You might have come across the terms such as cryptocurrency, cryptocoin charts, and various other jargons related to the Bitcoin arena and kept wondering what this buzz is all about.
Well, the buzz is that however controversial as it may sound, it is still gaining a lot of popularity with many businesses trading in Bitcoin.
So, let’s get started to help you with all the necessary steps in order to prepare your mind to be replete with Bitcoin knowledge.
Step 1: What you need to know about Bitcoin?
Even though Bitcoin has been around for a good 8-9 years, there are still some areas that you might want to avoid or be informed about to use it with utmost care and maximum security.
The pricing of Bitcoin is unstable. Note that Bitcoin payments cannot be reversed. Payments need to be checked more than once before they become irreversible. You need to pay more attention to the security of your Bitcoin Wallet. Not all the countries are allowed to use Bitcoin freely; some do have a few regulations.
Apart from these “to avoid” things about Bitcoin, you also might want to know that Bitcoin cannot be forged or inflated.
You get the full control of your payments and don’t need third-party agents to do it for you.
Once you are ready with all the information that you need about Bitcoin, you would be able to deal with Bitcoin in a much risk-free manner.
Step 2: Getting started by getting a Bitcoin Wallet
This step is pretty simple. A Bitcoin Wallet lets you purchase the Bitcoin as soon as possible. With all the possible types of Bitcoin wallets available out there in the form of Web, desktop, mobile, etc., it might get a bit perplexing to find the best one suitable for you through the popular search results on the Internet.
But once you select it, you are absolutely good to go in almost no time. Just, for example, Copay, Coin base, etc. are a few good examples of Bitcoin Wallets.
Step 3: Buying Bitcoin
Once your Bitcoin wallet is all set, you may now proceed with actually purchasing/obtaining some Bitcoin yourself.
How to obtain it – Well simply, either by purchasing it directly from some exchange (most secure though) or accepting it from one of your friends or family or somebody trustworthy you know, or even by accepting it as a payment in return for your products and services.
Points to note: Never buy Bitcoin from someone you don’t know. Do your homework properly. Again, for example, coin base is one of the best Bitcoin Exchanges.
Step 4: Actually, start using it
You should have absolutely no problems in using Bitcoin as a mode of payment with anyone you know, provided you follow a few guidelines like knowing the person you are transacting within Bitcoin or learning the crypto-coin charts, to make it a safer and secured journey for you.
Step 5: Staying updated and informed with Bitcoin News
Since Bitcoin is absolutely volatile and keeps changing always, staying well informed will help you take better decisions as regards all your payments in Bitcoin.