The Ugly Truth About TOP QUALITY BITCOIN

The best way to understand about bitcoin, is to jump in and get several in your “pocket” to have a feel for how they work.

Despite the hype about how difficult and dangerous it could be, getting bitcoins is easier and safer than you may 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 banking system, it is probably safer too.

There are a few what to learn: getting and utilizing a software wallet, learning how exactly to send and receive money, learning how exactly to buy bitcoin from a person or an exchange.

Preparation

Before getting started, you will need to get yourself a wallet. You can certainly do this easily enough by registering with one of 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 obtain a better feel for bitcoin and as 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 money and coins off the exchanges or diversifying across exchanges to keep your money safe.

What is a wallet?

It is a way to store your bitcoins. Specifically, it really is software that has been designed to store bitcoin. It can be run on your pc, laptop, mobile device (except, up to now, Apple) and can also be made to store bitcoins on things like thumb drives. In case you are concerned about being hacked, then that is clearly a great option. Even the Winklevoss* twins, who’ve millions committed to bitcoin, put their investment on hard drives which they then placed into a safety deposit box.

*The Winklevoss twins will be the ones who originally had the theory for a social media site that became Facebook. They hired Mark Zuckerberg who took their idea as their own and became immensely rich.

What do you should know about having a bitcoin wallet on your computer?

Below you can download the original bitcoin wallet, or client, in Windows or Mac format. They are not just wallets, but are in fact the main bitcoin network. They will receive, store, and send your bitcoins. You can create one or more addresses with a click (an address is a number that appears like this: 1LyFcQatbg4BvT9gGTz6VdqqHKpPn5QBuk). You will see a field where you can copy and paste lots like this from a person you intend to send money to and off it’ll go directly into that person’s wallet. You can also create a QR code that will let someone take a picture with an app on their phone and send you some bitcoin. It really is perfectly safe to provide these out – the address and QR code are both for my donations page. Feel free to donate!

NOTE: This kind of wallet acts both as a wallet for you personally and as section of the bitcoin system. The reason why bitcoin works is that every transaction is broadcast and recorded as lots 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 section of that system, checking and supporting the network. This wallet serves as your individual wallet and also as a support for that system. Therefore, remember that it will require up 8-9 gigabytes of one’s computer’s memory. After 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 computer, and makes the system all together more secure, so it’s advisable.

Bitcoin Qt

The original wallet.
This is 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 requires to sync, this is a very easy to use option.
Search for Bitcoin Qt wallet download to get their site.
Armory

Runs along with Bitcoi Qt, so that it has each of the same syncing requirements.
Armory enables you to back up, encrypt, and the ability to store your bitcoins off line.
Search for Bitcoin Armory Wallet to find their site.
If you don’t want to have that much memory used or don’t want to await your wallet to sync, you can find good wallets that not make you sync the complete history of bitcocin:

Multibit

A lightweight wallet that syncs quickly. This is good for new users.
Buy Gift Cards With Bitcoin Seek out Bitcoin Multibit Wallet to get their site.
Electum

Not only is it quick and light, this wallet lets you recover lost data using a passcode.
Seek out Bitcoin Electum Wallet to get their site.
After you obtain the wallet set up, have a few minutes clicking around. Things to look for:

o There will be a full page that shows you just how many bitcoins are currently in your wallet. Take into account 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).