The best way to learn 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 usually is, getting bitcoins is easier and safer than you might think. In plenty of ways, it is probably easier than opening a merchant account at a normal bank. And, given what has been happening in the banking system, it is probably safer too.
There are a few what to learn: getting and using a software wallet, learning how to send and receive money, learning how exactly to buy bitcoin from the person or an exchange.
Preparation
Before getting started, you will have to get yourself a wallet. You can do this easily enough by registering with among the exchanges that will host wallet for you personally. And, although I think you will definitely want to have one or more exchange wallets eventually, you need to start with one on your own computer both to acquire a better feel for bitcoin and as the exchanges remain experimental themselves. When we reach 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 made to store bitcoin. It can be run on your desktop computer, laptop, mobile device (except, as yet, Apple) and can also be produced to store bitcoins on things like thumb drives. For anyone who is worried about being hacked, then that is clearly a good option. Even the Winklevoss* twins, who have millions committed to bitcoin, put their investment on hard disks which they then put 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 their own and became immensely rich.
What do you must know about having a bitcoin wallet on your pc?
Below you can download the initial bitcoin wallet, or client, in Windows or Mac format. These are not just wallets, but are actually part of the bitcoin network. They’ll 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 one can copy and paste a number like this from the person you want to send money to and off it will go straight into that person’s wallet. You can also create a QR code which 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 area of the bitcoin system. The reason bitcoin works is that each 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 right software can be part of that system, checking and supporting the network. This wallet serves as your personal wallet and also as a support for that system. Therefore, remember that it will require up 8-9 gigabytes of your computer’s memory. Once you install the wallet, it will take as much as a day for the wallet to sync with the network. That is normal, does not harm your computer, and makes the system as a whole more secure, so it’s advisable.
Bitcoin Qt
The original wallet.
This is usually a full-featured wallet: create multiple addresses to get bitcoins, send bitcoins easily, track transactions, and back up your wallet.
Outside of the time it takes to sync, that is a very easy to utilize option.
Search for Bitcoin Qt wallet download to find their site.
Armory
Runs on top of Bitcoi Qt, so it has each of the same syncing requirements.
Armory lets you back up, encrypt, and the capability to store your bitcoins off line.
Seek out Bitcoin Armory Wallet to find 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 do not make you sync the entire history of bitcocin:
Multibit
A lightweight wallet that syncs quickly. This is good for new users.
Search for Bitcoin Multibit Wallet to find their site.
Paper wallet BITCOIN Electum
Not only is it 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. What to look for:
o There will be a full page that shows you how many bitcoins are in your wallet. Remember that bitcoins can be split up into smaller pieces, so you might see a decimal with a lot of zeros after it. (Interesting note, 0.00000001 is one Satoshi, named after the pseudonymous creator of bitcoin).
