What Is A Cryptocurrency?

We were in 2008 when a software developer called Satoshi Nakamoto created the first cryptocurrency, Bitcoin. Financial regulators started having nightmares with it and, as people started to support the idea, they had to accept that the traditional financial sector was experimenting disruption.

Since then, it is undeniable that Bitcoin had its ups and downs but, contrary to what many predicted, it is still alive.

What is a Bitcoin and why is it different from other currencies?

It is a cryptocurrency that allows users to transfer money directly to each other without an intermediary. Bitcoins aren’t printed, they are created digitally unlike every other currency (dollar, €uro). The system is easy to use, they don’t charge you the same expensive transaction fees that banks do and every transaction detail is stored in what they call the blockchain. But the most important difference to conventional money is that Bitcoin is decentralized, which means that it isn’t controlled by one central authority.

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