Super easy Bitcoin how to.
To use bitcoin you need a wallet
There are many options out there to create a bitcoin wallet. It all works the same way fundamentally. This super easy bitcoin how to is trying to keep it as simple as possible for someone who is new too bitcoin. Without getting into to many words and the nitty-gritty technicalities. You can go here to create a bitcoin wallet for free:
Click on “Create new wallet”
It will then ask you to generate a key phrase. THIS is one of the MOST IMPORTANT parts of creating and operating your bitcoin wallet along with owning and controlling your bitcoin. NEVER lose this key phrase and keep it somewhere safe where there is no chance of anyone getting it. If you are using a website, app, or platform that is not giving you the key phrase of your bitcoin wallet it means they are a CUSTODIAN. Which means you have to trust them with the control and security of your bitcoin. Today there are some very secure and trusted custodians, some are listed below.
After generating the key phrase. Confirming some of the key phrase words and entering a password. You officially have a bitcoin wallet.
Whenever you go to coin.space you will be able to open and use your now existing wallet with your key phrase and password.
Using this wallet you can hold, send, and receive bitcoin. Now for the super easy bitcoin how to send and recieve.
How to receive
If you click the receive tab at the top you can find your wallet address. All you have to do is copy this address and give it to the person who wants to send you bitcoin. You can give anyone this address. This is an example of what a bitcoin address looks like:
12aV1gDJzYVjHqmrDAhzUPwloQxp7SwNCV
Generally these days every wallet and custodian wallet gives a copy button that copies the address properly. BE VERY AWARE that if this address is wrong when sending or receiving bitcoin you will lose your bitcoin. It could be either be sent to an address which doesn’t exist and be lost forever or be sent to someone who will not give you your bitcoin back. So be careful.
How to send
Sending is the reverse process of receiving. You need to be given an address. When you have it. Choose an amount and send it to the address. Bitcoin takes a little more time than a regular institution but don’t sweat. The transaction will be confirmed and completed shortly. You can use a BITCOIN EXPLORER to monitor the progress of the transaction.
When using bitcoin I would suggest using small amounts of value a couple of times that you are ok with losing to make sure you understand it all. Once you are comfortable bitcoin is yours to freely use anywhere anytime. Enjoy!
Custodians where YOU can CREATE Bitcoin wallets
A deeper look into bitcoin to create a wallet
Running your own NODE
OTHER TUTORIALS
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