6 Benefits of Investing in Cryptocurrencies

Decentralized Finance, or DeFi for short, has taken the world of cryptocurrency and blockchain by storm. However, his latest revival hides its roots in the 2017 bubble era. While everyone and their dog was dealing with the “Initial Coin Offer” or ICO, several companies saw the potential of the blockchain as far removed from a quick gain in price. These pioneers envisioned a world in which financial applications, from trade to savings, banking, and insurance, would be possible in a blockchain without intermediaries.

To understand the potential of this revolution, imagine that you have access to a savings account that earns 10% a year in US dollars, but without a bank and virtually no cash risk. Imagine being able to trade in product insurance with a farmer in Ghana sitting in your office in Tokyo. Imagine that you can be a market maker and earn as much interest as every Citadel wants. Sounds too good to be true? It’s not. This future is already here.

DeFi’s building blocks

Here are some DeFi building blocks you need to know before moving on:

• Creating or exchanging an automated market with one asset reliably with another without an intermediary or clearing house.

• Extremely secured lending or the ability to “put your assets to use” for traders, speculators and long-term owners.

• Stablecoins or algorithmic assets that track the base price without centralization or support by physical assets.

Understand how DeFi is made

Stablecoins are often used in DeFi because they mimic traditional fiat currencies such as the US dollar. This is an important development, because the history of cryptocurrency shows how changeable events are. Stabilcoins like DAI are designed to track the value of the USD with small deviations, even during strong bear markets, ie even if the price of the cryptocurrency falls as the bear market in 2018-2020.

Credit protocols are an interesting development, usually based on stablecoins. Imagine being able to freeze your $ 1 million assets and then borrow them in stablecoins. If you do not repay the loan when your collateral is insufficient, the protocol will automatically sell your assets.

Automated market makers form the basis of the entire DeFi ecosystem. Without it, you are stuck with an old financial system that you have to trust your broker, clearing house or stock exchange. Automated market makers, or AMMs for short, allow you to trade one asset to another based on the stock of both assets in their pools. Price discovery occurs through external arbitrage. Liquidity is consolidated based on other people’s assets, and they gain access to trading fees.

You can now be exposed to a large number of assets in the Ethereum ecosystem and without ever contacting the traditional financial world. You can make money by lending assets or by being a market maker.

This is an amazing innovation for the developing world, because now they have access to a full set of financial systems in the developed world without any barriers.

The future of cryptocurrencies

When you look at the cryptocurrency-based currency market, it will look exciting, but also interesting and mysterious. Pioneer, Bitcoin, has gained great popularity in the last few years. The currency undoubtedly declined significantly, but once again regained its position. In addition, ICOs for new cryptocurrencies are growing rapidly.

A lot of money is invested in the Bitcoin industry

We can not ignore the fact that a large amount of money is invested in the domain. However, according to financial experts, the whole future looks a little doubtful. The future of cryptocurrency is largely based on forecasts and speculation of technological trends. There are some cryptocurrency supporters who think about a bright future, while others warn people about the future of cryptocurrency.

Changing national currencies until 2030

Some leading futurists believe that cryptocurrency will remain and dominate the financial market. Cryptocurrencies are projected to replace national currencies by almost 25% by 2030. Cryptocurrency-based currencies are considered more efficient, especially in terms of their mode of operation. Thus, changing national currencies will not be a big deal.

When bitcoin was introduced in 2009, it showed a lot of potential and was successful. Within a year, it flourished and continues to grow, which makes it a legitimate currency and an asset in several countries. Several other cryptocurrencies have emerged in recent years, and their popularity has led to the legalization of new assets or currencies in addition to the common currencies that operate in the global financial economy.

There is no denying that there will be some money to be lost in a cryptocurrency-based currency economy. However, it is also believed that the probability of making a profitable income is high.

Currencies based on cryptography cannot be expected to work as cash

Cryptocurrencies work in blockchain technology and, unlike traditional currencies, are not tied to any centralized body. Some experts often call it a blockchain economy. The IRS sees cryptocurrency as more of an asset than an actual currency. It would be wrong to say that Bitcoin is more or less similar to real estate sales.

When you sell your Bitcoin, you discreetly transfer digital information to someone else. There are already several Visa companies that make it easier to use cryptocurrencies for ordinary transactions. But cryptocurrency is still something that needs to take a strong position in the underlying economy.

