Bitcoin is a virtual currency circulating on the internet since its creation in 2009 by “Satoshi Nakamoto” (this is a pseudonym; nobody knows who the true creator of bitcoin is). Bitcoin is the first currency without a bank, and it performs the same functions as a traditional currency. Click here to know about біткойн.
Functions of Bitcoin
Unit of account
The bitcoin makes it possible to evaluate the value of a good or a service, one can for example determine that a fridge is worth 2 bitcoins. Visit this site to know about биткоин.
Trade Facilitation
You can sell goods and services in exchange for bitcoins (as opposed to bartering for example)
Savings
It is possible to store bitcoins for future use rather than immediately
The Features that make It truly useful and different
It is not owned by any state or country and can be used worldwide equally.
Its exchange is international, you can make changes to euros, dollars or any other currency and vice versa, like any currency.
There are no intermediaries. Transactions are made directly from person to person, which makes these movements cheaper.
It is decentralized
It is not controlled by any state, bank, financial company.
Its falsification or duplication is impossible thanks to a sophisticated cryptographic system.
The transactions are irreversible
Preserve your identity completely, it does not need to ensure it when making any type of transaction. Absolute privacy.
The money belongs to you 100%; it cannot be intervened by anyone nor can the accounts be frozen.
Your market price never stops and your market is traded 24 hours a day and 365 days a year, so you know its value at all times, without waiting for the opening of markets.