Forum

BitCoin - How to open an account? WTF is it all about?
 

Hi.

I have not got a clue about bitcoin :ballchain:

I looked into it a few times but I can get my head round it :noidea:

I want to buy some stuff from here and most sellers accept bitcoin.


My query is this:
Is there a basic guide/website?

I want to load up some money in there and buy stuff.


Proper lamer question, but hey..... one person cant know it all X :violin:

Thanks ;)


oh yeah.... and that geezer from RT keeps going on about bitcoins and I would love to know what he is on about...... you know the guy, that fun fella who says it like it is

Re: BitCoin - How to open an account? WTF is it all about?
 

I'm in the same situation, I have no idea how to get it and what sites to trust. And I just don't understand how the value of it changes and whether or not I'm getting ripped off or getting a great deal.

Very frustrating lol and would appreciate if someone did chime in on this

Re: BitCoin - How to open an account? WTF is it all about?
 

Just need to get a bitcoin wallet:

https://bitcoin.org/en/choose-your-wallet

Can see the exchange rate from different exchanges here:
Bitcoin Price Index - Real-time Bitcoin Price Charts

Value changes pretty much the same as gold or anything else, just more volatile. More people want to buy than they do sell and the price goes up

Re: BitCoin - How to open an account? WTF is it all about?
 

Use either Bit-x or CoinBase

CoinBase is very very easy to understand

Best way to learn is to do!

Re: BitCoin - How to open an account? WTF is it all about?
 

Wonder if bitcoin mining is still doable - wasn't cost-effective last time I checked way way back...but maybe better now?

Re: BitCoin - How to open an account? WTF is it all about?
 

Depends on how much money you have to throw at equipment really

Re: BitCoin - How to open an account? WTF is it all about?
 

Mining btc stopped being anywhere near profitable years ago, unless you have a million dollar worth of dedicated hardware. If you want some coins for whatever reason, you're better off buying them.

Re: BitCoin - How to open an account? WTF is it all about?
 

Thanks for the info James and BiN4RY - only think I can do is free access to power but hardware and prices....no clue

Re: BitCoin - How to open an account? WTF is it all about?
 

Thanks for all the info everyone, much appreciated

Re: BitCoin - How to open an account? WTF is it all about?
 

Bitcoins for all :thumb:

Re: BitCoin - How to open an account? WTF is it all about?
 

I am going to sign up to Coinbase sometime this weekend.

Re: BitCoin - How to open an account? WTF is it all about?
 

Id use Bitcoin a lot more if it wasn't for the absolutely insane volatility of this currency...

Re: BitCoin - How to open an account? WTF is it all about?
 

I love CoinBase! I can instantly transfer money into my checking account, thus avoiding the volatility issue and I can deposit very quickly when I need to buy more bitcoin. And the volatility has not been so bad as of late. Given that it is the first digital currency, I think the volatility in the first years is just unavoidable. I think one day it will become like any other currency.

Before CoinBase, it was very difficult to buy bitcoin - you would often have to send a Western Union to someone in another country and HOPE LIKE HELL that you didn't get ripped off. Now with CoinBase, I can buy as much Bitcoin as I want with a couple of mouse clicks.

Re: BitCoin - How to open an account? WTF is it all about?
 

When you sign up for Coinbase, make sure you keep full records of your password etc. Try to avoid using a different means of accessing them unless you have ticked all the security boxes.

:violin:

Re: BitCoin - How to open an account? WTF is it all about?
 

Coinbase is a good option. I use MultiBit HD for my computer, though. Just try several wallets without putting any money into them and play around. Find which one works best for you. Keep in mind the security aspect of the different wallets.

Re: BitCoin - How to open an account? WTF is it all about?
 

I made a howto thread on my forum for my members on howto use bitcoin and what's it about.

What is Bitcoin?
Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren't printed, like dollars or euros – they're produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.

But if Bitcoin isn't real money, then how do i convert my money into bitcoins?
"Click here" simple way to do trades with other people around the globe
Here's a list of trusted Wallets:
Kraken - The largest European exchange with same-day SEPA
LocalBitcoins - This fantastic service allows you to search for people in your community willing to sell bitcoins to you directly. But be careful!
Anycoin Direct - An instant exchange for Europe and Canada using local trusted payment methods.
247exchange - An exchange with diverse payment methods including SWIFT bank transfers, credit/debit cards, and money orders
QuickBT - Buy small amounts with Debit Cards (Interac in Canada)
** Usually every wallet supports all countries. **

How do i create a bitcoin wallet just like PayPal?
There are many bitcoin wallets out there on the internet, Search "Bitcoin Wallets" on Google search. You will find many good trusted wallets where you could save your bitcoins in.
Bitcoin wallets store the private keys that you need to access a bitcoin address and spend your funds. They come in different forms, designed for different types of device. You can even use paper storage to avoid having them on a computer at all. Bitcoins are a modern equivalent of cash and, every day, another merchant starts accepting them as payment.

Which is the most trusted wallet providers?
Right now "Coinbase" is the most trusted wallet holder on the internet, currently they serve over 10-20 million people worldwide. I also use it :--)

How do i exactly use Bitcoin?
Now like i said there are many ways on how to use bitcoins, Google is your friend. Here i will give you a link on a "How to basic"

Want free bitcoins? Bitcoin Mining.
"Click here" or "Here" If you have the brain to do this, then go ahead :--)
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.

Just a small howto i made for my members.
NOTE: None of the links are PayPal nor eBay or Amazon.

Re: BitCoin - How to open an account? WTF is it all about?
 

Is it possible to transfer bitcoins to paypal using those exchange?

Re: BitCoin - How to open an account? WTF is it all about?
 

There are only 1/2 exchanges that you can buy BTC with PayPal via, and even then you have to do it via other currencies.

None that I know of offer a direct PayPal to BTC transfer.

Re: BitCoin - How to open an account? WTF is it all about?
 

Best option is to use EU Paypal and withdraw to a virtual Bitcoin debit card. Then buy Bitcoin with the funds & transfer out.

Re: BitCoin - How to open an account? WTF is it all about?
 

i was curious about this and tor and silk road months ago. managed to get tor loaded which was easier than i thought. got a bitcoin wallet but never used it, and i got to see silk road, which was lame. nothing but disgusting drugs.

stick with cash/gold. its easier.

Re: BitCoin - How to open an account? WTF is it all about?
 

I like coinbase.com, it's easy to use (just like PayPal) and anyone with BTC can pay you without any trouble with your BTC address.

And what I normally do is withdraw the same day to avoid deprecation.

Re: BitCoin - How to open an account? WTF is it all about?
 

Is the only way to verify a bank account you attach to coinbase to send tem 6 euros + the international bank transfer fee 33 euros?!

Also must agree with Aspkin, coinbase are really good. They are the bitcoin version of Paypal, only much better.

Re: BitCoin - How to open an account? WTF is it all about?
 

The one downside with CoinBase is the inability to create a VCC or plastic card.

Apart from that it is the one I use day in day out

Re: BitCoin - How to open an account? WTF is it all about?
 

https://bitpay.com/

BitPay is another good one but I find them to be more stringent then Coinbase. I have an account with them but it took months to get it to a point where I could do much with it because of the limits they place on new users.

Re: BitCoin - How to open an account? WTF is it all about?