Bitcoin is a new kind of money that is created and held electronically. It is not controlled or issued by any organization or government. Instead, it is an open network managed by its users, allowing transactions to take place without going through banks or payment processors. The open and decentralized nature of Bitcoin is the basis for its security and freedom.
A current and historical view of the bitcoin exchange rate can be seen here.
A single bitcoin can be broken into smaller denominations called "bits". One bitcoin is equal to 1,000,000 bits.
Bitcoin allows you to instantly send or receive any amount of money to/from anyone in the world. You can do this without needing a bank or credit card, which results in cheaper and faster transactions.
To get started, you need a bitcoin wallet. Bitcoin wallets store the private keys that you need to access a bitcoin address and spend your funds. Bitcoin wallets come in a variety of forms. You can download and install one onto your computer or phone, or sign up for one online.
For your first bitcoin wallet, we recommend Coinbase. Their ease of use, security features, and quality of service are what separates them from other options. They also provide a simple, integrated solution for buying and selling bitcoins.
An increasing number of businesses, large and small, are adding Bitcoin as a payment option. You can even find several stores accepting bitcoin on CoinRebates!
We understand shopping isn't for everyone. If you are interested in earning bitcoins for completing short tasks and surveys, check out BitcoinGet, another site of ours devoted to making it easy for you to earn bitcoins.