What is bitcoins and what is it for?

Bitcoins is a modern possibility that can be part of your daily life, which makes its use gain more and more growth in recent years. You have no idea what that is? Do not despair, many people have doubts about what the bitcoins are all about and what they are for, however, in this article we will uncomplicate that theme for you, check it out!

What are bitcoins?

What are bitcoins?

Briefly and in a simplified way, bitcoins are nothing more than virtual money, that is, money circulating in digital media, making it impossible to draw physical boxes, the opposite of “ordinary money”. It also has its own quotation, usually a bitcoin worth hundreds of dollars.

And how does this “virtual money” work?

To use this credit you must install a bitcoin wallet, done that, request an address, where each one will have the function of a “key” that is only used for one request at a time.

One of the advantages of bitcoins is the possibility of converting “traditional” money into bitcoins, or vice versa, allowing the movement between accounts from any corner of the world.

As there is no institution responsible for monitoring money, – like the Central Bank – one of the most recurrent doubts about its use is the safety of these operations.

After all, is it safe?

In general, yes. What ensures its security is encryption, in which operations are preserved by mathematics, connected to a unique numeric “key” type. In this way, this money can not be falsified or corrupted either.

Are there risks?

Are there risks?

Yes, however, those risks are not related to security, but to the operation of this money, which requires a great deal of caution.

The rich involving the bitcoins refers to the prices that present constant and immense oscillations, instability that offers risks for those who invest. However, it is expected that with their popularity and growth, these values ​​will remain stable.

What are the advantages of using it?

As mentioned above, one of the advantages that stands out is the ease and practicality of executing operations, discarding the bureaucracy of opening bank account accounts or following the tiresome transfer protocols.

The effectiveness of sending small amounts of money abroad is certainly one of the best undisputed alternatives.

For the time being, these transactions are also exempt from the Tax on Financial Transactions (IOF), which makes their use even more attractive. Overall, your growth potential is another advantage worth keeping track of.

Before making any investment, it pays to broaden your knowledge on the subject, considering the advantages and possible risks.

And do not forget. Tightened and ended up in debt? Make a mockup and borrow your personal loan online to get rid of it. Secure loan, simple, fast and no paperwork, only with the Financial Group, you away from the red.


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