Accepting Bitcoin

Bitcoin Merchant Services Managing Bitcoin payments yourself Merchant payment protocol Micropayments Bitcoin Merchant services The simplest way to accept Bitcoin is to use a merchant service that converts Bitcoin to local currency and deposits it into a bank account. Accepting Bitcoin is similar to accepting PayPal Once carts are configured to accept Bitcoin there […]

Getting Started With Bitcoin

Start small. Buying Bitcoin. Work for Bitcoin. Mining Bitcoin. Transaction fees. Buying stuff, donating and tipping with Bitcoin. Use offline “cold wallets” for large sums. Considerations for investing. Taxes. References and links. Start small Bitcoin is still experimental so start small. Try multiple types of services to distribute risk and have alternatives should technical […]

Is Bitcoin Secure?

Bitcoin security checklist. Managing Bitcoins via an online service. Managing Bitcoins yourself. Bitcoin Transactions are irreversible. Merchant verification not required for payment. All Bitcoin transactions are traceable. Escrow and mediated transactions. Physical Bitcoin security. Bitcoin gaming. References and links. Bitcoin security checklist For online services: Bitcoin services should be reliable and have a good […]

How Does Bitcoin Work?

Bitcoin is not a physical object or computer file. Bitcoin uses a shared ledger that everyone can see called the “Blockchain” and transactions adjust the balances within the ledger. A Bitcoin wallet is a collection of Bitcoin addresses along with the secret “private keys” needed to adjust the Blockchain ledger. Bitcoin “Mining” adds or […]

What is Bitcoin?

What is Bitcoin? Bitcoin is a currency. Bitcoin is a payment system. Bitcoin is similar to a commodity. Bitcoin is an Internet protocol. Bitcoin is a software program. A Bitcoin can be broken down to 8 decimal places. Bitcoin is decentralized by the process of Bitcoin “mining.” Bitcoin cannot be “backed” by something of […]