Blockchains, side chains, mining – in the secret world of cryptocurrency, terminology continues to accumulate for minutes. While the introduction of new financial terms may seem reasonable in an already complex financial world, cryptocurrencies offer a solution to one of the biggest concerns in today’s money market – the much-needed security of transactions in the digital world. Cryptocurrency is a defining and disruptive innovation in the rapidly evolving world of Finnish technology, a response to the need for a secure medium of exchange in the days of virtual transactions. At a time when transactions are just numbers and figures, cryptocurrency offers to do just that!

In its most primitive form of the term, cryptocurrency is a testament to the concept for an alternative virtual currency that promises secure, anonymous transactions through a peer-to-peer online network. Misrepresentation refers to property rather than actual currency. Unlike everyday money, cryptocurrency models operate without a central authority as a decentralized digital mechanism. In a distributed cryptocurrency mechanism, money is issued, managed and approved by a network of collective community peers – recognized as a sustainable activity. mining in the car of his peer. Successful miners also buy coins by valuing the time and resources they use. Once used, transaction information is transferred to a blockchain on the network under a public key, preventing each coin from being spent twice by the same user. Blockchain can also be thought of as a cash register. The coins are stored on the back of the digital wallet, which is protected by a password that represents the user.

In the digital currency world, the supply of coins is predetermined without manipulation by any person, organization, government agency or financial institution. The cryptocurrency system is known for its speed, because transactions on digital wallets can make funds in a few minutes compared to the traditional banking system. It is also irreversible in terms of design, reinforces the idea of ​​anonymity and eliminates the possibility of returning the money to the original owner. Unfortunately, the obvious features – speed, security and anonymity – have made cryptocurrencies a mode of operation for many illegal trades.

As in the real world money market, exchange rates fluctuate in the digital coin ecosystem. Due to the limited number of coins, as the demand for the currency increases, the value of the coins increases. Bitcoin is the largest and most successful cryptocurrency to date, with a market value of $ 15.3 billion, occupying 37.6% of the market and currently priced at $ 8,997.31. Bitcoin entered the foreign exchange market in December 2017, selling for $ 19,783.21 per coin before facing a sudden decline in 2018. This decline is partly due to the increase in alternative digital coins such as Ethereum, NPCcoin, Ripple, EOS, Litecoin and MintChip.

Due to strictly coded restrictions on supply, cryptocurrencies are considered to follow the same economic principles as gold – the price is determined by changes in supply and demand. It is still necessary to see their sustainability with constant fluctuations in exchange rates. As a result, investing in virtual currencies is more speculation than the daily money market.

After the Industrial Revolution, this digital currency was an indispensable part of the technological breakdown. From the point of view of a casual observer, this rise may seem exciting, threatening and mysterious at once. While some economists are skeptical, others see it as a lightning revolution in the money industry. Conservatively, digital coins are expected to squeeze about a quarter of the national currencies in developed countries by 2030. This has already created a new asset class alongside the traditional global economy, and a new set of investment instruments from cryptocurrency will be created in the coming years. Bitcoin may have recently dropped to focus on other cryptocurrencies. However, this does not signal any failure of the cryptocurrency itself. While some financial advisers emphasize the role of governments in breaking the underworld to regulate central governance, others insist on maintaining the current free flow. The more popular cryptocurrencies are, the more research and regulation they involve – a common paradox that hurts the digital record and destroys the ultimate goal of its existence. In both cases, the lack of intermediaries and control makes it very attractive to investors and leads to a sharp change in daily trading. Even the International Monetary Fund (IMF) fears that cryptocurrencies will overwhelm central banks and international banking in the near future. After 2030, the cryptocurrency supply chain will dominate regular trade, which will offer less friction and more economic value among technologically capable buyers and sellers.

If cryptocurrency aspires to be an important part of the existing financial system, it must meet very different financial, regulatory and social criteria. It must be sustainable, consumer-friendly, and strictly protected against hackers in order to offer the main benefits to the underlying money system. It must protect the anonymity of the user without money laundering, tax evasion and internet fraud. Because these are essential to the digital system, it will take several more years to realize that cryptocurrency cannot compete at full speed with real-world currencies. Although this is likely to happen, the success (or failure) of the cryptocurrency in overcoming the difficulties will determine the fate of the monetary system in the coming days.

A Guide to Understanding Bitcoin and Cryptocurrency?

Although Bitcoin is one of the most searched terms (according to Google), it is a very technical topic for many people and can be overly technical for non-geeks. However, there are now hundreds of cryptocurrencies, and more and more people want to learn how bankers work because of their unreliability, which is a completely different discussion.

