A handy guide to Bitcoin world
- It’s anonymous. Any payment can be completed from multiple accounts, a single wallet can have as many as you want receiving address and a different one for sending funds. Account verification/validation might be mandatory for Bitcoin Exchanges, places where you can buy the coins, but you don’t need to do this for your personal wallet or wallets.
- It requires significantly less time for payment confirmation. We might need 1-2 days to process and confirm your Western Union and MoneyGram payments and 10-20 minutes for the Bitcoin ones. Faster your payment will be confirmed, faster we will ship your order and faster it will be delivered!
- Bitcoin is not backed by any single bank or country. It’s decentralized. There is no authority to block a bitcoin transaction. And there are no reasons to do so. You already know it, Western Union and MoneyGram transactions could be blocked sometimes for a reason that might be from a good one to the most stupid one. A blocked transaction will require your time and additional costs to resend us the payment.
- 365 days a year and 24 hours a day – Bitcoin payments are always available. Just make sure that your Internet connection is up and running. It’s like PayPal, credit/debit cards or any other online payment method you are used to, but with a much higher level of anonymity.
- Shop and save 10%. Choose Bitcoin at checkout and that’s it. No promo code required.
The fastest way to get bitcoins is to find a Bitcoin Exchange or a Bitcoin ATM. Just take a look at the links bellow:
DISCLAIMER: Frequently, Bitcoin ATM fees and buying exchange rate are highest on the market! Please always double check the amount of bitcoins you will receive for your fiat money and compare it with an official and actual rate exchange like Preev.com. If the amount of coins is significantly lower than the expected one please do not proceed with payment and try a different method of buying Bitcoin.
IMPORTANT NOTICE: If you favorite Exchange is offering a wallet, please make sure to stay away from keeping your funds in that wallet or making any payments from that wallet. You should always have a personal 2nd wallet like Breadwallet, Greenaddress, Mycelium (mobile devices) Electrum (desktop). Any funds deposited in the wallet that your Exchange offered should be moved immediately to your second wallet.
Below is a video tutorial prepared by LocalBitcoins.com. Other exchanges will provide you a similar experience, meanwhile at LocalBitcoins you can buy bitcoins with cash, bank transfers, PayPal and other various payment methods.
Bitcoin uses payment addresses for sending and receiving funds. At this point it’s really similar to PayPal, which uses an email address. A Bitcoin address looks like this:
ATTENTION: The Bitcoin address above is not valid. Please don't use it for any payments.
You don’t have to remember it or keep it safe, you can have an unlimited number of payments addresses for your wallet. Try to follow a simple rule: one payment, one address. Every time when you’ll hit the Receive button in your wallet, a new receiving address will be generated, or you’ll find there an option to generate them manually. The screenshots bellow will make the things easier.
This is how it looks a Bitcoin desktop client. Hit the Send/Request button before starting a transaction.
The Request payment section will generate a receiving address for you. Copy it to clipboard and use it when you want to get your bitcoins. E.g. when you are transferring your funds from a Bitcoin exchange.
For sending money just use the Send payment option. Insert the receiving address where you want to transfer the bitcoins hit the next button and you are done. As simple as that!
NOTE: Online wallets or mobile applications might ask for your wallet password or two-factor authorization code if you are trying to send some bitcoins. If you have your Google Authenticator app enabled, just open it on your smartphone and insert the provided code. Else you can receive this code by SMS, Email, Phone call – it depends on your wallet’s settings.
QR codes are here to simplify Bitcoin transactions. It’s extremely convenient if you are using a wallet on your mobile phone. Just open your wallet and scan that image in order to complete a payment. Else you can scan that image with a simple QR-scanner on your smartphone and you will be able to read the payment address and the BTC amount if it is specified, save it or send it to somebody else.
Some desktop clients have the option to insert a QR-code when you are sending some funds. Just save the QR code image and insert. The Bitcoin client will read it and add the address automatically.
Furthermore, you’ll find in your wallet a Show/Generate QR code for a payment address. Save that image and use it at your convenience when you need to receive some bitcoins.
Long story short – all Bitcoin wallets provide a similar user’s experience. There is a SEND button to make payments and a RECEIVE one to get them. You’ll need a payment address and an amount to be transferred. An exchange is a good place to get some coins. The fees are ridiculous low and Bitcoin has a higher anonymity level than other online payment methods. It’s somewhere near to cash payments.
You should always consider to check the Bitcoin official rates, though Exchanges usually have their own rate.