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What is a Bitcoin?

A bitcoin is an anonymous way to buy items online, receive payments, and/or store currency. Bitcoin has been around since 2008, but only really started to become more and more mainstream in the last several years. Bitcoin is an online “crypto currency” and was created by a man who believes in libertarianism, and that people should have the anonymity and freedom to do what they want as they please.

How Can I purchase, or Sell a Bitcoin?

You can buy and sell bitcoins quickly and easily by creating a wallet on coinbase.com, as soon as the bitcoin is bought or sold, the transaction is sent to you within 1-2 days. Bitcoin is largely anonymous and keeps both you and us safe in online transactions by a wallet address.

What is the Value of a Bitcoin?

A bitcoin is currently valued at $259 at the time of writing this article, but fluctuates in an extremely volatile manner on a day to day basis. Bitcoin can fluctuate by as much as 1-5% per day, and is a very safe, reliable currency with which to save, or use your money.

How do I pay with Bitcoins?

You can pay with bitcoins on modafiniledge.com by selecting the bitcoin option at checkout, once you do this you’ll be directed to our system with which you can purchase the product with bitcoins. You’ll be given a wallet address with which to send money to, and as soon as you send the money to that address and we receive the funds successfully (takes a few minutes usually) we’ll get to sending you your product.

How did bitcoin start, how does it work as a whole?

Bitcoin was started by a coder who believed people should have the freedom to do all things anonymously, including make/sell/distribute funds online. Bitcoin works as a whole in that it is made by blocks, which create a bitcoin in a process known as “bitcoin mining” bitcoin mining is limited in production to 21 Million Bitcoins in which bitcoin will cap out, and no new coins will be made. There are also other cryptocurrencies which run in a very similar fashion, such as litecoin, called simply “altcoins.”

Is Bitcoin Legal?

Yes, Bitcoin is 100% legal to own, sell, trade, and save/hold.

What is a wallet address?

A wallet address is what you’ll get when you open a bitcoin wallet in either coinbase or blockchain. Simply give someone this address and they can send you payment through it.

Do I need to generate a new wallet address every single time? Should I?

No, you don’t need to generate a new wallet address every single time. If you’d like to do so however, it will in fact help keep you even more anonymous. But no, not a necessity by any means.

What wallet should I use?

We prefer either Coinbase or Blockchain, though you can’t buy and sell bitcoins with blockchain, only coinbase, and blockchain is more anonymous than coinbase, because you have to put your full legal name and information in coinbase.