What is cryptocurrency?


A cryptocurrency or cryptocurrency (Saxon’s cryptocurrency) is a virtual currency that exchanges goods and services through a system of electronic transactions without going to an intermediary. The first cryptocurrency to start trading was Bitcoin in 2009, and since then many more have appeared, along with other features such as Litecoin, Ripple, Dogecoin and others.

What are the benefits?

When comparing cryptocurrencies with ticket money, the difference is:

They are decentralized: they are not controlled by banks, government and any financial institution

Anonymous: Your privacy is protected while transacting

They are international: everyone’s opera with them

These are secure: your coins are not from you or anyone else, they are kept in a personal wallet with non-transferable codes that only you know

It has no intermediaries: transactions are conducted from person to person

Quick transactions: They charge interest to send money to another country and often take a few days to confirm; Just a few minutes with cryptocurrency.

Irrevocable transactions.

Bitcoin and any other virtual currency can be exchanged for any world currency

It cannot be duplicated because it is encrypted with a sophisticated cryptographic system.

In contrast to currency, the value of electronic currency is subject to the ancient rules of the market: supply and demand. “Currently it is worth more than 1000 1000 and like stocks, this value can increase or decrease supply and demand.

What is the origin of Bitcoin?

Bitcoin, the first cryptocurrency created by Satoshi Nakamoto in 200oshi. He decided to introduce a new currency

Its specialty is that you can only operate within the network of the network.

Bitcoin refers to both the currency and the protocol and the red P2P on which it depends.

So, what is Bitcoin?

Bitcoin is a virtual and indomitable currency. That is, you can’t touch any of its forms like coins or bills, but you can use it as a means of payment in the same way.

In some countries you can monetize via an electronic debit card page that exchanges money through cryptocurrencies such as XAPO. In Argentina, for example, we have more than 200 bitcoin terminals.

Not to mention Bitcoin, which distinguishes Bitcoin from traditional virtual currency and other virtual means of payment such as Amazon Coin, Action Coin is decentralization. Bitcoin is not regulated by any government, institution or financial entity, state or private, such as the euro, regulated by the central bank or the dollar by the US Federal Reserve.

Bitcoin controls realities indirectly through their transactions, with users using the P2 P (point-to-point or point-to-point) exchange. This lack of structure and control makes it impossible for any authority to manipulate its value or produce in large quantities to create inflation. Its production and price are based on supply and demand law. Another interesting detail about Bitcoin is the limit of 21 million coins, which will reach 2030.

How much is Bitcoin worth?

As we mentioned, the value of Bitcoin is based on supply and demand, and is calculated using an algorithm that measures transactions and the amount of transactions with Bitcoin in real time. Bitcoin is currently valued at 9,300 USD (as of March 11, 2018), although this value is not very stable and Bitcoin has been classified as the most volatile currency in the foreign exchange market.