Knowledge Bank

Knowledge Bank

Understanding the world of Bitcoin can be challenging, with its unique terms, evolving technology, and fluctuating prices. Our knowledge base is here to make things easier and help you get started.

What determines its value? How does the blockchain work? What is mining, and how do digital wallets function? We provide simple, clear explanations to these questions and more.

Since 2011, we’ve been helping people buy and sell Bitcoin, making us Sweden’s first in the space and one of the largest in the Nordics. Our success is built on the trust of our loyal customers and a dedicated team focused on improving our services.

Our knowledge bank is designed for anyone curious about Bitcoin currency and its ecosystem. Whether you’re new or looking to deepen your understanding, this resource offers valuable insights to guide you through this exciting space.

What is Bitcoin?

Bitcoin, or BTC, is a form of digital money that was created in 2009. Bitcoin differs from regular money because it only exists on the internet. No central bank or government controls Bitcoin; instead, it is managed by a network of computers that ensure all transactions are secure. We will now go through what Bitcoin is and how it works in a simple way.

Bitcoin wallet - How does it work?

A bitcoin wallet is needed to manage, buy, and sell bitcoin. It is a digital wallet that helps you keep your bitcoin safe. In this guide, we will go through what a bitcoin wallet is, how to get one, and what to consider when choosing a wallet.

Cryptocurrencies - how do they work?

Cryptocurrencies are digital or virtual currencies that use cryptography for security. Unlike traditional currencies, which are controlled by a central bank, most cryptocurrencies are decentralized and operate using a technology called blockchain. Bitcoin was the first cryptocurrency, launched in 2009, and has since inspired thousands of other digital currencies. Cryptocurrencies have become a global phenomenon, attracting investors and technology enthusiasts worldwide. But what exactly are cryptocurrencies, and how can you start investing in them? This guide provides an overview of cryptocurrencies and investments in them.

What is Bitcoin mining?

Bitcoin mining, also called digging, is a process for verifying transactions and adding them to the blockchain. It involves miners, who are individuals or entities that use powerful computers to solve complex mathematical problems. When a problem is solved, a new block is created and added to the blockchain, and the miner who solves the problem first is rewarded with bitcoin.

Pay with bitcoin – List of where you can shop using bitcoin

Using bitcoin for purchases has become a growing trend, and more people are wondering how to get started. Bitcoin ensures that your payments are secure and fast. In this guide, we’ll help you understand how to use bitcoin in a simple and safe way.

What is Bitcoin ETF?

A Bitcoin ETF is an exchange-traded fund that tracks the price of bitcoin, allowing investors to gain exposure to the cryptocurrency without owning it directly. For some investors, a Bitcoin ETF offers a simpler way to participate indirectly in the crypto market. A Bitcoin ETF combines the accessibility of exchange-traded funds with exposure to Bitcoin. Learn more about how Bitcoin ETFs work, the different types of Bitcoin ETFs, and whether they are available for trading in Sweden.

Historical development of Bitcoin

Bitcoin is one of the most revolutionary technologies of modern times. It has not only introduced a new perspective on money management but has also transformed the global economy. In this guide, we will explore Bitcoin's journey—from its launch and early price levels to its record highs and significance in Sweden today.

The future of Bitcoin - What does the forecast look like?

Bitcoin, the world’s first and most well-known cryptocurrency, has fascinated investors and tech enthusiasts for years. While its history is marked by volatility, many are curious about what the future holds. This article explores forecasts and factors influencing Bitcoin's value in both the short and long term.

Bitcoin certificate - How does it work?

Bitcoin certificates are financial instruments that offer investors a way to gain exposure to bitcoin without owning the currency itself, but instead buying the certificate through, for example, an investment savings account (ISK). In this article, we go through what bitcoin certificates are, their advantages and disadvantages, and how to buy a certificate.

How to protect yourself from common crypto scams

Cryptocurrencies offer freedom and opportunities, but they have also become a target for scammers. Whether you are new to crypto or an experienced user, it is essential to recognize and avoid fraud attempts. Here, we go through six common types of crypto scams and how to protect yourself.

How to Declare Taxes on Bitcoin & Cryptocurrencies - Step-by-Step Guide

Between March 18 and May 2, it's time to file your tax return in Sweden. In your declaration, it's essential to report if you have sold, exchanged, or used cryptocurrency for payments. If you made a profit, you must pay taxes on it, and if you incurred a loss, you can deduct part of it. This step-by-step guide explains how to declare Bitcoin and cryptocurrencies according to the Swedish Tax Agency (Skatteverket), common mistakes to avoid, and how to simplify your tax declaration using automated crypto tax services.

How to invest in cryptocurrencies

Investing in various cryptocurrencies has become increasingly popular in Sweden. Many Swedes are looking for ways to buy cryptocurrency or are wondering which cryptocurrency to buy. In this guide, BTCX helps you understand the basics of investing in cryptocurrency, whether you're a beginner or have some experience.

What is Ethereum?

Ethereum is a decentralized platform that enables the creation of smart contracts and decentralized applications (dApps). Unlike Bitcoin, which primarily functions as a digital currency, Ethereum is designed to be a flexible platform for various types of applications. The cryptocurrency used on the platform is called Ether (ETH).

What is Litecoin?

Litecoin (LTC) is one of the oldest and most established cryptocurrencies, often referred to as "digital silver" in comparison to Bitcoin’s "digital gold." Litecoin was created to offer faster and cheaper transactions, making it ideal for everyday use.

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