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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 through a system of electronic transactions without having to undergo 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 in the ticket, the distinction is that:

    They’re decentralized: they don’t seem to be managed by the bank, the government and any monetary institution

    Are Anonymous: your privacy 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-transferable codes that only you know

    It has no intermediaries: transactions are carried out from individual to individual

    Quick transactions: to ship money to another country they charge curiosity and infrequently it takes days to confirm; with cryptocurrencies only a couple of minutes.

    Irreversible transactions.

    Bitcoins and some other virtual currency will be exchanged for any world currency

    It cannot be faked because they’re encrypted with a sophisticated cryptographic system

    Unlike currencies, the value of electronic currencies is topic to the oldest rule of the market: provide and demand. “At the moment it has a worth of more than one thousand dollars and like stocks, this value 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 both 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 can’t touch any of its forms as with coins or bills, however you can use it as a method of payment in the identical way as these.

    In some countries you may monetize with an digital debit card web page that make money exchanges with cryptocurrencies like XAPO. In Argentina, for example, we now have more than 200 bitcoin terminals.

    Undoubtedly, what makes Bitcoin totally different from traditional currencies and other virtual technique of payment like Amazon Coins, Action Cash, is decentralization. Bitcoin isn’t controlled by any authorities, institution or monetary entity, either state or private, such as 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 way of exchanges P2 P (Point to Point or Point to Point). This structure and the lack of management makes it unattainable for any creatority to manipulate its value or cause inflation by producing more quantity. Its production and worth is predicated on the law of supply and demand. One other fascinating detail in Bitcoin has a limit of 21 million coins, which will be reached in 2030.

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