What can you do with Bitcoins?

What can you do with Bitcoins?

You can can use it to pay for goods or services. An increasing number of small merchants and large businesses are now accepting bitcoin payments. You can trade it, either trading bitcoin for fiat currencies (AUD, USD, etc.) or other cryptocurrencies.

How do I pay someone using Bitcoin?

You go to your bitcoin wallet (local or hosted) select pay, specify the amount, and paste in the bitcoin address of the party you want to pay. If you have a mobile bitcoin client, it can be as easy as scanning a QR code on the payee's website, entering the amount, and approving the transfer.

Why do people use Bitcoin?

Bitcoin is digital and decentralized – With Bitcoin people get the liberty to exchange value without intermediaries which translate to greater control of funds and lower fees. It's faster, cheaper, more secure and immutable. Ease of online shopping: As we already know, Bitcoin can help us do online shopping.

How do I get Bitcoins?

There are three primary ways to obtain bitcoins: buying on an exchange, accepting them for goods and services, and mining new ones. “Mining” is lingo for the discovery of new bitcoins—just like finding gold. In reality, it's simply the verification of bitcoin transactions.