What is Cryptocurrency?

by Shepherd Moises

Cryptocurrency or Cryptocurrency (Cryptocurrency of the Saxon) is a virtual currency that serves to exchange goods and services through an electronic transaction system without having to go through an intermediary. The first cryptocurrency to trade is Bitcoin in 2009, and since then many others appear, with other features such as Litecoin, Ripple, Dogecoin, and others.

What is the advantage?

When comparing Cryptocurrency with money in tickets, the difference is:

They are decentralized: they are not controlled by any bank, government and financial institutions
Anonymous: Your privacy is preserved when making a transaction
They are international: Opera everyone with them
They are safe: your coin is yours and from anyone, it is stored in a personal wallet with a code that cannot be transferred which you only know
Do not have an intermediary: transactions are made from people to people
Quick transaction: to send money to other countries they are interested and often needed a day to confirm; With cryptocurrency just minutes.
Irreversible transactions.
Bitcoin and other virtual currencies can be exchanged for any world currency
It can’t be faked because they are encrypted with a sophisticated cryptographic system
Unlike currencies, the value of electronic currencies is subject to the rules of the face of the market: supply and demand. “It currently has more than 1000 dollars and such as stocks, this value can go up or down offers and demand.

What is the origin of Bitcoin?

Bitcoin, is the first Cryptocurrency made by Satoshi Nakamoto in 2009. He decided to launch a new currency

The uniqueness is that you can only carry out operations in network networks.

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

So, what is Bitcoin?

Bitcoin is a virtual and intangible currency. That is, you cannot touch one of the shapes with coins or bills, but you can use it as a payment tool in the same way like this.

In some countries you can monetize with electronic debit card pages that make money exchanging with cryptocurrency like Xapo. In Argentina, for example, we have more than 200 Bitcoin terminals.

No doubt, what makes Bitcoin different from traditional currencies and other virtual payment methods such as Amazon coins, actions coins, are decentralization. Bitcoin is not controlled by the government, institutions or financial entities, both state or private, such as the euro, controlled by a central bank or dollar by the United States Federal Reserve.

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