What Is a Cryptocurrency?


Confidential (Saxon encryption) is a virtual currency used to exchange goods and services in an electronic transaction system without having to go through any medium. The first currency to be traded in Bitcoin was introduced in 2009 and since then many other features such as Litecoin, Ripple, Dogecoin and others have been discovered.

What are the benefits?

The difference when comparing cryptocurrency with the money in the ticket is:

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

They are anonymous: Your privacy is protected when transactions are processed

They are universal of all operas with them

They are safe: your coins are not yours and no one else’s, they are kept in a private wallet with codes that only pass you know

There are no intermediaries: transactions are done from person to person

Fast Transfers: They charge interest to send money to another country and it takes a long time to verify. With cryptocurrencies in just a few minutes.

Irreversible transactions.

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

They cannot be matched because they are encrypted in an advanced encryption system

Like currencies, the value of electronic currencies is subject to the old market rules: supply and demand. It currently costs more than $ 1,000 and, like stocks, this value may or may not be higher than supply and demand.

What is the origin of Bitcoin?

Bitcoin, the first currency created by Satoshi Nakamoto in 2009, has decided to launch a new currency

The difference is that you can only perform operations in a network.

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 is, you cannot touch any of the forms as coins or bills, but you can use them in the same way as a payment method.

In some countries, you can withdraw money through an electronic debit card page that deals with securities such as XAPO. In Argentina, for example, we have more than 200 Bitcon terminals.

Undoubtedly, Bitcoin differs from traditional currencies and other Amazon coins, as well as other virtual payment methods such as Action Coins. Bitcoin is not regulated by the central bank or the Federal Reserve, either in the United States or by private, governmental, institutional or financial institutions, such as the Euro.

In Bitcoin, they indirectly control the realities of their transactions, with users exchanging P2 P (point to point or point to point). This structure and lack of control make it impossible for any official to devalue or inflate. The product and its value are based on the law of supply and demand. Another interesting detail in Bitcoin has a limit of 21 million coins, which will be reached by 2030.

How much does bitcoin cost?

As we have pointed out, the price of Bitcoin is based on supply and demand and is calculated using a algorithm that measures the volume of transactions and transactions with Bitcoin in real time. Although this price is relatively unstable and Bitcoin is considered the most volatile currency in the foreign exchange market, Bitcoin currently costs $ 9,300 (as of March 11, 2018).