Bitcoin has been a topic of discussion in the financial sector. As a matter of fact, bitcoin has exploded onto the scene over the years and many people and many large companies now want a piece of the action on the bitcoin or cryptocurrency bandwagon.
People who are brand new to the cryptocurrency space are constantly asking this question; "What Exactly Is Bitcoin?"
Well, for starters bitcoin is actually a digital currency that is out of the control of any federal government, it is used all over the world, and can be used to store your food, your beverages, real estate, car and other things. can be made to buy.
Why is bitcoin so important?
Bitcoin is not susceptible to things like government control and fluctuations in foreign currencies. Bitcoin is backed by the complete trust of the individual (you) and is strictly peer-to-peer.
This means that anyone who completes a transaction with bitcoin, the first thing they realize is that anyone trying to send money from bank to bank or needing to send and receive money internationally. It is much cheaper to use than to use other services.
For example, if I want to send money to China or Japan I have to charge the bank and for that fee it will take hours or even days for that money to get there.
Why do people want to use bitcoin?
The main reason is that bitcoin is a response to these unstable governments and situations where money is no longer as valuable as it used to be. the money we have now; The paper fiat currency we have in our wallets is worthless and will be worth even less a year from now.
We have also seen large companies showing interest in blockchain technology. A few weeks ago, a survey was conducted of a handful of Amazon customers to see if they would be interested in using a cryptocurrency if Amazon creates one. Her results showed that many people were very interested. Starbucks also hinted at the use of a blockchain mobile app. Walmart has also applied for a patent on a "smart package" that will use blockchain technology to track and authenticate packages.
Throughout our lifetime we have seen that the way we shop, the way we watch movies, the way we listen to music, read books, buy cars, look for homes, now we spend money and money. How do you spend banking?
Cryptocurrency is here to stay. If you haven't already, it's time for anyone to fully study cryptocurrencies and learn how to take full advantage of the trend, which will flourish throughout.
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