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What Is a Cryptocurrency?
A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to exchange 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 other options such as Litecoin, Ripple, Dogecoin, and others.
What's the advantage?
When evaluating a cryptocurrency with the cash within the ticket, the distinction is that:
They are decentralized: they are not controlled by the bank, the federal government and any monetary institution
Are Anonymous: your privateness is preserved when making transactions
They're International: 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 individual to individual
Quick transactions: to ship cash to another country they charge interest and sometimes it takes days to substantiate; with cryptocurrencies only a number of minutes.
Irreversible transactions.
Bitcoins and some other virtual currency may 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 digital currencies is topic to the oldest rule of the market: supply and demand. "At the moment it has a worth of more than 1000 dollars and like stocks, this worth can go up or down the availability and demand.
What is the origin of Bitcoin?
Bitcoin, is the first cryptocurrency created by Satoshi Nakamoto in 2009. He determined to launch a new currency
Its peculiarity is that 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 is, you cannot touch any of its kinds as with coins or bills, but you should use it as a way of payment in the same way as these.
In some international locations 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 different virtual means of payment like Amazon Coins, Action Cash, is decentralization. Bitcoin isn't 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 control the real, indirectly by their transactions, customers through exchanges P2 P (Point to Point or Point to Point). This structure and the lack of management makes it impossible for any authority to control its worth or cause inflation by producing more quantity. Its production and value is based on the law of provide and demand. One other interesting element in Bitcoin has a limit of 21 million coins, which might be reached in 2030.
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