It’s hard to get a simple person’s explanation without using technical terms like “secret keys”, “digital keys”, “digital wallet” and “cryptocurrency”, so I’ll do my best to keep everything as straightforward as possible. be able.

The concept of fiat money, ie paper currency, is designed to make it easier for people to exchange goods or services, because at best it will be limited to the exchange between two willing parties, while money allows you to provide money. get your service or goods, and then any services or goods that you require from someone else or others.

Therefore, I would argue that Bitcoin is equivalent to barter in the 21st century, because it works directly as an exchange of goods or services between two willing parties. Barter was based on every promise and trust, to provide and deliver the promised goods or services.

Today, with Bitcoin or any other cryptocurrency, each party needs a unique file or unique key to exchange the agreed value between each other.

Having a unique key or file makes it easy to keep a record of each transaction. But it also comes with problems.

Now, barter, as I have already mentioned, is a simple skill or barter, the modern equivalent or bitcoin is vulnerable to security breaches, i.e. file theft or hacking, where a “cryptocurrency wallet” is included in the equation to ensure security. your operations.

Basically you need a safe place for your cryptocurrency / bitcoin purchases and holdings. This is where the need for a hardware wallet comes from.

So now that you have written / recorded how much bitcoin is stored at which address and then updated every time you make a transaction, the file is known as “Blockchain” and it keeps a record of all transactions with bitcoin.

The next step is to keep our files unique.

I will talk about this in the next article.

Coinbase says there is “No Decision” about New Assets amid Ripple rumors

Coinbase is backtracking on rumors that Ripple may soon add an XRP token to current trading pairs.

The speculation came after Coinbase CEO and president Asiff Hirge revealed that he could be seen closely with Ripple CEO Brad Garlinghouse on a special edition of CNBC’s Fast Money program on March 6. Moreover, despite any harsh confirmation of the probable list, the price of XRP rose above $ 1 on Monday.

After hours of radio interruptions over the issue, Coinbase used Twitter to counter the rumors, saying the January announcement of a list of new cryptocurrencies had not changed – the subtle elements of how the “internal expert committee” made those decisions – had not changed.

Our January 4, 2018 statement continues to stand still: we have not decided to add additional assets to GDAX or Coinbase.

As a CNBC segment, it is unclear whether Garlinghouse and Hirge will appear on the panel or independently. Leading Melissa Lee tweeted today a screenshot of a promo for the crypto-themed segment, highlighting Passport Capital founder John Burbank and Social Capital founder and CEO Chamath Palihapitiya.

A Ripple representative declined to comment on the rumors when they arrived.

Ripple saw another significant month in which the cryptocurrency asset XRP could not withstand a significant loss compared to unprecedented highs in early January.

XRP attracted the attention of up to 1,000 percent earlier this year, as well as new customers; his blockchain startup became the talk of the crypto industry in 2018.

However, it is important for newcomers to know that at the root of all this enthusiasm is the concrete claims of the startup – in particular, its technology will be able to change international payments, improve outdated methods of payments and money. among important financial institutions.

According to Ripple, the products are not only cheaper and faster, but also proudly confirm that they are more methodical than the services available on the market today, which primarily emphasizes the use of cryptocurrency and blockchain technology.

Coinbase threw a little cold water on Ripple fans who wanted to see their coins hit the popular major stock exchange.

Ripple’s rumors that XRP will be next in line after Bitcoin Cash heats up among coin toss types this week are some readings between lines from CNBC’s Fast Money segment, which will be attended by Ripple CEO Brad Garlinghouse and Coinbase President Asiff Hirge. looks like a panel discussion on cryptocurrency trends.

Speculation based on the Fast Money segment pushed XRP up about 6% from its weekly average to $ 1.07. Ripple’s XRP remains the only coin in the top five for non-existent market capital in Coinbase, although its lack is not surprising given the XRP’s centralized nature and very different objectives compared to other cryptocurrency projects. Still, there is a lot of trading interest, and that doesn’t stop Coinbase from adding XRP in the future.

Any statement to the contrary is untrue and is not allowed by the company. ”After the statement, the XRP retreated modestly to its previous averages.

The company also linked it to a January 5 blog post on the criteria for adding new assets. “Coinbase will only announce the addition of new assets through our blog post or other official channels,” the article said. The company is unlikely to repeat the chaos associated with the introduction of Bitcoin Cash. Support for Coinbase’s newest asset was officially announced ahead of schedule, but the presentation itself was disrupted by huge rewards, trade freezes and domestic trade research.

