Bitcoin Cryptocurrency – Understanding the Basics

It has been more than a decade since cryptocurrency started to fascinate people through social media and especially over the internet. Bitcoin was able to rank among the best cryptocurrencies today, no one knows about the exact origin of the currency, but it appeared in mid-2008 in connection with the Japanese pseudonym “Satoshi Nakamoto”.

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

  • Bitcoin is the first decentralized digital currency.

  • Bitcoin is an independent, free-floating currency that is not owned by any government or tied to any other currency in order for the economic indicators that govern the value of traditional currencies to affect the value.

  • With its growing popularity among the masses, it is now enjoying an increased level of acceptance at all levels, for example, you can now directly buy things 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 for peer-to-peer Bitcoin transfers.

  • In most cases, transfers are instant.

  • The convenience of making transactions via the Internet or 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.

  • While transferring money using conventional methods, you must pay fees depending on the volume of your transactions and further, these transfers are subject to your specific regional and country regulations. Although a transaction in Bitcoin cryptocurrency does not require you to be bound by any government regulations and besides, you do not incur high transaction fees.

  • Since you are the only one who has access to your electronic wallet, your coins are always safe with you and no one can steal your money. The process and transactions are transparent because of the shared public ledger and anyone can check 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.

Considering the growing popularity and acceptance of the Bitcoin cryptocurrency, we can safely assume that the future of Bitcoin is not only safe, but rather bright, and that this innovative payment method is here to stay.