Bitmynt started as a simple exchange service run by one person in 2010. We have only exchanged Bitcoin, not various "crypto" currencies. We do not hold Bitcoin or Norwegian kroner for customers either. We believe that you only actually own Bitcoin if you have the private keys yourself. Otherwise, others determine when you can access your money. We also have not aimed for short-term speculation with quick buying and selling, but focus on those who think of long-term savings and the use of Bitcoin as a means of payment. We will build the services needed for you to be able to manage without a Norwegian bank account and replace your Norwegian kroner with Bitcoin.
Since our inception in 2010, we have tried to be the best exchange service in Norway while always being honest and standing by our principles. We have never tried to trick anyone into buying or selling. You will receive no reward from us for trading more than you need to or for referring others. We warn customers whom we believe are in danger of being scammed, as the last thing we want is to help scammers. We do not believe in centralization or "crypto". We strongly believe in privacy and do our best to never share more information about our customers than is required by law. We do not lock anyone in, but instead try to help competing services get started. You can even rent this trading platform if you want to start a similar service in another country! More competitors make bitcoin more robust and challenge us to build even better services, and we believe in bitcoin!
What is bitcoin?
Bitcoin is a virtual currency that does not exist as physical bills or coins. The currency is completely decentralized. It does not depend on any central bank or central issuer. New money is distributed fairly based on proof of work, not as a reward for having money already or in the form of credit (loans). In El Salvador, bitcoin has been an official currency (legal tender) since 2021, but the country does not control any aspect of how bitcoin works or the exchange rate. All the important properties of bitcoin were set in stone when Satoshi Nakamoto released the source code and started the blockchain in 2009. No central bank can change them, for example by increasing the money supply or giving themselves more money in other ways.