Bitcoin Risks that investors need to know

One risk is the volatility of bitcoin

Everyone knows how volatile bitcoin is, and investors will see the value of this cryptocurrency change dramatically. If you can’t cope with the rise and fall of bitcoin, investing in bitcoin is not for you. If losing your capital causes you to lose sleep, you have very little to gain. I can’t emphasize enough the importance of using your arbitrary spending money to play in the cryptocurrency market.

What are discretionary costs?

It is money spent on travel, food, entertainment, hobbies and sports.

You will never spend your rent or retirement money on entertainment for a day in competitions, so you should not use that money to play in the cryptocurrency market.

Two-Hacking Risk

A company called Cryptopia, an online bitcoin trading platform, kept the money invested in Bitcoin, which was broken and all those who invested in bitcoin lost their money.

It should be noted that you should not play cryptocurrency with funds that you can never lose, or you will not be able to place many eggs in one basket.

Another thing I have to add is that the actual amount of money lost by cryptocurrency investors will be greatly inflated due to the rising price of bitcoin. If someone has invested $ 1,000 in bitcoin and it has risen to $ 10,000 in a few years, just to lose the lot. This person will go to the record of losing 10k, but in fact they lost only 1k.

Risk three-Lost password

An Australian man was locked out of his bitcoin wallet because he could not even remember his password. The website where he has bitcoin will permanently block his wallet if he makes ten unsuccessful login attempts. He did eight. He has more than 300,000 in his bitcoin wallet.

The lesson here is to write down your password and keep it locked in a safe place.

Another tip is to diversify your portfolio so that if something goes terribly wrong, you don’t lose much in one go.

Risk four-Government control

Governments have the ability to ban crypto trading; That’s exactly what China did. Several Chinese agencies have joined forces to ban “illegal” cryptocurrency activities. This does not mean that other countries will do the same, but it does show that governments have the authority to do so.

Risk Five-Tax

Two things are certain in life, death and taxes. You can be sure that one day the tax officer will ask for a piece of your bitcoin paste. Whether in the form of the Capital Gains Tax or the rising value of bitcoin. Keep in mind that if you are taxed on Bitcoin’s Capital gains, then it may be possible to claim a tax refund for any capital loss. A good accountant can advise you here.

No matter what form of capital investment you invest in, you must always remember that when there is an opportunity to earn capital, there is a possibility of capital loss. Investing in cryptocurrency is risky, so it’s not enough to emphasize that the money you invest in bitcoin should be the money you can lose.

Binary options have become increasingly popular in the last 2 years. This type of trading was desirable among new traders because they did not actually need to buy anything, it was enough to predict whether the asset would move up or down within a certain time frame. These trades take place over a short period of time (30 seconds, 1 minute, 5 minutes), but can take months. If a trader makes a wrong prediction, they will surely lose their money. If the trader was right in his prediction, they will receive 80-85% of the payment, depending on the broker.

Binary options are sometimes referred to as “all or nothing”, “digital options” or “fixed return options” (FROs) traded on the American Stock Exchange.

Bitcoin (BTC) is a digital currency created and stored electronically and no one controls it. “Bitcoin is an online payment system invented by Satoshi Nakamoto, who published his invention in 2008 and released it as open source software in 2009. The system is peer-to-peer; users can operate directly without the need for an intermediary. Transactions are controlled by network nodes and blockchain The system operates without a central repository or a single administrator, which has led the US Treasury to categorize it into a number of decentralized virtual currencies. Bitcoin is often called the first cryptocurrency. .. “

Bitcoin as a currency in binary options trading

Bitcoin is currently a widely used currency, and many trading platforms accept it as a payment method for their customers’ trading deposits. There are many benefits to using Bitcoin as a currency. The first benefit is that “the cost of the transaction is the lowest of all forms of online payment. This is why Bitcoin was created primarily to reduce the cost of online transactions. Because there is no central authority, no service fee is charged when managing, accepting or transferring Bitcoin.” Another reason why traders use Bitcoin as a currency is that Bitcoin itself is exchangeable and they can earn extra Bitcoin in this way.

“By recording all trades in Bitcoin, a trader can protect himself from changes in this cryptocurrency, as well as earn more from the profits from trading.”

Bitcoin as a commodity in binary options trading

With the recent popularity of Bitcoin and its adoption as a currency, many binary options platforms have begun to use Bitcoin as one of the currencies for trading. such as an asset. Stockbrokers see the value of BTC in trading against straight currencies, especially the US dollar.

