₦airaland Forum

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

ITbomb:
Before you continue, how do you convert these earned bit coins to cash in your local bank account.

bayuba2002:
How do you buy ?
How do you pay someone with it ?

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.......

codedmax:
Hit like if you gut a Bitcoin wallet now........

codedmax:
Hit like if you gut a Bitcoin wallet now........

bayuba2002:
How do you buy ?
How do you pay someone with it ?

https://www.nairaland.com/3591844/learn-ways-earn-bitcoin-money