The Development of the criptomonedas in Ecuador, responsibility and risk

Abstract

The financial system of Ecuador is done in a traditional market and the population is not familiar with the handling of currencies and criptomoneda, however in the globalization, the criptomoneda is taking its place and Ecuador is no exception. The criptomoneda are in the market and transactions with them are gradually becoming familiar to some Ecuadorians who take the risk of investing taking into account that it is a decentralized currency and that there is no government entity that controls it and regulate; The most important virtual currency, known and used to carry out transactions, is bitcoin.In the course of time, virtual currencies arise due to global problems in the field of economy: In 2009 the first virtual currency "BITCOIN" was created by its creator Satochi Nakamoto and since then they have appeared without number of criptomoneda that have created -to a new criptomoneda market in which more and more people invest and use for their economic management; One of its main risks is volatility because its value is based on the speculation of supply and demand and can generate exuberant profits or tragic losses.In Ecuador, the Central Bank of Ecuador has been very specific informing the Ecuadorians that the criptomoneda within the country are not legal but that we have the freedom and responsibility to carry out the transactions they wish through the internet. The crypto-currency market is very recent compared to the traditional market, criptomoneda is a market of high risk of which there is no greater knowledge and when deciding to make an investment it can become easy prey for scammers and opportunists; without detracting from the fact that in the future, criptomoneda can play an important, revolutionary role in the market of financial systems throughout the world.Key words: Criptomoneda, coin, bitcoin, transactions, crypto currencies, control, internet.