TOP QUALITY BITCOIN – So Simple Even Your Kids Can Do It

The best way to understand about bitcoin, is 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 a lot easier and safer than you might think. In a lot of ways, it is probably easier than opening a merchant account at a traditional bank. And, given what has been happening in the bank operating system, it is probably safer too.

There are a few what to learn: getting and utilizing a software wallet, learning how exactly to receive and send 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 one of many exchanges that will host wallet for you. And, although I think you are going to want to have a number of exchange wallets eventually, you need to start with one on your own computer both to have a better feel for bitcoin and because the exchanges are still 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 might be run on your pc, 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 drives which they then put into a safety deposit box.

*The Winklevoss twins will be 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 need to know about having a bitcoin wallet on your computer?

Below you can download the initial bitcoin wallet, or client, in Windows or Mac format. These are not just wallets, but are actually section of the bitcoin network. They’ll receive, store, and send your bitcoins. You can create a number of addresses with a click (an address is a number that looks like this: 1LyFcQatbg4BvT9gGTz6VdqqHKpPn5QBuk). You will notice a field where you can copy and paste lots like this from a person you would like to send money to and off it’ll go straight into that person’s wallet. You may also create a QR code which will let someone have a picture with an app on their phone and send you some bitcoin. It really is perfectly safe to give these out – the address and QR code are both for my donations page. Feel absolve to donate!

NOTE: This type of wallet acts both as a wallet for you personally and as the main bitcoin system. Paper wallet BITCOIN The reason bitcoin works is that every transaction is broadcast and recorded as lots over the entire system (and therefore every transaction is confirmed and made irreversible by the network itself). Any computer with the proper software can be part of that system, checking and supporting the network. This wallet serves as your personal wallet and in addition 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 require as much as a day for the wallet to sync with the network. This is normal, does not harm your personal 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, this can be a very easy to use option.
Seek out Bitcoin Qt wallet download to get their site.
Armory

Runs on top of Bitcoi Qt, so it has all of the same syncing requirements.
Armory permits you to 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 want to wait for your wallet to sync, you can find good wallets that do not make you sync the complete history of bitcocin:

Multibit

A lightweight wallet that syncs quickly. This is very good for new users.
Search for Bitcoin Multibit Wallet to get their site.
Electum

Not only is it quick and light, this wallet allows you to recover lost data utilizing a passcode.
Seek out Bitcoin Electum Wallet to get their site.
After you get the wallet set up, take 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. Take into account that bitcoins can be broken up into smaller pieces, so you might see a decimal with plenty of zeros after it. (Interesting note, 0.00000001 is one Satoshi, named following the pseudonymous creator of bitcoin).

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