Bitcoin
Open source Peer-to-Peer money
Store of Value
Bitcoin is a digital asset that functions well as a store of value as it can be saved, retrieved and exchanged at a later time predictably.
Decentralized
The Bitcoin network is secured by hundreds of thousands of nodes all over the world providing a higher level of resilience.
Trustless & Secure
The Bitcoin network which started in 2009 has endured many attacks but remains one the most secure blockchains in the world.
Why Bitcoin?
Bitcoin represents a computer science breakthrough and over 40 years of cryptographic research. It’s much more than just “internet money”, it represents a fundamental shift in how people can trade and pass value without dependency on trusted third parties.
Fungibility
What good is money if you can’t spend it? Bitcoin is one of the most widely accepted digital assets on the planet, with an all time high of over 4300,00,000 market cap.
Irreversible Transactions
Bitcoin is the only payment method that is 100% irreversible and cannot be charged back. For this reason you should be careful when sending Bitcoins; be sure that you are sending them to a trusted vendor.
Borderless Payments
You don’t have to worry about crossing borders, rescheduling for bank holidays, or any other limitations one might think will occur when transferring money.
Transparency
All of the transactions on the Bitcoin network are available publicly. It is a public blockchain, so any transaction can be traced back to a wallet address.
Censorship Resistance
The Bitcoin network is the oldest & most proven blockchain on the planet. Being autonomous and decentralized means that the network is resilient against the whims of any one government or jurisdiction.
Control
This could be a strength and weakness depending on your technical prowess, but with custodial services like BitGate, it’s all point and click. Bitcoin give you full control over your money.
The unstoppable, global currency.
Originating from a whitepaper put out by an anonymous cryptographer “Satoshi Nokamoto“, Bitcoin has no central point of failure. There is no person or single organization to take down, be corrupted, hacked or coerced.
260K
Transactions Per Day
363M
All Time Transactions
1. Get an Address
The first thing you need to interact with the Bitcoin blockchain and learn how it works is to get a wallet address. You can get one free here.
2. Buy Bitcoin
Acquiring Bitcoin can be tricky depending on your jurisdiction. We recommend buying it from a registered exchange or licensed vendor.
3. Send Transactions
Once you have a secure wallet and you’ve acquired some Bitcoin, start sending and receiving payments to anyone in anywhere in the world 24/7 365.
Who uses Bitcoin?
Bitcoin represents a computer science breakthrough and over 40 years of cryptographic research. It’s much more than just “internet money”, it represents a fundamental shift in how people can trade and pass value without dependency on trusted third parties.
“Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”
“If you’re a true adventurer and you really want to throw the Hail Mary, you might take 10 percent and put it in bitcoin or Ethereum”
“I think it is working. There may be other currencies like it that may be even better. But in the meantime, there’s a big industry around Bitcoin. — People have made fortunes off Bitcoin, some have lost money. It is volatile, but people make money off of volatility too.”
“Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate.”
“Bitcoin is a remarkable cryptographic achievement.. The ability to create something which is not duplicable in the digital world has enormous value.. Lot’s of people will build businesses on top of that.”
“PayPal had these goals of creating a new currency. We failed at that, and we just created a new payment system. I think Bitcoin has succeeded on the level of a new currency, but the payment system is somewhat lacking. It’s very hard to use, and that’s the big challenge on the Bitcoin side.”
“The fact that people are hacking bitcoins really hard, it almost hearkens back to when banks first started and they didn’t have safe safes and people were going into the banks and just robbing money out of the safe. It actually validates the value of the money itself. I think the fact that you can buy drugs and ammo with it is actually (a) validator of the currency itself.”
Frequently Asked Questions
Do you still have questions about Bitcoin? We understand, there is a lot to take in when it comes to cryptocurrencies and blockchain. Here is a list of some of the most commonly asked questions about Bitcoin.
Is Bitcoin illegal?
No, Bitcoin is not illegal. in most western countries Bitcoin is perfectly legal to buy and possess, although there may be some restrictions in how you trade and acquire it your jurisdiction. Please check the laws in your country or use a custodial wallet like BitGate to be sure.
What are Bitcoin’s advantages?
Payment freedom, choose your own fees, fewer risks for merchants, security and control, transparent and neutral transaction processing are among some of the top benefits of Bitcoin.
Can I make money with Bitcoin?
You should never expect to get rich with Bitcoin or any emerging technology. It is always important to be wary of anything that sounds too good to be true or disobeys basic economic rules.
Is Bitcoin really used by people?
Absolutely. There are tons of people and businesses using Bitcoin each and every day. This includes brick-and-mortar businesses like restaurants, apartments, and law firms, as well as popular online services such as Namecheap, Overstock.com, and Reddit.
Why do people trust Bitcoin?
Much of the trust in Bitcoin comes from the fact that it requires no trust at all. Bitcoin is fully open-source and decentralized. This means that anyone has access to the entire source code at any time.
Is Bitcoin anonymous?
Bitcoin is designed to allow users to send and receive payments with an acceptable level of privacy. Bitcoin is not completely anonymous and cannot offer the same privacy as cash.
Still have a question? Reach out to us here!
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