Top Bitcoin exchange explains virtual currency in simple web tutorial

bitcoins.com screengrab

Leading Bitcoin exchange Mt. Gox has released a new website that provides a simple explanation of what Bitcoin actually is. The site, Bitcoins.com, is essentially a tutorial on the virtual currency, a single unit of which last week reached the price of $1,000 for the first time ever last week. Mt. Gox's site walks users through the basics — what Bitcoin is, why people use it, and how it works — before leading into a step-by-step guide on how to get started. It's certainly not a comprehensive rundown, but the site could prove useful for the uninitiated or those who struggle to understand the Bitcoin concept.

Mt. Gox also released a new one-time password (OTP) card this week as part of an effort to strengthen the security of user accounts. The OTP card, announced Wednesday, allows users to set one-time passwords for their Mt. Gox accounts, thereby preventing hackers and scammers from gaining access to compromised accounts. (Security has been an ongoing issue for Mt. Gox and other Bitcoin-related services.) And, like many other companies this week, Mt. Gox is offering a Black Friday deal: zero-percent trading fees for four days. The promotion runs from Friday morning through midnight on Monday (Tokyo time).

The Verge
Log In Sign Up

Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.



Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.