Section · First steps
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New to Bitcoin? Your journey starts here – with the big picture, the key questions and what you should know first.
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Stage 1 · Step 1optional for your goal
Bitcoin in 10 minutes
What Bitcoin is, how it works, why people use it and which risks you should know about – explained concisely and with sources.
In short · 5 points
- 01Bitcoin is digital money with no issuer: thousands of independent computers check every payment against the same public rules.
- 02The supply is capped at just under 21 million BTC, and more than 95% of it has already been issued.
- 03You don’t have to buy a whole bitcoin: 1 BTC is made up of 100 million sats.
- 04The price swings sharply: since 2013 it has fallen 77 to 85% three times, and 53% between October 2025 and June 2026. A total loss is possible.
- 05The most sensible first step is understanding – buying can wait.
Stage 2 · Step 4optional for your goal
Before you start
Final payments, sharp price swings, scams and tax: nine points you should know before you buy Bitcoin for the first time.
In short · 5 points
- 01Bitcoin payments are final – nobody can reverse them.
- 02Since 2013, the price has fallen three times by 77 to 85%. Only put in money you can do without.
- 03Build an emergency fund and pay off expensive debt first, then Bitcoin – never on credit or with leverage.
- 04Time pressure, promised returns and any request for your seed phrase are warning signs of fraud.
- 05Gains may be taxable, providers report to the tax authorities – and there’s no need to rush.
Reference
Common questions
The questions Bitcoin beginners ask most – buying, wallets, security, tax and criticism – answered briefly, each with a link to go deeper.
In short · 5 points
- 01You don’t have to buy a whole bitcoin – 1 BTC is made up of 100 million sats.
- 02Only buy from providers with EU authorisation under MiCA; you can check this in ESMA’s register.
- 03Your seed phrase is the key to your money: never share it, never store it digitally.
- 04Unlike money in a bank account, bitcoin have no deposit guarantee.
- 05In Germany, gains are tax-free under current law after a holding period of more than one year. Since 2026, providers have been collecting customer data for the Federal Central Tax Office.
Reference
What’s changing
MiCA, DAC8, the holding-period debate, the BIP-110 split and a COLDCARD bug: what is changing around Bitcoin right now – and whether you need to act.
In short · 5 points
- 01Since 1 July 2026, crypto providers in the EU need MiCA authorisation. Check your provider in ESMA’s register.
- 02In Germany, providers have been asking for your tax ID since 2026 and report your transactions to the Federal Central Tax Office, for the first time by 31 July 2027.
- 03Whether Germany’s holding period will be abolished has not been decided (as of late September 2026). Current law applies.
- 04The BIP-110 split did not change Bitcoin. COLDCARD owners should check which firmware their seed was generated with.
- 05None of this news is a reason for rushed buying or selling.
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