What Is a Cryptocurrency?

A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to alternate goods and providers by means of 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 equivalent to Litecoin, Ripple, Dogecoin, and others.

What’s the advantage?

When comparing a cryptocurrency with the money in the ticket, the distinction is that:

They are decentralized: they aren’t managed by the bank, the government and any financial institution

Are Anonymous: 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 person to person

Quick transactions: to ship cash to a different country they cost interest and sometimes it takes days to confirm; with cryptocurrencies only just a few minutes.

Irreversible transactions.

Bitcoins and another virtual currency could be exchanged for any world currency

It cannot be faked because they’re encrypted with a sophisticated cryptographic system

Unlike currencies, the value of digital currencies is topic to the oldest rule of the market: supply and demand. “At present it has a value of more than one thousand dollars and like stocks, this worth 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 decided to launch a new currency

Its peculiarity is you can 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 is, you can not touch any of its forms as with coins or bills, but you should utilize it as a way of payment in the same way as these.

In some countries you may monetize with an electronic debit card 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 totally different from traditional currencies and different virtual means of payment like Amazon Coins, Action Cash, is decentralization. Bitcoin shouldn’t be managed by any authorities, 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 by way of exchanges P2 P (Point to Point or Point to Point). This construction and the lack of control makes it impossible for any writerity to manipulate its worth or cause inflation by producing more quantity. Its production and worth is predicated on the law of provide and demand. Another interesting detail in Bitcoin has a limit of 21 million coins, which will be reached in 2030.

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