What is "Bitcoin"?
Bitcoin is a digital currency.You can use bitcoins to make purchases on the internet and in stores.
Benefits of using Bitcoins:
Bitcoin is global:
Bitcoins can be sent to someone regardless where in the world.
Bitcoin is irreversible: Bitcoin is like cash and bitcoin transactions cannot be reversed by the sender.
Bitcoin fees are low: Bitcoin transaction fees area lot less than fees you pay with credit cards, in banks or with other processors.
Bitcoin is private: When you pay with bitcoins, there are no bank statements involved, and you do not need to provide unnecessary personal information. Bitcoin transactions do not contain any identifying information ONLY the bitcoin addresses and amounts involved.
Bitcoin is secure: Bitcoin payments are more secure than debit/credit card transactions because there is no sensitive information required and sent online. The risk is very low, of your financial information or your identity being stolen.
Bitcoin is open: Every transaction on the Bitcoin network is published publicly, without exception. The software that constitutes the core of Bitcoin is free and open-source so anyone can review the code.
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