What is Bitcoin?

Posted by Grace under Terminology on June 10, 2015

Know What is bitcoin definition and mean for the economy. Bitcoin as a currency that can exchange digitally online. Know the rates, and tips on how to buy bitcoin.


Hi Grace, It is a pleasure to inquire some information about bitcoin. I don’t know about bitcoin, may I know what it is all about? I would like also to know the exchange rates and how to have bitcoin. thanks – Jerico from Alberta, Canada

 A reader of InvestmentTotal.com simply asked me about Bitcoin. The reason why I want to write and discuss to you some basic information about bitcoin is because “bitcoin” is a related financial topic.

In an online business, you can use bitcoin, you can allow your clients or customers to pay you for your products and services using it. Bitcoin is considered as an online currency. But, it is not a “money” literally. It is currency you can use in purchasing products and services online.


I remember when I want to buy some domain names, a domain registrant (don’t want to mentioned for privacy reasons) has an option to let me pay my desired domain name using bitcoin, PayPal and credit card.

Image Credit: Francis Store CC 2.0

What is Bitcoin Definition and Mean for the Economy

CNN Money explained well what is a Bitcoin all about. Here we gather some question and answer related to Bitcoin.

Question: What is Bitcoin?
Answer: A digital currency to be use when purchasing online.

Question: Is there any fees in using Bitcoin?
Answer: There are no transaction fees.

Question: What else can I buy using Bitcoin?
Answer: You can buy anything like web hosting, domain names, products like ebook,etc.

Question: How to acquire Bitcoins?
Answer: Go to Mt. Gox and buy Bitcoin, you can buy and sell bitcoin online. Just search the legitimate one.

Question: Can I transfer Bitcoin to other person?
Answer: Yes, you can transfer Bitcoin to anyone using mobile app or through online.

Other Information About Bitcoin

Please be reminded that InvestmentTotal.com has many visitors and readers from North America (USA and Canada), United Kingdom, France, Denmark and other European Countries who might be interested to trade bitcoins.

Do you want to share your opinion about what is Bitcoin all about and its used for the economy? If you have questions, inquiries or want to buy and sell Bitcoin, use this page. I will allow you to post your stuff here. As long as your topic is related to Bitcoin. Use the comment box below to share your ideas, opinions, knowledge and opportunity to buy or sell Bitcoin.

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