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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 digital 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 is the advantage?
When comparing a cryptocurrency with the money within the ticket, the difference is that:
They're decentralized: they are not controlled by the bank, the federal government and any financial institution
Are Anonymous: your privateness is preserved when making transactions
They're Worldwide: everybody's opera with them
They're 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 charge curiosity and sometimes it takes days to substantiate; with cryptocurrencies only a couple of minutes.
Bitcoins and any other virtual currency can be exchanged for any world currency
It can't be faked because they're encrypted with a sophisticated cryptographic system
Unlike currencies, the worth of digital currencies is topic to the oldest rule of the market: supply and demand. "Presently it has a value of more than a thousand dollars and like stocks, this worth can go up or down the supply and demand.
What is the origin of Bitcoin?
Bitcoin, is the primary cryptocurrency created by Satoshi Nakamoto in 2009. He determined to launch a new currency
Its peculiarity is you could only carry out operations within the network of networks.
Bitcoin refers to each 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's, you can not touch any of its varieties as with coins or bills, however you should utilize it as a method of payment in the same way as these.
In some countries you may monetize with an electronic debit card page that make money exchanges with cryptocurrencies like XAPO. In Argentina, for instance, now we have more than 200 bitcoin terminals.
Undoubtedly, what makes Bitcoin totally different from traditional currencies and other virtual technique of payment like Amazon Cash, Action Cash, is decentralization. Bitcoin shouldn't be controlled by any authorities, institution or financial entity, either state or private, such as 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, users by means of exchanges P2 P (Point to Point or Point to Point). This construction and the lack of control makes it inconceivable for any authority to control its value or cause inflation by producing more quantity. Its production and worth relies on the law of supply and demand. One other interesting detail in Bitcoin has a limit of 21 million coins, which shall be reached in 2030.
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