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History

Surely you remember the global economic crisis of 2008. It was already 13 years ago, but the impact it had was tremendous. So much so that in 2009 the first cryptocurrency appeared for the first time. It was created by a certain Satoshi Nakamoto. A person whose identity remains unknown. That first currency was Bitcoin.

But why would anyone create a completely virtual currency, and what does the economic crisis of 2008 have to do with it? Well, what led these people or these identities to create Bitcoin was born because of the impact of the economy and the currencies regulated by governments. Satoshi Nakamoto had the need to develop a type of currency that was utterly different from the conventional one, which belonged to the people and could not be controlled by anyone.

Decentralized

Everyone always seems to talk about cryptocurrencies being a wild horse. Which will either get out of hand or lose value before we know it. But all that is a side issue, which doesn’t really matter. Because cryptocurrencies have security, which other currencies cannot achieve.

The power of cryptocurrencies lies in the fact that they are decentralized currencies of significant authorities—both financial and political. Because of the misuse of currencies, cryptocurrencies have chosen to have their own independence. In which the value fluctuates according to the use and demand for the cryptocurrency.

What you have to be clear about is that nobody controls cryptocurrencies. Therefore, you alone are responsible for the use you make of them.

Speed

Speed is another aspect that is entirely unique to cryptocurrencies. Keep in mind that there is no need for any financial authority to check whether the transaction gets done correctly or not. It all depends on the user and the recipient where the money is going to go.

Moreover, the blockchain system and the cryptocurrency miners are the ones that regulate the speed of the transactions. Each blockchain is in charge of passing the money back and forth. The miners work continuously to maintain the flow. One trick to speed up the transaction speed is to tip the miners. So that they include your transaction on the first available blockchain.

Transparency

Nothing would make sense in cryptocurrencies without transparency. Otherwise, we would be back to the crisis of 2008, which was clouded by fraud and financial corruption.

Cryptocurrencies are the people’s currency because they allow everyone to use them as they see fit. As long as it is done responsibly. Because one of the priorities of all cryptocurrencies is to prevent money laundering. For this reason, blockchains employ the most advanced and sophisticated technologies to always guarantee transparent, legal, and honest use.

Global Currency

We all know that the US dollar belongs to the United States and that the euro belongs to a large part of Europe. But who said that virtual money has to belong to only one part of the world? The significant advantage here is that cryptocurrencies belong to the whole world.

Thanks to blockchain technology and the global internet, cryptocurrencies are available in all countries where they are legal. That means you can pay at a crypto casino with the currency of your choice, wherever you are. As long as that casino is available in your region.

The Crypto Wallet

The word ‘Wallet’ has become part of the online dictionary in recent years. As an alternative method of online payment, the use of E-Wallets is becoming more and more common. But cryptocurrencies also have their own wallets, which are the place where we keep our money.

These crypto wallets come with everything necessary to ensure security. You have the keys to the transactions, and since they are 100% virtual, there are also several security measures. So that you always have your money, wherever you are.

Anonymity

For a lot of people who end up using cryptocurrencies, their main priority is anonymity. This is, in fact, one of the most notable aspects of cryptocurrencies. This has made many people think that crypto is the perfect excuse for money laundering. But in fact, it is quite the opposite. Because thanks to the high security and decentralization of the currency, anonymity is almost mandatory.

So if you want to make transactions with, say, Bitcoin or Ethereum, your personal data is not essential. What is important here is your wallet and the keys and keys you have at your disposal. Everything that has to do with your own identity is not crucial for cryptocurrencies, which elevates it to a status of anonymity that no other currency attains.