What are cryptocurrencies?

Virtual money is already a reality

Technology is evolving by leaps and bounds, and with it, society is also undergoing accelerated changes that affect it in all senses. We have infinite possibilities to streamline processes and carry out tasks of any kind in a simpler way than ever thanks to the advances we are experiencing at a technological level. In short, everything is changing.

And one of the most notable changes seems to be money. That which started as a barter, or even with salt, and which has mutated to shape coins and paper, may be about to give another paradigm shift with the arrival of cryptocurrencies. An alternative currency designed to make online payments and for which more and more users are opting, as well as more and more detractors arise.

The stock market is one of the most noticeable. All kinds of brokers, both online and not, begin to contemplate cryptocurrency as another element to speculate with, especially thanks to the purchase and sale of Bitcoin, which recently has come up with an alternative called bitcoin cash. Many specialists in the stock market have already joined this phenomenon, taking advantage of the fluctuations of this digital currency and many others (Litecoin, Ethereum, Dash, etc.) to try to make money.

In spite of everything, skepticism continues to prevail in many sectors. As reported from the portal www.crypto-economy.net, specializing in all the news related to this new form of digital money, its apparent instability only makes it the focus of criticism that, in addition to this, they consider it unreliable due to the lack of transparency with their payments and control by large economic entities.

Both with support and with detractors, the reality is that virtual currencies are enjoying a growing role throughout the planet. Numerous companies are normalizing their employment, even including them in the payment gateways of products or services; In addition to many other data mining to try to get as much as possible with this gold cybermine.

But what are cryptocurrency really? What is this invisible money that so much expectation and criticism is raising around the planet? We will go on to detail them completely so that you know what they are talking about when they are mentioned.

What are cryptocurrencies

Known as cryptocurrencies, criptodivisas or virtual currencies, they are a means of digital exchange that has a value much higher than that of any other physical currency that exists in the world.

Those known as "miners" are responsible for carrying out a very high number of computer algorithms that decipher encrypted information by which this particular currency is obtained. And no, although it seems that the method can fail, there is nothing further from reality. Trying to skip the procedure to get, for example, a Bitcoin, is a titanic task.

There is no way to "steal" this coin. Well, there really is; but the cost of even trying is so high that it becomes disposable. Basically, it is more expensive to try to do it than to resort to the legal method to obtain this money. As much for the number of calculations as for the processes to be carried out, opting for an alternative route is a madness that does not even arise.

On the other hand, the great advantage of the ciberdivisas is the directness of their transactions. There are no intermediaries or anything that makes the payment procedure more expensive, which allows paying any nation without seeing a fluctuation of prices by intermediary entities or changes by currency values.

Talking about cryptocurrencies without mentioning Bitcoin would be almost a crime. This was the pioneer, the germ of this movement born in 2009. Since its birth, it has grown in an almost unstoppable way, albeit with ups and downs. There are more and more internet sites that accept it as a payment method, such as Dell or Destinia; although there are others, like the giant Amazon, who are still reluctant.

The virtual money is already here, and its presence is increasingly noticeable (to the point that there are traditional establishments that also accept it). There are numerous alternatives within this new sector, enough to assume that it is not a passing thing or an experiment that disappears over time. Cryptocurrencies are beginning to approach at high speed, and they are here to stay as an intrinsic element of our economy.