Who created Bitcoin?
In the 1980s and 1990s, technology and privacy enthusiasts sought to create a digital currency independent of any government or institution.
Several attempts emerged: Ecash, Digicash, Cybercash, E-gold, HashCash.
In 2008, an individual or group under the pseudonym Satoshi Nakamoto published a white paper titled: Bitcoin: A Peer-to-Peer Electronic Cash System.
This marked the birth of Bitcoin.
What is Bitcoin?
Before being a currency, Bitcoin is a computer protocol.
It enables the storage and transfer of value over the Internet, without going through a bank. This protocol is built around a digital asset: bitcoin (BTC).
Bitcoin has the essential characteristics of money:
Durable and portable
Divisible (you can buy a fraction of a bitcoin)
Easy to send and store
Issued in a limited and predictable quantity: there will never be more than 21 million bitcoins
Unlike traditional currencies such as the euro or the dollar — which central banks can issue in unlimited quantities — bitcoin cannot be created outside the rules set by its protocol.
Bitcoin is subject to significant price fluctuations. Its value can rise or fall rapidly. It is recommended to invest only what you are prepared to lose.
How do Bitcoin transactions work?
When you own bitcoin, you hold it in a digital wallet. Bitstack is an application that allows you to send and receive Bitcoin.
Each wallet generates a unique address for each transaction. This address works like an identifier: it allows funds to be sent or received securely.
All transactions are recorded on the Bitcoin blockchain. The blockchain is a public database shared across thousands of computers around the world. It ensures that every transaction is verified and cannot be altered.
This verification is carried out by computers solving complex calculations. This process is called mining. In return for this work, these computers receive newly created bitcoins.
How do I use Bitcoin on Bitstack?
Buy bitcoin:
You can buy Bitcoin from the app in three ways:
One-time — buy the amount of your choice in a single transaction, at any time, starting from just €1.
Recurring — schedule automatic purchases at the frequency that suits you: daily, weekly, or monthly.
Round-ups — every everyday purchase is rounded up to the nearest euro. The difference is automatically invested in Bitcoin each week.
Sell bitcoin
You can sell all or part of your Bitcoin at any time. The amount is credited to your cash account if it has been activated, or otherwise to your bank account.
Send bitcoin
You can send Bitcoin to an external address from the app. Simply enter the recipient's address and the amount you wish to send.
Receive bitcoin
You can receive Bitcoin from an external address. Your receiving address is available directly in the app.