Bitcoin cryptocurrency – Understanding the basics

It has been more than a decade since cryptocurrency began to fascinate people on social media and especially on the Internet. Today, bitcoin managed to rank among the top cryptocurrencies, no one knows the exact origin of the currency, but it appeared in mid-2008, associated with the Japanese pseudonym “Satoshi Nakamoto”.

So, what exactly is this bitcoin currency and why it has managed to retain its place in the financial markets. Well, the following reasons can give you an idea of ​​its popularity and proof of its continued safe future.

  • 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 in order to be able to influence the value of the economic indicators that govern the value of traditional currencies.

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

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

  • In most cases, transfers are instantaneous.

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

  • Your privacy is secure compared to other online payment methods, where your vital information can leak and be misused.

  • While transferring money using conventional methods, you must pay fees depending on the volume of your transactions, and in addition, these transfers are subject to your specific regional and national regulations. Although transactions in bitcoin cryptocurrency do not require you to be bound by any government regulations and also do not pay heavy transaction fees.

  • Because 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 due to the shared public ledger and anyone can check a transaction at any time from anywhere in the world using the internet.

  • Another advantage of the bitcoin cryptocurrency wallet is that your account cannot be frozen.

Given the growing popularity and acceptability of bitcoin cryptocurrency, we can safely assume that the future of bitcoin is not only secure, but quite bright and this innovative method of payment is here to stay.