Cryptocurrency or cryptocurrency (cryptocurrency of the Saxons) is a virtual currency that serves to exchange goods and services through an electronic transaction system without the need to go through intermediaries. The first cryptocurrency to start trading was Bitcoin in 2009, and since then many others have appeared with other features such as Litecoin, Ripple, Dogecoin and others.
What is the advantage?
When comparing cryptocurrency to money in a ticket, the difference is that:
They are decentralized: not controlled by a bank, government or any financial institution
Anonymous: Your privacy is preserved when you make transactions
They are international: all operas with them
They’re safe: your coins belong to you and no one else, they’re stored in a private wallet with non-transferable codes known only to you
There are no intermediaries in it: transactions are carried out from person to person
Fast transactions: To send money to another country, they charge interest and often take days to confirm; with cryptocurrencies in just a few minutes.
Bitcoins and any other virtual currency can be exchanged for any global currency
These cannot be faked because they are encrypted using a sophisticated cryptographic system
Unlike currencies, the value of electronic currencies is subject to the oldest rule of the market: supply and demand. “It currently has a value of over $1,000, and like stocks, that value can go up or down with supply and demand.
What is the origin of Bitcoin?
Bitcoin is the first cryptocurrency created by Satoshi Nakamoto in 2009. He decided to issue a new currency.
Its feature is that you can perform operations only within the network of networks.
Bitcoin refers to both the currency and the protocol and red P2P on which it relies.
So what is Bitcoin?
Bitcoin is a virtual and intangible currency. That is, you cannot touch any of its forms like you can with coins or bills, but you can use them as a means of payment in the same way as these.
In some countries, you can monetize with an electronic debit card page that exchanges money for cryptocurrencies such as XAPO. In Argentina, for example, we have over 200 Bitcoin terminals.
Undoubtedly, what distinguishes Bitcoin from traditional currencies and other virtual means of payment such as Amazon Coins, Action Coins is decentralization. Bitcoin is not controlled by any government, institution or financial entity, public or private, such as the Euro, which is controlled by the Central Bank, or the dollar, which is controlled by the US Federal Reserve.
In Bitcoin, real users are controlled indirectly by their transactions through P2 P (Point to Point or Point to Point) exchanges. This structure and lack of control make it impossible for any government to manipulate its price or cause inflation by producing more. Its production and value is based on the law of supply and demand. Another interesting detail in Bitcoin is the limit of 21 million coins that will be reached in 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 the number of transactions and Bitcoin transactions in real time. Currently, the price of Bitcoin is $9,300 (as of March 11, 2018), although this value is not much less stable, and Bitcoin is considered the most volatile currency in the foreign exchange market.