A cryptocurrency or cryptocurrency (Saxon’s cryptocurrency) is a virtual currency that serves to exchange goods and services through an electronic transaction system without any intermediaries. The first cryptocurrency to start trading was Bitcoin in 2009 and many more have been launched since then, along with other features such as Litcoin, Ripple, Dezekin and others.
What are the benefits?
The difference between comparing a cryptocurrency with ticket money is:
They are decentralized: they are not regulated by banks, government or any financial institution
Anonymous: Your privacy is protected when making transactions
They are international: everyone’s opera with them
These are safe: your coins are kept in a personal wallet with a code that can be transferred from you and someone else that only you know
It has no intermediaries: transactions are conducted from person to person
Fast transactions: They charge interest on remittances to other countries and often take a few days to confirm; A few minutes with cryptocurrency.
Bitcoins and any other virtual currency can be exchanged for any world currency
It cannot be duplicated because it is encrypted with a sophisticated cryptographic system.
In contrast to currency, the value of electronic coins is subject to the oldest rules of the market: supply and demand. “Currently it is worth more than 1000 1000 and like stock, this value supply or demand can go up or down.
What is the source of Bitcoin?
Bitcoin is the first cryptocurrency created by Satoshi Nakamoto in 2009. He decided to launch a new currency.
Its specialty is that you can only operate within the network of the network.
Bitcoin refers to both the currency and the protocol and the red P2P on which it depends.
So, what is Bitcoin?
Bitcoin is a virtual and indomitable currency. This means you can’t touch any of its forms like coins or bills, but you can use it as a way to pay in the same way.
In some countries you can cash in on an electronic debit card page that exchanges money with cryptocurrencies like XAPO. For example, we have more than 200 bitcoin terminals in Argentina.
Undoubtedly, decentralization distinguishes Bitcoin from traditional thematic currencies and other virtual payments such as Amazon Coins, Action Coins. Bitcoin is not controlled by any government, institution or financial entity, state or private, like the euro, controlled by the US Federal Reserve, the central bank or the dollar.
Take real control over Bitcoin, indirectly through their transactions users get through P2P (point to point or point to point) exchange. This lack of structure and control makes it impossible for any authority to manipulate its quantity or produce too much to create inflation. Its production and quality are based on the law of supply and demand. Another interesting detail in Bitcoin is the limit of 21 million coins, which will reach 2030.
How much does a bitcoin cost?
As we mentioned, the value of Bitcoin is based on supply and demand and is calculated using an algorithm that measures transactions and the amount of transactions with Bitcoin in real time. Bitcoin is currently priced at US 9 9,300 (March 11, 2018), although this value is not very stable and Bitcoin is classified as the most volatile currency in the foreign exchange market.