Getting Started with Bitcoins

1. Inform yourself

Bitcoin is different than any currency you’ve used before, so it's very important to understand some key points. Unlike government issued money, that can be inflated at will, the supply of bitcoin is mathematically limited to twenty one million bitcoins, and that can never be changed. Bitcoins are impossible to be counterfeited or inflated. You can use them to send or receive any amount of money, with anyone, anywhere in the world, at very low cost. Bitcoin payments are impossible to be blocked, and bitcoin wallets can’t be frozen. Short of turning off the entire world's internet, and keeping it turned off, the Bitcoin network is unstoppable and uncensorable. While Bitcoin brings unparalleled freedom, it also requires increased user responsibility, but the rewards are well worth your time. Read on to learn how to save 20% on everything from Amazon thanks to Bitcoin. Or you can ask questions from lots of other Bitcoin users in our Bitcoin forum.

2. Choose your wallet

Choosing a wallet is easy, but there are lots of different options. The most important distinction is between bitcoin wallets, where you are in control of your own bitcoins just like your conventional wallet, and wallets that act more like banks, where you have to trust someone else to hold your bitcoins for you. There are advantages and disadvantages to both, but in general, we think it is best for users to hold their bitcoins themselves. You can have as many different bitcoin wallets as you want, but for now, it’s likely easiest to get started with a wallet for your iPhone or android so you will have your bitcoins wherever you go. Choose your wallet here.

 

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3. Get bitcoins

Obtaining bitcoins works just like obtaining any other currency. You can sell something you already have for them. You can ask your existing employer to pay you in bitcoin. You can use a bitcoin based payroll service like Bitwage without your existing employer even needing to know. You can start accepting them as payment at your current business, or the easiest way is to just buy them on one of our trusted bitcoin exchanges.

4.Spend bitcoins

Why would you want to spend bitcoins? How about 20% off everything at Amazon using Purse.io? Or how about 20% off every purchase you make at Starbucks thanks to Foldapp.com? Or you can find a local place near you that already accepts bitcoin at coinmap.org The possibilities are endless, so get started today!