Starting with Bitcoin. HELP?

Hi guys, I'm wanting to get into buying and selling things with Bitcoin as I've heard it's essentially scam-proof. Once someone sends you bitcoin there's no way to get it back (am I right?)

If so, I'm wanting to start using the currency, but after looking online for a little while I'm still not 100% sure on how to go about trading it. Can anyone shed some light onto the situation for me?

^_^

Many thanks in advance.

 

Ok my friend here it goes, So basically, you require a wallet to hold your bitcoins and manage your transactions and follow up with who paid you and who havnt, so i would recommend to start at www.coinbase.com which is a wallet hoster.

You can register and open an account, you will get your wallet address(which you will provide to your customers for the payment) also variable ways of depositing or cashing trading back your BTC right into your bank account.

The good thing about Coinbase is that you can connect your bank account and verify it directly with them to make it easier to buy and sell or transfer BTC from your wallet into your bank account

As for security I believe someone else can be a better aid in that topic however there has been some cases of wallet hacks (not coinbase that i heard of) and people usually say you must keep your computer highly secured with an updated antivirus.

As for processing a transaction, Yes it is irreversible unlike paypal once you receive the money there is no going back

hope this helps a bit

 

Many thanks for the help! I'll be sure to check the website out and look into it. Sounds good. ^_^

 

Does anyone have the easiest sites to obtain/sell bitcoins from? Verification can be a bit of a pain but understandably so. That's why it hasn't took off here, OP. And volatility.

 

If you're from the USA Coinbase and Circle are great options.

 

i have this description i typed up saved in a notepad lol.

Bitcoin is an online currency that allows you to send/receive payments through bitcoin addresses. A bitcoin address is made of random numbers and letters. For example: 1LXN5mFL9E9WYM4Ge2GsHzFTH1Q6n4spWm
When sending a payment, you would request the recipients address, and send the bitcoin to it.
To get started, there are many online wallets to choose from, but personally I recommend coinbase.com. An online wallet such as Coinbase is where you store your bitcoins that people send and where you send bitcoins from. You can find your address in your online wallet.
To purchase bitcoins, the best, most cost-effective way is to verify and purchase through your bank. However, many people sell bitcoins for various payment methods, but rates will most likely be higher.
Note - At the time of writing this, 1 bitcoin is currently worth over 250 dollars. You do not have to spend that much, as you can buy fractions of bitcoins.

 

Thanks for the help, guys. I've signed up at coinbase and got verified. When I next get paid I'll buy some BTC and see how it goes.

 

Localbitcoins could help you, as you can trade IRL or ppl from near areas.

 

Utilize BlockChain or Circle for all your bitcoin needs. Prices fluctuate often so be aware of that because it's not a reliable money sink