Cryptocurrency Bitcoin – Understanding the Basics

It has been more than a decade since cryptocurrency began to excite people on social media and especially on the Internet. To date, Bitcoin has managed to become one of the best cryptocurrencies, no one knows about the exact origin of the currency, but it appeared in mid-2008 in connection with the Japanese pseudonym “Satoshi Nakamoto”.

So, what is the bitcoin currency and why has it been able to hold its place in the financial markets. Well, the reasons listed below can give you an idea of ​​its popularity and proof of its continued safe existence in the future.

  • Bitcoin is the first decentralized digital currency.

  • Bitcoin is an independent free-floating currency that is not owned by any government or tied to any other currency because its value is influenced by the economic indicators that determine the value of traditional currencies.

  • Due to its growing popularity among the masses, it now enjoys an increased level of acceptance at all levels, for example, you can now buy things with Bitcoin cryptocurrency directly and also trade it on various platforms such as CoinBase, Bitfinex, Bitstamp, Kraken, etc. .

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

  • In most cases, translations are instant.

  • The convenience of making transactions via the Internet or mobile phone in a couple of clicks.

  • Your privacy is safe compared to other online payment methods where your vital information can be leaked and misused.

  • When transferring money using conventional methods, you must pay fees based on the volume of transactions and, in addition, these transfers are subject to your regional and state regulations. While Bitcoin cryptocurrency transactions do not require you to be tied to any government regulations, and furthermore, you are not charged high transaction fees.

  • Since you are the only one who has 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 the transaction at any time from anywhere in the world via the internet.

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

Given the growing popularity and acceptance of the Bitcoin cryptocurrency, we can safely assume that the future of Bitcoin is not only secure, but quite bright, and this innovative payment method is here to stay.