Welcome to the Coinish Q&A page!
If you have any questions regarding bitcoin, anything ranging from what’s a digital currency like bitcoin to what’s the value of bitcoin and even what hardware is best to use in bitcoin mining. You have come to the right place!
We arranged a list of the top 10 most common questions people ask about bitcoin and answered them all for you.
Get ready to learn!
• What is bitcoin?
Bitcoin is a digital currency that was eased as an open source software in 2009. The system is peer to peer and it is the first decentralized digital currency and the largest of its kind with about 21 million bitcoins being issued thus far.
• Who is bitcoin’s founder?
Bitcoin’s founder is “Satoshi Nakamoto”, a pseudo name used by the person or a group that invented it. No one knows for sure who is the founder of bitcoin and the founder rather stay anonymous but there are some theories on this subject which you can read more about.
• What is bitcoin exchange?
Bitcoin exchange is the trade of goods for bitcoin or the transfer of bitcoins from one user to another. There are many tools and sites which allow you to perform such tasks. You can read more about it in this CNN article.
• Should you buy bitcoins?
Well that is the most important question of all, no one knows for sure. Bitcoin is a currency, and like all currencies it fluctuates and so it can be high one day and low the other. However we at Coinish believe that bitcoin is the future and we think that you should definitely jump on the wagon while you still can.
• Is bitcoin worth investing in?
To continue our previous answer, Yes, bitcoin is worth investing in, however you should be very smart about it, we recommend you to read more about it in our news section where we talk about bitcoin and share very helpful guides on the subject.
• Where do I buy bitcoin?
That is up to you to decide, we don’t sell bitcoin here in Coinish and we don’t want to risk our reputation by recommending you sites that we know nothing about. We’ll just say that you should be careful and only buy from places with a good reputation and trustworthy recommendations.
• What can I buy with bitcoin?
You can buy almost anything you like, bitcoin was released in 2009 and since that point it has started being accepted in most places across the western world. So don’t let that reason stop you.
• How can I sell bitcoins?
The process is similar to buying bitcoin, you go to one of the bitcoin exchange sites that you bought from, and there are usually options to sell there, either back to the site or to private individuals.
• What is bitcoin mining?
Bitcoin mining is the process in which you use your computer hardware to add to past transactions to bitcoin’s public ledger. That ledger is called a block chain, which is the code that confirm the transaction. This process is made to secure the various transactions taking place by bitcoin. For this miners receive a fee and a subsidy which can earn you quite a nice amount of cash, you can see exactly how much money you’ll make by check out our bitcoin mining calculator.
• What is the best hardware for bitcoin mining?
This is a great question, one which we’ve already answered in a great article, named “Best hardware for mining bitcoin” , you should definitely check it out. Also you can have a look at the best hardware we have available here at our bitcoin mining hardware section.
If you have any further questions for us, don’t hesitate to contact us!