This page is aimed at all beginners who have heard of Bitcoin and cryptocurrencies but don't know where to start. We take you by the hand, make sure you don't make any beginner's mistakes and don't get robbed of your money by fraudulent sites. To save you time, we have prepared the most important questions for you.

What is Bitcoin?

• Bitcoin was developed in 2008 as an internet currency (cryptocurrency).
• In contrast to conventional currencies such as the dollar, euro or Swiss franc, the Bitcoin currency cannot be printed at will by central banks.
• The number of all Bitcoins that will ever exist is limited to a maximum of 21 million units.
• As the supply was significantly lower than the demand, Bitcoin was able to benefit from extreme price increases in the past.

Why should I buy Bitcoin?

• Bitcoin works independently of the traditional banking system and is therefore inflation-proof, forgery-proof and uncensorable.
• Bitcoin is a fundamentally new technology that can store and send monetary values. Bitcoin is also known as "digital gold".

How secure is Bitcoin?

• Bitcoin cannot be falsified or hacked
• Wealth through an investment in Bitcoin is not guaranteed, but hype and bubbles often occur, which means you can profit greatly.
• In the long term, Bitcoin shows a good upward trend, which is why a long-term investment will probably be worthwhile.

Will Bitcoin prevail as a means of payment?

• It cannot be ruled out, but it is very unlikely that Bitcoin will become the sole global currency of the future.
• It is very likely that Bitcoin will remain an alternative to state-issued currencies, as it has been until now.
• Bitcoin is currently more of a store of value and not necessarily optimized for daily use as a means of payment (similar to gold). For this reason, Bitcoin is also known as "digital gold".
• There are now many alternative cryptocurrencies, so-called "altcoins", which, at least on paper, would be better suited to becoming a global currency. However, this is also rather unlikely.

Is Bitcoin mainly used by criminals?

• Statistically, less than 1% of Bitcoin transactions were for illegal activities.
• Mostly, this fraction of transactions is due to scams. Highly illegal activities are usually not paid for with Bitcoin.
• So-called "privacy coins" are preferred for illegal activities, which is why Bitcoin is not the first choice. One example is Monero (XMR).
• Bitcoin is not as anonymous as many people think. Criminals know that Bitcoin is not as anonymous as many people think, which is why most people avoid Bitcoin.

Will Bitcoin be banned?

• Due to its decentralized nature, Bitcoin cannot be banned.
• Many countries cannot ban Bitcoin due to its decentralized nature, which is why they create framework conditions.
• In the EU, a ban on Bitcoin is very unlikely. Other countries, such as China, ban Bitcoin because their policies are different.