These are the questions that come up most consistently in community Bitcoin education sessions and conversations with new users. The answers are designed to be direct, honest about uncertainty where it exists, and free from hype.
Getting Started
Do I need to buy a whole Bitcoin?
No. Bitcoin is divisible into very small units. The smallest unit is called a satoshi, and one Bitcoin is made up of 100,000,000 (100 million) satoshis. You can buy, receive, and send any amount, including a very small amount. You do not need to own a whole Bitcoin to use it.
What do I need to receive Bitcoin?
A smartphone with a Bitcoin wallet application installed. Most well-regarded wallet apps are free to download from your phone’s official app store. Once installed and set up, you can receive bitcoin by sharing your wallet address or QR code.
Is it complicated to set up?
The setup process itself is not long, but there is one step that requires careful attention: writing down and safely storing your recovery phrase (a sequence of 12 or 24 words). This step is critical for your security. If you treat it seriously, the rest of setup is straightforward. The Beginner Wallet Checklist walks through every step.
Can I use Bitcoin without a bank account?
Yes. That is one of Bitcoin’s most relevant properties in communities with limited banking access. A wallet is separate from any bank account, and you can send or receive bitcoin without one.
What wallet should I use?
There is no single answer because the best choice depends on your region, device, and how you intend to use Bitcoin. Ask a trusted facilitator or community member what is most commonly used in your area and what has reliable local support. Starting with a commonly used wallet means more people nearby can help you if you have a question.
Transactions
How long does a transaction take?
A standard Bitcoin transaction typically takes 10 minutes to an hour to confirm, depending on network conditions. A Lightning Network transaction (used for small payments) usually completes in a few seconds. If you are making a small payment to a merchant, Lightning is usually used.
Can I cancel a transaction I just sent?
No. Once a Bitcoin transaction is broadcast to the network, it cannot be reversed. This is why it is important to check the recipient address carefully before confirming any send. If you have sent to the wrong address, the funds are lost.
What are transaction fees?
Each Bitcoin transaction pays a small fee to the network. The fee amount varies depending on how busy the network is. Lightning Network transactions have very small fees. For large or occasional transactions, main-network fees are usually manageable; they are only a concern for very small transactions where the fee might be a significant percentage of the amount sent.
What is a QR code and why do I scan it?
A QR code is a machine-readable image that contains information, in this case a Bitcoin address or Lightning invoice. Scanning it with your phone’s camera copies the address into your wallet automatically, which is faster and reduces the chance of typing error. Most wallet apps include a built-in QR scanner.
What if a transaction does not arrive?
First check that the payment was actually sent from the other side. Then check whether the transaction is pending (sent but not yet confirmed) or does not appear at all. A pending transaction means the network has received it but it has not confirmed yet. If after a reasonable time nothing has arrived and you are sure it was sent, check that the address or invoice was correct. Lightning invoices expire after a set time if payment is not received.
Safety
Is Bitcoin safe?
Bitcoin as a network has operated continuously without being hacked since it started. Your personal security depends on how you handle your own wallet and recovery phrase. The risks are: losing your recovery phrase (which means losing access to your funds permanently), having your recovery phrase stolen, and being tricked by a scam. Following good security practices manages these risks significantly.
How do scams usually work?
The most common Bitcoin scams operate by:
- Promising guaranteed returns on investment (no legitimate investment guarantees returns)
- Asking you to send bitcoin first to receive more back (“double your bitcoin” schemes)
- Pretending to be official support for a wallet or exchange and asking for your recovery phrase
- Creating urgency so you act quickly without thinking
If an offer sounds too good to be true, it is. If anyone asks for your recovery phrase, they are attempting to steal from you.
What if my phone is lost or stolen?
Your bitcoin is not stored on your phone; it is accessible to anyone who has your recovery phrase. A phone thief with access only to your locked device and not your recovery phrase cannot access your funds. Change your phone’s lock PIN as a precaution, and restore your wallet on a new device using your recovery phrase.
What if I forget my recovery phrase?
If you have written it down correctly and stored it safely, you will not forget it because you will not need to memorise it. If the paper with your phrase is lost and your device is also unavailable, your funds cannot be recovered. There is no customer service that can restore a wallet without the recovery phrase.
Can the government take my Bitcoin?
A non-custodial wallet that you control cannot be seized by a third party because no third party has access to your keys. Your funds are controlled by your recovery phrase. This is different from funds held in a bank or custodial exchange, where access is controlled by the institution.
Understanding Bitcoin
Who controls Bitcoin?
No single person, company, or government controls Bitcoin. The network is run by thousands of independent computers around the world. Changes to the rules of Bitcoin require broad agreement among the network’s participants. This is different from any currency or payment system controlled by a central authority.
Is Bitcoin the same as cryptocurrency?
Bitcoin is a cryptocurrency, but not all cryptocurrencies are Bitcoin. Bitcoin was the first and is the largest by use. There are thousands of other cryptocurrencies with different designs, goals, and track records. This site focuses specifically on Bitcoin and does not cover other cryptocurrencies.
Why does Bitcoin have a price?
Bitcoin has a price because people are willing to exchange other things for it, in the same way that gold, local currencies, or other assets have prices. The Bitcoin price is set by supply and demand across exchanges globally. The price changes continuously.
Why is the price so volatile?
Bitcoin’s market is smaller and less liquid than major national currency markets, which means individual large trades or news events can move the price significantly. The price has historically been volatile over short periods while showing a different pattern over longer periods. Volatility is a genuine risk and should be taken seriously by anyone holding bitcoin.
Can Bitcoin be used offline?
Standard Bitcoin and Lightning transactions require an internet connection. There are experimental approaches to offline Bitcoin transactions but they are not in common use and are not recommended for beginners.
Practical Use
Where can I spend Bitcoin?
In communities with active Bitcoin adoption programmes, some local merchants accept it. Beyond that, online services increasingly accept Bitcoin. The Local Circular Economies project page has more on how merchant acceptance develops in community settings.
Is Bitcoin useful for sending money across borders?
Yes. Bitcoin can be used to send value internationally without using a traditional remittance service. The recipient needs a Bitcoin wallet. Fees and speed vary depending on whether Lightning is used. The Bitcoin and Remittances guide covers this in detail.
Can children or young people use Bitcoin?
Young people can learn about Bitcoin and participate in educational settings with adult supervision. Using Bitcoin independently, including managing a wallet, requires understanding the security responsibilities involved. The Youth Sport and Bitcoin project page describes how we approach Bitcoin education for young people.
Questions This Resource Does Not Answer
These questions come up and are beyond the scope of a general reference guide:
- Specific tax treatment of Bitcoin in your country (consult a local tax professional)
- Whether a specific investment, exchange, or service is legitimate (we cannot evaluate individual services)
- Predictions about Bitcoin’s future price (no one can reliably predict this)
If you have a question that is not answered here, the FAQ page covers more ground, and the Guides section has detailed reading on specific topics.