What is Bitcoin?

Bitcoin is a decentralised cryptocurrency, it is an efficient and robust way of sending and receiving money without the need for banks or centralised organisations controlling it. Bitcoin is starting to gain a lot of momentum both online and offline. Every day more and more businesses and individuals use Bitcoin. You can buy products and services with it both online and offline. Yes, Bitcoin is worth real money, right now one Bitcoin is worth:

Bitcoinreward is a site that allows you to easily earn Bitcoin. A lot of people are reluctant to get into Bitcoin because they may have heard negative opinions from other people or from the media. The truth is that Bitcoin is just another currency and can be used as such. There is nothing inherintly bad about Bitcoin nor is it any way shape or form a scam. Bitcoinreward give you the chance to earn Bitcoin completely free, the only thing it costs you is your time. You simply get yourself a free Bitcoin address and register to Bitcoinreward with it. Earning from Bitcoinreward is as simple as this:

1. Get yourself a free Bitcoin address
2. Signup to Bitcoinreward with your Bitcoin address
3. Complete simple offers, watch videos, and complete other simple tasks to earn Bitcoin
4. Once you have reached the payment threshold you will be paid

The section below explains how to get yourself a Bitcoin address.

To send and receive Bitcoin you will need a Bitcoin wallet. Your wallet is virtual and in most cases is accessed by a small piece of software. There are many different software wallets you can use but one of the easiest is Electrum. Once you have installed the software, you will be given a wallet 'address' (you can find this under the 'Receive' tab on Electrum), which is a long string of alphanumeric characters. This is the address you enter on our website to start earning Bitcoin!

Alternatively you might like to use an online wallet provider, you can sign up for a free account and get a Bitcoin address with it. We recommend either Kraken or Bitstamp

Bitcoin can be converted into real money at a number of different websites. Two popular and well used sites are Coinbase and Localbitcoins. These sites allow you to sell your Bitcoin and deposit your funds into your bank account for a very small fee. A host of other sites exist also and a quick Google search for "Sell Bitcoin" will give you plenty of options.

You will notice on our site we use something called Satoshi when we pay you. A Satoshi is the smallest denomination of Bitcoin:

1 Satoshi = 0.00000001 ฿
10 Satoshi = 0.00000010 ฿
100 Satoshi = 0.00000100 ฿
1,000 Satoshi = 0.00001000 ฿
10,000 Satoshi = 0.00010000 ฿
100,000 Satoshi = 0.00100000 ฿
1,000,000 Satoshi = 0.01000000 ฿
10,000,000 Satoshi = 0.10000000 ฿
100,000,000 Satoshi = 1.00000000 ฿

At Bitcoinreward we give you 500 Satoshi for just entering your Bitcoin address and another 2,000 for confirming your email address. We have offers that pay up to 100,000 Satoshi (0.001 Bitcoin or around $10.65 / £8 at the time of writing!) Don't forget that by referring other people, you will get 10% commision on all the offers they complete for life. We have many members who earn double figures per day from their referrals so we actively encourage you to refer as many people as possible to maximise your earnings.

If you want to find out more, be sure to check out our Ultimate Beginners Guide To Bitcoin on our blog.