Bitcoin Cryptocurrency – Understanding the basics

It has been more than a decade since cryptocurrency began to attract people on social media and especially the internet. Bitcoin has managed to rank among the leading cryptocurrencies today, nothing is known about the exact origin of the money even though it emerged in mid-2008 in connection with a pseudo Japanese name “Satoshi Nakamoto “.

So, what exactly is Bitcoin Currency and why has it been able to maintain its place in the financial markets. Well, the following listed reasons may give you an idea of ​​its popularity and a piece of evidence about its continued safe existence in the future.

  • Bitcoin is the first decentralized digital currency.

  • Bitcoin is an independent free-floating currency that is not owned by any government or affiliated with any other currency so it can influence value wisely with economic indicators that govern the value of traditional currencies. .

  • With the growing popularity among the masses, it now enjoys an increased level of acceptance at all levels, for example, you can now buy items using Bitcoin cryptocurrency directly and also sell them on various platforms like CoinBase , Bitfinex, Bitstamp, Kraken and more. .

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

  • In most cases the transfers are immediate.

  • The ease of making transactions on the internet or on your mobile phone in a couple of clicks.

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

  • While transferring money through the usual methods you will have to pay fees depending on the number of your transactions and in addition, these transfers are subject to your specific regional and state regulations. While Bitcoin cryptocurrency transactions do not require you to be bound by any state regulations and moreover, you cannot pay heavy fees on transactions.

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

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

Continuing to see the growing popularity and acceptance of Bitcoin cryptocurrency we can safely assume that the future of Bitcoin is not only secure but relatively bright and this new payment method is here to stay.