Simple Way to Get Started With Bitcoin

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Are you new to Bitcoin? Haven’t you heard about the cryptocurrency before? It is awesome because you now have an opportunity to understand something really interesting. It is a very promising and simply amazing invention. Some experts call it the best invention of the decade. And it really seems to be one of the best. So, here is a short introduction to Bitcoin and a guide for everyone who’d like to start using this great cryptocurrency.


What is it? Bitcoin is a decentralized cryptocurrency which is based on blockchain technology. The technology and Bitcoin itself were invented by an anonymous programmer, Satoshi Nakamoto, who uploaded all his code as open source in 2009. Blockchain technology is the key point, the essential feature of Bitcoin which makes it valuable and so popular. In short, Bitcoin is a string of code which cannot be forged, copied or faked in any way. This makes it very valuable because it is able to be used as a currency which can be evaluated on market. The main idea of blockchain technology is mining. Mining is a particular process to solve specific problems to prove transactions which are performed with Bitcoins. For instance, if you send money to a friend, you will have to wait for a period until your Bitcoins are verified through hundreds of miners around the world. For more details, see this video.

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Getting Started

So, do you now understand how it works and realize that it is a really exciting prospect? Well, you are now probably interested in how you can use this cryptocurrency in your daily life.

First, you have to download an online wallet for your Bitcoins. For now, you do not have them at all but you need a wallet to store them somewhere.

So, we can recommend to you this good list of online wallets on the official website. You can also download the official client but it takes a lot of your computer’s hard drive space, about 20Gb. Most online wallets are available without downloading a huge amount of data and provide only the service of storage and transferring your Bitcoins. Moreover, you can get a lot of others wallet from the Internet. For example, it is a good way to look at exchanges which usually also offer their online wallets.

Related: Still Do Not Know How to Join a Bitcoin Mining Pool? The Answer is Here

Then, when you find a good, reliable wallet for your Bitcoins, you need to buy the Bitcoins somewhere. If you do not have Bitcoins, you have to get them first of all. Bitcoin exchanges are good places for such a deal. You may start with the most popular and well-known and probably find the best one. We can recommend to you three good and reliable exchanges. Coinbase is one of the oldest and most respected Bitcoin exchange with good liquidity and services. Second, you might consider Bitstamp. It’s a good and fast service with a great design and interface. And last but not least, is Kraken. We can recommend this Bitcoin exchange platform because it appears to be promising and reliable. However, it is up to you. When using any exchange, you have to attach your bank account in order to make a deposit and then simply buy the amount of Bitcoins you need.

That’s all. Now you can begin and store your Bitcoins, buy goods, pay for services, transfer to anyone you want or get them from anyone else.

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