A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to exchange products and services through a system of electronic transactions that does not have to go through any intermediary. The first cryptocurrency to start trading was Bitcoin in 2009, and since then many others have come along, along with other components such as Litecoin, Ripple, Dogecoin, and others.
What is the advantage?
When comparing a cryptocurrency to ticket money, the difference is:
They are decentralized: they are not controlled by the bank, the government and any financial institution
Does not indicate: your preservation is preserved in your transactions
They are international: with each other’s opera
They are safe: your coins are yours and from others, they are kept in your own wallet with immovable codes that only you know
It has no intermediaries: transactions are carried out from one person to another
Easy transactions: to send money to another country they charge interest and it often takes several days to confirm; with cryptocurrencies just a few minutes.
Transactions are irreversible.
Bitcoin and any other virtual currency can be exchanged for any currency in the world
It cannot be fake because they are encrypted in a sophisticated cryptographic system
Unlike currencies, the value of electronic money is subject to the oldest rules of the market: supply and demand. “Currently it has a value of more than 1000 dollars and like stocks, the value of it can increase or decrease supply and demand.
What is the origin of Bitcoin?
Bitcoin, was the first cryptocurrency created by Satoshi Nakamoto in 2009. He decided to launch a new currency.
The difference is that you can only perform network operations on networks.
Bitcoin refers to both money and the protocol and red P2P on which it is based.
So, what is Bitcoin?
Bitcoin is a virtual and intangible currency. That is, you can not touch any of its forms like coins or bills, but you can use it as a way to pay the same way as these.
In some countries you can make money on an electronic debit card page that makes currency exchanges in cryptocurrencies like XAPO. For example, in Argentina, we have more than 200 bitcoin terminals.
Without a doubt, what differentiates Bitcoin from traditional currencies and other virtual payment methods such as Amazon Coins, Action Coins, is decentralization. Bitcoin is not controlled by any government, financial institution or institution, whether state or private, such as the euro, which is controlled by the Central Bank or the US Federal Reserve Dollar.
In Bitcoin control the real, not directly in their transactions, the users by exchanging P2 P (Point to Point or Point to Point). This structure and the lack of restraint cause it impossible for any authority to manipulate its value or cause inflation by producing large quantities. Its production value is based on the law of supply and demand. Other interesting details of Bitcoin have a limit of 21 million coins, which will reach 2030.
How much does a Bitcoin cost?
As we mentioned, the value of Bitcoin is based on supply and demand, and is calculated using an algorithm that measures the value of Bitcoin transactions and transactions in real time. Now the price of Bitcoin is 9,300 USD (as of March 11 in 2018), even if this amount is not minus and Bitcoin is classified as the least stable currency in the foreign exchange market.