Bitcoin Cryptocurrency – Understanding the basics

It has been more than a decade since cryptocurrency began to fascinate people through social media and especially the internet. Bitcoin has managed to find a place among the top cryptocurrencies today, no one knows the exact source of the currency but it is related to a Japanese pseudonym “Satoshi Nakamoto” in mid-2008.

So, what exactly is this bitcoin currency and why has it been able to hold its place in the financial markets. Well, the factors listed below can give you an idea of ​​its popularity and a piece of evidence about its continued secure future existence.

  • Bitcoin is the first decentralized digital currency.

  • Bitcoin is an independent free-floating currency that is not owned by any government or related to any other currency to be influenced by price by economic indicators that control the value of traditional currencies.

  • With its growing popularity among the public, it now enjoys an increased level of acceptance at all levels, for example, you can now buy things directly with Bitcoin cryptocurrency and trade on various platforms such as CoinBase, Bitfinex, Bitstamp, Kraken and many more. .

  • All you need to transfer peer to peer bitcoin is a wallet and an internet connection.

  • In most cases the transfer is instantaneous.

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

  • Your privacy is protected compared to other payment methods on the Internet where your important information can be leaked and misused.

  • You will have to pay a fee depending on the amount of your transaction when transferring money through the conventional method and moreover, these transfers are subject to your specific regional and state regulations. You do not have to be bound by any state regulations when transacting in Bitcoin cryptocurrency and in addition, you do not have to pay heavy fees for the transaction.

  • Since only you have access to your electronic wallet, your coins are always safe with you and no one can steal your money. Due to shared public ledger, processes and transactions are transparent and anyone using the Internet can verify a transaction from anywhere in the world at any time.

  • Another advantage of having a Bitcoin cryptocurrency wallet is that your account cannot be frozen.

Given the growing popularity and acceptance of Bitcoin cryptocurrency, we can safely assume that the future of Bitcoin is not only secure but also quite bright and that this innovative payment method remains here.