With the development of cryptocurrencies, it becomes easier to work with them. Now a beginner does not need to read multi-page instructions in English, understand a complex interface of incomprehensible programs and configure specialized equipment. All it takes is a few minutes to start working with Bitcoin.
On the other hand, independence comes with responsibility. There are no attentive consultants here to explain how to press each button. There is no 24-hour support service, no state guarantees and the DIA system. Bitcoin transactions cannot be rolled back and returned to the way they were. If you want to be in full control of your funds and sleep well – you have to learn the basics of safe handling of cryptocurrency.
In time you will get experience and all this will not seem complicated anymore, but for now we will start with the simplest. The first step to using Bitcoin is to choose and install a wallet, or as experts say, a network client.
The so-called “easy” wallets can be installed both on a PC and a mobile device. They are ready to go in a few minutes, but they don’t keep a complete database and have to query the other nodes that make up the global network.
If you want maximum reliability and independence, install the full client. You will have to pay for this with several tens of gigabytes on your hard drive, and the initial synchronization will take at least three hours. The choice between speed and reliability is yours.
To get into the technology, you can use one of the online wallet services, which are simple websites where you can manage your balance and make transactions through a web interface. Very similar to the already familiar Internet Bank. But in this case bitcoins can be lost not only by you, but also by the wallet operator. Therefore, it is better not to keep large sums of money there.
Let’s go!
So you have a wallet.. Now it’s time to think about where to get bitcoins. We’ll figure out how to acquire them with minimal risk and expense. The process is much easier now than it was a few years ago.
Bitcoins appear in a wallet in the same way that any other currency appears in a wallet or on a bank card, because almost all modern money, even the ruble or dollar, is virtual to some degree.. Cashless payments in them occur on the same networks as in cryptocurrencies – only the inner essence differs. Bitcoins can be earned, bought or given as gifts.
Work for Bitcoin
Just two years ago, mining was the main way to mine Bitcoin. Work of miners is paid in cryptocurrency, but the period of easy and profitable mining is long over. Now only owners of large “farms” with cheap or free electricity can effectively mine, and the entry threshold is getting higher.
Business owners can earn bitcoins by connecting to accept payment for their goods and services. For example, U.S. retail giant Overstock, in its first year of integration, confirmed a large number of new customers.
In some countries it is possible to receive BTC as wages. For example, there are already websites that offer employers and job seekers the opportunity to post a job ad for cryptocurrency. Popular and most commonly offered options – pay for developers, journalists, photographers, designers and other freelancers. Payment in bitcoin for articles and transfers, posting news about cryptocurrencies is also provided on our site.
Bitcoin as a gift
There are ways to get BTC for free. So-called Satoshi Cranes are sites that offer free bitcoins, but in very small amounts.
Most of all the gift satoshi (one hundred million BTC) is offered for attracting newbies as referrals, that’s why the internet is full of such offers. As a rule, the gift is offered for entering captchas or viewing ads and advertisements. Such giveaways will be a waste of your time. Just calculate the income from the cranes for a few days – and most likely it will appear that you have accumulated a few pennies.
The time and effort you spend may not pay off at all. Thousands of sathos accumulated in the internal accounts of such services will suddenly be blocked without explanation, or the site will suddenly disappear. Don’t fall for that line.
But there are more satisfying gifts, such as those from friends and bitcoin enthusiasts who use ChangeTip, Telebit, and Gliph, social networking apps, or bonuses in games.. These micropayments are designed to reward authors of interesting posts, articles, pictures, photos, and other content.
It’s worth reminding that people make gifts only from the heart, and begging is strongly discouraged in the cryptocommunity.
Buying
You can buy bitcoins from exchangers, exchanges, terminals and ATMs which support their purchase.
Exchange services
The easiest, but at the same time not always the most profitable way is to buy bitcoins via exchangers.
