Bitcoins are digital currency that are designed for monetary transactions.
They were initially designed to send money over the Internet in a simple and easy way. Now, some brick-and-mortar retailers accept bitcoin payment.
Bitcoins do not require a bank or credit card to process the transaction.
Why do bitcoins fluctuate in cost? Like most commodities, the price changes based on supply and demand. However, the price of bitcoins are also influenced by its young economy and illiquid markets.
How do bitcoins work? The bitcoin network is held together by the blockchain, which keeps track of every transaction made in the network. Every transaction on the blockchain is transparent, timelined and accounted for in its log. Afterwards, every completed transaction is available for future viewing and verification on blockchain.
What is a private key? A private key is a secret code that enables proof of ownership. All bitcoin addresses have a matching private key that is saved in the wallet file. The key corresponds mathematically to the bitcoin address and is designed so the bitcoin address can be calculated from the private key, but the key cannot be calculated from the address.
Are bitcoin payments anonymous? No.
Why is Clark Diversey Currency Exchange selling bitcoins? As bitcoins become more common, and merchants are starting to see the value in their transactions, it is important for us to provide our customers with the resources they need. Simply put, it is another way that we can provide service for our customers.
Where can I go for more information about bitcoins? Visit bitcoin.org for full details on bitcoins and their uses.