What are Bitcoins?
What is bitcoin?
Bitcoin is a form of digital currency, created and held electronically. No one controls it. You can spend it just like you would with Dollars or Euros. You can purchase goods with them, exchange them with other people, receive them as a payment for a service, speculate with them or trade them back in for Dollars, Euros, Yen, or whatever other currency you wish.
Bitcoin is the safest, most secure way of paying for anything online. It is completely anonymous, so if you’re worried about privacy, this is the perfect option for you.
Why use bitcoins?
There are many benefits to using Bitcoins.
With Bitcoin, you can make practically free electronic payments through the internet. Bitcoin transactions fees are very minimal, or is some cases free. The transactions are completely anonymous, happen within minutes, and there is no interference from banks or any other institutions.
Bitcoin is the first digital currency that has been established and is entirely decentralized, which means that there are no banks or any other third parties required in order to exchange Bitcoins. No single institution controls the Bitcoin network. No central authority has control. It is a peer-to-peer electronic cash system. This puts some people at ease, because it means that a large bank can not control their money. No bank or government can take it away from you. You own it.
Bitcoin transactions don’t require you to give up any secret information. Users can hold multiple Bitcoin addresses. They are not linked to names, addresses, or any other personally indentifying information.
Anyone can buy, sell, and accept unlimited Bitcoins.
Easy. Simple. Fast. Secure.
Conventional banks make you jump through hoops just to open an account. However, you can set up a Bitcoin address in seconds. No questions asked. No fees.
Sending Bitcoins is as simple as sending an e-mail. All you need is a Bitcoin Address and an active internet connection. There are no conditions or limitations linked to the use of Bitcoin.
You can send money anywhere in the world and it will arrive minutes later, as soon as the Bitcoin network processes the payment.
This decentralized structure, combined with rock solid encryption, makes Bitcoin perfectly secure.
How to buy Bitcoins.
You will need a place to store your bitcoins. In the Bitcoin world, they are called ‘wallets’. You can think of them as a bank account. The most popular are online and web-based.
Some popular ones are
My Wallet is a free online bitcoin wallet which you can use to make worldwide payments for free. We make paying with bitcoins easy and secure. Be your own bank.
Coinbase is an international digital wallet that allows you to securely buy … Send Bitcoin just like you would an e-mail – it’s fast and free everywhere in the world.
LocalBitcoins.com is a marketplace for trading bitcoins locally for cash or online payments of your choice. In over 200 countries and over 5000 cities around the world.
Instant. Secure. Private.
You can buy Bitcoins from an exchange or an individual.
One of the easiest ways is through localbitcoins.com.
You can open a free, anonymous Bitcoin wallet. You can buy and sell Bitcoins locally in over 200 different countries. The site also provides an escrow service as an added layer of protection for both parties.