A BIT ABOUT BITCOIN
It is the first cryptocurrency developed and therefore, the one that has paved the way for all the others that came later using its technology called blockchain or Blockchain.
There is an amount of Bitcoins that are issued each year and this amount is determined by its algorithm, every 4 years its production is reduced by two, so that only a total of 21 million Bitcoins are issued.
Here we have the big difference with conventional currencies, since banks modify the value. This offers the cryptocurrency, in this case the Bitcoin can offer more stability while the conventional one is devalued.
Nowadays, cryptocurrencies are used as a payment method in many platforms, the currency of exchange in most cases is Bitcoin, as they are secure and private.
MAIN ADVANTAGES OF BITCOIN
- Speed: Send money regardless of the amount and destination, in a matter of minutes.
- Economic: When making a transfer through your bank it can cost you a lot of money, through Bitcoin the cost is free or just a few cents.
- Global: You can send anywhere in the world, it has no borders.
- Decentralized: No government/bank can control it, neither in its creation nor in its distribution.
- Ownership: The money belongs to you at 100%, it cannot be tapped by anyone, you are your own bank.
- Transparent: All transactions are public, but always under pseudonyms.
- Limited issuance: No one can generate thousands of Bitcoins just because they feel like it, they appear thanks to mining.
- Private: Bitcoin tries to preserve privacy, to a very high degree, although it is not completely anonymous it works to be so.