Bitcoin cryptocurrency: understanding the basics

It has been more than a decade since cryptocurrencies began to fascinate people on social media and especially on the Internet. Bitcoin has been able to rank among the top cryptocurrencies today, no one knows about the exact origin of the currency, however it appeared in mid-2008 in connection with a Japanese pseudo name “Satoshi Nakamoto”.

So what exactly is this Bitcoin coin and why has it been able to maintain its place in the financial markets? Well, the following listed reasons can give you an idea of ​​its popularity and proof of its continued safe future existence.

• Bitcoin is the first decentralized digital currency.

• Bitcoin is an independent free floating currency that is not owned by any government or associated with any other currency so that it can influence the value of the economic indicators that govern the value of traditional currencies.

• With its growing popularity among the masses, you now enjoy a higher level of acceptability at all levels, for example, you can now buy things with Bitcoin cryptocurrencies directly and also exchange them on different platforms such as CoinBase, Bitfinex, Bitstamp, Kraken and more. .

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

• In most cases, transfers are instantaneous.

• The convenience of making transactions via the Internet or your mobile phone with a few clicks.

• Your privacy is secure compared to other payment modes over the Internet, where your vital information can be leaked and misused.

• While transferring money through conventional methods, you have to pay fees depending on the volume of your transactions, and furthermore, these transfers are subject to your particular regional and state regulations. While transacting in cryptocurrencies Bitcoin does not require you to be subject to any state regulations and furthermore, you will not incur high transaction fees.

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

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

Considering the increasing popularity and acceptability of the cryptocurrency Bitcoin, we can safely assume that the future of Bitcoin is not only safe, but quite bright and that this innovative payment method is here to stay.