Cryptocurrency

What is a cryptocurrency and how much is a Bitcoin worth?

A cryptocurrency or cryptocurrency “cryptocurrency in Saxon” is a virtual currency that serves to exchange goods and services through an electronic transaction system without the need to go through an intermediary. The first cryptocurrency to start trading was Bitcoin in 2008 and since then many more have appeared، with other features such as Ripple، Litecoin، Dogecoin and others.

What is the advantage?

When you compare a cryptocurrency to cash, the difference is that:

  • They are decentralized: they are not controlled by the bank، the government or any financial institution.
  • They are anonymous: your privacy is preserved when you make transactions.
  • They are international: everyone’s opera with them.
  • They are safe: your coins are yours and no one else’s, they are stored in a personal wallet with non-transferable codes that only you know.
  • There are no intermediaries: transactions are carried out person-to-person.
  • Fast transactions: to send money to another country they charge interest and often take days to confirm; with cryptocurrencies in just a few minutes.
  • Non-refundable transactions.
  • Bitcoins and any other virtual currency can be exchanged for any world currency.
  • They cannot be forged because they are encoded with a sophisticated cryptographic system

Unlike currencies, the value of cryptocurrencies is subject to the oldest rule of the market: supply and demand. “It’s currently worth more than $1,100 and like stocks, that value can go up or down with supply and demand.

What is the origin of Bitcoin?

Bitcoin, is the first cryptocurrency created by Satoshi Nakamoto in 2008. He decided to launch a new currency

Its peculiarity is that you can perform operations only within the network of networks.

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

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 earn money with a debit card website that does cryptocurrency money exchanges like XAPO. In Argentina, for example, we have more than 205 bitcoin terminals.

Undoubtedly, what makes Bitcoin different 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 entity, whether public or private, like the Euro is controlled by the Central Bank or the Dollar by the United States Federal Reserve.

In Bitcoin control real users, indirectly from their transactions, through P2 P “Point to Point or Point to Point” exchanges. This structure and lack of control makes it impossible for any authority to manipulate its value or cause inflation by producing more quantities. Its production and value is based on the law of supply and demand. Another interesting detail in Bitcoin has a limit of 21 million coins, which will be reached in 2030.

How much is a Bitcoin worth?

As we have pointed out, the value of Bitcoin is based on supply and demand and is calculated using an algorithm that measures the amount of Bitcoin transactions and transactions in real time. Currently the price of Bitcoin is 9,400 USD “as of March 12, 2018″، although this value is not much less stable and Bitcoin is classified as the most volatile currency in the foreign exchange market.

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