Hello, good morning everyone, how are we all doing?This is my first online money making article, there have been many posts by many authors on this same topic, and it is still surprising that many brothers and sisters out there are still oblivious about this and that is why I am directly making this post for them.
What is Bitcoin? Bitcoin is a CryptoCurrency, a kind of money that doesn't exist in reality but it actually does exist and the value keeps increasing. Every money/bank requires a central bank to operate, but cryptocurrency is entirely independent of a central bank.Just like the native cash we see and use every day, Bitcoins can as well be used to receive or make payment for goods and services. 1BTC as of 3-10-2016 is valued at $616. Imagine how much you could have if you manage to invest today and secure 10 bitcoins for yourself. Do the maths and see how rich you could be.
A Bitcoin wallet is a Virtual Bank, your digital bank that only exists in computers where you send or receive your payments in Bitcoins. For clearer understanding: Let's take for example you wish to send or receive money to/from someone.yYou send them your Bank details and the wire the money into your bank account and then you receive a transaction alert either on your mobile or via your email address notifying you that either a credit or debit transaction has occurred in your account and also stating the detail of the transaction which entails amount sent/received, name of depositor, time, etc. A Bitcoin wallet is like your regular bank account but with one or two differences. You don't get to see the bank or go to their office to open the account, you don't get to have one-on-one interaction with the bank or its staffs, but you can enjoy their services.
There are several options to choose from when it comes to opening a Digital Bank Account (Bitcoin Wallet) like Bitx, Coinbase, etc but I have used Blockchain and I am also recommending it for starters and novices who wish to own a bitcoin account today, invest and starting with it. All you have to do is to follow these simple steps and guidelines listed below.
Step 1. Visit www.blockchain.info with your PC, once the page opens, click on Wallet.
Step 2. Once you click on wallet, you will see an image like this on below
Step 3 Now click on Create A Free Bitcoin Wallet, and you will be taken to a signup page, where you will be required to fill up the signup form. Pls make sure you have an active email address before signing up.
Step 4 Once you have completed the signup process, you'll be required to complete the registration process using a link that will be sent to you to the e-mail address you used for registration.
Step 5 Upon completion of the signup process, you assigned a unique Bitcoin address which is like your regular account number but can only be used when transacting in Bitcoins. Pls, note that these Bitcoin addresses are valid for once in every transaction. This means that each Bitcoin address is valid for 1 transaction only. The system will automatically generate a new BTC
Step 6 To fund your Bitcoin, you need to invest money in it, just like in the case of opening a bank account, you'll need to deposit a certain amount of money in it. Bitcoin are sold like every other commodity out there, you meet a seller, you pay a certain amount of money, and he or she will send you the Bitcoin equivalent straight to your BTC Account/Wallet but be careful out there, there are scammers there, you can contact me personally, and I will give you contacts of my most trusted Bitcoin sellers.
In the next posts, I will be how to use your bitcoin wallet to send or receive money, and also, the benefits you can get with Bitcoin. Stay tuned. If you have any question, pls fill free to ask using comments.
Below is a short video about Bitcoins
What is Bitcoin? Bitcoin is a CryptoCurrency, a kind of money that doesn't exist in reality but it actually does exist and the value keeps increasing. Every money/bank requires a central bank to operate, but cryptocurrency is entirely independent of a central bank.Just like the native cash we see and use every day, Bitcoins can as well be used to receive or make payment for goods and services. 1BTC as of 3-10-2016 is valued at $616. Imagine how much you could have if you manage to invest today and secure 10 bitcoins for yourself. Do the maths and see how rich you could be.
What is a Bitcoin Account/Address/Wallet?
A Bitcoin wallet is a Virtual Bank, your digital bank that only exists in computers where you send or receive your payments in Bitcoins. For clearer understanding: Let's take for example you wish to send or receive money to/from someone.yYou send them your Bank details and the wire the money into your bank account and then you receive a transaction alert either on your mobile or via your email address notifying you that either a credit or debit transaction has occurred in your account and also stating the detail of the transaction which entails amount sent/received, name of depositor, time, etc. A Bitcoin wallet is like your regular bank account but with one or two differences. You don't get to see the bank or go to their office to open the account, you don't get to have one-on-one interaction with the bank or its staffs, but you can enjoy their services.
How To Open A Bitcoin Account/Wallet
There are several options to choose from when it comes to opening a Digital Bank Account (Bitcoin Wallet) like Bitx, Coinbase, etc but I have used Blockchain and I am also recommending it for starters and novices who wish to own a bitcoin account today, invest and starting with it. All you have to do is to follow these simple steps and guidelines listed below.
Step 1. Visit www.blockchain.info with your PC, once the page opens, click on Wallet.
Step 2. Once you click on wallet, you will see an image like this on below
Step 3 Now click on Create A Free Bitcoin Wallet, and you will be taken to a signup page, where you will be required to fill up the signup form. Pls make sure you have an active email address before signing up.
Step 4 Once you have completed the signup process, you'll be required to complete the registration process using a link that will be sent to you to the e-mail address you used for registration.
Step 5 Upon completion of the signup process, you assigned a unique Bitcoin address which is like your regular account number but can only be used when transacting in Bitcoins. Pls, note that these Bitcoin addresses are valid for once in every transaction. This means that each Bitcoin address is valid for 1 transaction only. The system will automatically generate a new BTC
Step 6 To fund your Bitcoin, you need to invest money in it, just like in the case of opening a bank account, you'll need to deposit a certain amount of money in it. Bitcoin are sold like every other commodity out there, you meet a seller, you pay a certain amount of money, and he or she will send you the Bitcoin equivalent straight to your BTC Account/Wallet but be careful out there, there are scammers there, you can contact me personally, and I will give you contacts of my most trusted Bitcoin sellers.
In the next posts, I will be how to use your bitcoin wallet to send or receive money, and also, the benefits you can get with Bitcoin. Stay tuned. If you have any question, pls fill free to ask using comments.
Below is a short video about Bitcoins
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