Can I buy and sell Crypto on Robinhood same day? The difference between Bitcoin and other currencies, Bitcoin is controlled by intelligent mathematical algorithms that encrypt all transactions in its system called the blockchain, the difference between Bitcoin and other currencies, transactions remain confidential and at the same time all transactions are public in their record since the first transfer of Bitcoin between two wallets.
The difference between Bitcoin and other currencies, what is Bitcoin, and the difference between Bitcoin and the regular local currency, Bitcoin is decentralized in the sense that there is no party controlling it, issuing it, or controlling its price. There is no financial center or services for Bitcoin anywhere around the world.
The creator of Bitcoin is an entity, person, or organization under the name of Satoshi Nakamoto. This latter proposed bitcoin in a study he conducted and explained the electronic currency based on mathematical equations, and the idea was to produce a currency independent of the influence of central banks, providing flexibility in dealing in addition to very low transaction fees. Or none.
What is Bitcoin in detail?
A simple and easy explanation of what is Bitcoin, Bitcoin is not like the rest of the currencies printed by central banks, which is a currency whose value gained from people's trust in the governments that issue it. And it is not like the dollar, the most famous economic currency in the world, and it is not like the euro, which is controlled by central bodies such as banks and local and international economies.
Bitcoin wallets are mostly electronic, meaning a dedicated Bitcoin wallet on your phone or computer, or a separate wallet in the form of USD.
The difference between Bitcoin and other currencies, Bitcoin is digitally produced by the contract, that is, people around the world run the Bitcoin system on their computers, and anyone can participate in the Bitcoin production process.
Bitcoin trading is produced through a process called Bitcoin mining by powerful computers connected to the Internet, the difference between Bitcoin and other currencies, this network is called the blockchain.
