Bitcoin 101 – What Is Bitcoin?

What is Bitcoin?

Bitcoin is a digital currency. It’s a type of money that is exchanged over the Internet. You can buy things with it, just like you would any other form of money.

Bitcoin has been around since 2009. It started out as an open source project by an unknown programmer or group of programmers. They named their currency bitcoin because they wanted to be true to the principles of the internet.

They also wanted to make sure people knew that it was not a scam.

Why do I care about this?

I think Bitcoin is a great idea and is going to change the world. The way it works is that you have your own wallet. You send and receive bitcoins from your wallet to others. There is no central bank or government controlling how much you can get. The supply is limited to 21 million. When someone receives a bitcoin, it is like receiving a check. You can use it to buy anything online.

There is a fee for each transaction. This fee is paid to the person who is providing the service. You can use your own wallet or one provided by a third party.

How does it work?

It is very similar to how a credit card works. You can purchase items using bitcoins. You can even use bitcoins to pay bills. You just need to enter the information into a website. Then the payment is processed through your chosen payment processor.

You can also exchange bitcoins for other currencies. For example, you can exchange bitcoins for dollars or euros. If you hold bitcoins, you can sell them at a price that is higher than what you bought them for.

Is there a limit to how many bitcoins I can buy?

Yes. There is a limit to how many bitcoins you can buy. Currently, the maximum number of bitcoins you can buy is 21 million.

Can I spend my bitcoins?

Yes. You can spend your bitcoins at any time. However, you will need to convert your bitcoins to another currency before you can spend them.

What is the difference between bitcoin and other currencies?

There are many differences between bitcoin and other currencies. The most obvious one is that there is no government controlling the value of the dollar or euro. In fact, governments are actually trying to stop people from using bitcoins.

Another big difference is that there is no central bank. This means that if you hold bitcoins, you are in complete control of your money. You can buy anything online with your bitcoins. There is no middle man.

Can I spend bitcoins at stores?

Yes. Many companies accept bitcoins as payment. These include Dell,, and Virgin Galactic. Some stores accept bitcoins directly. For example, a store called Lamassu accepts bitcoins as payment.

Is there a cap on how many bitcoins I can spend?

No. You can spend as many bitcoins as you want.

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