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What Is a Cryptocurrency?
A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to alternate goods and providers by means of a system of electronic transactions without having to go through any intermediary. The first cryptocurrency that started trading was Bitcoin in 2009, and since then many others have emerged, with different features resembling Litecoin, Ripple, Dogecoin, and others.
What's the advantage?
When evaluating a cryptocurrency with the money within the ticket, the difference is that:
They are decentralized: they are not managed by the bank, the government and any monetary institution
Are Anonymous: your privateness is preserved when making transactions
They're International: everyone's opera with them
They are safe: your coins are yours and from nobody else, it is kept in a personal wallet with non-switchable codes that only you know
It has no intermediaries: transactions are carried out from person to person
Quick transactions: to send money to a different country they cost curiosity and sometimes it takes days to confirm; with cryptocurrencies only a couple of minutes.
Irreversible transactions.
Bitcoins and another virtual currency can be exchanged for any world currency
It can not be faked because they are encrypted with a sophisticated cryptographic system
Unlike currencies, the value of digital currencies is topic to the oldest rule of the market: supply and demand. "At the moment it has a price of more than a thousand dollars and like stocks, this worth can go up or down the provision and demand.
What is the origin of Bitcoin?
Bitcoin, is the first cryptocurrency created by Satoshi Nakamoto in 2009. He determined to launch a new currency
Its peculiarity is that you would be able to only perform operations within the network of networks.
Bitcoin refers to both 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 is, you can not touch any of its forms as with coins or bills, however you should use it as a method of payment in the identical way as these.
In some countries you possibly can monetize with an digital debit card page that make money exchanges with cryptocurrencies like XAPO. In Argentina, for example, we have now more than 200 bitcoin terminals.
Undoubtedly, what makes Bitcoin completely different from traditional currencies and different virtual means of payment like Amazon Coins, Action Coins, is decentralization. Bitcoin is just not controlled by any government, institution or financial entity, either state or private, such because the euro, managed 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 way of exchanges P2 P (Point to Point or Point to Point). This construction and the lack of management makes it unimaginable for any creatority to govern its value or cause inflation by producing more quantity. Its production and value relies on the law of supply and demand. One other interesting element in Bitcoin has a limit of 21 million coins, which will be reached in 2030.
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