What is a Bitcoin? How Can I Get Bitcoins?
January 17th, 2015 | by Web Desk
Finally, you’ve realized the importance of the money of the future which we call Bitcoin. But the question is, how to get Bitcoins and why? Epagloo has created a guide that will exactly tell you what you need to know about the bitcoin.
If you are looking for the ways to buy bitcoins, you are at the right place. You can buy bitcoins directly from the people who are selling them or through exchange. Payment methods are wide ranging. From hard cash to credit/debit cards, from wire transfers to other cryptocurrencies, bitcoins can be available in your wallet. It only depends on who you are buying bitcoins from and your location.
But keep this in mind that buying bitcoins is still not easy with your debit/credit card or the payment gateway PayPal because such transactions can easily be upturned with a general phone call to the company. Since it’s not easy to prove any goods exchanged in a transfer of bitcoins and there are many private sellers.
In some countries, the options have grown.
First of all, get yourself a wallet:
In order to process, you need to get a Bitcoin wallet. Getting a place to keep the bitcoins you purchase, and to pay with bitcoins, you need to get a virtual wallet or account. ‘Such’ wallets are a part of the “block chain.” Block chain is a shared public ledger which is built to keep records of the transfers (receiving and paying through bitcoins.). It matches the digital signatures of the recipient and the person who transfers to authenticate, it tracks the addresses containing 34 to 36-characters that contain upper and lowercase letters and numerical.
How to Apply:
To apply for a wallet, visit bitcoin.org or you can also visit a third party provider. You can apply by submitting an application for wallet. Wallets are available for both mobile devices and computers with different options such as hardware wallets and web based wallets.
You will need a place to store your new bitcoins. In the bitcoin world they’re called ‘wallets’ but you could also think of them as a bank account.
As discussed, you can choose any of them, software based wallets will be saved on the hard drive of your computer and web based wallets can be accessed online. If your wallet is software based, do not forget to create a backup.
Some of the most popular wallets are listed below.
Web Based Wallet:
Blockchain is considered as one of the most popular web based virtual wallet. It is also available for android and iPhone. You might be thinking that Apple banned the iPhone/iPad users, iOS bitcoin wallets. But, now the decision is reversed.
The hardware wallets are also available. These wallets install a part of the wallet application to a flash drive. To make bitcoin transactions, the hardware wallet should be connected to a computer.
How to Buy:
Some websites also provide directories where you can find the people offering bitcoins to sell. Some of the websites are Bittylicious, LocalBitcoins.com
Accepting Bitcoins As A Payment for The Services You Provide:
You can see a lot of businesses such as WordPress, Reddit, Namecheap etc. accepting bitcoins as payment. To walk on the same path, you can also sign up for merchant account on the website of these service providers CoinBase, BitPay or Coinkite.
What Media24by7’s Says:
Newcomers always think that everything is just so easy as they expect it to be. But this is not always correct and when it comes to buying bitcoins, it is not always easy. We are not telling you that you need to learn some alien technology. There is good news for you, options are increasing with the time, and many sharp minds are inventing convenient methods. So, if you are entering into the world of bitcoins, it is always advisable to ‘understand’ the complete information before proceeding.