How to use Bitcoin? -


Using Bitcoin is rather easy, and if you have used online payment systems before like Paypal, you should be familiar with the procedures. There are some key features that make Bitcoin different than the aforementioned Paypal and other online payment systems.

Before you can use Bitcoin, there are two things you need. First is a wallet. A wallet is an application that you run on your computer, in the web, or on your phone and it stores your private keys and addresses. These are two fundamental parts of what makes a bitcoin transaction work, so make sure you have a working and up to date wallet before proceeding.

The second part you will need is Bitcoin itself. There are a multitude of ways to get Bitcoin, from buying them outright from exchanges or companies to receiving them from selling goods or services. It doesn’t matter how you get Bitcoin, but once you get your first Satoshi’s, it’s a lot easier to get Bitcoin after that.

As stated before, Bitcoin is unlike any online payment system that has existed before Bitcoin. For one, Bitcoin is controlled by no central figure, relying on everyone to host nodes and mine to keep the Bitcoin network and its transactions running smoothly. Second of all, instead of using names, when sending or receiving Bitcoins you provide an address, or a string of letters and digits which you put in the send to box.

In summary, all that is needed to start using Bitcoin is Bitcoin itself, a wallet, and an address. You need the Bitcoin so you can transact currency, a wallet to send it from, and an address to direct where you are sending it. Transactions should be instant, with confirm times every 10 minutes or so. When you get the hang of it, Bitcoin becomes just like sending emails.