How to use bitcoin

By using our site, you agree to our cookie policy. Buy large amounts how to use bitcoin Bitcoin via a trading exchange.

2000 of Bitcoin, you will want to take advantage of the lower commission rates offered on an exchange. Creating an account at an exchange is a similar process to opening a new bank account, you will likely need to give them your real name, contact information and send them money. Take money out of a Bitcoin ATMs. Many cities around the world offer a bitcoin ATM where you can trade cash for bitcoin. An up to date list of bitcoin ATMs can be found at CoinATMradar.

Buy bitcoin from a live person offline. All over the world it’s possible to give someone a wad of cash and have them load some bitcoins onto your phone. Please only trade small amounts of money till you trust your trading partner. Look for other companies that are willing to hire people in exchange for bitcoin. While profitable mining was possible for individuals in the early days of Bitcoin, it’s now in the domain of specialized companies. Set up your first Bitcoin wallet.

If you don’t feel technically competent, it’s perfectly acceptable to ignore the next few steps and just leave your bitcoin in the account where you bought them. In fact, most bitcoin holders do just that. But the beauty of bitcoin is that it’s money that no third party needs to control for you. Web wallets are convenient and user-friendly, because they are always available online. All you need to do is set up an account and log in. Hardware wallets are highly secure and mostly foolproof.