Start with Bitcoin

Frequently Asked Questions

Now that you know the basics, let’s answer some of the most frequently asked questions.

Where can I learn more?

We keep a curated list of resources here.

Do I need to understand the technology to use Bitcoin?

Absolutely not! Remember in the early days of the personal PC, people built their own computers, and talked about CPUs, RAM and serial interfaces? Today, you just switch on your MacBook or iPhone. In a similar way, we’re still in the early phases of Bitcoin, and most of the people involved are techies. Don’t let that stop you from getting involved!

What if I want to know how it works, technically?

You really want to know? OK, we’ve added a technology explainer here.

I’ve heard Bitcoin is not the only “cryptocurrency”

Correct, in fact there are thousands! The two main ones are Bitcoin and Ethereum. Ethereum, rather than trying to be “digital money” like Bitcoin, is trying to create a worldwide, internet-based “computer”, that uses Ethereum as the currency with which “processing” is paid.

At the time of this writing, if you add up the value of all the world’s cryptocurrencies (excluding the ones that simply represent a government currency like the US dollar), Bitcoin and Ethereum make up 77% of the entire value.

Is “Bitcoin Cash” the same thing as Bitcoin?

No, it’s completely different and unfortunately the source of much confusion.

Since Bitcoin is “open source software”, anyone can copy it anytime—and in fact, many have! In the early days of Bitcoin, a group copied it and called it Bitcoin Cash. As you can see from its price, it never gained the popularity of the original Bitcoin.

To make sure you buy the right thing, the symbol for the original Bitcoin is “BTC”.

I’ve still got some questions.

Feel free to reach out, and I’ll try my best to help.

  1. 1
    What is Bitcoin?
    Bitcoin is the internet’s native form of money.
  2. 2
    How does Bitcoin work?
    This is where things get a little tricky, but it’s actually simpler than it seems at first.
  3. 3
    What’s special about Bitcoin?
    Bitcoin has a number of characteristics that make it unique!
  4. 4
    What is a bitcoin worth?
    Just like all assets, Bitcoin is worth whatever the market decides it’s worth.
  5. 5
    Should I own some bitcoin?
    That’s up to you, but here is how some of the world’s most successful people answer that question.
  6. 6
    How do I get some bitcoin?
    You can buy bitcoin with a bank transfer, debit or credit card.
  7. 7
    What can I do with my bitcoin?
    An overview of holding, spending and earning money with your bitcoin.
  8. 8
    Frequently Asked Questions
    Now that you know the basics, let’s answer some of the most frequently asked questions.