All you need to know, before start using bitcoins. (Guide for beginners)

[biranddiaz]

Getting started with bitcoin:

8 things you need to know, before you start using bitcoins.


1 - If you are about to explore Bitcoin, there are a few things you should know. Bitcoin lets you exchange
money in a different way than with usual banks. As such, you should take time to inform yourself before
using Bitcoin for any serious transaction. Bitcoin should be treated with the same care as your regular
wallet, or even more in some cases!


2 - Like in real life, your wallet must be secured. Bitcoin makes it possible to transfer value anywhere in a
very easy way and it allows you to be in control of your money. Such great features also come with great
security concerns. At the same time, Bitcoin can provide very high levels of security if used correctly.
Always remember that it is your responsibility to adopt good practices in order to protect your money.


3 - The price of a bitcoin can unpredictably increase or decrease over a short period of time due to its
young economy, novel nature, and sometimes illiquid markets. Consequently, keeping your savings with
Bitcoin is not recommended at this point. Bitcoin should be seen like a high risk asset, and you should
never store money that you cannot afford to lose with Bitcoin. If you receive payments with Bitcoin, many
service providers can convert them to your local currency.


4 - Any transaction issued with Bitcoin cannot be reversed, they can only be refunded by the person
receiving the funds. That means you should take care to do business with people and organizations you
know and trust, or who have an established reputation. For their part, businesses need to keep control of
the payment requests they are displaying to their customers. Bitcoin can detect typos and usually won't
let you send money to an invalid address by mistake. Additional services might exist in the future to
provide more choice and protection for the consumer.


5 - Some effort is required to protect your privacy with Bitcoin. All Bitcoin transactions are stored publicly
and permanently on the network, which means anyone can see the balance and transactions of any
Bitcoin address. However, the identity of the user behind an address remains unknown until information
is revealed during a purchase or in other circumstances. This is one reason why Bitcoin addresses should
only be used once. Always remember that it is your responsibility to adopt good practices in order to
protect your privacy.


6 - Transactions don't start out as irreversible. Instead, they get a confirmation score that indicates how
hard it is to reverse them. Each confirmation takes between a few seconds and 90 minutes, with 10
minutes being the average. If the transaction pays too low a fee or is otherwise atypical, getting the first
confirmation can take much longer...


Read more: http://buy-drugs.online/articles/gettin ... h-bitcoin/

[jamie.redman1]

Getting started with bitcoin:

8 things you need to know, before you start using bitcoins.


1 - If you are about to explore Bitcoin, there are a few things you should know. Bitcoin lets you exchange
money in a different way than with usual banks. As such, you should take time to inform yourself before
using Bitcoin for any serious transaction. Bitcoin should be treated with the same care as your regular
wallet, or even more in some cases!


2 - Like in real life, your wallet must be secured. Bitcoin makes it possible to transfer value anywhere in a
very easy way and it allows you to be in control of your money. Such great features also come with great
security concerns. At the same time, Bitcoin can provide very high levels of security if used correctly.
Always remember that it is your responsibility to adopt good practices in order to protect your money.


3 - The price of a bitcoin can unpredictably increase or decrease over a short period of time due to its
young economy, novel nature, and sometimes illiquid markets. Consequently, keeping your savings with
Bitcoin is not recommended at this point. Bitcoin should be seen like a high risk asset, and you should
never store money that you cannot afford to lose with Bitcoin. If you receive payments with Bitcoin, many
service providers can convert them to your local currency.


4 - Any transaction issued with Bitcoin cannot be reversed, they can only be refunded by the person
receiving the funds. That means you should take care to do business with people and organizations you
know and trust, or who have an established reputation. For their part, businesses need to keep control of
the payment requests they are displaying to their customers. Bitcoin can detect typos and usually won't
let you send money to an invalid address by mistake. Additional services might exist in the future to
provide more choice and protection for the consumer.


5 - Some effort is required to protect your privacy with Bitcoin. All Bitcoin transactions are stored publicly
and permanently on the network, which means anyone can see the balance and transactions of any
Bitcoin address. However, the identity of the user behind an address remains unknown until information
is revealed during a purchase or in other circumstances. This is one reason why Bitcoin addresses should
only be used once. Always remember that it is your responsibility to adopt good practices in order to
protect your privacy.


6 - Transactions don't start out as irreversible. Instead, they get a confirmation score that indicates how
hard it is to reverse them. Each confirmation takes between a few seconds and 90 minutes, with 10
minutes being the average. If the transaction pays too low a fee or is otherwise atypical, getting the first
confirmation can take much longer...


Read more: http://buy-drugs.online/articles/gettin ... h-bitcoin/

Nice post. Good points.