What Are Bitcoins?

Bitcoin is an innovative payment network and a new kind of money.
Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

Some Interesting Facts…

Bitcoin is a digital currency

Because it is digital, you can literally backup your money, so, when properly cared for, it can’t be:

Lost

Stolen

Frozen or seized

Allows a direct and immediate transfer of value between two people anywhere in the world.

No banks, governments, or organizations control or influence it.

Cannot be counterfeited, inflated, printed, or devalued over time.

A peer-to-peer network functions as a distributed authority to record transactions.

Bitcoin operates on free, open-source software on any computer or smart phone.

There are no start-up, transaction, or usage fees.

Purchases can be completely anonymous.

Transactions cannot be reversed.

Privacy is enhanced with Bitcoin and it reduces identity theft.

Bitcoins can be exchanged in open markets for any other currency.