This guide will teach you how to use Bitcoins. The entire concept of how Bitcoin works can be a bit difficult to understand at first, we have created a simplified guide which includes everything that you will need to know about Bitcoins in a single page.
Choose your Bitcoin Wallet
When it comes to Bitcoin Wallets there are two options available to users, the first one is a cloud based wallet that can be accessed anywhere by the user with their internet, the second one is downloadable where the user downloads the wallet to their computer.
Every available wallet has some functionality and benefits attached to them, but their basic purpose is to move currency from one place to the other.
- Cloud Wallets:
Easy and simple to use, cloud wallets offer easy access to your Bitcoins as they are on the cloud, but there is a small risk involved as you are handling over your money’s responsibility over to a third party. There are some trustable websites online with a clean track record which you can consider before making an investment
- Software Wallets:
Software wallets are exactly as they sound; they come in the form of an executable program that can run from your computer. This type of Bitcoin wallet is considered more secure as the user has complete control over the currency; however some risks are still involved.
I Looked Into my Wallet and it Was Empty…
Buying and selling Bitcoins is relatively easy and there are multiple options available for users to buy and sell Bitcoins keeping anonymity. Most online Bitcoins users prefer using bitstamp.net for purchase and selling of their Bitcoins from and to GBP/EUR/USD physical currencies.
Some websites where you may purchase or sell Bitcoins:
Let’s Go Shopping Baby!
Bitcoins come with simplicity; the transactions involving Bitcoins are extremely simple and almost instant. When purchasing from a store or a website using Bitcoins, they will provide you with a relevant address where you may send Bitcoins in order to approve the purchase, all you have to do is open your wallet and direct the pre-specified amount of Bitcoins to finalize the purchase.
Transactions involving Bitcoins are almost instantaneous but in some cases it may take up to an hour or two to arrive.