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Know what virtual currencies are and how they are managed

July 1, 2017
Virtual currencies.

¿Virtual currencies? Are we at the stage where everything is bought now with currencies that only exist on the internet? Let's see what are they and how are they handled. ENTERS!

 

WE START:

For some it is unknown that within the internet there is a currency with which you can also buy items as if it were normal money, this is a virtual currency which has great advantages over the traditional system

What are Bitcoins?

The bitcoins They are virtual currencies with which we can buy items or services, it came out for the first time in 2009, something that makes this currency attractive is that the government and no public or private institution have control over it, just like the money we handle every day. to day, the bitcoin  it can also increase or decrease in our accounts depending on our income.

The value of this currency is based on supply and demand, this is done through an algorithm that is responsible for measuring transactions and movements in real time, in the management of this currency there are no intermediaries, since the transactions they are made from person to person.

How do Bitcoins work?

To be able to handle this currency it is necessary to have installed a application either for cell phone or computer, with these applications you can create a  bitcoin wallet, once you have the purse, a direction, which is the one that is passed on to other people to make payments and transactions, this address is only used once and more addresses can be requested when necessary.

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How to earn Bitcoins?

There are different ways to obtain bitcoins, the first and most popular is accepting it as payment method or the purchase and sale of products or services, but paying with this currency, the second is the exchange of a conventional currency for bitcoins, this process can be done in the bitcoins markets.

Another way to win bitcoins It is through mining, this is the process in which the resources of your team are used to process transactions and that the security of the network is guaranteed, there are miners distributed in all countries, which makes this process completely decentralized.

All it takes for anyone to become a miner is to have a softwareY hardware specialized, in this way you can be aware of the transactions that are announced on the network and perform the tasks to process and confirm these transactions.

The people who take care of undermine They cannot carry out any fraudulent action since the same network will be in charge of rejecting any block that contains invalid data.

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