Review on Bitcoin by crypto Oda

Name: Bitcoin
Item: Bitcoin
Rating: 5

May 15, 2020

bitcoin comment

﻿ Being the first digital currency, used and distributed electronically. It works as a decentralized network. No institution or person controls its emission. The production of each Bitcoin is maintained digitally. Its main advantage is its independence from world governments, banks and corporations. No authority can interfere with BTC transactions.
﻿Trading in BTC can take a few minutes to complete and depends on the platform on which the trading will take place. Transactions are generally fast. Alzó if we use Bitcoin, our data remains anonymous, since the wallet that we have to load and spend our coins is not linked to any type of personal information. Tracking a particular bitcoin address to a person is said to be almost impossible.
﻿One downside is that transactions are irreversible once a transaction is made  within the bitcoin blockchain, there is no way to reverse it. It is recommended to verify that everything is correct before performing any type of operation.
Another disadventage is that it is not currently a currency used in all businesses. Bitcoin is a relatively new form of payment, so it is natural that options are still limited.
Furthermore, due to its exchange rate that is constantly fluctuating, BTC becomes an excellent investment opportunity. Before we can buy a bitcoin, we need to have a wallet and where we can have these digital currencies. 
There are online wallets that are susceptible to hacks by computer criminals, and may compromise our founds at any time. In the other hand, hardware wallets are much more difficult to hack and this implies that our funds are more secure within these wallets. However, of this hardware is damaged or lost, we would lose all the funds that we had stored.
Cryptocurrencys give people the freedom to send and receive money within just a QR code scan or a click in an online folder. It takes very little time, there are no outrageous fees and the money goes from person to person without unnecessary intermediaries; all you need is to have internet access.
Because bitcoin is fully digital, virtually any sum of money can be carried on a flash memory drive, or even stored online.
No one can control bitcoin transactions forma us, which means that no one can withdraw money from our account unless they have our authorization to do so. All of our funds are safe within the bitcoin blockchain network and no one can steal or touch them. Unless you have compromised tour virtual wallet and it is exposed to a hack.
In some countries the use of this cryptocurrency is prohibited, and even illegal.
Its value is unpredictable, it changes rapidly and drastically, which can cause significant financial harm to a reckless investor who doesn't really know how the market works.
Bitcoin technology continues to develop, always seeking to improve. In addition, it continues to grow as developers develop the proyecto.
Bitcoin was designed as a currency that can resist any counterfeiting attempt. BTC's legitimacy is guaranteed by blockchain technology, as well as by various defense mechanisms built into each algorithm that is used within the network.
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