The best way to learn about bitcoin, would be to jump in and get several in your “pocket” to obtain a feel for how they work.
Despite the hype about how difficult and dangerous it might be, getting bitcoins is a lot easier and safer than you might think. In plenty of ways, it 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 things to learn: getting and utilizing a software wallet, learning how to receive and send money, learning how to buy bitcoin from a person or an exchange.
Before getting started, you need to get yourself a wallet. You are able to do this easily enough by registering with one of the exchanges that will host wallet for you. And, although I think you will want to have a number of exchange wallets eventually, you should start with one on your own computer both to get a better feel for bitcoin and because the exchanges are still experimental themselves. When we reach 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 help keep your money safe.
What is a wallet?
It is a solution to store your bitcoins. Specifically, it is software that has been designed to store bitcoin. It can be run on your pc, laptop, mobile device (except, as yet, Apple) and can also be made to store bitcoins on things such as thumb drives. wallet paper bitcoin In case you are worried about being hacked, then that is a great option. Even the Winklevoss* twins, who have millions committed to bitcoin, put their investment on hard disks which they then placed into a safety deposit box.
*The Winklevoss twins will be 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 need to know about having a bitcoin wallet on your pc?
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 one or more addresses with a click (an address is really a number that looks like this: 1LyFcQatbg4BvT9gGTz6VdqqHKpPn5QBuk). You will notice a field where you could copy and paste lots like this from a person you wish to send money to and off it’ll go directly into that person’s wallet. You can also create a QR code that may let someone have 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 type of wallet acts both as a wallet for you personally and as the main bitcoin system. The reason bitcoin works is that each transaction is broadcast and recorded as lots over the entire system (meaning that 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 in addition as a support for that system. Therefore, be aware that it will require up 8-9 gigabytes of one’s computer’s memory. After you install the wallet, it will take as much as each day for the wallet to sync with the network. That is normal, does not harm your personal computer, and makes the system as a whole more secure, so it’s advisable.
The original wallet.
This can be 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 requires to sync, this is a very easy to utilize option.
Seek out Bitcoin Qt wallet download to find their site.
Runs along with Bitcoi Qt, so that it has each of the same syncing requirements.
Armory permits you to back up, encrypt, and the ability to store your bitcoins off line.
Seek out Bitcoin Armory Wallet to get their site.
If you don’t want that much memory used or don’t want to wait for your wallet to sync, you can find good wallets that do not make you sync the complete history of bitcocin:
A lightweight wallet that syncs quickly. This is very good for new users.
Search for Bitcoin Multibit Wallet to get their site.
Not only is it quick and light, this wallet permits you to recover lost data using a passcode.
Seek out Bitcoin Electum Wallet to get their site.
After you obtain the wallet set up, have a few minutes clicking around. What to look for:
o There will be a full page that shows you just how many bitcoins are in your wallet. Remember that bitcoins can be broken up into smaller pieces, so you might see a decimal with a lot of zeros after it. (Interesting note, 0.00000001 is one Satoshi, named following the pseudonymous creator of bitcoin).