What Is Cryptocurrency And Bitcoin - Benefits and Should You Invest? |
Posted: June 14, 2018 |
A cryptocurrency or cryptocurrency (cryptocurrency of the Saxon) is a virtual currency that serves to exchange goods and services through a system of electronic transactions without having to go through any intermediary. The first cryptocurrency that started trading in 2009 is Bicoin, since then many others have sprouted, like as the Litecoin, Ripple, Dogecoin, and others. What is The Advantage?When comparing a cryptocurrency with the money in the ticket, the difference is that: They are Decentralized - they are not controlled by the bank, the government and any financial institution. 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 peculiarity is that you can only perform operations within the network of networks. Bitcoin refers to both the currency and the protocol and the red P2P on which it relies. So, what is Bitcoin? Bitcoins are basically virtual currency and it can be exchanged for any currency in the world In some countries you can monetize with an electronic debit card page that make money exchanges with cryptocurrencies like XAPO. In Argentina, for example, we have more than 200 bitcoin terminals. Also, what makes Bitcoin different from traditional currencies and other virtual means of payment such as Amazon Coins, Action Coins, is decentralization. Bitcoin is not managed by any government, institution or financial entity. In Bitcoin control the real, indirectly by their transactions, users through exchanges P2 P (Point to Point or Point to Point). 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 transactions and transactions with Bitcoin in real time. Currently the price of Bitcoin is 9,300 USD (as of March 11 of 2018), although this value is not much less stable and Bitcoin is classified as the most unstable currency in the foreign exchange market. Should You Invest in Bitcoin? Remember- before you choose to invest in Bitcoin or any other digital currency, make sure you understand the risks associated with this system. Volatility is one of the major risks. It means that the value of your money can fluctuate significantly in 24 hours. In fact, the rise or fall in the value can be as much as 30%. Another problem is that most of the digital currencies that can be seen today will lose their value within 5 years, according to most experts. To be on the safe side, we suggest that you invest only that you can afford to lose. For instance, if you have $1,000, you can invest $10. And if you lose that amount, it won't create any financial issues for you. Hopefully, now, you know what Bitcoin is and whether you should invest your hard-earned money in. Remember: you shouldn't invest a good deal of money or you may get into serious financial trouble down the road. The Many Benefits of CryptocurrencyIdentity Theft - there is no need to give personal information that can lead to identity theft when using cryptocurrency. If you use a credit card, the store is given a lot of information related to your credit line, even for a very small transaction. Also, the credit card payment relies on a pull transaction where a specific amount is requested from an account. With a cryptocurrency payment, the transaction is based on a push basis, which gives the account holder the option to only send the exact amount due with no extra information. Versatile Use - a payment by cryptocurrency can easily be made to comply with certain terms. A digital contract can be created to make a payment subject to completing on a future date, reference external facts, or get third-party approval. Even with a special contract in place, this type of payment is still very fast and efficient. Easy Access - the use of cryptocurrency is widely available to anyone that has access to the internet. It is growing very popular in certain parts of the world, such as Kenya, which has nearly 1/3 of the population using a digital wallet via the local microfinance service. Low Fees - it is possible to complete a cryptocurrency transaction without having to pay extra fees or charges. However, if a digital wallet or third-party service is used to hold the cryptocurrency there is likely to be a small charge. International Trade - this type of payment is not subject to country specific levies, transaction charges, interest rates, or exchange rates, which makes it possible to complete cross-border transfers with relative ease. This is why even MLMs start using cryptocurrency. Adaptability - with nearly 1200 unique cryptocurrency types in the global market, there are plenty of opportunities to use a payment method that matches the specific needs. Even though there are plenty of options to use the coins for everyday use, there are also those intended for a specific use or in a particular industry.
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