What Is a Cryptocurrency?

Cryptocurrency or cryptocurrency (cryptocurrency of Saxony) is a virtual currency that is used to exchange goods and services through an electronic transaction system without the need for an intermediary. The first cryptocurrency to start trading was bitcoin in 2009, and many others have appeared since then, with other features such as Litecoin, Ripple, Dogecoin and others.

What is the advantage?

If you compare cryptocurrency with money in the ticket, the difference is that:

They are decentralized: they are not controlled by the bank, the government and any financial institution

Anonymous: Your privacy is maintained when making transactions

They are international: all with them opera

They are safe: your coins are yours and from no one else they are stored in a personal wallet with non-transferable codes that only you know.

There are no intermediaries in it: transactions are carried out from person to person

Fast transactions: to send money to another country, they charge interest, and it often takes days to confirm; with cryptocurrencies in just a few minutes.

Irreversible transactions.

Bitcoin and any other virtual currency can be exchanged for any world currency

It cannot be forged because they are encrypted by a complex cryptographic system

Unlike currencies, the value of e-currencies obeys the oldest rule of the market: supply and demand. “Currently, its value exceeds $ 1,000, and as with stocks, that figure could increase and decrease supply and demand.

How does bitcoin come from?

Bitcoin is the first cryptocurrency created by Satoshi Nakamoto in 2009. He decided to issue a new currency

Its feature is that you can only perform operations in a network of networks.

Bitcoin means 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 is, you cannot touch any of its forms like coins or banknotes, but you can use it as a means of payment just like these.

In some countries, you can monetize using a debit card website that allows you to exchange money with cryptocurrencies such as XAPO. For example, in Argentina we have more than 200 bitcoin terminals.

Undoubtedly, what distinguishes bitcoin from traditional currencies and other virtual means of payment, such as Amazon Coins, Action Coins, is decentralization. Bitcoin is not controlled by any government, institution or financial structure, or public or private, such as the euro, controlled by the Central Bank or the US Federal Reserve dollar.

In Bitcoin, real, indirectly through their transactions, control users through the P2 P exchange (Point to Point or Point to Point). Such a structure and lack of control makes it impossible for any body that manipulates its value or causes inflation by producing more. Its production and cost are based on the law of supply and demand. Another interesting detail in bitcoins has a limit of 21 million coins to be reached in 2030.

How much is bitcoin?

As we have noted, the value of bitcoin is based on supply and demand and is calculated using an algorithm that measures the number of transactions and transactions with bitcoins in real time. Currently, the value of bitcoin is $ 9,300 (as of March 11, 2018), although this value is not much less stable, and bitcoin is classified as the most volatile currency in the foreign exchange market.