You’re familiar with using PayPal or your online bank to send, receive and manage your “money” on the internet. Although convenient, there’s some problems:
- You need permission to have an account with PayPal or a bank. They have the power to close your account, block your transfers, and ask questions about your transactions. In short, they stand between you and the free use of your money.
- If you want to send money to a friend in Canada or France, a conversion has to happen between your form of money, the US Dollar, and theirs. PayPal and banks charge a fee for this conversion.
- Your money loses value over time, as the government continually enlarges the money supply through inflation. A dollar today is worth 90% less than one in 1920.
Bitcoin is the internet's native form of money, and solves these problems.
- It's permissionless. Just like email, anyone can access and use it, but nobody owns or controls it. Nobody can stop you from owning and using bitcoin.
- It's global. Bitcoin is a worldwide currency. Just like email, you can send bitcoin as fast and freely to someone in Japan, as to your neighbor next door.
- It has a limited supply. By design, there will never be more than 21 million bitcoins.
Let's now explore how Bitcoin works. →
- 1What is Bitcoin?Bitcoin is the internet’s native form of money.
- 2How does Bitcoin work?This is where things get a little tricky, but it’s actually simpler than it seems at first.
- 3What’s special about Bitcoin?Bitcoin has a number of characteristics that make it unique!
- 4What is a bitcoin worth?Just like all assets, Bitcoin is worth whatever the market decides it’s worth.
- 5Should I own some bitcoin?That’s up to you, but here is how some of the world’s most successful people answer that question.
- 6How do I get some bitcoin?You can buy bitcoin with a bank transfer, debit or credit card.
- 7What can I do with my bitcoin?An overview of holding, spending and earning money with your bitcoin.
- 8Frequently Asked QuestionsNow that you know the basics, let’s answer some of the most frequently asked questions.