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What Is a Cryptocurrency?
A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to trade goods and providers by means of 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 features equivalent to Litecoin, Ripple, Dogecoin, and others.
What's the advantage?
When comparing 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 Nameless: your privateness is preserved when making transactions
They're Worldwide: 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-transferable codes that only you know
It has no intermediaries: transactions are carried out from individual to individual
Quick transactions: to send cash to a different country they cost interest and often it takes days to confirm; with cryptocurrencies only a couple of minutes.
Irreversible transactions.
Bitcoins and some other virtual currency can be exchanged for any world currency
It can't be faked because they are encrypted with a sophisticated cryptographic system
Unlike currencies, the worth of digital currencies is topic to the oldest rule of the market: provide and demand. "At present it has a price of more than 1000 dollars and like stocks, this value can go up or down the availability 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 can 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 is Bitcoin?
Bitcoin is a virtual and intangible currency. That is, you cannot contact any of its forms as with coins or bills, but you should use it as a way of payment in the same way as these.
In some countries you may monetize with an digital debit card page that make money exchanges with cryptocurrencies like XAPO. In Argentina, for instance, we've more than 200 bitcoin terminals.
Undoubtedly, what makes Bitcoin totally different from traditional currencies and different virtual technique of payment like Amazon Coins, Action Cash, is decentralization. Bitcoin isn't managed by any government, 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 structure and the lack of control makes it inconceivable for any creatority to control its value or cause inflation by producing more quantity. Its production and worth is predicated on the law of provide and demand. Another attention-grabbing detail in Bitcoin has a limit of 21 million coins, which will be reached in 2030.
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