The best way to learn about bitcoin, is to jump in and get a few in your “pocket” to obtain a feel for how they work.

Despite the hype about how difficult and dangerous it might be, getting bitcoins is a lot easier and safer than you may think. In plenty of ways, it really is probably easier than opening a merchant account at a traditional bank. And, given what has been happening in the bank operating system, it is probably safer too.

There are a few things to learn: getting and utilizing a software wallet, learning how exactly to receive and send money, learning how to buy bitcoin from the person or an exchange.

Preparation

Before getting started, you will have to get yourself a wallet. You are able to do this easily enough by registering with among the exchanges which will host wallet for you personally. And, although I think you are likely to want to have one or more exchange wallets eventually, you should start with one on your own computer both to obtain a better feel for bitcoin and as the exchanges are still experimental themselves. When we reach that stage of the discussion, I am advising that you get in the habit of moving your money and coins off the exchanges or diversifying across exchanges to help keep your money safe.

What is a wallet?

It is a way to store your bitcoins. Specifically, it is software that has been made to store bitcoin. It usually is run on your pc, laptop, mobile device (except, as yet, Apple) and can also be produced to store bitcoins on things such as thumb drives. For anyone who is concerned about being hacked, then that is a great option. Even the Winklevoss* twins, who’ve millions invested in bitcoin, put their investment on hard disks which they then put into a safety deposit box.

*The Winklevoss twins are the ones who originally had the theory for a social media site that became Facebook. They hired Mark Zuckerberg who took their idea as his own and became immensely rich.

What do you need to know about having a bitcoin wallet on your pc?

Below you can download the initial bitcoin wallet, or client, in Windows or Mac format. These are not just wallets, but are in fact portion of the bitcoin network. They will receive, store, and send your bitcoins. You can create a number of addresses with a click (an address is a number that appears like this: 1LyFcQatbg4BvT9gGTz6VdqqHKpPn5QBuk). You will notice a field where you could copy and paste a number like this from a person you wish to send money to and off it’ll go directly into that person’s wallet. You can even create a QR code which will let someone take a picture with an app on the phone and send you some bitcoin. It is perfectly safe to provide these out – the address and QR code are both for my donations page. Feel absolve to donate!

NOTE: This type of wallet acts both as a wallet for you personally and as area of the bitcoin system. The reason bitcoin works is that every transaction is broadcast and recorded as a number over the entire system (meaning that every transaction is confirmed and made irreversible by the network itself). Any computer with the right software can be section of that system, checking and supporting the network. This wallet serves as your personal wallet and in addition as a support for that system. Therefore, remember that it will take up 8-9 gigabytes of one’s computer’s memory. Once you install the wallet, it will require as much as each day for the wallet to sync with the network. That is normal, does not harm your computer, and makes the system as a whole more secure, so it’s advisable.

Bitcoin Qt

The original wallet.
This is a full-featured wallet: create multiple addresses to get bitcoins, send bitcoins easily, track transactions, and back up your wallet.
Outside of the time it takes to sync, this is usually a very easy to use option.
Search for Bitcoin Qt wallet download to get their site.
Armory

Runs on top of Bitcoi Qt, so that it has all the same syncing requirements.
Armory permits you to back up, encrypt, and the ability to store your bitcoins off line.
Seek out Bitcoin Armory Wallet to get their site.
If you don’t want that much memory used or don’t want to await your wallet to sync, there are good wallets that not make you sync the complete history of bitcocin:

Multibit

A lightweight wallet that syncs quickly. This is good for new users.
Seek out Bitcoin Multibit Wallet to find their site.
crypto mixer Electum

Not only is it quick and light, this wallet lets you recover lost data using a passcode.
Search for Bitcoin Electum Wallet to find their site.
After you obtain the wallet set up, have a few minutes clicking around. What to look for:

o There will be a full page that shows you just how many bitcoins are currently in your wallet. Remember that bitcoins can be broken up into smaller pieces, so you may see a decimal with plenty of zeros after it. (Interesting note, 0.00000001 is one Satoshi, named after the pseudonymous creator of bitcoin).

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