How to get started with Bitcoins

I'm new to bitcoins... How do I get started? Some of us only heard of the word bitcoin, but does not quite understand what it is, where and how to get bitcoins.

So what is bitcoin and how do I get it?.. To put it in the simplest way possible, bitcoin is an online alternative currency system, which acts as a form of digital money, investment, and as a method of payment for goods and services. It does not need the involvement of a third party.

Bitcoin is great if you need to send money overseas or want to buy something online. There are hundreds of thousands of merchants that accept bitcoin around the world, and because the fees are so low, you can often get great discounts when you choose to pay with bitcoin instead of your credit card.

In order for you to get bitcoins and spend it, you need to do certain things first. I will break it down for you in the following few simple steps.

Step 1. - Get A Wallet To Store Your Bitcoins

In order to take part in all these transactions online you need to have a bitcoin storage. To buy bitcoins you first need a wallet. The process is relatively easy. All it takes is a few steps and you will have bitcoins to trade with. The easiest way is to create a wallet through an online third party site like Xapo.com or BlockChain.info which will store your bitcoin securely on the cloud.

Xapo.com: Interested in getting started with Bitcoin? Make a smooth transition from fiat to digital money! Xapo provides the tools you need to purchase bitcoins, then manage them through our easy-to-use online wallet, spend them with a swipe of the Xapo Debit Card, or store them in Xapo's free, ultra-secure Vault. SIGN UP

BlockChain.info: With Blockchain.info, you are the only one who has access to your bitcoins. Your wallet can never be seized or blocked.Loved by Users. Praised by Geeks. Recognized by the Press. We make using Bitcoin safe, simple, and fun. You can instantly transact with anyone in the world. SIGN UP

Step 2. - Get An Exchange Service to Buy Your Bitcoins

The next step is to get an exchange service: its very easy to get your bitcoins through an exchange service. All you need to do is register and convert your currency into bitcoins. There are a few exchanges available and the best exchange option depends on where you are located, but one of the more well known exchange service you can get is LocalBitcoin.com.

LocalBitcoin.com: At LocalBitcoins.com, people from different countries can exchange their local currency to bitcoins. The site allows users to post advertisements where they state exchange rate and payment methods for buying or selling bitcoins. You reply to these advertisements and agree to meet the person to buy bitcoins with cash, or trade directly with online banking. Bitcoins are placed in LocalBitcoins.com web wallet from where you can pay your bitcoin purchases directly. SIGN UP

Step 3. - Consider cloud mining with your BTC

Now that you have bitcoins in your wallet you can consider to invest some of it in cloud mining. Cloud mining or hashing enables you to purchase mining capacity that of hardware in data centres. Now you don't have to deal with any of the hassles usually encountered when mining bitcoins such as electricity, hosting issues, heat, installation or maintenance problems. Click Here for cloud mining options. Happy mining. I hope this short article was helpful.

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