The best way to understand about bitcoin, would be to jump in and get a few in your “pocket” to acquire a feel for how they work.
Despite the hype about how exactly difficult and dangerous it could be, getting bitcoins is easier and safer than you may think. In plenty of ways, it really is probably easier than opening an account at a traditional bank. And, given what has been happening in the bank operating system, it really is probably safer too.
There are a few what to learn: getting and using a software wallet, learning how to receive and send money, learning how to buy bitcoin from the person or an exchange.
Preparation
Before getting started, you will need to get yourself a wallet. You can certainly do this easily enough by registering with one of many exchanges which 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 by yourself computer both to have a better feel for bitcoin and because the exchanges remain experimental themselves. When we get to that stage of the discussion, I will be 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 like thumb drives. In case you are concerned about being hacked, then that is 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 networking site that became Facebook. They hired Mark Zuckerberg who took their idea as his own and became immensely rich.
What do you should know about having a bitcoin wallet on your computer?
Below you can download the original bitcoin wallet, or client, in Windows or Mac format. These are not just wallets, but are actually section of the bitcoin network. They will 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 see a field where you can copy and paste lots like this from the person you wish to send money to and off it’ll go directly into that person’s wallet. You can even create a QR code that will let someone take a picture with an app on the 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 sort of wallet acts both as a wallet for you personally and as section of the bitcoin system. The reason why bitcoin works is that every transaction is broadcast and recorded as a number across the entire system (meaning that every transaction is confirmed and made irreversible by the network itself). Any computer with the proper software can be section 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 each day for the wallet to sync with the network. This is normal, does not harm your computer, and makes the system all together more secure, so it’s a good idea.
Bitcoin Qt
The original wallet.
This is usually a full-featured wallet: create multiple addresses to receive 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.
Seek out Bitcoin Qt wallet download to get their site.
Armory
Runs along with Bitcoi Qt, so it has all the same syncing requirements.
Armory lets you back up, encrypt, and the capability to store your bitcoins off line.
Search for Bitcoin Armory Wallet to get their site.
If you don’t want to have that much memory used or don’t desire 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. 코인커뮤니티 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.
Search for Bitcoin Electum Wallet to get their site.
After you get the wallet set up, have a few minutes clicking around. Things to look for:
o There will be a full page that shows you just how many bitcoins are currently in your wallet. Keep in mind that bitcoins can be broken up into smaller pieces, so you may see a decimal with plenty of zeros after it. (Interesting note, 0.00000001 is one Satoshi, named after the pseudonymous creator of bitcoin).