What Is a Cryptocurrency?

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Your cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a exclusive currency that serves to exchange goods and services through a system of electrical transactions without having to go through any intermediary. The first cryptocurrency of which started trading was Bitcoin in 2009, and since then other have emerged, with other features such as Litecoin, Ripple, Dogecoin, and others.

What is the advantage?

When comparing a cryptocurrency with the currency the ticket, the difference is that:

  • They are decentralized: they are not controlled solely by the bank, the government and any financial institution
  • Are Anonymous: your individual privacy is preserved when making transactions
  • They’re International: take pride of place opera with them
  • They are safe: your coins are your own house and from nobody else, it is kept in a own wallet with nontransferable codes that only you know
  • It has virtually no intermediaries: transactions are carried out from person to person
  • Quick transactions: to deliver money to another country they charge interest and often it takes days to weeks to confirm; with cryptocurrencies only a few minutes.
  • Irreversible transactions.
  • Bitcoins and any other virtual currency can be exchanged for any earth currency
  • It can not be faked because they are encrypted with a innovative cryptographic system
  • Unlike currencies, the value of electronic currencies can be subject to the oldest rule of the market: supply together with demand. “Currently it has a value of more than 1000 dollars and like stocks, this value can go up or down the availability and demand.

What is the origin of Bitcoin?

Bitcoin, is definitely the first cryptocurrency created by Satoshi Nakamoto in 2009. He thought to launch a new currency

Its peculiarity is that you can only accomplish operations within the network of networks.

Bitcoin refers to the actual currency and the protocol and the red P2P on which them relies.

So , what is Bitcoin?

Bitcoin is a virtual as well as intangible currency. That is, you can not touch any of its styles as with coins or bills, but you can use it as a means with payment in the same way as these.

In some countries you can monetize through an electronic debit card page that make money exchanges by using cryptocurrencies like XAPO. In Argentina, for example , we have much more than 200 bitcoin terminals.

Undoubtedly, what makes Bitcoin different from common currencies and other virtual means of payment like Amazon Loose change, Action Coins, is decentralization. Bitcoin is not controlled simply by any government, institution or financial entity, either assert or private, such as the euro, controlled by the Central Bank and also the Dollar by the Federal Reserve of the United States.

In Bitcoin deal with the real, indirectly by their transactions, users through geneva chamonix transfers P2 P (Point to Point or Point to Point). This structure and the lack of control makes it impossible for virtually every authority to manipulate its value or cause inflation by simply producing more quantity. Its production and value uses the law of supply and demand. Another interesting element in Bitcoin has a limit of 21 million loose change, which will be reached in 2030.