Getting Started Mining Bitcoins

start mining bitcoins

Using Bitcoin to pay and get paid is easy and accessible to everyone.

Paying and getting paid is so much easier using Bitcoins since it is convenient and readily accessible to everyone.

Steps in Using Bitcoin

  • 1. Educating yourself first. Not everyone is familiar with Bitcoin as well as it is not commonly used every day so it is far from what you have perceived. There are important things you need to go over beforehand to safely use it and prevent having mistakes in using Bitcoin.

  • 2. Have a wallet. Since a Bitcoin wallet is needed, you can have it with your mobile for everyday use or you can just use your computer for your online transactions such as payments. Either way, wallet choosing can be done in just a swift!

  • 3. Start acquiring Bitcoins. You can gain Bitcoins simply through payments from goods and services purchased, buying from someone who has one or if you have your bank account, have it from an exchange.

  • 4. Now you are ready to use your Bitcoins. An increasing number of merchants and services are already available that accepts Bitcoins as payments around the globe. Upon doing this,, it is good to leave a rate or comments to these business so as to help not only them but also the customers in having a reliable and trustworthy service.

How to accept Bitcoin

In accepting Bitcoin, you just have to bear in mind some few things to safely use it as well as prevent common pitfalls. In processing payments, you can do invoices and payments personally or using merchant services by depositing money in the local currency or in Bitcoins. Most business use a cellphones or a tablet for their customers to pay with their own cellphones.

The prices that merchants usually deposit and display is in the local currency. There are instances however that Bitcoins functions just like a foreign currency. A qualified accountant can be hired to know appropriate information about tax compliance in your designated district.

Since there is an increasing number of Bitcoin users and of course, looking for ways to spend it, it is wise for businesses to submit details in online directories for them to found easily. A logo can also be used to display in your own website.

Getting Started with Bitcoin

Bitcoin has been increasingly popular nowadays. Although there are a lot of uncertainties as well as controversies about cryptocurrency, this didn’t prevent more than a thousand businesses globally to use Bitcoin for payments - perfect exampls is Newegg. It also didn’t hinder a ton of people in arising markets from having Bitcoins take over their country’s currency.

While writing,one Bitcoin is already valued at $222.93. Though it’s still far from a thousand, given that it has been trading almost a year now, there’s a big chance for it to rise more in value. And right now is the perfect time to hoard since it’s still at a low-priced value.

Despite wanting to acquire Bitcoins by using a miner digging for it the whole day, I know a much easier means to have it at this perfect time before it’s become too late.

But before everything else, I’ll share these information that you need to know:

Facts about Bitcoin

  • 1. The safety and security of your Bitcoin wallet is very important, just like having a real wallet.

  • 2. The price of Bitcoin is volatile

  • 3. Payments using Bitcoin can be reversed

  • 4. There’s no anonymous with Bitcoin

  • 5. Quick transactions are never secure

  • 6. It’s not proven and tested yet

  • 7. There’s a tax and certain policies on Bitcoin for some governments

Education is vital before you engage yourself with Bitcoins. Or else you will be caught with surprises along the way. But if you have confidently understood the risk that comes with it, you’ll feel comfortable when you start using it already.

Bitcoin for Starters

Step 1: Bitcoin Wallet Choosing

Getting Started with Bitcoin

Having a Bitcoin wallet signals that you can already start acquiring Bitcoins anytime you want. But there are certain things you should remember before taking on board in the cryptocurrency world by the time you make an account with top website you found upon searching in Google.

Since there are several forms of wallets available for desktop, web, mobile and hardware that also comes with different features, it is really important to take time in studying and researching, to be able to find the perfect one for you. By the time you have determined your best choice, it will on take some minutes to set up your wallet.

Coinbase, Blockchain and ChangeTip are the top three famous Bitcoin wallets.

Step 2: Put Some Bitcoin in Your Wallet

Getting Started with Bitcoin

If you’re done creating your wallet, it’s a perfect time to start purchasing some Bitcoin. There a lot of ways to do it just like in creating a wallet.

Various Ways to Acquire Bitcoin

  • 1. From payments of buying goods as well as services

  • 2. Receiving from friends or from anyone near you

  • 3. Purchasing it from an exchange

Buying Bitcoin from an exchange is the considered the safest way buy you need to see to it that the website is secured enough for such transaction. Know also the identity of the person involved in transferring your funds for future necessities like cases where in there’s a need to undergo some legal action. This is very necessary when it comes to dealing with money.

