Questions about Bitcoin? Ask them here!

+3 Tommy Hillis · September 2, 2014
I see a lot of people asking about Bitcoin so I thought that I would help out and answer some questions. Some of these were taken from the BuckysRoom FAQ's.

What is Bitcoin?
Bitcoin is a digital currency. Watch this video (it explains it better than I can)



How do I get Bitcoin?
If you live in the US, you can buy them online from https://coinbase.com or https://localbitcoins.com/ I'm not sure about people living outside the US (if anyone else knows, please post a reply) You can also sell things in the BuckysRoomShop section. Whenever someone buys anything from you, it sends the Bitcoin to your BuckysRoom wallet.

How can I send Bitcoin to my BuckysRoom wallet?

Once you buy Bitcoin, go to https://buckysroom.org/wallet.php You will see your BuckysRoom wallet Bitcoin address. That is where you send them if you want to keep them in your BuckysRoom wallet. If you aren't going to use them on BuckysRoom, you can just keep them in another Bitcoin wallet.

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How do I send Bitcoin to someone else?
When you visit a users profile page, click the link under their profile photo that says "View Bitcoin Address". Copy that address and use it to send Bitcoin to users with your Bitcoin wallet.

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Is there a transaction fee when sending Bitcoin?
The current transaction fee when sending Bitcoin is 0.0001 BTC (about 5 cents)

How can I trade in my Bitcoin for cash?
I used https://coinbase.com before to sell Bitcoin. When you sell them on there, they will deposit money directly into your bank account. You can also use something called a “Bitcoin Exchange”. I never used any before, but that is also a way to find people who will buy your Bitcoin from you.

If anyone else has any questions, you can leave a reply below and I will add the question to the topic. I will try to answer any questions the best that I can.  8-)

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0 Federic jhon · August 28, 2015
cool but how do you get bitcoin without buying them. because a year ago i downloaded a software called bitcoin mining and basically how it worked was like there were problem that your computer needs to solve it and if your lucky you get bitcoin out of it, not every time do.
0 Jordan Ale · July 25, 2015
Very cool.

Everyone should note, there are a number of Bitcoin wallets available, each with unique benefits. Mobile, desktop and physical are a few of the popular mediums, and cold storage refers to a bitcoin wallet offline, while hot storage is a network ready device.

You can check out your options for a

here.
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