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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 companies 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 options comparable to Litecoin, Ripple, Dogecoin, and others.
What's the advantage?
When comparing a cryptocurrency with the money within the ticket, the difference is that:
They're decentralized: they aren't managed by the bank, the government and any financial institution
Are Nameless: your privateness 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-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 charge interest and infrequently it takes days to confirm; with cryptocurrencies only a few minutes.
Bitcoins and another virtual currency might be exchanged for any world currency
It cannot be faked because they're encrypted with a sophisticated cryptographic system
Unlike currencies, the worth of electronic currencies is topic to the oldest rule of the market: provide and demand. "Currently it has a worth of more than 1000 dollars and like stocks, this value can go up or down the supply and demand.
What's 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 that you would be able to only carry out 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 is Bitcoin?
Bitcoin is a virtual and intangible currency. That's, you cannot contact any of its types as with coins or payments, however you need to use it as a means of payment in the same way as these.
In some countries you'll be able to monetize with an digital debit card page that make money exchanges with cryptocurrencies like XAPO. In Argentina, for example, we have more than 200 bitcoin terminals.
Undoubtedly, what makes Bitcoin totally different from traditional currencies and different virtual means of payment like Amazon Cash, Action Coins, is decentralization. Bitcoin will not be controlled by any authorities, institution or financial entity, either state or private, such because the euro, controlled by the Central Bank or the Greenback by the Federal Reserve of the United States.
In Bitcoin control the real, indirectly by their transactions, users via exchanges P2 P (Point to Point or Point to Point). This construction and the lack of control makes it unattainable for any writerity to control its worth or cause inflation by producing more quantity. Its production and worth is predicated on the law of provide 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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