Bitcoin Cryptocurrency – Understanding the Basics

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

So what exactly is this Bitcoin currency and why has it been able to hold its place in the financial markets? Well, the following listed reasons can give you an idea of ​​its popularity and proof of its safe and continued 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 to influence the value of economic indicators that govern the value of traditional currencies.

• With its growing popularity among the masses, it now enjoys a higher level of acceptability at all levels, for example, you can now buy things with the Bitcoin cryptocurrency directly and also trade them on different platforms like 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 instant.

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

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

• When transferring money through conventional methods, you must pay fees based on the volume of your transactions, and these transfers are also subject to their particular state and regional regulations. While transacting in the Bitcoin cryptocurrency does not require you to be subject to any state regulation and more, you do not incur any 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 growing popularity and acceptability of the Bitcoin cryptocurrency, we can safely assume that the future of Bitcoin is not only secure but rather bright and that this innovative payment method is here to stay.