How Bitcoin Mining Works

When you hear about bitcoin "mining," you envisage coins being dug out of the ground. But bitcoin isn't physical, so why do we call it mining? Because it's similar to gold mining in that the bitcoins exist in the protocol's design (just as the gold exists underground), but they haven't been brought out into the light yet (just …

Understanding Bitcoin Price Charts

Whether you already own bitcoin or plan to get some, sooner or later you'll want to know how much the cryptocoins are worth when converted to your currency of choice. Later, you may want to know whether to hang onto your coins or to sell them – hopefully making a little profit in the process. However, …

Who is Satoshi Nakamoto?

While we may not know who he (or she) was, we know what he did. Satoshi Nakamoto was the inventor of the bitcoin protocol, publishing a paper via the Cryptography Mailing List in November 2008. He then released the first version of the bitcoin software client in 2009, and participated with others on the project via mailing lists, until …

Is Bitcoin Legal?

As the market capitalization of the cryptocurrency market shoots up, through price movements and a surge in new tokens, regulators around the world are stepping up the debate on oversight into the use and trading of digital assets. This affects all cryptocurrencies, but especially bitcoin, given its market leadership and integration into the global startup …

How do Bitcoin Transactions Work?

  Simple version: If I want to send some of my bitcoin to you, I publish my intention and the nodes scan the entire bitcoin network to validate that I 1) have the bitcoin that I want to send, and 2) haven't already sent it to someone else. Once that information is confirmed, my transaction gets included …

How to Accept Bitcoin Payments for Your Store

One issue holding bitcoin back from wider adoption is the lack of businesses that accept the digital currency as payment. This is a chicken-and-egg problem. If more businesses had the ability to accept bitcoin, it might encourage consumers to start obtaining and spending it, and vice versa. With this in mind, here is our guide …

How to Sell Bitcoin

    These days virtually all the methods available to buy bitcoin also offer the option to sell. The exception is bitcoin ATMs – some do allow you to exchange bitcoin for cash, but not all. Coinatmradar will guide you to bitcoin ATMs in your area. All exchanges allow you to sell as well as buy. What type of exchange you …

What Can You Buy with Bitcoin?

After an initial flurry of interest among merchants in accepting bitcoin in their retail or online stores, interest has largely died down as increasing bitcoin transaction fees and volatile price movements made it less attractive as a means of exchange That doesn't mean that there are no outlets to spend your bitcoin, however, far from it. It's …

How to Store Your Bitcoin

Before owning any bitcoin, you need somewhere to store them. That place is called a "wallet." Rather than actually holding your bitcoin, it holds the private key that allows you to access your bitcoin address (which is also your public key). If the wallet software is well designed, it will look as if your bitcoins …

How to Buy Bitcoin in the UK

    As boundaries blur and the cryptocurrency sector gets more sophisticated, buying bitcoin in the UK is very similar to buying bitcoin in the US (see this article for a more detailed explanation of the process). The market for bitcoin in British pounds is not one of the more liquid ones – according to CryptoCompare it usually ranks around the …

How Can I Buy Bitcoin?

So you've learned the basics about bitcoin, you're excited about the potential and now you want to buy some*. But how? (*Please, never invest more than you can afford to lose – cryptocurrencies are volatile and the price could go down as well as up.) Bitcoin can be bought on exchanges, or directly from other people …

Why Use Bitcoin?

Bitcoin was originally created as an alternative, decentralized payment method. Unlike international bank transfers at the time, it was low-cost and almost instantaneous. An added benefit for merchants (less so for users) was that it was irreversible, removing the threat of expensive charge-backs. However, the improvement in domestic payment methods and the rapid development of alternative (non-cryptocurrency) …

What is bitcoin?

what is bitcoin? To cut through some of the confusion surrounding bitcoin, we need to separate it into two components. On the one hand, you have bitcoin-the-token, a snippet of code that represents ownership of a digital concept – sort of like a virtual IOU. On the other hand, you have bitcoin-the-protocol, a distributed network …

Types of Bitcoin Wallets

Let's discuss the types of bitcoin wallets and why you might want to use one kind over another. Hardware Wallets The Ledger Nano S is one example of a hardware wallet. A hardware wallet is a physical electronic device, built for the sole purpose of securing bitcoins. The core innovation is that the hardware wallet must be …

TREZOR Supported Coins and Cryptocurrencies

TREZOR is a single purpose security device from Satoshi Labs which allows you to make secure bitcoin and cryptocurrency transactions. With TREZOR, transactions are completely safe even when initiated on a compromised or vulnerable computer. TREZOR is a very easy and intuitive way to assist adoption among people who aren’t familiar with Bitcoin and its underlying security issues. …