Purchase Bitcoin (BTC) Online Instantly | Bitcoin.com

Question 1

What makes Bitcoin unique?

Accepted Answer

Bitcoin is a decentralized digital asset. It is a new type of asset that joins the ranks of traditional assets such as cash, gold, and real estate.

Question 2

Who controls Bitcoin?

Accepted Answer

Bitcoin has several key characteristics that set it apart from traditional forms of money:

Limited Supply: There will only ever be 21 million bitcoins, making it rare. Unlike common items that have served as currency, such as seashells or salt, Bitcoin's scarcity enhances its value and prevents the erosion of purchasing power.
Divisibility: One bitcoin can be divided into 100 million pieces (sats), providing even greater scarcity protection. Unlike the US dollar, which can only be divided into 100 cents, Bitcoin can be broken down into minute amounts, ensuring that the world will never "run out" of it.
Durability: Bitcoin's resilience stems from a globally distributed network of computers that independently track ownership, making sure no bitcoin is lost. This network's structure ensures the currency's long-term stability.
Portability: With Bitcoin, global transactions can be conducted in minutes, regardless of the amount. This feature offers unparalleled accessibility and convenience.
Verifiability: Unlike many tangible assets, Bitcoin's authenticity is easily verified. The system's structure makes it virtually impossible to transact with counterfeit Bitcoin, contrasting starkly with other valuable commodities like gold, which can be more easily falsified.

Question 3

Is Bitcoin a store of value?

Accepted Answer

Money in banks appears on a ledger, recording transactions such as deposits and withdrawals, and relies on the bank as a trusted third party. Mistakes can occur, necessitating reconciliation statements. Bitcoin, in contrast, uses a decentralized ledger. Transactions are verified by nodes running the software, added to blocks, and cryptographically linked, forming a blockchain. The Bitcoin network's decentralized nodes must reach consensus on transaction validity through a proof of work (PoW) mechanism. This process requires miners to perform calculations, consuming energy, making manipulation costly and ensuring network security, all without relying on a central authority.

Question 4

How to use the Bitcoin blockchain?

Accepted Answer

Bitcoin's protocol is open-source software created by a pseudonymous person or group known as Satoshi Nakamoto. Changes to it are influenced by those running the software, holders, businesses, developers, and stakeholders. Collectively, they shape what Bitcoin is.

Question 5

How to buy Bitcoin?

Accepted Answer

Bitcoin's status as a store of value is debated. Its impressive annualized return and scarcity argue for it, but high volatility and technological concerns argue against. Traditional stores of value include fiat currency, precious metals, and real estate, each with unique characteristics. Bitcoin's decentralized, digital nature offers distinct advantages and challenges as a store of value. Its role continues to evolve alongside other cryptocurrencies.

Question 6

How to buy Bitcoin

Accepted Answer

You can buy Bitcoin in the Bitcoin.com Wallet app in a few taps. Pay with credit card, bank transfer, or payment app and receive Bitcoin directly in your self-custody wallet. Bitcoin can also be purchased directly on this page and sent to the Bitcoin wallet of your choice.

Question 7

How to use the Bitcoin blockchain?

Accepted Answer

You can buy, sell, send, receive, spend, and hold Bitcoin in the Bitcoin.com Wallet

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What is Bitcoin (BTC)?

Bitcoin (BTC) is a digital currency no company or government controls.

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