Bitcoin Cryptocurrency – Understand the basics

For more than a decade, cryptocurrency has begun to fascinate people through social media and, above all, the Internet. Bitcoin has been able to rank among the major cryptocurrencies today, no one knows about the exact origin of the currency, but 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 maintain its place in the financial markets. Well, the reasons listed below can give you an idea of ​​its popularity and evidence of its secure 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 so that it influences the value of the 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 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 instantaneous.

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

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

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

  • Because 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 record 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.

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