Bitcoin Information – Getting Started With Bitcoin

Written by on January 2, 2017 in Bitcoin Information, Featured

 

So you’re ready to get started making money with Bitcoin.  There are a couple of ways to go, but only one place to start.

Bitcoin was started in 2009 by Satoshi Nakamoto. Bitcoin is a decentralized cryptocurrency. This means that it is not controlled by a central government or any governing body. Bitcoin is open source and all transactions are stored and registered on the blockchain which is open to the public to see. Blockchain is the open ledger of every single Bitcoin transaction going all the way back to the first.

The first use of Bitcoin as a payment method happened when some hungry guy offered members of a Bitcoin chat room 10,000 bitcoins to send him a pizza. That put the first value of Bitcoin at $25.00 USD for 10,000 bitcoins.  In today’s market, that would be one very expensive pizza!  BTW, he got the pizza…lol

If you are looking to buy bitcoins, make bitcoins, earn bitcoins or win bitcoins you will need a place to store them. This is called a Bitcoin Wallet. Think of it the same way you think of your regular bank account, but a lot safer and without all the ridiculous fee’s.

 

There are 4 basic types of Bitcoin Wallets:

 

  1. Desktop Wallet
  2. Mobile Wallet
  3. Online Wallet
  4. Hardware Wallet

 

We will go into further details on all of these in a later post.

After getting your wallet set up you will need to fund that wallet with Bitcoin. Again there are several options for where to get Bitcoin.

 

  1. Buy Bitcoin
  2. Make Bitcoin
  3. Earn Bitcoin
  4. Win Bitcoins

 

More details on all these methods soon to follow.

Ok so you’ve got your Bitcoin Wallet all set up. You acquired Bitcoin and had them transferred to your wallet.  Now what???

Once you’ve got your Bitcoin there are a couple of things you can do from here.

 

  1. Save Bitcoin and wait until it is trading so high that you can get out of the market and retire.
  2. You can Trade Bitcoin like people do with stocks. Buy low and sell high type of thing.
  3. Put your Bitcoin to work  so you can increase the amount of Bitcoin you have.
  4. Buy things with Bitcoin
  5. Play with Bitcoin. Online Casinos and Gambling sites

 

At the end of 2016 Bitcoin was valued around $950 USD.  In 2017 many experts believe Bitcoin could trade as high as $3000 USD.  Regardless of how you plan to acquire your Bitcoin, 2017 should be a very exciting year and will see exponential growth of the value, reach, acceptance and use of Bitcoin.

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