A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to change items and companies by way of a system of electronic 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 different features resembling Litecoin, Ripple, Dogecoin, and others.
What is the advantage?
When comparing a cryptocurrency with the cash in the ticket, the difference is that:
They are decentralized: they are not managed by the bank, the federal government and any monetary institution
Are Nameless: your privateness 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-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 charge interest and infrequently 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 can not be faked because they’re encrypted with a sophisticated cryptographic system
Unlike currencies, the value of digital currencies is subject to the oldest rule of the market: supply and demand. “Currently it has a worth of more than 1000 dollars and like stocks, this worth can go up or down the provision and demand.
What is 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 can 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 contact 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 may monetize with an electronic debit card web page that make money exchanges with cryptocurrencies like XAPO. In Argentina, for example, we have now more than 200 bitcoin terminals.
Undoubtedly, what makes Bitcoin totally different from traditional currencies and other virtual technique of payment like Amazon Coins, Action Cash, is decentralization. Bitcoin just isn’t controlled 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 management the real, indirectly by their transactions, users by means of exchanges P2 P (Point to Point or Point to Point). This structure and the lack of control makes it inconceivable for any authority to control its value or cause inflation by producing more quantity. Its production and value relies 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.