You want to start using Bitcoin, but don’t know where to start? If so, here are the four steps to start using Bitcoin.
Therefore, you have heard that everyone is using Bitcoin, and you want to know how to master this cryptocurrency and use it. Well, Bitcoin is an innovative, modern decentralized virtual currency. It functions like legal tender or gold. You can only transmit this encrypted currency over the Internet, which means that you can receive or send bitcoins from anywhere in the world just like sending emails.
In essence, Bitcoin allows you to send money from person to person. This eliminates the involvement of third parties or intermediaries. In short, Bitcoin transactions eliminate waiting time and expensive transaction fees. But how do you get and use Bitcoin? This is a guide.
1. Create a Bitcoin wallet account
Bitcoin wallets provide storage for this cryptocurrency. It also allows you to send or receive bitcoins. It is easy to create a Bitcoin wallet account. All you need to do is choose the digital wallet you want to own.
Using this cryptocurrency, you can obtain public and private keys stored in your wallet. In short, the public wallet key is like an email address, and the private key is its password. Therefore, you should protect the private key to ensure the security of Bitcoin. This means you will not show your private wallet key to anyone.
Online wallets are ideal for buying small amounts of Bitcoin. You can create this account automatically by opening an account on the Bitcoin exchange.For example, you can visit Bitcoin Pro Official website to create your account. After this is done, you can buy and sell bitcoins on the platform before sending them to your wallet.
Don’t keep large amounts of Bitcoin in cryptocurrency exchanges. This is because security is not a priority for most Bitcoin exchanges. Instead, use hardware wallets to store large amounts of Bitcoin. Hardware wallets are more secure and easy to use.
Assuming you choose software wallet or online wallet, please back up your private key. But this is not necessary for hardware wallets, because it can protect private keys.
2. Get Bitcoin
When acquiring Bitcoin, you have three options. One of the simplest and most common methods is to buy Bitcoin through a cryptocurrency exchange. The second option is to sell services or products and get paid in Bitcoin. The third option is to mine through Bitcoin. With Bitcoin mining, you can purchase powerful computers and software to verify encrypted transactions and earn coins as a reward. However, the mining of Bitcoin requires resources and a wealth of knowledge.
Among the three options, earning bitcoin from service and product sales and buying coins through cryptocurrency exchanges are the best options. Nevertheless, if you choose a trusted cryptocurrency exchange to avoid losing money, it will help. Always remember that not everyone claims that it is true that they sell Bitcoin online.
3. Protect your Bitcoin
In order to protect your Bitcoin, please make sure that you control the use of all private keys. This is the only way to protect your encrypted wallet. After buying Bitcoin through an exchange, the funds will remain in the platform. This is risky because cryptocurrency exchanges control and store your bitcoins.
This is beyond the purpose, because Bitcoin should allow you to protect and control your money. Crypto exchanges can block or restrict your account. To make matters worse, if the cryptocurrency exchange goes bankrupt, you may lose money.
Therefore, transfer your bitcoins from the exchange to the bitcoin wallet. In this way, you can use this cryptocurrency to easily send coins to others or pay for goods and services.
4. Use your Bitcoin
Receiving bitcoins needs to share a public address with the sender. The address is a code with numbers and letters. The private key also contains numbers and letters. Sending bitcoin involves entering the recipient’s address or scanning their QR code and selecting the amount to send. After that, confirm the transaction and send funds.
With this information, you can start using Bitcoin. However, please be careful to keep the private key safe and never share it with anyone.