What is Bitcoin-BTC?
Bitcoin (BTC/USD) is a cryptocurrency or virtual currency created in 2009. It stands out for being the first cryptocurrency created and for being a decentralized means of payment, that is, it is not backed by any international organization or government and its trust it does not fall on a single central issuer.
It is used as a means of payment for transactions between individuals and companies throughout the world and can be converted to other currencies. Blockchainx, Bitcoins have an important cryptographic system that makes counterfeiting practically impossible.
Characteristics :
- Bitcoin does not use intermediaries , the transactions are direct between the two parties and verified by means of a digital signature.
- It is not necessary to reveal the identity of the person carrying out the transaction, preserving privacy .
- It has a decentralized system , it is not controlled by any state, bank or international institution.
How does Bitcoin work?
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In the case of Bitcoin accounts or addresses, the money that is deposited is not just any currency, but bitcoins (acronym BTC) , the native currency of this system.
In order to use bitcoins , the first thing you must have is the device on which you can install an electronic wallet and, of course, have these cryptocurrencies. If you want to learn how to use Bitcoin, buying and investing, we recommend this course.
The interesting thing about crypto token migration is that you can also create an electronic wallet on your own , be it digital or physical, or buy it from a company that offers it. The most famous in physical wallets is Ledger.
Despite the fact that its use is not yet widespread and many people do not know how this system really works, the truth is that there are more and more places that accept money transactions in bitcoins.
Many online stores, such as Microsoft, Dell, Expedia and G2A allow and facilitate the use of bitcoins. Other stores such as Amazon, iTunes, Starbucks or eBay allow you to obtain gift cards by buying them with bitcoins. In addition, in some online games and other services on the network it is possible to make payments or receive money in bitcoins.
However, despite the more frequent use of these currencies in the digital world, there are also numerous physical stores that allow transactions with bitcoins.
In fact, there are applications that work like maps to find these physical stores around the world. For example, the Coin Map application has registered more than 9,356 businesses of all kinds globally where payment with bitcoins is accepted
On the other hand, more and more countries are accepting and advocating the use of bitcoins. The best known case is El Salvador, since it promoted a law to make bitcoin legal to tend along with the US dollar, forcing all businessmen and merchants to accept it and giving away bitcoins to its entire population.
