Cryptocurrency or cryptocurrency (Saxon cryptocurrency) is a virtual currency that serves to exchange goods and services through an electronic transaction system without going through any intermediaries. The first cryptocurrency to start trading was Bitcoin in 2009, and since then many others have appeared with other features such as Litecoin, Ripple, Dogecoin and others.
What is the advantage?
Here’s the difference when comparing cryptocurrency to money on a ticket:
They are decentralized: they are not controlled by banks, governments or any financial institution
It’s anonymous: your privacy is protected when you make transactions
They are international: everyone has an opera with them
They are safe: your coins are yours and are stored in a private wallet with non-transferable codes known only to you and not to anyone else.
It has no intermediaries: transactions are carried out from 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 is subject to the oldest rule of the market: supply and demand. “It’s worth more than $1,000 right now, 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 issue a new currency.
Its peculiarity is that you can only perform transactions within a network of networks.
Bitcoin refers to both the currency, the protocol, and the red P2P it relies on.
So what is Bitcoin?
Bitcoin is a virtual and intangible currency. That is, you cannot touch any form of it like coins and bills, but you can use it as a means of payment in the same way.
In some countries, you can earn money with an electronic debit card page that exchanges money with cryptocurrencies, such as XAPO. For example, we have more than 200 bitcoin terminals in Argentina.
Undoubtedly, what differentiates Bitcoin from traditional currencies and other virtual means of payment such as Amazon Coins, Action Coins is decentralization. Bitcoin is not controlled by any government, institution or financial institution, public or private, like the euro is controlled by a Central Bank or the dollar is controlled by the US Federal Reserve System.
In Bitcoin, users control real, indirect transactions through P2P (Point to Point or Point to Point) exchanges. This lack of structure and control makes it impossible for any body to manipulate its value or cause inflation by producing more quantities. Its production and value are based on the law of supply and demand. Another interesting detail in Bitcoin is that it has a limit of 21 million coins that will be reached in 2030.
How much is one bitcoin worth?
As we mentioned, the value of Bitcoin is based on supply and demand and is calculated using an algorithm that measures the amount of transactions and transactions with Bitcoin in real time. Currently, the price of Bitcoin is USD 9300 (as of March 11, 2018), although this value is not very stable and Bitcoin is classified as the most volatile currency in the foreign exchange market.