What is Bitcoins?

What is Bitcoins?

Bitcoin is the simplest way to exchange money at very low cost.

Mobile payments made easy

Bitcoin on mobiles allows you to pay with a simple two step scan-and-pay. No need to sign up, swipe your card, type a PIN, or sign anything. All you need to receive Bitcoin payments is to display the QR code in your Bitcoin wallet app and let your friend scan your mobile, or touch the two phones together (using NFC radio technology).

Security and control over your money

Bitcoin transactions are secured by military grade cryptography. Nobody can charge you money or make a payment on your behalf. So long as you take the required steps to protect your wallet, Bitcoin can give you control over your money and a strong level of protection against many types of fraud.

Works everywhere, anytime

Just like with email, you don't need to ask your family to use the same software or the same service providers. Just let them stick to their own favorites. No problem there; they are all compatible as they use the same open technology. The Bitcoin network never sleeps, even on holidays! Fast international payments Bitcoins can be transferred from Africa to Canada in 10 minutes. There is no bank to slow down the process, level outrageous fees, or freeze the transfer. You can pay your neighbors the same way as you can pay a member of your family in another country.

Zero or low fees

Bitcoin allows you to send and receive payments at very low cost. Except for special cases like very small payments, there is no enforced fee. It is however recommended to pay a higher voluntary fee for faster confirmation of your transaction and to remunerate the people who operate the Bitcoin network.

Protect your identity

With Bitcoin, there is no credit card number that some malicious actor can collect in order to impersonate you. In fact, it is even possible to send a payment without revealing your identity, almost just like with physical money. You should however take note that some effort can be required to protect your privacy.
You can learn more about Bitcoin on the official http://bitcoin.org website


Bitcoins are a digital currency that has been gaining in popularity and acceptance since it was introduced in 2009. More information can be found on the Wikipedia page devoted to the subject.

Bitcoin on Wikipedia

Since Bitcoins are rather expensive, free faucets obviously can't give out whole Bitcoins for visiting. This is where Satoshi come in. The free faucets give varying amounts of Satoshi (like 50, 100, 500, etc.) simply for filling out a captcha.

Collecting these small amounts of Satoshi is rather like collecting spare change in a jar. Eventually the pennies grow in numbers and become dollars. In the same way, the Satoshi will eventually build up into full Bitcoins.