The recent news about the virus that has caused a major cyber attack on business interests of almost everyone has put in the first place of information to a currency that until now few knew of its existence. They are the so-called bitcoins and they have become well known for the fact that the terrorists of the networks have imposed the payment in this currency to solve this serious problem. This event has served to highlight the importance of this cryptocurrency.
But, do you really know what it consists of and if you can make some purchases with this means of payment? Well, it is a digital currency that is applied in transactions between individuals. In any case, there is a characteristic that defines it more exactly and that refers to the fact that it is decentralized. What does this mean? Well, very simple, that is not endorsed by any government, much less by central banks around the world. From this scenario, it does not have the official guarantees to carry out a more or less traditional operation. It is completely independent and goes on its own.
Its appearance dates back to 2008 under the protection of the emergence of new information technologies. In an eagerness to globalize payment systems, although its incidence in these times is far from massive. Despite this reality, confirmed transactions carried out cannot be modified, nor can they be canceled. So how do you trade these very special digital currencies? Well, usually through client programs that are materialized in different kinds of applications. But of course it is not a single currency for everyone, as was the initial idea of some of its promoters.
Bitcoins: what are they for?
The main difference with regards to physical currency is that it is electronic. It is valid for exchange any kind of products or services and it is distinguished by presenting a series of contributions that makes Bitcoins an alternative and completely different medium. It stands out for its efficacy and safety to establish a series of commercial relationships between users. In any case, it is closely linked to the emergence of the latest information technologies. It is the true reason for its existence, above other valuations.
One of the doubts that arise to assess its real utility is whether it can be changed to other currencies. As in the cases in which you have to substitute euros for dollars to visit certain or formalize payments. In this sense, of course this operation can be performed. Not only to the North American currency, but to any other, just as you can do with the euro. But with a very important difference from traditional movements. It is none other than is absent from intermediaries since it is only formalized between individuals. That is, directly from person to person. It is one of the main novelties that it presents.
Anonymity in your operations
Another of his most relevant contributions is that you can preserve your privacy when performing operations in bitcoins. Because in effect, you do not need to reveal your identity at any time or under any circumstance. Like it cannot be faked by having a powerful cryptographic system that ensures its integrity throughout the process.
But if there is a characteristic that is inherent to this digital currency, it is that it allows users to make operations cheaper. For a reason as simple as elimination of financial intermediaries. When through the most traditional, it is common to pay surcharges, commissions and penalties in all banking processes. From sending international transfers or payments with credit or debit cards. Even from the online services offered by commercial banking.
In bitcoins, the absence of intermediaries stands out precisely. Since money goes directly from person to person, thus reducing the cost of operations. It also allows the purchase of products at a much more competitive price following this commercial strategy. To the point that these are some of the most valued advantages by the most innovative users.
They are always traded, every day
Another of the doubts that arise when referring to this issue is related to its price changes. Well, it never stops. But on the contrary, it is negotiated at any time and every day of the year. In a similar way to how the other international currencies do it and therefore are receptive to the attention of many user communities. You can even pay off the savings with these very unusual operations in the more traditional financial markets.
It has other denominators in its actions that come to transfer the approaches to whether they can be purchased with this virtual means of payment. In this sense, the answer is yes. But not in banks or financial institutions. But in online financial platforms very specific. At the moment, it even forms a very profitable form of investment. Not surprisingly, its trend has been clearly bullish in recent years. With a stability in its changes that materializes with the passage of time. It cannot be forgotten that they fluctuate like any other currency. Although with its own peculiarities.
For a few months, bitcoin has been setting new highs and is at levels close to $ 2.300. With an annual appreciation that has already exceeded 50%. There is a reason to explain this behavior and that is because it is acting as a safe haven in the face of financial and political uncertainties in certain geographical areas of the world.
Where and how to buy bitcoins?
The only way to buy and sell bitcoins is through some online platforms that are available. Between them the best known and most secure is Coinbase. Registration is a bit tedious since it requires ensuring the identity of the person who is registering, but once you are logged in you can buy and sell bitcoins with a credit card or by bank transfer. In addition to Bitcoins, the platform allows the purchase of the other two most popular currencies after bitcoin: Ethereum and Litecoin. If you want to invest and buy bitcoins you just have to click here y sign up for Coinbase.
Is it a good idea to invest in Bitcoins?
Investing in this cryptocurrency, on the other hand, carries a high potential for revaluation but in exchange for assuming more risks. Not surprisingly, volatility is one of its main characteristics. For this reason, it is highly advisable to use a strategy that takes into account the losses that can be assumed in these operations. And of course, be very disciplined from the beginning. It will be the best way to protect our interests with the best guarantees. However, any fall security breach in your cryptographic system can derail expectations. With a very vertical drop in value.
Very interesting, I did not know much about bitcoins until an acquaintance of mine told me that last year he made a lot of money investing in this currency. Now reading the article it has become much clearer to me what exactly it is about. Thank you!