Bitcoin

What is Bitcoin

Bitcoin is a digital currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. No middle man is required when making transactions with Bitcoin, which means that there no banks involved and in turn very little to no transaction fees.

Bitcoin Wallets

Bitcoin transactions are sent to and from electronic Bitcoin wallets, and are digitally signed for security. Every transaction that takes place is recorde in the block chain. This means that everyone in the network knows about the transaction and the history of the transaction can be traced back to the point of origin. All transactions are done anonymously so as to everyone involved privacy.

Who prints Bitcoins

Bitcoins have no physical form, they are created and distributed digitally. Bitcoins are not printed like Dollar bills. They are produced by lots of people running computers all around the world, using software that solves mathematical problems, this is known as mining. In theory anyone can mine Bitcoin, however it has become a lot harder for solo mines as large organizations have begun to operate an immense amount of serves to produce this cryptocurrency.

Transaction fees

Cryptocurrency has become more popular thanks to the extremely low transaction fees. When making bank transfers there is generally a large fee for each transaction. With Bitcoin there is no transaction fee. Another plus side to using Bitcoin is the time it takes for a transaction to be processes. As soon as a payment has been made and processed within the block chain, the transaction will take place, as opposed to having to wait days sometimes with the banking system.

Anonymity with Bitcoins

With us you are able to trade anonymously with Bitcoins. You don’t need to verify your account by showing your ID or giving your address information. You are not required to provide any kind of hard currency. Just deposit your Bitcoins and start trading without any further verification! It is as effortless as creating an account and deposit your Bitcoins. Shortly after that, you are free to trade, simple as that!

*only applies if you own Bitcoin, if the Bitcoins are purchased through us you will be required to verify your account