Bitcoin Faqs

The main purpose of FAQ's is to give basic education about Bitcoin. We gather some of the most common questions that people asked about Bitcoin.
For using Bitcoin you don't need to understand how it works. But if you want to dive into Bitcoin world here to common FAQ's you have to know before diving into Bitcoin ocean.

Q. What is Bitcoin?

A. In simple words Bitcoin is a new kind of currency which connects helps one party to transfer money to another party (e.g. buyer to seller) without including Banks and Government officials. 

Q. So Bitcoin is a Virtual Currency?

A. No. Virtual currencies are generally the tokens issued by a company for it customers such as loyalty or gift cards, air miles or mobile phone top-ups etc.

Bitcoin is a programmable digital currency. Nothing like Bitcoin has ever exist before.

Just like email is revolutionized the postal services, similarly Bitcoin can revolutionize Financial services.

For more broader view at what Bitcoin provides, Watch this video on Youtube

Q. Is it easy to use?

A. Yes. Using Bitcoin is much easier to use as compare to other payment methods. In some cases all you need to click a link to process payment. Mobile user use QR code to scan the payment as it is much easier.

Q. What is QR code?

A. QR code is just like Barcode. It made of Black and White squares in which information is stored. QR code helps Smartphones to easily scan it with their camera.

Q. Bitcoin use is easy on internet, Can you give example?

A. Most easy and famous example of Bitcoin use is Reddit Change Tip. After adding some Bitcoins to your Tipping wallet. You can easily tip anyone on Reddit by just sending this command.
$0.5 /u/changetip
This command will tip $0.5 (in Bitcoin) to whoever you want.

Q. So I can send 50 cents to anyone in the world with Bitcoin, right? So Can I send $10 Million to anyone with Bitcoin?

A. YES. Bitcoin works very well on internet and the Bitcoin Money supply can easily handle $10 Million transaction too.

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