Cryptocurrency Bitcoin – Understand the Basics

It has been more than a decade since cryptocurrencies began to capture people’s attention via social media and especially online. Bitcoin has managed to rank it among the best cryptocurrencies today, and no one knows the exact origin of the coin, except that 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 position in the financial markets. Well, the following listed reasons might give you an idea of ​​its popularity and evidence of its continued safe existence in the future.

  • Bitcoin was the first decentralized digital currency.

  • Bitcoin is an independent, free-floating currency that is not owned by any government and is not tied to any other currency to be affected by value judging economic indicators that govern the value of traditional currencies.

  • With its growing popularity among the masses, it now enjoys an increasing level of acceptance across the board, for example, you can now buy things with Bitcoin cryptocurrency directly and also trade them on various platforms such as CoinBase, Bitfinex, Bitstamp, Kraken, and more.

  • All you need is a wallet and an internet connection to make a peer-to-peer Bitcoin transfer.

  • In most cases, the transfers are immediate.

  • The convenience of making transactions via the Internet or your mobile phone with 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 through traditional methods, you are required to pay a fee depending on the volume of your transactions and more, these transfers are subject to your own state and regional regulations. While dealing in cryptocurrency Bitcoin does not require you to adhere to any government regulations, moreover, you do not incur heavy transaction fees.

  • Since you are the only person 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 general ledger and anyone can verify the transaction at any time 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 acceptance of cryptocurrency Bitcoin, we can safely assume that the future of Bitcoin is not only secure, but very bright and that this innovative payment method is here to stay.