Bitcoin is known as the very first digital currency that removed the middleman as well as found a way that they could go around the bank and its payment processors. Bitcoin is a market that is decentralized and is going to be spread out across the world making it to where virtually everyone can use it. The only thing that a consumer is going to have to have is a stable internet connection. Of course, there are going to be other things that a consumer is going to need in order for them to properly mine, but they were discussed in previous chapters and will be discussed again in this chapter.
Get coins. There are several ways that you are going to be able to get coins, and it is all up to you on how you want to obtain those coins. You can either buy coins if you have the money to do so. Or, if you are good at math, you can mine coins by solving mathematical equations.
Get a Bitcoin wallet. You do not have to know how a computer works inside and out or know any coding in order to know that you need to have an account where your coins can be stored safely. There is a lot of money on Bitcoin that a third party is not controlling and this is one of the major benefits that you are going to find when it comes to using Bitcoin. Along with that, there will be some trades that are going to cost a million dollars, and all of the money will be what entices hackers to try and get into the system so that they can get the money for themselves. So, instead of putting your money in your mattress, you are going to be safer keeping your coins to yourself instead of trusting them to a Bitcoin trade. Any wallet that you find listed below is not going to require that a third party have any sort of access to your coins.
Obtain a public address. Once the wallet that meets your needs, you will have to get a public address. You are going to need to wait for around twenty minutes to get a confirmation that tells you that you have completed the steps correctly. When you have gotten this email, you are going to see some coins placed in your wallet.
Shop, give away, donate and invest every coin that you get in your possession. The sky is going to be the limit when it comes to what you are going to be able to do with your coins.
Give them to a friend so that you can show them how to use Bitcoin.
Invest with Bitcoin. There are around twenty-one million coins that have been created in the blockchain, and the coins worth is going to increase. As an investor, you are going to have to hold your block and just wait for it to bring you money.
You are going to be able to take your coins and convert them into gift cards for sites such as Dell or Overstock. There are going to be stores that are going to accept Bitcoin, but that will depend on where you live because not every store has caught onto digital currency yet.
Donate your coins because just like spending your coins in stores, there are sites that are going to allow you to spend Bitcoins so that their site can continue to run.
And now you are going to be able to use Bitcoin. It may not seem simple when you are looking at it because there are going to be a lot of steps that you are going to go through but you are going to be able to do it.
You are going to have to get used to how the platform works and how things work before you are truly able to use Bitcoin. But, once you get used to it, it is going to be like anything else that you have to learn how to use. You will have a period of learning, and you are bound to make some mistakes, just make sure that you get over making mistakes before it is too late and you end up losing all of your Bitcoins.
One of the best things that you can do is make sure that you are learning from other people’s mistakes so that you can try and save yourself some time.