Sunday, 30 April 2017

Stay ahead ....Learn how to create bitcoin wallet & how to use bitcoin....

Image result for bitcoin

We have been on a roll to educate our millions of readers about the future currency...Bitcoins. 

Bitcoins, being a virtual currency is growing like anything.People are getting more & more curious about it specially our youth and tech savy geeks.Bitcoin is not only providing a new developed source of transaction but also helping people to gain reach to a totally new dimension.

Bitcoin is suppose to be the most powerful currency of the world with 1 bitcoin costing about 1350 $ (as per today's rates).

Bitcoin can be acquired by anybody, living anywhere with internet and a net supporting device, be it a mobile, desktop or Lappy.

As we know, you have to learn walking before running. Same goes for Bitcoins, their exists various facts to learn about Bitcoin. Hence first you have to understand the process of how to get started with bitcoins.There exist many bitcoin wallets which you can use to kick off your bitcoin journey.

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Some of them are listed here:

1.  Blockchain
2.  Bitcoin Core
3.  Bitcoin Knots
4.  Bither
5.  Greenbits
6.  Coin.Space
7.  Simple Bitcoin
8.  mSigna
9.  Electrum
10. Breadwallet

Image result for bitcoin account opening process

Lets understand the process of starting with Bitcoin wallet :

1. Like any online portal you have to create an account with one of the wallets, where you have to fill in your details like name, email, phone no etc.

2. Thereafter email verification should be done.

3. Remember after the account is created you will receive your own online Bitcoin address which is the only way to access your wallet.This address will be quite long and complex with lots of alphabets, numbers, symbols, and precise use of caps lock, so that nobody can easily remember it.

4. Some of the portals provide an exclusive safety feature of duplicate address. It means an extra address will be generated for the same wallet but with different alphabets and numbers, for use in 3rd party Bitcoin friendly sites. ONLY this extra address will be shared on third party Bitcoin sites to keep your wallet safe. Original address should be used on your Bitcoin wallet portal only...


OK, lets see an example...

Many or almost all of our readers are having online banking accounts.while opening the account it always asks you whether you want to have:

1. An Online Account for checking balance only or 
2. An Online Account for checking balance and transaction also.
So, On selecting option 1, it keeps you safe from any kind of online fraud, cause no transaction is involved while same is not the case with option 2.

Similarly, in Bitcoin portal, extra address acts as option 1 (use it whenever doing transaction) while original address is option 2.(use only on your Bitcoin wallet portal)

Whenever doing any kind of transactions online while providing your address always provide the second address or (extra address).


If you are looking to create a Bitcoin account, or you have any queries related to Bitcoin, i am just one comment away.....