Today, there are 2 main types of Bitcoin binary options platforms:

• First generation brokers – binary options platforms that allow you to trade Bitcoin

• Second generation brokers are platforms that offer both Bitcoin financing and Bitcoin trading

First generation brokers – Brokers offering Bitcoin trading:

• Coinut – the only Bitcoin options exchange platform; programmed as robust and the Linux operating system is distributed at coinut.com

• BTClevels – Bitcoin binary options trading platform; registered or unregistered, hassle-free btclevels.com

• 24 Options – 24option.com, one of the first brokers to actively offer BTC

Second generation brokers – Brokers offering Bitcoin financing and trading:

• Traderush binary platform – traderush.com accepts BTC deposits

• Nadex trading platform – accepts BTC financing and allows BTC trading; nadex.com offers limited risk, short-term trading, transparency and a fully regulated market

• Satoshi Option trading platform – accepts BTC financing and allows BTC trading; does not require account registration, nor personal information. Payments occur immediately and the service can be accessed from anywhere in the world at satoshioption.com

• The BTCOracle platform – the only Bitcoin platform – allows BTC financing and trading, offering multiple wallet options and full transparency btcoracle.com

• Bitstamp Platform – As mentioned above, only the BTC platform – allows BTC trading and financing, but requires access to bitstamp.net

• Bitcoin Wisdom – 3 digital currencies, Bitcoins, Litecoins, Altcoins allow you to trade against other straight currencies and requires access to bitcoinwisdom.com

• Beast Options – allows you to finance BTC and trade Bitcoins and Litecoins; beastoptions.com guarantees the fairness of prices regardless of market fluctuations

When choosing a Bitcoin broker, it is important to check their terms and conditions by paying special attention to whether their Bitcoin Assets are held in a “Deep Cold Warehouse”. This means that bitcoins are insured and stored offline, where they are not sensitive to hackers.

The emergence of cryptocurrency is already taking over our day-to-day operations. Cryptocurrency is a digital asset that exists in the crypto world, and many call it “digital gold.” But what exactly is a cryptocurrency? You are interested.

It is a digital asset intended to be used as a medium of exchange. Obviously, this is a close substitute for money. However, it uses powerful cryptography to secure financial transactions, check asset transfers, and control the creation of additional units. All cryptocurrencies are either virtual currency, digital currency or alternative currency. It should be noted that all cryptocurrencies use a decentralized control system, unlike the centralized systems of banks and other financial institutions. These decentralized systems operate through distributed book technology that serves a public financial database. Blockchain is usually used.

What is a blockchain?

This is a constantly growing list of related and protected records using cryptography. This list is called blocks. A blockchain is an open, distributed book that can be used to check and permanently record transactions between two parties. To ensure that the block is used as a distributed book, it is managed by a peer-to-peer network that collectively follows the protocol for the approval of new blocks. Once the information is recorded in any book, all other blocks cannot be changed without replacement. Therefore, blockchains are safe in terms of design and at the same time serve as an example of a distributed computing system.

History of cryptography

American cryptographer David Chaum has discovered an anonymous cryptographic electronic money called cash. That was in 1983. In 1995, David did this through Digicash. Digicash was an early form of cryptographic electronic payment that required user software to extract notes from a bank. It also allows special encrypted keys to be assigned before being sent to the recipient. This property allowed the digital currency not to be tracked by the government, the issuing bank or any third party.

Bitcoin was created in 2009 after increasing efforts in the following years. It was the first decentralized cryptocurrency and was created by pseudonymous designer Satoshi Nakamoto. Bitcoin used SHA-256 as a cryptographic hash function (business proof scheme). Following the issuance of Bitcoin, the following cryptocurrencies were also issued.

1. Namecoin (April 2011)

2. Litecoin (October 2011)

3. Peercoin

It is called three coins and many others altcoins. The term is used to refer to alternatives to bitcoin or simply other cryptocurrencies.

It is also important to note that cryptocurrencies are exchanged over the Internet. This means that their use is primarily outside the banking system and other government agencies. Cryptocurrency exchanges include the exchange of cryptocurrency for other assets or other digital currencies. An ordinary fiat is an example of an asset that can be traded with a cryptocurrency.

Atomic Swaps

These are the proposed mechanisms by which one cryptocurrency can be exchanged directly from another cryptocurrency. This means that there will be no need for third party involvement in the exchange of nuclear swaps.

In 2017, Bitcoin experienced a huge increase, and people made a lot of money in the process. Today, Bitcoin is one of the most profitable markets. If you are just a beginner, you may want to do your homework before investing in Bitcoin. The 5 expert tips below will help you avoid some common mistakes when trading Bitcoin.

