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What is Bitcoin?

Bitcoin is a form of digital currency maintained through a ledger, also known as a blockchain. Bitcoin can be used as a way to pay for goods or services electronically. It is a decentralized digital currency that is not tied to a central bank or administrator and can be sent from one user to another within the Bitcoin network. Across the network are “nodes” – computers running the blockchain software that can be set up by anyone – that are in charge of validating transactions and storing them in “blocks,” the term for files that store transaction information on the blockchain. This decentralized network makes Bitcoin highly resistant to tampering or fraud, because nodes have to be in consensus about the transaction information stored across the ledger

Bitcoin Wallet

A Bitcoin wallet is a software program for storing and transacting Bitcoin. Wallets are available in many forms, including desktop, mobile, web-based, and physical hardware.

How do I get Bitcoin?

There are three main ways to get Bitcoin.

Option 1:

You can mine for Bitcoin by using a software “miner” that processes and verifies transaction while recording it on the blockchain in return for Bitcoin. Mining efficiency is based on computer hardware performance and the difficulty is controlled by the Bitcoin network to ensure the distribution of Bitcoin properly. Generally, most people that use Bitcoin do not mine to obtain it.

Option 2:

You can buy Bitcoin using cryptocurrency exchanges. There are many available, such as Coinbase, Coinsquare, Kraken, etc.

Option 3:

Another user can send you Bitcoin to your wallet.

Can I cancel my order if I used Bitcoin?

An order can be cancelled as long as it has not been shipped out. You would need to call our customer service in order to cancel. Any refund for Bitcoin purchases would be returned in the form of a Newegg Gift Card.

Can I return items that were purchased using Bitcoin?

All orders fully paid for with Bitcoin are final and cannot be returned for Bitcoin or hard currency. All returns will be made in the form of a Newegg Gift Card. All returns follow our return policy.

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