Bitcoin Cryptocurrency – Understanding the Basics

It has been more than a decade since cryptocurrency began to make people perfect on social media and especially on the internet. Bitcoin ranks among the leading cryptocurrencies today, with no known exact source of the currency even though it woke up in mid-2008 in connection with a pseudo Japanese name “Satoshi Nakamoto “.

That is, what exactly is this Bitcoin Currency and why it survives its place in the financial markets. Well, the following listed factors may give you an idea of ​​its popularity and an evidence of its continued safe future existence.

  • Bitcoin was the first decentralized digital currency.

  • Bitcoin is an independent free floating currency that does not belong to any government or partner with any other currency to influence the prudent amount of economic indicators that govern the value of traditional currencies .

  • With the growing popularity of many, now enjoy more acceptance level of all levels, for example, you can now buy using Bitcoin cryptocurrency directly and also sell it on various platforms like CoinBase, Bitfinex, Bitstamp, Kraken and many more. .

  • All you need is a wallet and internet connection to perform a peer to peer Bitcoin transfer.

  • In most cases transfers are quick.

  • The convenience of making transactions on the internet or on your mobile phone with one click.

  • Your privacy is safe compared to other online payment methods where your important information can be leaked and misused.

  • While money transfers through traditional methods you have to pay a fee depending on the number of your transactions and further, these transfers are subject to your specific regional and state regulations. While transacting Bitcoin cryptocurrency does not require that you be bound by any state regulations and furthermore, you will not be able to pay the heavy transaction fees.

  • Since you are the only one with access to your electronic wallet, your coins are always safe for you and no one can steal your money. The process and transactions are transparent due to the shared public ledger and anyone can verify a transaction at any time from anywhere in the world using the internet.

  • Another advantage of having a Bitcoin cryptocurrency wallet is that your account cannot be frozen.

Continuing to watch the growing popularity and acceptance of Bitcoin cryptocurrency we can safely assume that the future of Bitcoin is not only safer than bright and this new payment method is here to stay.