Stick to acquiring Bitcoins from a legit exchange and avoid having it someone you’re not secured or a third party.Bitcoin services are surely not regulated so there are exchange operators that exist t despite being unsescured. It’s totally risky but really safe if you know the things that you are dealing with.

Coinbase, Bitfinex and Cryptsy are the top three famous Bitcoin exchanges.

Step 3: Start Using Bitcoin

Getting Started with Bitcoin

We may have known people who got rich because of Bitcoin but it’s not that simple as you think it is. Unless you have the capabilities and resources to take it like in the stock market, it’s difficult to think Bitcoin as a form of investment. The profitability will never be guaranteed that’s why you have to be careful in choosing where to put your money.

Several people uses Bitcoin because they think it’s a very good choice of a digital payment. But since a lot of merchants are arising nowadays, we may feel safe to use Bitcoin with anyone who is willing to accept it. No laws exist on ways that merchants should accept Bitcoin so you acquire it only from stores that uses a trusted and reliable gateway for payment.

BitPay is known to be the most secured option for payment today. Newegg as well as other business and organizations more than 50,000 in number around the world relies on it.

BitPay is even good enough for companies such as Microsoft, Wordpress and other countless companies in the business we deal with, how much for us.

BitPay guarantees any store who uses it for Bitcoin transaction to be safe and secure. But since there are still a number of available payment gateway out there, remember to use something that is legit. If you’re not so sure, then better do some background check.

Aside from Bitpay, gocoin and WooCommerce Bitcoin Payments are the top three famous gateway for Bitcoin payments.

Step 4: Spend it Wisely

Getting Started with Bitcoin

If you are able to honor the guidelines mentioned above, there’s should be no problems in dealing with Bitcoin. All you have to remember is to see to it that all the company, merchants, people you deal with along the way are legitimate to minimize or avoid certain risk. Bitcoin is actually enjoyable if you are already comfortable and confident with it.

Another prominent and tremendously good way to spend Bitcoin is by using ChangeTip. It made tipping people for their service rendered, a simple way and can make fund transfer to any person anytime and anywhere they are. And it’s definitely a free service to use.

People are still trying to study the know-how of Bitcoin technology since it’s still in the early stage. But a tech enthusiasts can easily understand the works of it. May this simple quick guide help you to start using Bitcoins!

Getting Started

Educate yourself. Using Bitcoin can be confusing at first since it differs from any other currency you may have used before. That is why it is very vital to know important key points. Not like the money issued by the government that undergoes inflation at will, Bitcoin’s supply limits only to 21,000,000 Bitcoins which will never change.

Counterfeiting or inflation can never happened in Bitcoins. It can be used for money sending and receiving with anyone and anywhere across the globe for a very cheap price. Bitcoin is everywhere. It can’t be blocked and you cannot freeze Bitcoin wallets as well. In short, Bitcoin network can never be stopped and it is uncensorable even if you turn off the all the internet around the world.

Using Bitcoin need users to be more responsible , aside from it delivers unparalleled freedom, the results will all be worth it as well. You can have a 20% savings on everything in Amazon because of Bitcoin. Try to know more about this or you can ask questions to Bitcoin users in the forum.

The Need To Have a Wallet. Although there are several various options, deciding for a wallet is just simple. What is essential is to know is your self control ability when it comes to keeping your Bitcoins just like a real cash in your wallet or the need the help for someone else to hold it instead.

Both ways have positive and negative impacts but generally we opted for users to hold it personally. You can own as much Bitcoin wallets as you can but it would be good to start with having a wallet for your Android or iPhone devices so it is readily available everywhere you are. Wallets can be chosen here.

Start Acquiring Bitcoins. Acquiring Bitcoins just like having any other currency works by selling something that you own for them. You can be paid by your current employer with Bitcoin upon their permission. A payroll service which is Bitcoin based, like Bitwage can be readily used without having to inform your employer.

It can also be used as a medium for payment with your business. But above all, you can easily have Bitcoins through buying from any legit Bitcoin exchanges.

Perks of Using Bitcoins. Who doesn’t want to spend Bitcoins? A 20% discount is available for everything at Amazon through Purse.io and also a 20% off in every Starbucks transaction through WeUseCoins.com will also guide you to look for a near local place that accepts Bitcoin. There are endless possibilities for Bitcoin so better start now!

Written on 10 Dec 2010.