Skip to main content

Bitcoin (BTC)

What is Bitcoin?​

Here are 5 key points about the Bitcoin Blockchain:

  • Bitcoin is a digital currency that exists only in the internet. You can't hold it in your hand like paper bills or coins.

  • Bitcoin is decentralized which means there's no one person or organization in charge of it. Unlike regular money that's controlled by governments and banks.

  • There will only ever be 21 million Bitcoin that will exist, which makes it different from regular money that can be printed endlessly.

  • When you buy something with Bitcoin, the transaction is recorded on a decentralized ledger, called a blockchain. This makes it secure and very hard for anyone to cheat or steal.

  • The value of Bitcoin is very volatile, its price can go up and down very quickly.


Learn more about Bitcoin by reading the Gem Wallet Learn article:
What Is The Bitcoin Blockchain?

Bitcoin on Gem Wallet​

Gem Wallet has full support for Bitcoin. As soon as you setup a new Multi-coin wallet, you will get your own Bitcoin address.

Gem Wallet can be used to:

  • Buy Bitcoin (BTC) with fiat using debit/credit cards.
  • Hold Bitcoin securely.
  • Send Bitcoin to any Bitcoin wallet.
  • Receive Bitcoin via SegWit (Bech32) receiving addresses.

Bitcoin on Gem Wallet

How to Get Bitcoin?​

Here are some ways to acquire some Bitcoin:

  • Buy Bitcoin (BTC) directly on the Gem Wallet app.
  • Receive Bitcoin with the unique Bitcoin address on the Gem Wallet app.

Buying Bitcoin with Gem Wallet Receive Bitcoin with Gem Wallet

Transaction Fees on the Bitcoin Blockchain​

The fees on Bitcoin are summarized as follows:

  • Paying a higher fee for your transaction increase the chance of it to be processed quickly.
  • Paying a lower fee could cause your transaction to take longer.
  • Fees vary depending on network demand and the size of the transaction.

Bitcoin Transaction Fees


You can check the current transaction fees on Bitcoin by going to this site, which is also a BTC Blockchain explorer.

How to Check BTC Balance?​

Gem Wallet app connects to the BTC blockchain to show the BTC balance on your wallet. Tap on the 3 dots then tap on View address on Blockchair.

Bitcoin Balance on Gem Wallet View Address on Blockchair


Blockchair is the default BTC explorer of Gem Wallet. You can manually check balances and transactions by going to Blockchair and search for your BTC address.

Checking Bitcoin Balance on Blockchair Checking Bitcoin Transaction on Blockchair