Cryptocurrency Bitcoin – Understanding the basics

It has been more than ten years since cryptocurrency began to captivate people on social media and especially online. To date, bitcoin has been able to deal with one of the best cryptocurrencies, no one knows the exact origin of the currency, but it appeared in mid-2008 in connection with the Japanese pseudonym “Satoshi Nakamoto”.

So what is this Bitcoin currency and why has it been able to hold its place in the financial markets. Well, the following reasons may give you an idea of ​​its popularity and evidence of its continued safe existence in the future.

  • Bitcoin is the first decentralized digital currency.

  • Bitcoin is an independent free-floating currency that is neither owned by the government nor with any other currency, so the economic indicators that regulate the value of traditional currencies affect its value.

  • Due to the growing popularity among the masses, it now enjoys an increased level of acceptance at all levels, for example, you can now buy things using cryptocurrency Bitcoin directly and trade them on various platforms such as CoinBase, Bitfinex, Bitstamp, Kraken and others. .

  • All you need is a wallet and an internet connection to make a peer-to-peer Bitcoin transfer.

  • In most cases, transfers occur instantly.

  • Convenience of making transactions via the Internet or mobile phone in a couple of clicks.

  • Your privacy is secure compared to other online payment methods, where your vital information can be leaked and misused.

  • When transferring money by the usual methods you have to pay a commission depending on the volume of your transactions and further, these transfers are subject to your regional and state rules. Although transactions in the cryptocurrency Bitcoin do not require you to be bound by government rules, and in addition, you do not incur large transaction fees.

  • Since you are the only one who has access to your e-wallet, your coins are always safe and no one can steal your money. The process and transactions are transparent because of the shared public book, and anyone can verify the transaction at any time from anywhere in the world via the Internet.

  • Another advantage of having a cryptocurrency Bitcoin wallet is that your account cannot be frozen.

Given the growing popularity and acceptability of the cryptocurrency Bitcoin, we can confidently assume that the future of Bitcoin is not only secure but also quite bright, and this innovative method of payment will remain.