Bitcoin is now accepted by more and more merchants worldwide. It is becoming an accepted form of currency to pay for international services. Here, we explain how you can purchase Bitcoins and how to use them to make payments.
The following are required for this:
Access to a computer/tablet/mobile device
Bitcoin address and online wallet
Money to exchange for Bitcoins
Bitcoins and their Work
Bitcoin: Cryptocurrency that isn’t backed by any central bank.
Online payment method ( maintains privacy and anonymity).
Exists independently, the exchange process is P2P (peer-to-peer) that doesn’t need banking authority to act as a middleman.
Payment and money exchanges are recorded.
No.1 anonymous digital currency in terms of both the number of users and the total value of the currency.
Aren’t legal everywhere. They are outlawed in China, Russia, Sweden, Thailand.
People of these countries can buy Bitcoins using a VPN.
Set-up an Address
The Bitcoin address is equivalent to bank account number in layman terms.
Every Bitcoin user has their own unique address, composed of long and complex series of characters and numbers.
Users can have many addresses and store them inside a digital Bitcoin wallet.
E.g. “Easy-Wallet”, “BlockChain”.
The registration process will generate a URL that points to your wallet.
Visit a site that trades Bitcoins.
Most websites that buy and sell Bitcoins provide registration tools to help you get a wallet.
Many payment methods are at hand to exchange physical currency for Bitcoins, including PayPal, bank cards, credit cards, debit cards and so on.
Few website exchange-wide varieties of digital currency.
Paying with Bitcoins
Now you have purchased Bitcoins (inside digital wallet).
It’s time to purchase items.
A lot of websites don’t accept Bitcoins.
Best for digital services.
VPNs, cloud storage, software and other digital services don’t require much personal information while signing up for an account.
Little Bitcoin symbol can be found under websites payment options section(Bitcoins if accepted )
Buy Bitcoins – Alternative Methods (mine your own Bitcoins)
Rent hardware in the cloud or purchase advanced graphics cards with high powered CPUs.
Choose lease computing resources online (24*7)
Use personal computer’s CPU or GPU (massive impact on system performance)
Do you want to learn about Bitcoins and how to use them for international transactions? We have compiled a list of Bitcoin Resources – videos, books and popular Bitcoin wallets and also a list of famous Bitcoin personalities. We are sure you’ll find them helpful, so read on and post your comments and feedback.
Top 5 Bitcoin Books for Beginners
Bitcoins may be revolutionizing the way we understand money, but it hasn’t made everything obsolete – like books. Books remain a powerful resource for storing and transferring knowledge to the masses. Whether you prefer to consume them on crisp paper pages or through the soft glow of a tablet, we hope you’ll find time to flip through these Bitcoin Books:
Documentary: The Bitcoin Gospel (VPRO Backlight) – Watch
Wired Money 2015 – Andreas M Antonopoulos – Bitcoin is the real disruptor – Watch
Online Bitcoin Wallets – Top 5 Updated Regularly
Here’s a list of online Bitcoin Wallets – This list is updated regularly.
Safe storage of Bitcoins has always been a point of contention in the Bitcoin industry. With the number of thefts and attacks increasing rapidly, it seems only sensible to protect them via the best Bitcoin wallets. This page lists all the best bitcoin wallet through the years.
Please be aware that the bitcoin space is very new, and many services will come and go. As the saying goes, “never put all your eggs in the same basket” and online wallets are no different.
Bitcoin enthusiasts are advised to take a thorough look at the detailed specifications of the available wallets. Use the website links submitted below to learn about each wallet before making a decision.
People always search for opportunity to a better life. New fields and industries gives a chance to entrepreneurs and general public to make that happen. Bitcoin was seen as an opportunity by some visionary people when it was still in its infancy. It was risky at the time, like any other new technology. But these people took a chance and their reward was beyond their highest expectation. Here are the top 5 bitcoin millionaires.
The Winklevoss Twins
That’s a start! If you read any of these books or watch the listed videos, please let us know what you think. If you have used any Bitcoin wallets, or have any other video/book which could be interesting to Bitcoin enthusiasts, we would like to hear from you!