How to buy Bitcoin – Step One
The best way to learn about Bitcoin, is to jump and get some in your “pocket” to feel how they work.
Despite the exaggeration of the difficult and dangerous, it can be, obtaining Bitcoins is much easier and safer than you might think. In many ways, it is likely to be easier than opening an account on a traditional bank. And, given what has been happening in the banking system, it is likely to be safer as well.
There are some things to learn: get and use a software wallet, learning how to send and receive money, learning to buy Bitcoin from a person or an exchange.
Before starting, you must get you a wallet. You can do it enough to register with one of the exchanges that will take charge of the wallet for you. And, although I think you will want to have one or more exchange wallets, you should start with one on your own computer to get a better feeling of Bitcoin and because the exchanges continue to experience. When we reach that stage of the discussion, I will advise that you get the habit of moving your money and currencies from exchanges or diversifying exchanges to keep your money safe.
What is a wallet?
It is a way to store your bitcoins. Specifically, it is a software that has been designed to store Bitcoin. You can run on your desktop computer, laptop, mobile device (except, so far, Apple) and can also be done to store Bitcoins on things like the thumb units. If you are worried to be hacked, then that is a good option. Even the twins of Winklevos *, who have millions of people invested in Bitcoin, put their investment on hard drives that then put in a safe.
* The twins of Winklevos are those that originally had the idea of a social networking site that became Facebook. They hired Mark Zuckerberg, who took his idea as his and became immensely rich.
What do you need to know about having a Bitcoin wallet on your computer?
Next, you can download the original Bitcoin wallet, or client, in Windows or Mac format. These are not only wallets, but in fact they are part of the Bitcoin network. They will receive, store and send their bitcoins. You can create one or more addresses with a click (one address is a number that looks like this: 1lyfcqatbg4bvt9ggtz6vdqqhkppn5qbuk). You will see a field where you can copy and paste a number like this one of a person you want to send money to and turn it off, go directly to that person’s wallet. You can even create a QR code that will allow someone to take a picture with an application on your phone and send a bit of bitcoin. It is perfectly safe to give these: the address and QR code are both for the donation page. Feel free to donate!
Note: This type of wallet acts as much as a wallet for you and as part of the Bitcoin system. The reason why Bitcoin works is that each transaction is transmitted and registered as a number throughout the system (which means that each transaction is confirmed and made irreversible by the network itself). Any computer with the right software can be part of that system, verify and support the network. This wallet serves as your personal wallet and also as a support for that system. Therefore, keep in mind that it will occupy 8-9 gigabytes from your computer’s memory. After installing the wallet, it will take as much as a day so that the wallet is synchronized with the network. This is normal, it does not harm your computer and makes the system a safer, so it is a good idea.