Bitcoin is extremely empowering but also different than the currency you know and use every day.Buy BitCoin in Cameroon Sell BitCoin in Cameroon
Step 1 —> Get Started With Bitcoin
Before you start using Bitcoin, which is still experimental but has been operational without any interruptions for over eight years, there are a few things that you need to know in order to use it securely and avoid common pitfalls.
First, Bitcoins are impossible to counterfeit or inflate.
Second, you can use them to send or receive any amount of money, with anyone, anywhere in the world, at very low cost. Bitcoin payments are impossible to block, and bitcoin wallets can’t be frozen.
Third, with Bitcoin you can directly control the money yourself without going through a third party like a bank or Paypal.
Fourth, Bitcoin transactions cannot be reversed or refunded. You should only deal with businesses or people you trust.
Fifth, To be valid, a Bitcoin transactions must be confirmed at least once but preferrably 6+ times before it has happened and becomes irreversible.
Sixth, Bitcoin is not anonymous but there is tumbling. All Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Bitcoin address.
Seventh, you can get bitcoins by accepting them as a payment for goods and services or by buying them from a friend or someone near you. You can also buy them directly from an exchange with your bank account.
Eighth, there is a growing number of services and merchants accepting Bitcoin all over the world. You can use Bitcoin to pay them and rate your experience to help honest businesses to gain more visibility.
Ninth, the Bitcoin industry is always changing and there are many Bitcoin news services to stay up to date.
Tenth, beware of the confusingly similar Bcash, BCH, Bitcoin Cash project.
Step 2 —> How To Get A Bitcoin Wallet
Setting up your first Bitcoin wallet is simple. There are several quality mobile, desktop, and hybrid wallets available. If you want to do thorough research then you can read our comprehensive guide on how to find the best Bitcoin wallet.
Step 3 —> How To Get Bitcoins
How to buy Bitcoins
With the Bitcoin price so volatile many people seem curious about getting some. Below 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:
Coinbase.com is one of the world’s largest Bitcoin exchanges. Users in the United States, Canada, most of Europe, and Singapore can buy bitcoins with a connected bank account or SEPA transfer.
European users can purchase bitcoins with 3D secure credit or debit cards.
Indacoin is a global platform enabling the quickest bitcoin purchases in more than 200 countires with a credit or debit card and no registration.
If it’s the first time you use the card, you will receive a call from Indacoin with a 4-digit code, which should be entered on your order page. After that, you will have to enter a 3-digit code, which can be found on your online card statement next to the charge amount.
You will have the limit of $50 for the first transaction, $100 for the second transaction available after four days of the initial purchase and $500 after eight days of the first buy. The total limit for the first month will be $5,000 and then no limits at all.
Since your card is verified, cryptocurrency is sent automatically within ten minutes after the payment.
Kraken.com 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.
LocalBitcoins.com is an escrow service that helps match Bitcoin buyers and sellers
SpectroCoin.com is an all-in-one solution for Bitcoin offering an exchange, debit card and ability to buy bitcoins with credit cards.
How To Earn Bitcoins
Many people find that the best way to get bitcoins is to accept them as payment for the products or services they already sell. Just give your customers the option to pay in bitcoin.
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.
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What Is Bitcoin Mining?
Mining bitcoins requires an investment in specialized bitcoin mining hardware 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.
Nevertheless, there are many excellent bitcoin mining systems available.
It is important to point out that bitcoin mining is highly competitive and risky for would-be participants. Please see our bitcoin mining guide for more detail.
If you want to try your luck at bitcoin mining then this Bitcoin miner is probably the best deal.
Step 4 —> How To Use Bitcoins?
Starting to use bitcoins can be exciting because it is a new technology. 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 Purse.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.
Another tool many people like to buy is a Bitcoin debit card which enables people to load a debit card with funds via bitcoins.