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.
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.
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.
How Does It Work?
Bitcoin transfers value between wallet addresses in the form of transactions that get included in the blockchain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they've come from the sender.
Who uses Bitcoin?
With a truly global community and nearly a decade behind it's belt, Bitcoin has many strong supporters. Some of the top entrepreneurs in world have been strong advocates of Bitcoin.
"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.
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.
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.
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.
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 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.
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