People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain. Many merchants now allow you to pay with cryptocurrencies like Bitcoin.
List of Companies That Accept Bitcoin
What Is Bitcoin Payment Method?
Bitcoin transactions are conducted on a peer-to-peer basis. The Bitcoin payment system is purely peer to peer, meaning that users are able to send and receive payments to or from anyone on the network around the world.
How Do Bitcoins Work?
Each Bitcoin is basically a computer file which is stored in a ‘digital wallet’ app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. You can buy Bitcoins using ‘real’ money. You can sell things and let people pay you with Bitcoins.
Is Bitcoin a Good Form of Money?
Bitcoin may or may not be a widely used form of money in the future, but its advantages as a store of value and safe haven against fast-depreciating currencies are undeniable.
How Does Bitcoin Make Money?
Besides mining bitcoin, which requires technical expertise and an investment in high-performance computers, most people purchase bitcoins as a form of currency speculation — betting that the U.S. dollar value of one bitcoin will be higher in the future than it is today.