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What is Bitcoin?

Bitcoin is a cryptocurrency, meaning a digital money specially designed to be secure and of course anonymous.

Bitcoin or commonly known as BTC empower the user to exchange funds in various ways compared to what a bank does. Therefore every user should be informed before using it for business, especially when engaging in a serious digital transactions. Like what you do with your Banks, your BTC wallet should be treated the same or even more!

You should take note that the price of Bitcoin is extremely volatile, meaning it can increase and decrease anytime and its unpredictable even just milliseconds. If you are planning of holding Bitcoin, we strongly suggest not to do so. BTC should be considered as high risk asset, only store what you can afford to lose.

If you received Bitcoin payments from other users, you can convert it on your local currency, but take note, payments made via BTC are “non-irreversible”. The only option to get the money back after sending is when the receiving user send it back to you. This means that you should only do business transaction to people whom you know and trust or someone that has good reputation.

All transactions involving BTC are publicly and permanently store on a network, meaning you can check all the transactions and the balance of any BTC address. But, the user identity remains unknown.