Bitcoin Cryptocurrency – Understanding the basics

More than a decade has passed since cryptocurrency began to fascinate people through social media and especially the internet. Bitcoin has managed to rank among the top cryptocurrencies today, in the mid-200s a Japanese pseudo name “Satoshi Nakamoto” related to it no one knows the exact source of the currency.

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 uninterrupted secure future.

  • Bitcoin is the first decentralized digital currency.

  • Bitcoin is a distinct floating floating currency that is not owned by any government or it is not related to any other currency that can be influenced by economic indicators that control the value of traditional currencies.

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

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

  • In most cases transfers are instantaneous.

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

  • Your privacy is more secure than other methods of providing information on the Internet where your important information can be leaked and misused.

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

  • Since you only 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 any transaction from anywhere in the world at any time.

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

Considering the growing popularity and acceptance of Bitcoin cryptocurrency, we can safely assume that the future of Bitcoin is not only quite bright and the fancy payment method is here.