What is Bitcoin and how to use it

✨ Megiddo

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Introduction :

This is intended as a functional guide only. It is the bare minimum you need to get started. There are whole discussion forums dedicated to bitcoin and numerous highly technical academic papers on the subject. As always, I encourage you to do your own additional research and I'll provide links for further reading at the end of this article.

About bitcoin & why we use it :

Bitcoin is a distributed peer-to-peer digital currency developed by Satoshi Nakamoto (pseudonym). Cryptographic hash functions allow the secure transfer of bitcoins across the internet. It is decentralized by design, meaning that it is outside of the control of central banks like the Federal Reserve.

Why we use it here :
Decentralization - Outside of control of central banks, can't be shut down or seized, funds stored locally.
Anonymity - Relatively easy to obfuscate source of funds by using washing services, splitting wallets etc.
Speed - Usually instant if you include the recommended transaction fee.
Irreversibility - Transactions are final. Unlike paypal and credit cards, it is impossible for funds to be clawed back. See comparison of various payment methods.
Setting up a new bitcoin wallet/account :

1 - go to the website : NEW BITCOIN WALLET
2 - Click on Start a new bitcoin wallet ( put your email/password ... )
3 - go to your email and click on the blockchain verification Link.
4 - log to your Bitcoin wallet and congratulation your new BTC wallet.
5 - if you want to buy something with bitcoin , just ask the seller for his btc address and send the btc to him .
6 - if someone want buy something from you , just give him your btc address.

From where I can buy Bitcoin ?

There are various methods available for buying bitcoins. Anyway you can use this website : localbitcoins.com

Reference

Bitcoin Wallet : https://blockchain.info/wallet/login
Bitcoin exchange : https://localbitcoins.com



I hope that I gived you some useful informarion here , Thx for reading
 

nejiboy

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thank you for your explanation.
 
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