What is a cryptocurrency?


A cryptocurrency or cryptocurrency (Saxon’s cryptocurrency) is a virtual currency that works to exchange goods and services through a system of electronic transactions without going through an intermediary. The first cryptocurrency that started trading was Bitcoin in 2009, and since then many more have emerged, including Litecoin, Ripple, Dogecoin and other features.

What are the benefits?

When comparing a cryptocurrency with ticket money, the difference is:

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

Anonymous: Your privacy is protected when making transactions

They are international: everyone’s opera with them

They are secure: your coins are not from you or anyone else, they are kept in a personal wallet with non-transferable codes that only you know

It has no intermediaries: transactions take place from person to person

Quick transactions: They charge interest to send money to another country and often take days to confirm it; Just a few minutes with cryptocurrency.

Irrevocable transactions.

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

It cannot be forged because they are encrypted with a sophisticated cryptographic system.

In contrast to currency, the value of electronic currency is subject to the oldest rules of the market: supply and demand. “Currently it is priced at over 1000 1000 and like stock, this value can go above or below supply and demand.

What is the origin of Bitcoin?

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

Its specialty is that you can only operate within a network of networks.

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

So, what is Bitcoin?

Bitcoin is a virtual and elusive currency. That is, you can’t touch any of its forms, like coins or bills, but you can use it as a means of payment.

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

Undoubtedly, what sets Bitcoin apart from traditional currencies and other virtual means of payment like Amazon Coin, Action Coin is decentralization. Bitcoin is not regulated by any government, institution or financial entity, state or private, such as the euro, regulated by the central bank or the dollar by the US Federal Reserve.

Users have real control over Bitcoin, indirectly through their transactions, through P2 P (point-to-point or point-to-point) exchanges. This lack of structure and control makes it impossible for any authority to manipulate its value or produce more and inflate it. Its production and price are based on the law of demand and supply. Another interesting detail about Bitcoin is the limit of 21 million coins, which will reach 2030.

How much does a bitcoin cost?

As we mentioned, the price of Bitcoin is based on supply and demand, and is calculated using an algorithm that measures transactions and the amount of transactions with Bitcoin in real time. Bitcoin is currently valued at 9,300 USD (as of March 11, 2018), although this value is not very stable and Bitcoin has been classified as the most volatile currency in the foreign exchange market.