How to Buy Bitcoin – Step One

The simplest way to learn about bitcoin, is to jump in and get a few in your “pocket” to get a feel for the way they work.

Despite the hoopla about how precisely difficult and dangerous it is usually, getting bitcoins is a lot easier and safer than you might think. In a whole lot of ways, it is probably easier than starting an account at a conventional bank. And, given what has been happening in the banking system, it is probably safer too. bitcoin vs ethereum

There are some things to learn: getting and by using a software wallet, understanding how to send and receive money, understanding how to buy bitcoin from a person or an exchange. 

Preparing

Before getting started, you should have to get yourself a wallet. This can be done easily enough by registering with one of the exchanges which will host wallet for you. And, although I do believe you are going to want to have one or more exchange wallets eventually, you ought with one on your own computer both to get an improved feel for bitcoin also because the exchanges are still experimental themselves. When ever we get to that stage of the conversation, We are advising that you get in the behavior of moving your cash and coins off the exchanges or diversifying across exchanges to keep your money safe.

Just what wallet?

That is a way to maintain your bitcoins. Especially, it is software that has been built to store bitcoin. It can be run using your desktop computer, laptop, mobile device (except, as yet, Apple) and can be made to store bitcoins on things like thumb drives. If you are concerned about being hacked, then that is a great option. Even the Winklevoss* twins, with millions spent in bitcoin, put their investment on hard disk drives which they then put into a security deposit container.

*The Winklevoss twins are the ones who at first had the idea for a social networking site that became Facebook. That they hired Mark Zuckerberg who took their idea as his own and became immensely rich.

What do you need to know about having a bitcoin wallet on your desktop?

Below you can download the original bitcoin wallet, or customer, in Windows or Mac pc format. These are not merely wallets, but are in fact part of the bitcoin network. They may acquire, store, and send your bitcoins. You can create one or more address with a click (an address is a quantity that looks like this: 1LyFcQatbg4BvT9gGTz6VdqqHKpPn5QBuk). You will see a field to can copy and paste a number like this from a person you want to deliver money to and off it will go directly into that person’s wallet. You can even produce a QR code which will let someone take a picture with an iphone app on their phone and send you some bitcoin. It is properly safe to offer these out – the address and QR code are both for my contributions page. Feel free to donate!

NOTE: This type of wallet acts both as a wallet for you and as part of the bitcoin system. The reason bitcoin works is the fact every transaction is broadcast and recorded as several across the complete system (meaning that every transaction is verified and made irreversible by the network itself). Any kind of computer with the right software can participate that system, checking and assisting the network. This pocket serves as your personal wallet and also as an assistance for that system. Therefore, know that it will take up 8-9 gigabytes of your pc’s memory. After you set up the wallet, it will take as much as a day for the wallet to sync with the network. This is certainly normal, does not harm your laptop or computer, and makes the system as a whole less dangerous, so it’s a good idea.