How to Buy Bitcoin: Step one

The best way to learn about bitcoin, is to jump in and get a few in your "pocket" to get a feel for how they work.

Despite the hype about how difficult and dangerous it can be, getting bitcoins is a lot easier and safer than it might seem. In a lot of ways, it is probably easier than opening a free account at a traditional bank. And, given what has been happening in the banking system, it is probably safer too.

There are a few things to learn: getting and using a software wallet, learning how to send and receives a commission, learning how to buy bitcoin from a person or an exchange.

Before getting started, you will need to get yourself a wallet. You can do this easily enough by enrolling with one of the deals which will host wallet for you. And, although I think you are going to wish to have several exchange accessories eventually, you should start with one on your own computer both to get a better feel forĀ  Bitcoin Prime and because the deals are still trial and error themselves. When we get to that stage of the discussion, I will be advising that you get in the habit of moving your money and coins off the deals or diversifying across deals to keep your money safe.

What is a wallet?

It is a way to store your bitcoins. Specifically, it is software that has been designed to store bitcoin. It can be run on your personal computer, laptop, mobile device (except, confirmed, Apple) and can also be meant to store bitcoins on things like thumb drives. If you are concerned about being hacked, then that is a alternative. Even the Winklevoss* mixed twins, who have millions dedicated to bitcoin, put their investment on harddisks that they then put into a safety deposit box.

The Winklevoss mixed twins are the ones who originally had the idea for a social networking site that became Facebook. They hired Mark Zuckerberg who took their idea as his or her own and became exceptionally rich.

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

Below you can download the original bitcoin wallet, or client, in Windows or Apple computer format. These are not just accessories, but are in fact area of the bitcoin network. They will receive, store, and send your bitcoins. You can create several addresses with a click (an address is a number that looks like this: 1LyFcQatbg4BvT9gGTz6VdqqHKpPn5QBuk). You will see a field where you can copy and gravy a number like this from a person you want to send money to and off it will go into that man's wallet. You can even create a QR code which will let someone take a picture with an request on their phone and send you some bitcoin. It is perfectly safe to give these out : the address and QR code are both for my donations page. Feel free to give money!

This type of wallet acts both as a wallet for you and as part of the bitcoin system. The reason bitcoin works is that every transaction is broadcast and recorded as a number across the entire system (meaning that every transaction is confirmed and made irreversible by the network itself). Any computer with the right software can engage in that system, checking and supporting the network. This wallet serves as your personal wallet and also as a support for that system. Therefore, know that it will last up 8-9 gigabytes of your personal computer's memory. After you install the wallet, it will last as much as a day for the wallet to connect with the network. This is normal, does not harm your personal computer, and makes the device all together better, so it's a wise decision.

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