Bitcoin Shop Inc. offers a range of merchandise for purchase with virtual currencies, primarily Bitcoin. Bitcoin is a digital or virtual currency that uses a peer-to-peer network to facilitate instant payments. Bitcoin is categorized as a cryptocurrency, as it uses cryptography as a security measure. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allow users to make verified transfers. The Company serves as a medium between consumers wishing to spend Bitcoin and sellers wishing to receive sales driven by Bitcoin.