Getting started with Bitcoin

Friday, June 23, 2017

Getting started with Bitcoin

Here’s the fastest way to get started with Bitcoin:

Step 1: Create a Bitcoin Wallet

A Bitcoin wallet is a software program where Bitcoins are stored. To be technically accurate, Bitcoins are not stored anywhere; there is a private key (secret number) for every Bitcoin address that is saved in the Bitcoin wallet of the person who owns the balance. Bitcoin wallets facilitate sending and receiving Bitcoins and gives ownership of the Bitcoin balance to the user. The Bitcoin wallet comes in many forms; desktop, mobile, web and hardware are the four main types of wallets.

Popular Bitcoin Wallets

    Blockchain
    Coinbase
    ChangeTip


Step 2: Put Some Bitcoin in Your Wallet

Different Ways to Obtain Bitcoin

    Accept Bitcoin as a payment for goods or services
    Receive Bitcoin from a friend or someone near you
    Buy Bitcoin directly from an exchange
    Bitcoin faucets: A Bitcoin faucet is a webpage that gives out users a very small amount of Bitcoins every few minutes.

    Popular Bitcoin Exchanges

    Bitfinex
    Coinbase
    Cryptsy

Step 3: Start Using Bitcoin

The most secure payment option available today is BitPay. Not only does Newegg rely on it to process every Bitcoin transaction, but so do over 50,000 businesses and organizations around the world. If BitPay is good enough for WordPress, Microsoft, and countless other companies we do business with; it’s good enough for us.

Popular Bitcoin Payment Gateways

    BitPay
    gocoin
    Bitcoin Payments for WooCommerce

If you follow the steps, you should have no problems using Bitcoin.

Using Bitcoin is actually fun.