Things you need to know about Bitcoin

Important Bitcoin Basics and How It All Works

Inform yourself

Bitcoin is different than any currency you’ve used before, so it's very important to understand some key points. Unlike government issued money that can be inflated at will, the supply  of Bitcoin is mathematically limited to twenty one million bitcoins and  that can never be changed.

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Choose your wallet

Bitcoin offers a fully featured, convenient wallet for your Bitcoin storage needs. Available on all major platforms, in a variety of languages, the Bitcoin Wallet is accessible to everybody.

Get bitcoins

Obtaining bitcoins works just like obtaining any other currency. You can sell something you already have for them. You can ask your existing employer to pay you in Bitcoin.The easiest way is to just buy them on one of our trusted Bitcoin exchanges.

Spend bitcoins

Using and spending bitcoins is easy. The first step is finding the businesses that accept Bitcoin’s easy, instant and secure payment system. More and more businesses, large and small, accept Bitcoin payments every day.

No Central Command

Bitcoin isn’t owned by anyone. Think of it like email. Anyone can use it, but there isn’t a single company that is in charge of it. Bitcoin transactions are irreversible. This means that no one, including banks, or governments can block you from sending or receiving bitcoins with anyone else, anywhere in the world. With this freedom comes the great responsibility of not having any central authority to complain to if something goes wrong. Just like physical cash, don’t let strangers hold your bitcoins for you, and don’t send them to untrustworthy people on the internet.

Secure Your Wallet

There are several different types of Bitcoin wallets, but the most important distinction is in relation to who is in control of the private keys required to spend the bitcoins. Some Bitcoin “wallets” actually act more like banks because they are holding the user’s private keys on behalf. If you choose to use one of these services, be aware that you are completely at their mercy regarding the security of your bitcoins. Most wallets, however, allow the user to be in charge of their own private keys. This means that no one in the entire world can access your account without your permission. It also means that no one can help you if you forget your password or otherwise lose access to your private keys. If you decide you want to own a lot of Bitcoin it would be a good idea to divide them among several different wallets. As they saying goes, don’t put all your eggs in one basket.

Bitcoin Price

Like everything, Bitcoin’s price is determined by the laws of supply and demand. Because the supply is limited to 21 million bitcoins, as more people use Bitcoin the increased demand, combined with the fixed supply, will force the price to go up. Because the number of people using Bitcoin in the world is still relatively small, the price of Bitcoin in terms of traditional currency can fluctuate significantly on a daily basis, but will continue to increase as more people start to use it. For example, in early 2011 one Bitcoin was worth less than one USD, but in 2015 one Bitcoin is worth hundreds of USD. In the future, if Bitcoin becomes truly popular, each single Bitcoin will have to be worth at least hundreds of thousands of dollars in order to accommodate this additional demand.

Bitcoin Exchanges

There are several ways to buy Bitcoin, but trusted exchanges are a great way to acquire Bitcoin. Because there are inefficiencies in the traditional banking system, exchanges will sometimes have slightly different prices. If the difference is too great, traders will buy low on one an exchange and sell high on another and close the gap. If an exchange constantly has substantially different prices than others, it is a sign of trouble and that exchange should be avoided. As with everything else, do your research and find an exchange you can trust. It’s also a good idea not to use an exchange as a wallet. Move your Bitcoin to your personal wallet so that you have control over your funds at all times. You can view our list of Bitcoin exchanges here.

Bitcoin Isn't Completely Anonymous

Because all Bitcoin transactions are stored on a public ledger known as the blockchain, people might be able to link your identity to a transaction over time. Some companies offer various tools such as Bitcoin mixers to help achieve greater privacy, but it takes a huge amount of effort to use Bitcoin anonymously. You may want to follow your country’s tax regulations regarding Bitcoin in order to avoid trouble with the law, but you have the power not to should you choose to take that risk. To improve privacy, most newer Bitcoin wallets will use a new Bitcoin address each time someone sends bitcoins to you.

Unconfirmed Transactions

Bitcoin transactions are seen by the entire network within a few seconds and are usually recorded into Bitcoin's world wide ledger called the blockchain, in the next block. While it’s possible that a transaction won’t be confirmed in the next block, in the vast majority of circumstances it is fine to accept a transaction as soon as it has been seen by the network. Unlike traditional payment systems, Bitcoin transactions are lightning fast and can be sent globally. Bitcoin is still relatively new, but with each passing day the technology becomes more reliable. It is more and more unlikely that a major bug will emerge in the system as time goes by, and people can trust the technology more with the passing of time. Each month people transact hundreds of millions of dollars worth of Bitcoin.

About Bitcoin Inc

Bitcoin Inc is a not for profit organisation established by early stage Bitcoin investors and developers. It was established to help spread the awareness of Bitcoin and Cryptocurrencies.

It's  mission is to support a new world whereby currencies are decentralized and no longer in the hands of "Central Banks" and to empower and educate society why this is so important for the future of  humanity.

Bitcoin  Inc also has a referral / affiliate program that rewards its members  for referring its Cryptocurrency and other educational programs.

It also partners with Bitxcoin a new Cryptocurrency backed by Real Estate and expected to be more stable then Bitcoin and better suited as a longterm payment system.

Don't have Bitcoin yet and would like some?

Bitcoin Inc pays is members who partner with us to refer our paid educational programs in Bitcoin and also in the near future Bitxcoin.

So simply spread the word and help awareness of the industry and you can be earning Bitcoin.

Bitcoin  Inc was founded by a group of early Stage Bitcoin Investors and also a group of educators who believe ongoing education of Bitcoin and Cryptocurrencies are critical to the industries success.


We all know Cryptocurrencies are fast becoming a trillion dollar industry and many are discovering  that blockchain technology is the future of the world. The market cap as of November 2017 has  surpassed $200 billion with Bitcoin making up $120 billion of this.

Bitxcoin is a new Cryptocurrency/ company that is looking to innovate the Global Payment System.

If Bitcoin was being started over again it would most likely use the superior Etheruem block chain platform.

Some consider Bitxcoin to be like Bitcoin as a payment system but expected to be better due to its more effective blockchain technology platform.

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