FAQ


Do I have to mine bitcoin to get bitcoin?

No, you can trade fiat money for bitcoin or you can sell goods and services for bitcoin.

Is bitcoin illegal?

No, in most countries it is not illegal. Currently Russia is the country with the hardest stance against bitcoin.

Are bitcoins safe?

Bitcoin is safe to use. However if your computer is infected with a trojan or malware then it could be possible for someoen to steal your bitcoin stored on that computer or online accounts. It is possible to store bitcoin in a very secure way refered to as “Cold Storage”. Think of bitcoin as cash. If you drop a 20$ bill on the ground it is gone, this goes for bitcoin that you misplace the keys to or keep in an unsafe matter.

Are bitcoins real?

Yes, bitcoins are real. They are used everyday around the world to buy and sell goods and services or to transfer value across borders. Allthough bitcoin is digital you can store bitcoin in a physical form. Simply put printing the private and public keys (a string of numbers and letters) on some form of paper or putting this on a sticker behind a tamper proof hologram on the back of a metal coin.

Are bitcoins worth it?

It really depends on a the person or the situation. The main thing is that you can not censor a bitcoin transaction. Nobody or no organization can prevent bitcoin being sent from one address to another.

Are bitcoins anonymous?

Bitcoin is pseudonymous. That means that you can not put a name or address to a bitcoin address. However if an address is used more than once and or a name or address can be linked to an address. Then in theory you can track the activity of these addresses and transactions. Then you might be able to put together who is behind a bitcoin address.

Are bitcoins still around?

Yes bitcoin is still around! It has been declared dead many times.

Are bitcoin faucets worth it?

Bitcoin Faucets give out micro ammounts of bitcoin. Years ago they were worth it. Some even gave out one bitcoin (the price back then was nothing or a few cents). Now you are better off doing small tasks from the services section of bitcoin talk or signing up at casinos that offer free raffles.

Can bitcoin be charged back?

No, bitcoin can not be charged back. This is one reason it has value and that people want to use it.

How did bitcoin get value?

Bitcoin is traded on exchanges and person to person for other currencies like US Dollars or Euro. It is also traded for other crypto currency like dogecoin or litecoin. People buy bitcoin for different reasons ranging from speculation to buying things on the dark web.

Is bitcoin a good investment?

First of all bitcoin is a very risky investment. It has a very high risk/reward. On the positive side it is not dependent on the “legacy” economic system. On the downside nobody knows if another currency like bitcoin will take it over that uses better technology.

What are public and private keys?
What is the block chain?
What is a bitcoin wallet?
What is peer to peer?
What is an exchange?

What is a bitcoin faucet?