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Opportunities and risks of the new internet currency Bitcoin

Bitcoin is virtual money based on a peer-to-peer system. Satoshi Nakamoto has been developing the virtual currency since 2007. The value of the electronic currency arises based on supply and demand. The amount of money cannot be influenced, a fixed upper limit of 21 million Bitcoins is coded in the software.

Bitcoin offers great advantages for consumers who shop over the Internet. The payment process is anonymous and in most cases free of charge. The virtual currency works with an asymmetric cryptography system. Due to the complex encryption process, the electronic currency is considered to be forgery-proof. Some voices warn against Bitcoin. The use of virtual means of payment removes control from the state. The use of electronic currency can have a positive effect on the shadow economy, money laundering, tax evasion and other crimes could cause damage.

But you can also earn good money with the virtual currency, and risky investors have good chances on the stock market. Since the development of the electronic currency, its value has increased dramatically, meanwhile a slight decline in rates has already been recorded. Of course, you can’t say exactly how far the course will climb. Experienced speculators who are willing to take a risk can probably make a small fortune with digital money.There is a huge amount of crypto coins in the world at the moment, the main one of course is bitcoin, but there are many others, one of them is Etherium, you can find it here

Bitcoins require a technical understanding and technical aids. So far, the currency has generated little interest in Europe. The advantages of electronic currency for consumers are clear. A payment transaction with the electronic currency is secure and completely anonymous, and there are no fees. The time required for transactions is shortened, system failures are extremely rare.

In summary, one can say that Bitcoin may have a bright future ahead of it and may soon become a common means of payment on the Internet.

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