The best way to understand about bitcoin, would be to jump in and get several in your “pocket” to get a feel for how they work.
Despite the hype about how difficult and dangerous it is usually, getting bitcoins is a lot easier and safer than you might think. In a lot of ways, it really is probably easier than opening a merchant account at a normal bank. And, given what has been happening in the banking system, it really is probably safer too.
There are a few what to learn: getting and utilizing a software wallet, learning how exactly to receive and send money, learning how exactly to buy bitcoin from the person or an exchange.
Preparation
Before getting started, you need to get yourself a wallet. You can certainly do this easily enough by registering with one of the exchanges that will host wallet for you personally. And, although I think you are likely to want to have a number of exchange wallets eventually, you need to start with one on your own computer both to obtain a better feel for bitcoin and as the exchanges remain experimental themselves. When we get to that stage of the discussion, I am advising that you get in the habit of moving your cash and coins off the exchanges or diversifying across exchanges to keep your money safe.
What is a wallet?
It is a way to store your bitcoins. Specifically, it really is software that has been designed to store bitcoin. It could be run on your pc, laptop, mobile device (except, as yet, Apple) and can also be made to store bitcoins on things like thumb drives. In case you are concerned about being hacked, then that is clearly a great option. Even the Winklevoss* twins, who’ve millions committed to bitcoin, put their investment on hard drives which they then placed into a safety deposit box.
*The Winklevoss twins are the ones who originally had the idea for a social media site that became Facebook. They hired Mark Zuckerberg who took their idea as his own and became immensely rich.
What do you have to know about having a bitcoin wallet on your computer?
Below you can download the original bitcoin wallet, or client, in Windows or Mac format. They are not just wallets, but are in fact area of the bitcoin network. They’ll receive, store, and send your bitcoins. You can create a number of addresses with a click (an address is really a number that appears like this: 1LyFcQatbg4BvT9gGTz6VdqqHKpPn5QBuk). You will see a field where you can copy and paste a number like this from a person you would like to send money to and off it’ll go directly into that person’s wallet. 코인커뮤니티 can also create a QR code that will let someone take a picture with an app on their phone and send you some bitcoin. It is perfectly safe to provide these out – the address and QR code are both for my donations page. Feel absolve to donate!
NOTE: This kind of wallet acts both as a wallet for you and as part of the bitcoin system. The reason why bitcoin works is that every transaction is broadcast and recorded as lots over the entire system (and therefore every transaction is confirmed and made irreversible by the network itself). Any computer with the right software can be part of that system, checking and supporting the network. This wallet serves as your individual wallet and also as a support for that system. Therefore, remember that it will take up 8-9 gigabytes of your computer’s memory. After you install the wallet, it will require as much as a day for the wallet to sync with the network. That is normal, does not harm your personal computer, and makes the system all together more secure, so it’s advisable.
Bitcoin Qt
The original wallet.
It is a full-featured wallet: create multiple addresses to get bitcoins, send bitcoins easily, track transactions, and back up your wallet.
Outside of the time it takes to sync, this is usually a very easy to use option.
Search for Bitcoin Qt wallet download to find their site.
Armory
Runs on top of Bitcoi Qt, so it has each of the same syncing requirements.
Armory lets you back up, encrypt, and the capability to store your bitcoins off line.
Seek out Bitcoin Armory Wallet to get their site.
If you don’t want to have that much memory used or don’t want to await your wallet to sync, you can find good wallets that not make you sync the complete history of bitcocin:
Multibit
A lightweight wallet that syncs quickly. This is good for new users.
Seek out Bitcoin Multibit Wallet to get their site.
Electum
In addition to being quick and light, this wallet lets you recover lost data using a passcode.
Seek out Bitcoin Electum Wallet to find their site.
After you get the wallet set up, take a few minutes clicking around. Things to look for:
o There will be a page that shows you just how many bitcoins are currently in your wallet. Understand that bitcoins can be split up into smaller pieces, so you might see a decimal with plenty of zeros after it. (Interesting note, 0.00000001 is one Satoshi, named after the pseudonymous creator of bitcoin).