Frequently Asked Questions
What is Bitcoin BTCBlockchain?
Bitcoin is a consensus-based network that makes a new payment system and completely digital money possible. It is the first decentralized peer-to-peer payment network operated solely by users without any central authority or intermediary. From the user's point of view Bitcoin is more or less cash for the internet. Bitcoin can also be seen as the most prominent example of an existing triple accounting system.
What are the benefits of Bitcoin?
Freedom of Payment - It is possible to send or receive bitcoins at any time and anywhere in the world. No holidays. No limits. No bureaucracy. Bitcoin gives its users full control over their money. Pick the Fees Yourself - Receiving bitcoins costs nothing and many wallets allow you to set the amount of the fee when you send it. Higher fees make a faster transaction confirmation more likely. Since fees do not depend on the amount sent, 100,000 bitcoins can be shipped for the same fee as 1 bitcoin. In addition, there are payment service providers that allow merchants to accept Bitcoin. These convert incoming bitcoins into a fiat currency (eg Euro) immediately upon receipt and transfer the money daily directly to the merchant's bank account. Because these services are based on Bitcoin, they can be offered at much lower fees than through PayPal or credit card networks.
Can I earn money with Bitcoin?
BTCBlockchain offers a growing room for innovation and entrepreneurial opportunities, but also risks. There is no guarantee that Bitcoin will continue to grow even though it has grown rapidly so far. Entrepreneurship is needed to invest time and resources in the Bitcoin economy. There are several ways to earn money with Bitcoin, such as mining, speculating, or building new businesses. All these methods are competitive and there is no guarantee of profit. Another way to earn cash with Crypto Currency is the daily use of the Blockchain chain. The more often we use these the more money can and is earned. Each individual is responsible for assessing the costs and risks associated with each such project.