And can I cash them whenever I want? Bitcoin has value that can be converted to regular currency or used to make purchases from merchants who accept bitcoins. In this sense, they are real money and will remain so as long as there is a market and people willing to buy bitcoins. To "cash" bitcoins, you need someone to sell them, exchanging for dollars or other currency. The exchange markets which process these transactions often have failures that prevent some people from accessing the account or making transactions for some time, especially during periods of significant changes in the value of bitcoins. So do not think that you can sell bitcoin at any time when you want.