BTC.ee
Ancient source of Bitcoins in Tallinn, Estonia.
Bitcoins are a digital version of cash. They can be kept in a wallet on your computer to which only you have access, thus no one can freeze your account. Much like cash no one can tell you where you can spend your money, and it is possible to make payments without revealing personal information.
Who operates Bitcoins?There is no central bank and no central payment processor. Instead a distributed network of computers all over the world compete to process transactions. These are referred to as miners.
How are Bitcoins created?New Bitcoins are minted by miners every 10 minutes on average. The amount of newly minted Bitcoins is halved every four years, ensuring that there will never be more than 21 million Bitcoins in circulation. The limited supply exists to protect their value.
Do I need to install software?To keep a wallet on your own computer you will need to install the appropriate software. Alternatively there are also online wallets.
Why BTC.ee?We want to promote the use of Bitcoins by making it easier to convert small amounts of cash between Bitcoins and Euros without the need to open a trading account somewhere. While no longer trading ourselves we will continue to point people to such resources.
Why is BTC.ee closed?The current environment in Estonia makes it impossible to do any hobby trading without being targeted by the police.
Will BTC.ee open again?We have reopened in a more welcoming jurisdiction under the name CoinEra.eu.
Are there any professional exchanges in Estonia?No. A professional exchange is effectively impossible in Estonia given the current regulatory environment which requires that V.A.T. be levied and that customers be met in person. UPDATE: These idiotic requirements have since been removed.
BTC.ee was created as a hobby project by Otto de Voogd, and is now operated from the Netherlands.
This site is hosted in the United States of America and thus protected by the US Constitution, in particular the First Amendment, which guarantees freedom of speech. This site does not fall under the jurisdiction of any other country, including Estonia.