Bitcoin cryptocurrency – Understanding the basics

More than a decade has passed since cryptocurrency began to captivate people through social media and especially through the Internet. To date, bitcoin has been among the best cryptocurrencies, no one knows the exact origin of the currency, but it appeared in mid-2008 due to the Japanese pseudonym “Satoshi Nakamoto”.

So what is this bitcoin currency and why has it been able to maintain its place in the financial markets. Well, the following reasons can give you an idea of ​​its popularity and evidence 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 linked to any other currency so that it can affect the value of economic indicators that govern the value of traditional currencies.

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

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

  • In most cases, transmissions occur instantly.

  • Convenience to make transactions via the Internet or mobile phone in a couple of clicks.

  • Your privacy is secure compared to other online payment methods, where your vital information can be traced and misused.

  • When transferring money in the usual ways you have to pay a commission depending on the volume of your transactions and further, these transfers are governed by your regional and state rules. While transactions in Bitcoin cryptocurrencies do not require you to fall under any government regulations, moreover, you will not pay for large transaction fees.

  • Since you are the only one who has access to your e-wallet, your coins are always safe and no one can steal your money. The process and transactions are transparent thanks to a shared public book, and anyone can verify a transaction anytime from anywhere using the Internet.

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

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