Bitcoins are designed to radically lower the Cost of Financial Transactions. While you can quickly pay a two-digit Euro Amount for a foreign Bank Transfer through a traditional Bank, the Fee for a Bitcoin Transaction is low, sometimes in the Cent Range. In Addition, the Transaction usually takes only Minutes, no matter how large the geographical Distance between two Accounts is.

The Digital Currency is traded “Peer-to-Peer“, directly between Users without the Help of Banks. This is made possible by the use of Blockchain Technology. Within the System, all Transactions are stored multiple Times and decentrally. This can not only enable Currency Transactions without Intermediary, but also, for Example, Real Estate transactions – the Role of the Notary then takes over by the Blockchain System. Bitcoin Inventor Satoshi Nakamoto described his Concept in his famous “White Paper”, the Founding Document of the Community, in 2008. Bitcoins also work “permissionless”, so they can be used without Permission from a technical Regulator. The Internet Currency is also “trustless” which means that Investors do not have to rely on external Parties, such as the Authority of State Regulators or Central banks, to use Bitcoins.

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