1. Learn the basics first

You may want to learn the basics first to get a better idea of ​​how to buy and sell Bitcoin. In addition, you may want to read reviews of popular Bitcoin exchanges to find the best platform.

As with other financial investments, you may want to find ways to protect your investment. Make sure your assets are safe against fraud and cyber attacks. After all, security is the most important aspect of any type of investment.

2. Consider market value

It is not a good idea to make such a decision based solely on the price of the coin. However, the value of a cryptocurrency is only valid if it takes into account the current supply in circulation.

If you want to buy Bitcoin, do not pay too much attention to the current value of the currency. Instead, you may want to consider total market capital.

3. Invest in Bitcion instead of Mining Bitcoins

The Bitcoin mining industry is rapidly gaining popularity. At first, it was not difficult to earn Bitcoin by breaking cryptographic puzzles. Later, it was possible to withdraw Bitcoin only in special data centers.

These centers are full of machines designed for Bitcoin mining. If you want to build a mining center at home today, you may have to spend millions. So it is better to invest in Bitcoins.

4. Diversify your investments

New Bitcoin investors have a short-term passion for cryptocurrency. In fact, you can diversify your investment risk with Bitcoin. If you invest in cryptocurrency wisely, you can enjoy the rewards you earn by investing in Forex. All you need to do is put together a solid risk management strategy.

In other words, you may not want to put all your eggs in the same basket. So you may want to invest in other cryptocurrencies as well.

5. Set clean goals

Since Bitcoin is a new market, you may have difficulty knowing the right time to trade Bitcoin. The value of Bitcoin is volatile, meaning you should have clear targets for profit and loss.

You do not want to make mistakes by making investment decisions based on your feelings. Taking wise steps can help minimize losses and make good progress.

In short, if you are going to invest in Bitcoin, we suggest you follow the tips given in this article. This will help you to make wise decisions and at the same time be on the safe side. Just make sure you avoid common mistakes when managing this business.

Bitcoins have become a very popular and popular form of currency over time. However, what exactly is Bitcoin? The following article will look at the inputs and outputs of this currency, which originated from nowhere and spread like wildfire. How does it differ from ordinary currencies?

Bitcoin is a digital currency, it is not printed and never will be. They are conducted electronically and no one controls it. They are produced by the people and businesses that created the first form of money known as cryptocurrency. Although normal currencies appear in the real world, Bitcoin passes through billions of computers around the world. From bitcoin in the US to bitcoin in India, it has become a global currency. However, its biggest difference from other currencies is that it is decentralized. This means that no specific company or bank is its owner.

Who created it?

Satoshi Nakamoto, a software developer, proposed and created Bitcoin. He saw this as a chance to have a new currency in the market, free from the central government.

Who prints?

As mentioned earlier, the simple answer is none. Bitcoin is digital, not a printed currency. You can even make online transactions using Bitcoins. So you can’t issue unlimited bitcoins? Absolutely not, Bitcoin is never designed to “mine” more than 21 million bitcoins in the world at once. Although they can be divided into smaller parts. One hundred million of Bitcoin is called “Satoshi” in honor of its creator.

What is Bitcoin based on?

Bitcoin is based on gold and silver, mainly in appearance and for traditional use. But the truth is that Bitcoin is actually based on pure mathematics. There is nothing to hide because it is open source. So anyone can look at it to see if it works as they claim.

What are the features of Bitcoin?

1. As mentioned earlier, it is not centralized. It does not belong to any specific company or bank. Each program that produces bitcoins forms a network and they work together. The theory was, and it worked, that if a network crashed, money would still flow.

2. Easy to install. Unlike large banks, you can create a Bitcoin account in seconds.

3. This is anonymous, at least in part because your Bitcoin addresses are not linked to any personal information.

4. It is completely transparent, all transactions using bitcoins are shown in a large diagram known as a blockchain, but no one knows that it is you because no name is associated with it.

5. Transaction fees are small and compared to a bank commission, rare and small commissions Bitcoin costs are close to nothing. It’s fast, very fast. Wherever you send money, it will usually arrive a few minutes after processing.g. This is undeniable, meaning that once you send your Bitcoins, they disappear forever.

Bitcoin has changed the world and how we look at money. Many people are wondering whether it is possible to live with bitcoins. Some have even tried it. However, Bitcoin is now part of our economy, a unique type of currency, and it will not disappear soon.