Exchange services allow you to convert regular money into BTCs and back at internal rates. It is quite another matter whether you are satisfied with the proposed exchange value. Keep in mind that the price at a particular point in time is determined by the owners of these services, plus add to that the commissions for bank or electronic transfers.
A simple, convenient solution for finding the best exchange rates in exchangers has already been implemented. Special monitoring sites have been created, which show only verified and reliable services. This information is provided by BestChange.ru and Web-payment in the form of charts and tables displaying the data on the offered bitcoin value and reserves of these exchangers.
Before you use an exchange service, look for reviews of the service online, and be sure to check the blacklist for a previously unknown and suddenly very profitable exchanger.
The compromise between the exchanger and the exchanger can be private individuals – exchangers who sell and buy cryptocurrency. As a rule, they offer more favorable conditions than exchangers. But it can also be risky to use their services. However, there are private sellers with a good reputation.
Cryptocurrency exchanges
An exchange is a marketplace for trading cryptocurrencies, where professional traders and investors meet, as well as amateurs who came to buy their first bitcoin and stayed, carried away by the exchange game. The number of exchanges counts in the tens and is constantly increasing. Any exchange member can fund his internal account and offer others to buy or sell the desired amount of cryptocurrency at a certain price.
The principle of all exchanges is the same:
- First you need to deposit the money into the account you created when you registered at the exchange, usually with the help of electronic payment systems
- When you have money in your account you can create an order by setting the price and amount to buy or buy based on the orders offered. As a rule, exchanges charge from 0.1 to 0.5% for transactions
- As soon as there is a buyer or seller who satisfies the price, the transaction takes place and the BTC are credited to your balance. After that you can withdraw bitcoins to your personal wallet. Once again, the exchange will take a small commission.
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In addition to the fact that exchanges grow like mushrooms after the rain, some of them have a tendency to suddenly disappear without saying thank you to former clients for the money received. Trade on large, time-tested exchanges. But even that won’t give you full guarantees.
Exchanges differ in the number of currency pairs and language support. Which one you choose is up to you.
Bitcoin machines and terminals
For someone unfamiliar with online commerce, it may be easier to buy coins from a bank or payment terminal.
The interface with the device is pretty straightforward. Buyers either deposit cash and receive a receipt with a code to top up their wallet, or enter their Bitcoin address into the device and can check the amount of coins added to their balance without leaving the terminal.
Bitcoin machines (bitcoin ATMs) are installed in many countries and cities around the world. Some of them allow you to make a reverse exchange – that is, to get cash for your bitcoins. The Coindesk website has a map that shows all the bitcoin machines installed in the world. Several dozen bitcoin terminals operate in the former Soviet Union. But in Europe, North America, Southeast Asia, and Australia their number is already in the thousands.
You can also buy cryptocurrency at the terminals of several international money transfer systems, the largest of which is ZipZap.
Direct Purchase
In case you want to exchange a large sum of money for cryptocurrency, you will probably want to look into the seller’s honest eyes, ask tricky questions and get some additional information or guarantees. This option is quite possible.
Available in 7,505 cities in 232 countries, Localbitcoins lets you find buyers and sellers in your city and meet them in person. It is also possible to buy bitcoins on applications posted on the website. You need to register, create an ad yourself or choose from the options offered.
In the end, you can arrange a personal meeting with the seller on numerous cryptocurrency forums, including ours. Willingness to buy or sell Bitcoin for cash is the best proof of a seller’s honesty.
If a one-on-one meeting is inconvenient for you for some reason, there are also mass events. Bitcoin enthusiasts hold “Satoshi Squares” open-air events in metropolitan areas around the world. You can search social networking groups and communities, just ask Google – very likely there is such a Satoshi Square in your city too, where you can both learn more and buy cryptocurrency.
Conferences and other events about cryptocurrencies are often held in major cities. Business representatives and public figures speak at them, but there is also a place for informal communication.. Often organizers hold impromptu “auctions” where you can buy cryptocurrency below the exchange rate.