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.
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.
Coinme is an online Bitcoin exchange service that allows you to buy and sell Bitcoin. While this service may be convenient, it is important to note that the timeframe for receiving your Bitcoin can vary greatly. Depending on the amount of Bitcoin being transferred and other factors, it can take anywhere from minutes to days to receive your Bitcoin. Additionally, network congestion can also affect how long it takes to receive your Bitcoin. Therefore, if you are looking to receive your Bitcoin quickly, use caution when using Coinme and be aware that delays can occur.
Coinme is a digital currency exchange and wallet service headquartered in Seattle, Washington. The company was founded in 2014 by Paul Chapman and Neil Bergquist.
Coinme allows customers to buy and sell Bitcoin and other digital currencies using cash at more than 2,200 retail locations in the United States. The company has plans to expand its services to Europe and Asia.
It typically takes about 10 minutes for a transaction to be verified by the Bitcoin network. However, it can take longer or shorter depending on the fee you pay and the number of transactions being processed at the time.
Coinme does not control how long it takes for a transaction to be verified by the Bitcoin network.