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Bitcoin is a payment system introduced as open-source software in 2009 by developer Satoshi Nakamoto. The payments in the system are recorded in a public ledger using its own unit of account, which is also called bitcoin. Payments work peer-to-peer without a central repository or single administrator, which has led the US Treasury to call bitcoin a decentralized virtual currency. Although its status as a currency is disputed, media reports often refer to bitcoin as a cryptocurrency or digital currency.

Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. Called mining, individuals or companies engage in this activity in exchange for transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for fiat money, products, and services. Users can send and receive bitcoins electronically for an optional transaction fee using wallet software on a personal computer, mobile device, or a web application.

Bitcoin as a form of payment for products and services has seen growth,and merchants have an incentive to accept the digital currency because fees are lower than the 2-3% typically imposed by credit card processors. The European Banking Authority has warned that bitcoin lacks consumer protections. Unlike credit cards, any fees are paid by the purchaser not the vendor. Bitcoins can be stolen and chargebacks are impossible. Commercial use of bitcoin is currently small compared to its use by speculators, which has fueled price volatility.

Bitcoin has been a subject of scrutiny amid concerns that it can be used for illegal activities. In October 2013 the US FBI shut down the Silk Road online black market and seized 144,000 bitcoins worth US$28.5 million at the time. The US is considered bitcoin-friendly compared to other governments. In China, buying bitcoins with yuan is subject to restrictions, and bitcoin exchanges are not allowed to hold bank accounts.

How do I get a Bitcoin address ??

  1. Sign up with Coinbase here: https://www.coinbase.com/singup
  2. Go to the Addresses Section here: https://www.coinbase.com/addresses
  3. Click ‘Create New Address’
Any address you create here will remain associated with your Coinbase account forever. You can generate as many addresses as you like.

  1. Sign up with Blockchain here: https://blockchain.info/wallet/#/signup
  2. Go to the Settings Section here: https://blockchain.info/wallet/#/settings/addresses
  3. Click ‘Add New Address’
Any address you create here will remain associated with your Blockchain account forever. You can generate as many addresses as you like.

How to earn Free Bitcoins ??

Earn Free Bitcoins daily from Survey Sites and Faucet Sites by completing simple tasks, solving Captcha's, finding identical images, Etc....

What is Faucet Site ??

Bitcoin faucets are a reward system, in the form of a website or app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website.

What is Survey Site ??

A paid or incentivized survey is a type of statistical survey where the participants/members are rewarded through an incentive program, generally entry into a sweepstakes program or a small cash reward, for completing one or more surveys.

Some Recommended Free Bitcoin Sites are Given Below