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What Is a Cryptocurrency?
A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to alternate items and providers via a system of digital transactions without having to undergo any intermediary. The first cryptocurrency that started trading was Bitcoin in 2009, and since then many others have emerged, with other options akin to Litecoin, Ripple, Dogecoin, and others.
What is the advantage?
When comparing a cryptocurrency with the money within the ticket, the distinction is that:
They're decentralized: they are not managed by the bank, the federal government and any monetary institution
Are Anonymous: your privacy 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-transferable 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 charge interest and often it takes days to confirm; with cryptocurrencies only a few minutes.
Irreversible transactions.
Bitcoins and any other virtual currency might 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: supply and demand. "At the moment it has a price of more than 1000 dollars and like stocks, this value can go up or down the supply and demand.
What's the origin of Bitcoin?
Bitcoin, is the first cryptocurrency created by Satoshi Nakamoto in 2009. He determined to launch a new currency
Its peculiarity is that you may only perform operations within the network of networks.
Bitcoin refers to each 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 can use it as a way of payment in the same way as these.
In some nations you'll be able to monetize with an electronic debit card web page that make cash exchanges with cryptocurrencies like XAPO. In Argentina, for instance, we have now more than 200 bitcoin terminals.
Undoubtedly, what makes Bitcoin different from traditional currencies and other virtual means of payment like Amazon Coins, Action Coins, is decentralization. Bitcoin will not be managed by any government, institution or monetary entity, either state or private, such as 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 through exchanges P2 P (Point to Point or Point to Point). This structure and the lack of management makes it impossible for any writerity to govern its value or cause inflation by producing more quantity. Its production and value is based on the law of supply and demand. Another fascinating detail in Bitcoin has a limit of 21 million coins, which will be reached in 2030.
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