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What Is a Cryptocurrency?
A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to trade goods and services through a system of electronic transactions without having to go through any intermediary. The primary cryptocurrency that started trading was Bitcoin in 2009, and since then many others have emerged, with different options resembling Litecoin, Ripple, Dogecoin, and others.
What is the advantage?
When comparing a cryptocurrency with the money within the ticket, the difference is that:
They're decentralized: they don't seem to be controlled by the bank, the federal government and any monetary institution
Are Nameless: your privateness is preserved when making transactions
They're Worldwide: everybody's opera with them
They are safe: your coins are yours and from nobody else, it is kept in a personal wallet with non-transferable codes that only you know
It has no intermediaries: transactions are carried out from individual to individual
Quick transactions: to ship money to another country they cost curiosity and often it takes days to confirm; with cryptocurrencies only a few minutes.
Irreversible transactions.
Bitcoins and every other virtual currency might be exchanged for any world currency
It cannot be faked because they're encrypted with a sophisticated cryptographic system
Unlike currencies, the value of electronic currencies is topic to the oldest rule of the market: provide and demand. "At the moment it has a value of more than 1000 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 that you would be able to only carry out operations within the network of networks.
Bitcoin refers to each 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's, you can't touch any of its forms as with coins or payments, but you need to use 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, now we have more than 200 bitcoin terminals.
Undoubtedly, what makes Bitcoin different from traditional currencies and different virtual technique of payment like Amazon Cash, Action Coins, is decentralization. Bitcoin is not managed by any authorities, institution or financial entity, either state or private, such as the euro, controlled by the Central Bank or the Dollar by the Federal Reserve of the United States.
In Bitcoin management the real, indirectly by their transactions, customers by means of exchanges P2 P (Point to Point or Point to Point). This structure and the lack of control makes it not possible for any writerity to manipulate its value or cause inflation by producing more quantity. Its production and worth relies on the law of supply and demand. One other interesting element in Bitcoin has a limit of 21 million coins, which might be reached in 2030.
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