Cryptocurrency Bitcoin – Understanding the Basics

It has been more than a decade since cryptocurrency started to fascinate people through social media and especially the internet. Bitcoin has been able to rank among the leading 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 an evidence about its future sure and continued existence.

  • 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 to influence the value of the economic indicators that govern the value of traditional currencies.

  • With its increasing popularity among the masses, it now enjoys a greater level of acceptability at all levels, for example, you can now buy things with Bitcoin cryptocurrency directly and also trade it 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 via the Internet or your mobile phone with a couple of clicks.

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

  • While transferring money using conventional methods, you must pay fees based on the volume of your transactions, and such transfers are subject to your particular regional and state regulations. Although Bitcoin cryptocurrency transactions do not require you to be subject to any state regulations and also do not incur 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 because of the shared public ledger and anyone can verify a transaction at any time from anywhere in the world using 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 safe but rather bright and that this innovative payment method is here to stay.