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What Is a Cryptocurrency?
A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to change 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 corresponding to Litecoin, Ripple, Dogecoin, and others.
What is the advantage?
When evaluating a cryptocurrency with the money in the ticket, the distinction is that:
They are decentralized: they are not controlled by the bank, the federal government and any monetary institution
Are Nameless: your privacy is preserved when making transactions
They're International: everyone'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 another country they charge interest and infrequently it takes days to confirm; with cryptocurrencies only just a few minutes.
Irreversible transactions.
Bitcoins and any other virtual currency will be exchanged for any world currency
It can not be faked because they are encrypted with a sophisticated cryptographic system
Unlike currencies, the value of electronic currencies is subject to the oldest rule of the market: provide and demand. "At present it has a worth of more than one 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 first cryptocurrency created by Satoshi Nakamoto in 2009. He decided to launch a new currency
Its peculiarity is you could only perform 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's Bitcoin?
Bitcoin is a virtual and intangible currency. That's, you cannot contact any of its forms as with coins or bills, but you should utilize it as a method of payment in the same way as these.
In some international locations you'll be able to monetize with an digital debit card web page that make cash exchanges with cryptocurrencies like XAPO. In Argentina, for example, now we have more than 200 bitcoin terminals.
Undoubtedly, what makes Bitcoin different from traditional currencies and other virtual means of payment like Amazon Coins, Action Coins, is decentralization. Bitcoin is just not managed by any authorities, institution or financial entity, either state or private, such because the euro, controlled by the Central Bank or the Dollar by the Federal Reserve of the United States.
In Bitcoin control the real, indirectly by their transactions, customers by exchanges P2 P (Point to Point or Point to Point). This construction and the lack of control makes it not possible for any writerity to control its worth or cause inflation by producing more quantity. Its production and value relies on the law of provide and demand. Another attention-grabbing element in Bitcoin has a limit of 21 million coins, which will be reached in 2030.
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