Frequently Asked Questions
- What are Bitcoins?
Bitcoins are a decentralised Peer-2-Peer digital currency that is used to purchase goods, barter and buy services. A hash key is created using online Wallet services or Software which is used to accept and send Bitcoins. First created in 2009, Bitcoins are now widely accepted by a variety of online merchants with billions of dollars worth of transactions to date.
- How do you use Bitcoins?
Not only is buying, selling and trading Bitcoins extremely easy, but many Vendors and Businesses are now accepting Bitcoins as payment for goods, services and other items. All you have to do is type in the Address to receive the Bitcoins and the system will broadcast the transaction to the network. You can Easily generate QR codes for mobile payments or add your Bitcoin address on T-shirts. There is no limit to the amount of Bitcoin Addresses you can generate and use for transactions.
- How Safe are Bitcoins?
Bitcoins are a relatively safe way to barter and buy due to the fact that no central financial organization is in control or profits from Bitcoins. All of the Bitcoin transactions are publicly available in a data block and Bitcoin addresses can be used anonymously without being tied to your personal information or bank accounts.
- Get a Bitcoin Wallet
A Wallet is used to store your Bitcoins and contains all your Bitcoin Addresses for payments. This enables you to generate new addresses to receive payments and manage funds.
- Buy Bitcoins
You can use LocalBitcoins.com to purchase Bitcoins locally from reputable traders using Cash, Bank transfer, Wells Fargo, Money Pak, PayPal and other Payment Methods.
- Talk on the Forums
Join the web’s most popular Bitcoin message board to chat with other Bitcoiners and learn more about the cryptocurrency. Great place to find answers and ask questions if you need help.