Bitcoin Cryptocurrency – Understanding the Basics

It’s been more than a decade since cryptocurrency started to captivate people over social media and especially the internet. Bitcoin managed to rank among the top cryptocurrencies today, no one knows about the exact origin of the currency, but it originated in mid-2008 with 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 a proof of its future safe existence.

  • Bitcoin is the first decentralized digital currency.

  • Bitcoin is an independent free-floating currency that is neither owned by any government nor linked to any other currency to be influenced in value by economic indicators that govern the value of traditional currencies.

  • With its growing popularity among the masses, it now has an increasing level of acceptance at all levels, for example, you can now directly buy products with Bitcoin cryptocurrency, as well as trade on various platforms such as 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 conducting transactions over the Internet or your mobile phone in a few clicks.

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

  • With traditional money transfers, you have to pay a fee depending on the volume of your transactions, and then these transfers are subject to your specific regional and state regulations. It does not require you to be bound by any government regulations when transacting with the Bitcoin cryptocurrency, and moreover, it does not require large transaction fees.

  • Since you are the only person with access to your e-wallet, your coins are always with you and no one can steal your money. Due to the shared public ledger, the process and transactions are transparent and anyone can verify the 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.

Given the growing popularity and acceptance 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.