Millions of people all over the world are acquiring Bitcoin (BTC) through direct purchase, P2P networks, block chain technology mining, and by creating a signature or private key wallet with other crypto-currencies that are every bit as valid as Bitcoin.
Here is what every BTC beginner should remember:
Get a Secure Wallet Via Downloading
Most of the downloadable BTC wallets share a common set of functions, like the ability to keep a list of all your transactions, to sell and to buy, to show you your account balance, and to hold however many addresses you have where the BTC is stored. Note that there are literally hundreds of different wallets available online, so be sure to shop around and find one that is well-reviewed and offers functionality to your liking.
Put Newly Purchased Bitcoin Into Your Wallet
Think about joining a Bitcoin online exchange where you can set up a secure wallet, buy and sell BTC, and participate in forums all in one location. Or you can just buy BTC from an individual, from an online seller, or a Bitcoin ATM. You will need to have you BTC wallet address ready to give the seller so they can place the BTC into your account when you pay them.
Learn How to Send and Receive BTC
It’s very easy to receive and send Bitcoin, but there are several steps you’ll need to learn in order to successfully transact these events. Within an exchange, you merely need to express an interest to send and then copy the receiver’s BTC address into the space provided. Make absolutely sure that you have the correct amount and address because BTC transactions are final.
To receive BTC, all you need to do is provide the sender your exact public BTC address. To purchase Bitcoin from an exchange, know that most exchanges accept bank-backed debit cards, credit cards, and bank transfers. BTC ATMs accept cash and will either print out a paper wallet as your receipt or ask you for your wallet code so the BTC can be sent to that account.
Never Stop Learning
There’s much more to the world of sending and receiving BTC than what is mentioned above, but that is certainly enough information for you to get started with a basic wallet set-up and putting a small amount of BTC into your account.
Educate yourself by reading a few books about Bitcoin and continuing to follow current events related to the crypto-currency market, laws that are passed regarding BTC, and political developments that might affect cryptocurrency.
It really is simple to get started with Bitcoin as an investor. As the premier cyber currency in current use, BTC has already established itself in the primary way for potential investors to earn a decent return on the future price movements of Bitcoin.
Keep in mind that “getting started” means you’ll have to do some homework, discover your preferred way to buy BTC, and most of all, decide on a secure wallet system that has strict access controls in place.