What Is a Cryptocurrency?

A cryptocurrency or cryptocurrency (cryptocurrency of Saxony) is a virtual currency that serves to exchange goods and services through a system of electronic transactions without having to go through an intermediary. The first cryptocurrency to start trading was Bitcoin in 2009, and many others have emerged since then, with other features such as Litecoin, Ripple, Dogecoin and others.

What is the advantage?

When we compare cryptocurrency with the money in the ticket, the difference is that:

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

Are anonymous: your privacy is maintained when making transactions

They are international: everyone’s opera is with them

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

He has no intermediaries: transactions are carried out from person to person

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

Irreversible transactions.

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

It cannot be falsified as they are encrypted with a complex cryptographic system

Unlike currencies, the value of e-currencies is subject to the oldest rule on the market: supply and demand. “Currently, it has a value of more than $ 1,000, and like stocks, that value can increase or decrease 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 that you can perform operations only in the network of networks.

Bitcoin refers to both the currency and the protocol and red P2P it relies on.

So what is bitcoin?

Bitcoin is a virtual and intangible currency. That is, you cannot touch any of its shapes, as with coins or banknotes, but you can use it as a means of payment in the same way as these.

In some countries, you can earn money through an electronic debit card page that exchanges money with cryptocurrencies such as XAPO. For example, in Argentina we have more than 200 bitcoin terminals.

Undoubtedly, what makes Bitcoin different 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 entity, whether public or private, such as the euro controlled by the Central Bank or the dollar by the US Federal Reserve.

In Bitcoin, they control real, indirectly through their transactions, users through P2 P (Point to Point or Point to Point) exchanges. This structure and lack of control make it impossible for any body to manipulate its value or cause inflation by producing more. Its production and value are based on the law of supply and demand. Another interesting detail in Bitcoin is the limit of 21 million coins, which will be reached in 2030.

How much is bitcoin?

As mentioned, 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 Bitcoin in real time. Currently, the price of Bitcoin is 9,300 USD (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.