What is a cryptocurrency?

A cryptocurrency or cryptocurrency (Saxon cryptocurrency) is a virtual currency that is used to exchange goods and services through an electronic transaction system without the need to go through any intermediaries. The first cryptocurrency to start trading was Bitcoin in 2009, and since then many others have appeared 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 banks, the government or any financial institution

Anonymous: Your privacy is maintained when making transactions

They are international: all with them

They are safe: your coins are yours and from no one else’s, they are stored in a personal wallet with non-portable 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 often it takes several days to confirm; with cryptocurrencies in just minutes.

Irreversible transactions.

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

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

Unlike currencies, the value of e-currencies obeys the oldest rules of the market: supply and demand. “It currently has a value of over $ 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 feature is that you can only perform operations within a network of networks.

Bitcoin refers to both the currency and the protocol, and to 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 bills, but you can use it as a means of payment just like these.

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

Of course, 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 organization, public or private, such as the euro, under the control of the Central Bank or the dollar of the United States Federal Reserve System.

In Bitcoin, real, mediated by their transactions, users are controlled through the P2 P exchange (Point to Point or Point to Point). Such a structure and lack of control makes it impossible for any authority to manipulate its value or cause inflation by producing larger quantities. Its production and price are based on the law of supply and demand. Another interesting detail in Bitcoin 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 Bitcoin 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.