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What Are the Benefits of Bitcoin?
Simple, Fast & Easy to Use
Bitcoin makes it possible to transfer money quickly around the world. It works 24/7 every day of the week. There is no limit or closing time as with the bank.
Very Low Transaction Fees
It only costs a few cents to transfer money with Bitcoin. Compared to banks that charge a fixed fee and in many cases 1.5-3.0% per transaction.
Take Control of Your Personal Finance
Bitcoin works without the need to trust anyone. All payments are made person-to-person without any intermediary or bank. You decide for yourself.
Protect Your Money Against Inflation
An inflation rate of 2% means that you lose half of your money after 35 years. Bitcoin, however, has a limited supply that no central bank can manipulate.
Frequently Asked Questions
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Bitcoin is a digital currency, also called cryptocurrency. More specifically, Bitcoin is an independent, global and public ledger used to transfer and store value. It’s independent because no state or bank controls Bitcoin. It’s global because money can be transferred quickly and cheaply, anytime, to anyone. It’s public because all transactions are stored in a shared ledger. Learn more in this guide: What is Bitcoin?
Blockchain is the underlying technology that allows Bitcoin to work. It is a distributed database of nodes that automatically verify changes to the database. Bitcoin was the first blockchain that was created. Blockchain technology uses a network of nodes along with math and cryptography to protect the database. In addition to being able to transfer money online, there are many more opportunities. More and more cryptocurrencies are created for smart contracts, cloud storage, private messages, gaming companies and much more. The crypto market is booming!
Bitcoin is safer than the current financial system. The cryptocurrency is protected by cryptography and mathematics instead of laws and regulations that contain mistakes and deficiencies from humans. There are and will always be loopholes in laws. However, you can’t trick math.
Yes! It is completely legal to use Bitcoin. Individuals are allowed to use which currency they want as long as both parties agree on the same means of payment. However, there are countries that have indirectly or partially prohibited Bitcoin. The reason for this varies, but generally, the government wants more control over the financial market. Here is a list of all countries’ laws about Bitcoin.
When you don’t use your cryptocurrency, you must store them in a secure Bitcoin wallet. If you keep your Bitcoin and cryptocurrency at an exchange, mobile app or online, you risk losing all your money. The safest way to store Bitcoin is in a hardware wallet. Everyone needs at least one hardware wallet. Learn more in this guide: Bitcoin Hardware Wallet
Bitcoin consists of a network of computers, all of which stores the same ledger. This ledger contains all Bitcoin transactions that has ever been made. All Bitcoins are linked to a public key and the owner of these Bitcoins has a private key. With your key, you can prove that you are the owner of those Bitcoin in the ledger. Learn more in this guide: How Does Bitcoin Work?
There is no individual or group that controls Bitcoin. The system is designed to be independent of states, banks, and companies. There are built-in security measures to prevent anyone from gaining control over the network. To update the Bitcoin protocol, a consensus is required. This makes Bitcoin both decentralized and democratic.
Ethereum is an open source platform based on blockchain technology to create and distribute smart contracts and decentralized applications. If this sounds complicated, it’s because Ethereum is complicated. It is the second largest cryptocurrency after Bitcoin. But don’t worry, we have a complete beginner’s guide about Ethereum.
Buying Bitcoin doesn’t have to be difficult at all! We have a buying guide with simple step-by-step instructions to buy Bitcoin directly with your bank card. Here is the guide: How to Buy Bitcoin
Buying Ethereum doesn’t have to be difficult at all! We have a buying guide with simple step-by-step instructions to buy Ethereum directly with your bank card. Here is the guide: How to Buy Ethereum
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Complete Beginner Guides
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