges P2 P (Point to Point or Point to Point). This structure and the lack of control makes it not possible for any creatority to control its value or cause inflation by producing more quantity. Its production and worth relies on the law of provide and demand. One other fascinating element in Bitcoin has a limit of 21 million coins, which will be reached in 2030.
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