FAQ

FAQ

What are bitcoins?
Bitcoins are the first, digital, decentralized form of cryptocurrency. In other words, they're digital coins you can send through the Internet. A short video, by our nice friends over at weusecoins.com, provides an entertaining inftroduction to bitcoins.



What is cryptocurrency?
Cryptocurrency is a type of digital currency that is based on cryptography or encryption. In other words, it’s based on a mathematical formula used to decode messages, that wouldn’t normally make sense on the surface. Cryptocurrency uses cryptography for security making it difficult to counterfeit.

How do I get bitcoins?
The easiest way to buy bitcoins is through a bitcoin merchant or bitcoin exchange such as Coinstream. There, you can purchase bitcoins with traditional currency (USD, Euros, etc.).

What can I do with bitcoins?
You can accept bitcoins as payment for goods and services. You can also either keep or sell them.

Can you purchase less than one BTC?
Yes, you can purchase less than one bitcoin. Bitcoins are divisible up to eight decimal places. Therefore, 0.00000001 BTC is the smallest amount that can be handled in a transaction.

Why use bitcoins?
By using bitcoins, you can instantly do business or pay anyone on the planet. You don't need the authorization of a bank or clearinghouse and there are NO transaction fees. Your account cannot be frozen, put on hold, and there are no arbitrary prerequisites or limits. The bitcoin network is free, strong, and secure.

Are bitcoins legal?
Yes, they are completely 100% legal.

What is Coinstream?
Coinstream is a bitcoin store that facilitates various transactions and supports the bitcoin consumer. You can directly purchase or sell bitcoins through us or other parties as well as accept and trade bitcoins as payment for services.

Why use Coinstream?
Currently Coinstream is one of the fastest and simplest ways to buy, sell, and trade bitcoins. It’s an easy, one stop shop.