A Short Guide to Understanding Bitcoins

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In this ebook, you will learn about Bitcoin, a digital monetary system that exists, primarily on the Internet. Bitcoins are virtual, which means there are no physical Bitcoins to be found anywhere in the world. Bitcoins are merely a means of conveying value electronically. Instead of “dollars,” the unit of currency is referred to as a “Bitcoin.” Like traditional money, bitcoins can be used to store and transfer value among other bitcoin users within the bitcoin community. Bitcoin is considered a cryptocurrency. The currency utilizes cryptography for management and creation of the currency. 

Essentially, anything that can be done with conventional currencies can be done with bitcoins. It’s possible to buy and sell goods and services, give money to other individuals or organizations, or even provide credit to others. Bitcoins can be bought, sold, and exchanged for other currencies. 

Bitcoin is considered by many to be the ideal currency. It’s secure, free from borders, and very fast. It works through a so called bitcoin protocol, which makes it possible to perform transactions on your smartphone, computer, tablet, and other computing devices. It’s easily accessible to anyone with common available technology. 

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