All You Need To Know About Bitcoin[Buying, Selling, Making Payments]

You are welcome to my blog. Here at WeUseNaira, we promote anything that will make Naira great again. Feel free to drop a comment at the end of any session. As a beginner in the e-business Sphere, there are lots of ideas in need and Bitcoin is the latest.

 

In this post, you will learn everything about:

  1. Bitcoin Wallet and how to get it
  2. How To Get Bitcoin
  3. How To Use Bitcoin
  4. Latest News From the Market

 

 

  1. How to get a Bitcoin wallet

 

There is no hard job with setting up your first Bitcoin wallet. Before you begin, remember that there are several quality mobiledesktop, and hybrid wallets available.

Experts suggest that great options  would be (1) a mobile wallet like Airbitz (iPhone, Android), Breadwallet (iPhone) or Mycelium (Android), (2) acquire bitcoins from a friend, as payment for a good or service or buy bitcoins from one of the many exchanges (3) if you decide to store large amounts of bitcoins and want to know they are absolutely safe then use Armory. But till now, and in a region like our, acquiring Bitcoin from friends has never been a bad option.

 

Best Mobile Bitcoin Wallets

iPhone and Android apps are available with popular choices including:

Copay

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Copay is a Bitcoin wallet by Bitpay and available on iOS, Android, Windows Phone, Linux, Max OS X, and Windows. Because Copay is available on multiple platforms, it’s easy to use the same wallet or accounts across multiple devices.

Copay’s simple, clean user interface makes it a good choice for new Bitcoin users. Copay is also a good option for businesses due to a shared account feature, which requires a certain number of users to sign each transaction. Two co-founders, for example, could create a 2 of 2 wallet where both will be required to sign each transaction.

Airbitz

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AirBitz is another Bitcoin wallet that’s great for everyday use. It’s integrated with Fold, meaning you can get 20% discounts at Starbucks from within the wallet.

Airbitz manages accounts with usernames and passwords, but doesn’t have access to your funds. This type of account creation is easier for less technical users who may have trouble backing up or understanding HD seeds.

breadwallet

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Breadwallet’s combination of simplicity and security has made it the most popular iOS wallet. iPhone users in search of their first Bitcoin wallet should find Breadwallet easy to understand.

Best Bitcoin Software Wallets

Bitcoin software wallets are downloaded to your computer, give you more control and do not depend on third-party services. Most software bitcoin wallets require a day or so to download the blockchain before they are ready for use.

Armory

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Armory is the most mature, secure and full featured Bitcoin wallet but it can be technologically intimidating for users. Whether you are an individual storing $1,000 or institution storing $1,000,000,000 this is the most secure option available. Users are in complete control all Bitcoin private keys and can setup a secure offline-signing process in Armory.

Bitcoin Core

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Bitcoin Core is the “official” Bitcoin client and wallet, though isn’t used by many due to slow speeds and a lack of features. Bitcoin Core, however, is a full node, meaning it helps verify and transmit other Bitcoin transactions across the network and stores a copy of the entire blockchain. This offers better privacy since Core doesn’t have to rely on data from external servers or other peers on the network. Bitcoin Core routed through Tor is considered one of the best ways to use Bitcoin privately.

Best Hybrid Bitcoin Wallets

Hybrid Bitcoin allow you to both control the private keys and have the easy of use of a web wallet.

Copay

DOWNLOAD

Copay is a Bitcoin wallet by Bitpay and available on iOS, Android, Windows Phone, Linux, Max OS X, and Windows. Because Copay is available on multiple platforms, it’s easy to use the same wallet or accounts across multiple devices.

Copay’s simple, clean user interface makes it a good choice for new Bitcoin users. Copay is also a good option for businesses due to a shared account feature, which requires a certain number of users to sign each transaction. Two co-founders, for example, could create a 2 of 2 wallet where both will be required to sign each transaction.

Best Bitcoin Web Wallets

Bitcoin web wallets are the easiest and most convenient to use but are potentially less secure than the above options because the private keys to your bitcoins are usually held by a third-party.

Due to the large number of security breaches where people have lost bitcoins, we do not recommend any of the current Bitcoin web wallets. A wallet like Copaycan be used on mobile & desktop. It provides the benefits of a software wallet and is easy to use across many devices. Copay also helps you securely share wallets with other people.

