Benefits of Bitcoin:

Frequently Asked Questions :

Who owns or controls Bitcoin?

Nobody. Much like the internet, bitcoin is decentralized and not owned or controlled by any one organization. It consists of a network made up of millions computers (known as miners) around the world. Because of it's distributed nature, the Bitcoin network cannot be shut down by any one person or government. At the moment, the computing power of the Bitcoin network exceeds the computing power of the top 500 supercomputers in the world combined.

How can I get bitcoin?

You can buy Bitcoin with cash using an ATM or wire money from your bank to an online exchange like CoinTrader.net or Bitstamp. You can also purchase Bitcoin from someone locally in person by giving them cash.

What can I do with Bitcoin?

You can spend Bitcoin at a growing number of merchants both online and offline. You can also send Bitcoin to any individual person direct. Owe Hayden $20 for Pizza? Send him Bitcoin with your mobile phone.

How do I send someone Bitcoin?

First you need a bitcoin wallet. Wallets are free, anonymous and only take a few minutes to setup. To install a wallet on your computer (Mac or PC) download Multibit at https://multibit.org/ For Android devices, download the Blockchain.info app from the Google Play store. For iPhone, download the "bitWallet" app from the App store.

Once you have your wallet installed, you need to put in some bitcoins. Visit a Bitcoin ATM or ask a friend to send you some. Now that you're set up with a wallet, you can scan a QR code to pay at a business or scan a friend's QR code to send them money direct!

Why is Bitcoin better than a credit card?

Your credit card number can be easily stolen by anyone you give it to online or offline. Bitcoin turns the tables and gives you the control - if you send payment via Bitcoin the transaction is one-time and permanent, protecting both the sender and recipient. Credit cards also charge high seller fees which most sellers pass on to customers in the form of higher prices.

Still confused?

Here's a website that explains Bitcoin in simple terms.

And here's a great article that explains the concept behind Bitcoin even more simply.