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What is this site anyway?
Welcome to bitcoinprosper, where we explain Bitcoin in plain English. bitcoinprosper was established in April 2013 and today is one of the biggest online resources for Bitcoin and cryptocurrencies.
Each month more than 1 million readers worldwide come to our site in search for Bitcoin guides, reviews and the latest news. bitcoinprosper has also been named as the best Blockchain company for 2016.
What is Bitcoin?
Bitcoin is a decentralized digital currency. It’s money that doesn’t belong or controlled by any government or central bank. You could think about it like the Internet of money or money that works like files sharing programs.
Bitcoin was invented in 2008 and since then has gained a market cap of over $40 billion. Today it’s estimated that millions of people around the world are using Bitcoin as a store of wealth, investment vehicle and an actual currency for exchange.
Where do I store my Bitcoins?
Bitcoins are stored inside a Bitcoin wallet. Just like you use an email software to manage your emails (i.e. Outlook or Gmail), you need a Bitcoin wallet to manage your Bitcoins. A bitcoin wallet helps you send, receive and store Bitcoins.
Bitcoin wallets come in many forms. Mobile wallets, desktop wallets, web wallets and even hardware wallets. Where ever the wallet is installed (e.g. your mobile phone) that’s were your Bitcoins are stored. Don’t have a Bitcoin wallet yet? Click here to choose one.
What can you do with Bitcoins?
There are many uses for Bitcoin these days. For starters, Bitcoin can be used to shop online at leading sites like Expedia, Overstock, Microsoft, Dell and more! As Bitcoin becomes more mainstream, more and more businesses are adopting Bitcoin as a payment method.
Many countries around the world are experiencing financial turmoil and in many cases the citizens are the ones who end up getting hurt. Bitcoin is an alternative to the current banking system and allows you to be in full control of your money without a need for a bank.
Can I buy less than one Bitcoin?
Today, one Bitcoin is worth over 10,000 US dollars. Luckily Bitcoin can be divided up to 8 decimal points, meaning you can buy 0.5 Bitcoins, 0.02 Bitcoins or even 0.00000001 Bitcoin (the smallest amount of Bitcoin available, also known as a Satoshi).
Bitcoin was invented in 2009 by Satoshi Nakamoto. No one really knows who Satoshi Nakamoto is but his legacy continued until this day. Today, the Bitcoin protocol is maintained by developers around the world who help update and upgrade the open source.