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Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online - Business - Nairaland

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Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by codedmax(m): 10:02am On Apr 13, 2015
Hello, The Word "BITCOIN" maybe be new to some of us and a few other's are knowledgeable of it!

You may ask what is BITCOIN? (BTC)

Bitcoin is a form of digital currency, created and
held electronically. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, it was created by an unknown person using the alias "Satoshi Nakamoto" who released it as open-source software in 2009.

The system is peer-to-peer; So users can transact directly without needing an intermediary.
I.e Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name.

Transactions are verified by network nodes and
recorded in a public distributed ledger called the
block chain.

Bitcoin as a form of payment for products and services has grown tremendously world wide and merchants have an incentive to accept it.

Do you know that one 1Bitcoin = $254.344 (Us Dollars)

Yes........you heared me correctly!!!!!


In the next update, I will show you how to get started on Bitcoin

.......To be cont

Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by ITbomb(m): 10:37am On Apr 13, 2015
Before you continue, how do you convert these earned bit coins to cash in your local bank account.
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by codedmax(m): 10:59am On Apr 13, 2015
ITbomb:
Before you continue, how do you convert these earned bit coins to cash in your local bank account.

Very easy, via exchangers

there are e-currency exchangers right here on Nairaland that you can sell your Bitcoin to and get the cash to you bank account in no time

Truexgold is one of them
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by davoe0007: 4:56pm On Apr 13, 2015
How does one get started
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by codedmax(m): 9:47pm On Apr 13, 2015
Alright who's ready to go on.......
Your comments would be appreciated
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by PLANETOFBETS1: 12:50am On Apr 14, 2015
carry go my g from football betting thread wink
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by Empowerment(m): 12:57am On Apr 14, 2015
Carry on Bro.... Awaiting u seriously.
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by bayuba2002: 2:00am On Apr 14, 2015
How do you buy ?
How do you pay someone with it ?
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by codedmax(m): 9:00am On Apr 14, 2015
bayuba2002:
How do you buy ?
How do you pay someone with it ?

There are channels that allow you to buy Bitcoin one of them is using e-currency exchangers, I dropped one of them a while ago here on NL, you can also buy Bitcoin with PayPal, your debit master/visa card from another exchanger which I would talk about subsequently...........

For the other question;
You can easily pay some one or a merchant that accepts Bitcoin by sending Bitcoin to their Bitcoin wallet using their bitcoin address which they provide to you.

You will understand this better after I drop the next update!
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by codedmax(m): 9:39am On Apr 14, 2015
To get started on Bitcoin you need a Bitcoin wallet and a Bitcoin address.

Bitcoin Wallet

1. A Bitcoin wallet is an account or vault which holds & store Bitcoins. Bitcoins are sent between wallets, each is represented by one or more addresses.

Bitcoin transactions are done instantly and securely over the Internet from your Bitcoin wallet and have almost 0% Processing fees.

So now how can one get a Bitcoin wallet?

You can get a free Bitcoin Wallet form;

blockchain.info
or
coinbase.com

(There are other Bitcoin wallet providers but this two in my opinion are just okay, efficient & very secured).

So visit any of the above site, it takes just a few minutes to sign up & get a Bitcoin account/wallet for free.

(Note: When signing up with blockchain.info you get to a page were your "Wallet Recovery Mnemonic" is displayed to you pls saving this page or take a screen shot of this page with your phone better still you can write it down some were safe. You will need this is recovering back you bitcoin account in case of forgotten password)

For android users there are Bitcoin wallet apps you can download on Google play store to send & receive bitcoins, manage and easily access you account bitcoin easily.

Search & download

* Bitcoin wallet or if you have a Coinbase Bitcoin account download Bitcoin Wallet - Coinbase

* There is also an app called "Mycelium Bitcoin Wallet" in Google play store for android users that gives you an instant Bitcoin Wallet/Account.
Just download install and you are good to go.

Now Let's proceed;

Bitcoin Address

A Bitcoin address is a public identifier for sending money to that wallet, just like an email address directs email to your account or a bank account number direct funds to your bank account.

You will need a Bitcoin address to send & receive Bitcoin

A Bitcoin address looks like this:

1LF7MLgPVVTfa9ySp5uUUW7y4TGpNcny6

After you have signed up with any of the Bitcoin wallet sites; (blockchain.info or coinbase.com)

You will be provided with your own Bitcoin address, which is unique to you only. Some times you are provided with a barcode dnt be confused just save and scan

Next Update will be a brief description on Bitcoin wallet Usage.......
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by codedmax(m): 11:02am On Apr 15, 2015
Hit like if you gut a Bitcoin wallet now........

4 Likes

Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by Riar: 4:57pm On Jun 05, 2015
codedmax:
Hit like if you gut a Bitcoin wallet now........

codedmax......ave gotten d bitcoin wallet now...
how can I earn with it
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by Riar: 5:02pm On Jun 05, 2015
codedmax:
Hit like if you gut a Bitcoin wallet now........

have gotten d wallet and d address....I have also tried using Bitcoin Faucet site but it seems it's not enough to earn bitcoin......pls ow can I earn bitcoin........ m so tired of d faucet sites
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by jb64: 7:28pm On Jun 05, 2015
u cant get enough bitcoin thru faucets. u cn probably buy n sell or market a service online, but faucets wont get u enough
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by ubaojeh(m): 9:09pm On Jun 05, 2015
well i posted about this same offer some months ago and persons that knew about this great currency took the advantage. but the real truth is that u need to be educated before giving you the link the harm z total ban if found spamming the network meaning forcing people over the social network to join you or creating more than a single account. to cut the whole story short the website that give you free bitcoin and other 16coins including lithcoin , vitacoin etc daily is currently unaccessible but to get the link soon they open it get in touch timothyojeh1@gmail.com or whatsapp 07031351481 thanks
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by MICHEAL346(m): 10:59am On Jan 27, 2017
Re: Bitcoin 101: Introduction To The World Of Bitcoin & How To Earn Bitcoin Online by codedmax(m): 7:17pm On May 30, 2019
4 years down the line
1 BTC is $8,637

1 Like

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