Best Bitcoin Hardware Wallets

Bitcoin hardware wallets are the most secure because they do not expose your private keys to the network.

 

  1. How to get Bitcoins

How to buy Bitcoins

With Bitcoin prices increasing every day, many people are so curious about making more money by get more Bitcoin. In this step, we have listed some of the best exchanges. If you want to do your own research then check our guide on how to buy bitcoins in any country. Here are our recommendations:

  1. KrakenBUY

Kraken is one of the world’s largest Bitcoin exchanges. Residents of Europe and the UK can deposit and purchase bitcoins with same day SEPA transfer.

  1. LocalBitcoinsBUY

LocalBitcoins is an escrow service that helps match Bitcoin buyers and sellers.

  1. QuickBTBUY

Buy bitcoins quickly in Canada with Interac Online or debit card.

How To Earn Bitcoins

As  web entrepreneurs, one of the best ways of getting Bitcoin is to integrate bitcoins as a means of payment for either our products or services. Many have also accepted this method of earning bitcoins.

To make it easy, you may want to sign up for a bitcoin merchant account which allows you to send invoices and integrate bitcoin payments into your order pages for the most popular online shopping cart systems.

 

What Is Bitcoin Mining?

Just like the name stands, bitcoin mining involves the use of special hardwares  designed to process double round sha256 hash verifications at high speed. Getting started with Bitcoin mining can be a daunting endeavor and it has become highly specialized so you may want to leave it to professionals with Bitcoin cloud mining services.

Note: You must understand that the use bitcoin mining has some risks for would-be participants. But if you wish to participate, Please see a bitcoin mining guide for more detail.

Nevertheless, If you want to try your luck at bitcoin mining then this Bitcoin miner is probably the best deal.

 

  1. How to use bitcoins?

As a beginner, learning to use bitcoin must be fun. It is a new technology and a cool way of enlarging your financial coast.

 

Bitcoins can be used to purchase just about anything you want. Dental services, a brand new car, travel and even luxury real estate.

We recommend searching the Bitcoin merchant directories below to locate the merchants you are interested in. You can buy gift cards with bitcoin and shop easily at most of the stores you already use.

Bitcoin Merchant Directories

  • Airbitz– Find bitcoin friendly merchants near you and online
  • Open Bazaar– A decentralized marketplace
  • Coinmap– Find bitcoin friendly merchants near you
  • io– Get discounts greater than 20% on Amazon.com

One of the best things to buy with Bitcoin is virtual private network (VPN) services to keep your Internet traffic safe, secure and private. We put together a comprehensive list of VPNs you can buy with Bitcoin.

Promotional Images

Are you a merchant or freelancer that would want to start accepting bitcoins for goods or services? We have a few high resolution graphics that can help you.

So this is exactly the typical sign as you can also find on the Bitcoin Wiki. Just that it is in fully scalable PSD form so even blowing it up to huge printable resolutions will do no harm to them. And you can edit them easily.

All images have transparent corners.

 

Gold Version

A bit more exciting. Same deal: PSD and resolutions available with no copyrights to worry about by using and modifying an existing coin design. Scaling the PSD up more than 500% is fine but after that it may get blurry.

 

Buy Gift Cards With Bitcoins

Available from Gyft and spendable at:

Charity

  • We Use Coins – Donations greatly appreciated: 1CXiG6hZmMWUsr6sgF3Tx5nfKj1FN8dU1c
  • BitGive– a non-profit foundation that is accepting donations from the Bitcoin community and providing charitable gifts to environmental and public health causes worldwide.

Step 4 —> Keeping up to date with Bitcoin news

Michael Casey and Paul Vigna of the Wall Street Journal authored The Age of Cryptocurrency which has become a best seller on the topic of Bitcoin. This may be a great book for you to start with when forming an intellectual foundation on this new technology.

I hope this article helped. We did not forget to attach links to source pages. Share if you loved it. thanks in advance.

 

Valentine
Connect @

Valentine

Founder at WeUseNaira Blog
Val is a passionate blogger, digital marketer and a pro web developer. He's a tech enthusiast, lover of craft and Freelance coach +2348066538123
Valentine
Connect @

About the author

Valentine

Val is a passionate blogger, digital marketer and a pro web developer. He's a tech enthusiast, lover of craft and Freelance coach +2348066538123

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