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Bitcoin is the world’s most popular digital currency and also the oldest. Since its launch in 2009, it has spawned new ways to revolutionize the financial world. It continues to grow as more and more people learn about this fantastic breakthrough. If you’re interested in using Bitcoin, how do you get started?
Read this article now and learn how to get started with Bitcoin and become a profitable cryptocurrency investor now. Here’s a step by step guide for you.
Step 1: Download Bitcoin Wallet
A Bitcoin wallet is an app or a program that enables you to send and receive Bitcoins. These wallets also keep track of your balance in Bitcoin, which is contained in one or more Bitcoin addresses. In General wallets have a feature that lets you view the history of your Bitcoin transactions.
You can find many different wallets across different platforms. Even though they all share the same basic functions, their features vary from one wallet to wallet. That means you might need to learn more about choosing a Bitcoin wallet before downloading that first wallet that hits your fancy.
Step 2: Put Some Bitcoin in Your Wallet
After you have got your wallet, of course, you would want to slap some Bitcoins in there for your balance.
What you can do is to find a Bitcoin exchange where you can easily (and securely) set up an account and buy Bitcoins with funds from a bank account or a credit card.
Keep your private keys private and never share them with anyone, ever. It’s also imperative to backup your wallet’s private key, as well as any other credentials for offline storage. Failing to backup them could lead to you losing your Bitcoin holdings if you should ever lose the device where your Bitcoin wallet has been installed.
Step 3: Send and Receive Bitcoin
To receive Bitcoins from senders, all you have to do is give them your public address. But when you send some Bitcoins, you might have to undergo a few more steps.
Bitcoin transactions are irreversible. And because of that, it’s important to pay attention when you’re sending Bitcoins.
In general, sending Bitcoins is quite easy. First, copy the receiver’s public Bitcoin address. Find the “send” feature on your wallet, and then paste the receiver’s address into the right field. Specify the amount of Bitcoins that you want to send. Confirm the address and the amount, making sure that they are both correct.
It’s actually quite convenient to use Bitcoin since it’s accepted by thousands of individuals, websites, and brick and mortar businesses around the world.
The steps above are just an introduction to the things that you can do with Bitcoin and the Blockchain technology. And because Bitcoin is now treated as real money, it is important to have a solid and keen understanding of all the aspects connected to receiving, storing, and spending.
It will be better if you learn more about the proper way of choosing a Bitcoin wallet, Bitcoin exchange, and try to avoid Bitcoin fraud as much as you can.
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