Cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to exchange goods and services through a system of electronic transactions without having to go through any intermediary. The first cryptocurrency to start trading was Bitcoin in 2009, and since then many others have emerged, along with other features such as Litecoin, Ripple, Dogecoin, and more.
What is the advantage?
When comparing a cryptocurrency to ticket money, the difference is that:
They are decentralized: they are not controlled by the bank, government and any financial institution
Anonymous: your privacy is preserved when making transactions
They are international: opera all with them
They are safe: your coins are yours and nothing else, they are kept in a personal wallet with immovable codes that only you know
It has no intermediaries: transactions are made from person to person
Quick transactions: to send money to another country they charge interest and usually take days to confirm; with cryptocurrencies just a few minutes.
Bitcoins and any other virtual currency can be exchanged for any currency in the world
They cannot be fake because they are encrypted by a sophisticated cryptographic system
Unlike currencies, the value of electronic currencies is under the oldest rule of the market: supply and demand. “Right now it has a value of more than $ 1000 and like stocks, this amount can go up or down with 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 uniqueness of this is that you can only perform operations within the network of networks.
Bitcoin refers to the currency and the protocol and the red P2P on which it relies.
So, what is Bitcoin?
Bitcoin is a virtual and intangible currency. That is, you can’t touch any of its forms like coins or bills, but you can use it as a payment method in the same way as this.
In some countries you may be able to monetize using an electronic debit card page that makes money exchanges with cryptocurrencies such as XAPO. In Argentina, for example, we have more than 200 bitcoin terminals.
Undoubtedly, what distinguishes Bitcoin from traditional currencies and other virtual payment methods such as Amazon Coins, Action Coins, is its decentralization. Bitcoin is not controlled by any government, institution or financial entity, whether state or private, such as the euro, controlled by the Central Bank or Dollar of the United States Federal Reserve.
In Bitcoin control actually, indirectly through their transactions, users by exchanging P2 P (Point to Point or Point to Point). This structure and lack of control makes it impossible for any authority to manipulate its value or cause inflation by producing large quantities. Its production and value are based on the law of supply and demand. Another interesting detail Bitcoin has a limit of 21 million coins, which will be reached by 2030.
How much is a Bitcoin worth?
As we point out, 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. Currently the price of Bitcoin is 9,300 USD (as of March 11 of 2018), even if this amount is not very strong and Bitcoin is classified as the least stable currency in the foreign exchange market.