Cryptocurrency or cryptocurrency (Saxon cryptocurrency) is a virtual currency that serves to exchange goods and services through a system of electronic transactions without having to go through an intermediary. The first cryptocurrency to be traded was Bitcoin in 2009 and since then many others have emerged with other features such as Litecoin, Ripple, Dogecoin and others.
What is the advantage?
When you compare cryptocurrency to the money in the ticket, the difference is that:
They are decentralized: they are not controlled by the bank, government or any financial institution
Are anonymous: Your privacy is preserved when making transactions
They are international: everyone operates with them
They’re safe: your coins are yours and no one else’s, stored in a private wallet with non-transferable codes that only you know
It has no intermediaries: transactions are done person to person
Fast transactions: to send money to another country, they charge interest and often take days to confirm; with cryptocurrencies in just a few minutes.
Bitcoins and any other virtual currency can be exchanged for any world currency
They cannot be forged because they are encrypted with a complex cryptographic system
Unlike currencies, the value of electronic currencies obeys the oldest rule of the market: supply and demand. “It is currently worth over $1,000 and like stocks, that value can go up or down with supply and demand.
What is the origin of Bitcoin?
Bitcoin is the first cryptocurrency created by Satoshi Nakamoto in 2009. He decided to launch a new currency
Its feature is that you can perform operations only on the network of networks.
Bitcoin refers to both the currency and the protocol and red P2P it relies on.
So what is Bitcoin?
Bitcoin is a virtual and intangible currency. That is, you cannot touch any of its forms, as with coins or banknotes, but you can use it as a means of payment in the same way as these.
In some countries, you can monetize with an e-debit card page that exchanges money with cryptocurrencies like XAPO. In Argentina, for example, we have 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 is not controlled by any government, institution or financial entity, whether public or private, such as the Euro controlled by the Central Bank or the dollar by the United States Federal Reserve.
Bitcoin actually controls, indirectly through their transactions, users through P2 P (point-to-point or peer-to-peer) exchanges. This structure and lack of control make it impossible for any body to manipulate its value or cause inflation by producing more quantity. Its production and value are based on the law of supply and demand. Another interesting detail in Bitcoin is the 21 million coin limit that will be reached in 2030.
How much is a bitcoin worth?
As we stated, the value of Bitcoin is based on supply and demand and is calculated using an algorithm that measures the amount of transactions and Bitcoin transactions in real time. Currently, the price of Bitcoin is 9300 USD (as of March 11, 2018), although this value is not much less stable, and Bitcoin is classified as the most volatile currency in the foreign exchange market.