Nickel Bitcoiner
Nickel Bitcoiner
Posts: 25
Joined: Tue Jun 13, 2017 10:31 am

A beginners guide to Bitcoins

Tue Jun 27, 2017 7:18 pm

Hope it might be useful 8-)

Posts: 1
Joined: Mon Dec 11, 2017 4:40 pm

Re: A beginners guide to Bitcoins

Mon Dec 11, 2017 4:43 pm

I've created a beginners guide too on setting up your first wallet and mining with Bitcoins for some friends. Hopefully it's of some use here too :-)...

Nickel Bitcoiner
Nickel Bitcoiner
Posts: 41
Joined: Sat Jul 07, 2018 1:54 pm

Re: A beginners guide to Bitcoins

Tue Jul 24, 2018 10:40 am

Beginners Guide to Bitcoins
- It is digital currency.
- not owned by a central government or a central bank
- it is decentralized which means it can be sent from any point in the world to another.
1) Before a Bitcoin can be purchased a user must install a virtual "wallet" onto a personal computer or mobile device. The wallet, which is similar to personal finance software, keeps track of your Bitcoin balance and all transactions.
2) To buy a Bitcoin, real money must either be deposited through an online payment company or transferred directly from bank account into an account on a third-party website that connects bitcoins buyers and sellers.
3) Once the funds are available, a buyer can place an order for a bitcoin, similar to trading stocks, through an exchange.
4) Bitcoins can also be purchased from third parties, which sends the coins directly into the virtual wallet.

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