What is bitcoin ?
You can do electronic payments with bitcoins:
- Via the Internet
- From person to person
- For almost nothing
- Within a few minutes
- As anonymous as you want it yourself
- Just as easily as you send an email
- Without the intervention of a bank or other entity .
To put it simply: bitcoins are digital money and so you can use them just like you would do with euros or dollars. You can buy goods with it, they mutually exchange, they received in exchange for a service, it speculate or exchange them again for example euros. And these are just a few of the almost innumerable applications.
Bitcoin is the first digital currency that is completely decentralized set up, which means no banks or other authorities to be useful to exchange bitcoins. The bitcoin network consists entirely of other users, like you, use bitcoins. This decentralized structure, combined with strong encryption, bitcoin is a safe and free currency.
(Almost ) no transaction costs
If you pay with bitcoins there is no middleman , transaction costs are minimal or nonexistent if you want. There are no long waiting until money has been transferred and Bitcoins are ( almost) infinite severable , so you can one – thousandth of one bitcoin bitcoin transfer.
Anyone can buy unlimited bitcoins, sell, accept, and you can even make! Sending bitcoins is as easy as sending an email, all you need is a bitcoin address and an active internet connection. There are no restrictions or conditions attached to the use of bitcoin!
The bitcoin protocol is open source, meaning that anyone can understand and contribute. Open source makes it free of charge and free to use by everyone.
Tips for new bitcoin users
- Bitcoin is still in its infancy, make yourself aware of all the opportunities and all risks associated with Bitcoin.
- Always Encrypt your wallet with your Bitcoins.
- Make regular backups of your wallet and / or private keys .
- Take special care with online Bitcoin services, put not too much money.
- Always use different complex passwords for all your accounts.
- The Bitcoin exchange rate fluctuations between can be severe , take that into account .
- A Bitcoin payment is irreversible, always check the details when you make a payment.
Bitcoin and Bitcoins?
Now you may think, there is Bitcoin and there are bitcoins , what is the difference? Bitcoin is to bitcoins as email is to emails. Bitcoin is the protocol which makes it possible to send and bitcoins value , the actual value units which are transmitted in a transaction.