Assets, Bitcoin

Can You Buy Bitcoin With Money Order?

A money order is a payment order for a pre-specified amount of money. As with a check, a money order is only as good as the funds that back it up.

Money orders are often used for payments when cash or checks aren’t accepted. They’re also useful when the payee wants to be sure they receive the full payment amount and doesn’t want to wait for a check to clear.

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.

NOTE: WARNING: Buying Bitcoin with a money order is not recommended due to the high potential for scams and fraud. Additionally, there is no guarantee that the Bitcoin you purchase will be delivered or that you will receive your money back if something goes wrong. It is highly advised to only buy Bitcoin from reputable exchanges or online services that are verified and secure.

Bitcoin is unique in that there are a finite number of them: 21 million.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.

As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

Previous ArticleNext Article