News Cryptocurrency Bitcoin – Understanding the Basics 2022

It has been more than a decade since cryptocurrencies began to fascinate people through social media and especially through the internet. Bitcoin has been able to rank among the top cryptocurrencies today, no one knows about the exact origin of the currency but it emerged in mid 2008 related to the Japanese pseudonym “Satoshi Nakamoto”.

So, what exactly is this Bitcoin Currency and why has it been able to maintain its position in the financial market. Well, the reasons listed below can give you an idea of ​​its popularity and evidence of its safe future existence.

  • Bitcoin is the first decentralized digital currency.

  • Bitcoin is an independent free-floating currency that is not owned by any government or linked to any other currency to influence its value wisely by economic indicators that regulate the value of traditional currencies.

  • With its growing popularity among the masses, it now enjoys increasing acceptance rates at all levels, for example, you can now buy goods with the Bitcoin cryptocurrency directly and also trade them on various platforms such as CoinBase, Bitfinex, Bitstamp, Kraken and many more.

  • All you need is a wallet and internet connection to make peer to peer Bitcoin transfers.

  • In most cases, the transfer is instantaneous.

  • Convenience of transacting via the internet or your mobile phone with a few clicks.

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

  • When transferring money via conventional methods, you have to pay a fee depending on the volume of your transaction and furthermore, this transfer is subject to your regional and state regulations. While transacting in the Bitcoin cryptocurrency does not require you to be bound by any state regulations and furthermore, you are not incurring huge fees for the transaction.

  • Since you are the only one with access to your e-wallet, your coins are always safe with you and no one can steal your money. Processes and transactions are transparent as the general ledger is shared and anyone can verify transactions anytime from anywhere around 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 acceptability of the cryptocurrency Bitcoin, we can safely assume that the future of Bitcoin is not only secure, but also quite bright and this innovative payment method will remain.

Source by Johnson Emanuel

Related Articles


Your email address will not be published. Required fields are marked *