Bitcoin cryptocurrency – understanding the basics

It has been more than a decade since cryptocurrency began to fascinate people through social media, and especially over the Internet. Bitcoin was able to rank among the leading cryptocurrencies today, no one knows 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 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 secure 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 in order for the economic indicators that govern the value of traditional currencies to affect value.

  • With its growing popularity among the masses, it now enjoys 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 more.

  • All you need is a wallet and an internet connection for equal Bitcoin transfer.

  • In most cases, transfers are instantaneous.

  • Convenience of performing transactions via the Internet or mobile phone in 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 by conventional methods, you must pay fees depending on the volume of your transactions and further, these transfers are subject to your special regional and state regulations. Although a transaction in Bitcoin cryptocurrency does not require you to be bound by any government regulations, in addition, you do not incur large 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 common public ledger and anyone can check the transaction at any time from anywhere in the world using the internet.

  • Another advantage of owning a Bitcoin wallet for cryptocurrencies 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 that this innovative method of payment is here to stay.