Demystifying Cryptocurrency And Bitcoin: Step By Step Guide To Buy And Use Bitcoin

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As popular as bitcoin is, one would have expected its ascent towards global adoption to be faster than current statistics would suggest. The irony of it all is bitcoin experts have also played a role in further alienating people from this currency. Yes, I just called it currency. Because that is what I believe should be the first thing anyone should know about bitcoin. It is meant to be used as everyday money. Buy groceries with it, pay your electricity bills, etc. you know the drill. This cryptocurrency has limitless potential. We are just starting to scratch the surface of what it can do. It should be easy to buy and trade bitcoin

If you are yet to join the bitcoin bandwagon, we don’t blame you for several reasons. Cryptocurrency and bitcoin experts have been confusing people with their geeky and techy language for years now. These people talk about bitcoin like it’s something only a computer programmer or genius can understand. You hear yawn-inducing terms like blockchain technology, proof of stake, smart contract. Reading these jargons made us bored too while starting-out in our journey into digital currencies. We almost completely lost interest until we found out the truth- Bitcoin and cryptocurrency are not boring or confusing, the so-called experts are.

At the very heart of it all, bitcoin is just like regular money- who cares how it came about? Think about the usual paper currency notes. Imagine if to use it, you’d have to know the type of ink used to print the notes and the type of machine used. Who the heck cares, right? Just give us the damn money already! Think of bitcoin the same way.

All these experts are just a waste of time giving you needless details about the science behind bitcoin and cryptocurrency. If bitcoin is to truly be used as money, you only need to have information about 3 things: how to get or buy bitcoin, how to save bitcoin, and how to spend bitcoin

– Getting it

– Saving it

– Spending it

This is what we cover in simple and clear terms in the paragraphs below.

But before that, let’s discuss one more popular misconception and a source of discouragement for many wanting to give bitcoin a try.

You must have heard the rumours — Bitcoin is primarily for fraudsters who exploit its anonymity to remain untraceable. Again false. But rather than go into a lengthy explanation and debate, we will use a Socratic questioning style to help you get the gist immediately. Let’s bring back the money (paper notes) analogy. Would you stop using paper money just because armed robbers can steal paper notes, corrupt politicians loot it and fraudsters can counterfeit it? Of course, you won’t stop using money (fiat currency). The fact that criminals can use it has nothing to do with you or the usefulness of fiat currency.

In the same way, the fact that some criminals have hijacked bitcoin for unscrupulous things has nothing to do with you and does not take anything away from the awesomeness of bitcoin. A good tool can be used for bad in the hands of the wrong person.

Now that you know to think about bitcoin as real money, let’s discuss the issues that concern you.

How to get or buy bitcoin? Where to store it? And how to spend it?

The next few paragraphs answer these questions as simply as possible. Meaning there are probably a ton of ways to get, store, and keep bitcoin but we will only discuss the easiest. The key is not to bombard you with too much information too soon. You just need to know the basics so you can start using bitcoin today. Yes, today.

Saving Bitcoin

You’ll need a wallet to store your bitcoin when you get it. Remember that bitcoin is digital currencies so we are not talking about physical leather wallets here. In our typical way, we’ll spare you the technical jargon. So where do you get a free wallet? Simply register an account with blockchain.com. It’s as easy as opening a Facebook or Instagram account.

See a few screenshots below. So once that is done, you’ll need to get your wallet address. It works just like your regular bank account number. If anyone wants to send you bitcoin you simply give the person your bitcoin address.

To locate your bitcoin address after logging in to blockchain.com, simply click ‘request’ which will reveal a string of numbers and letters. That is your bitcoin address. For example, you can ask your clients to send your payments to your address and the equivalent amount will show up in your blockchain.com account.

blockchain website buy bitcoin
blockchain website

Moving on.

Getting or Buying Bitcoins

Now that you know where to get or buy bitcoins, let’s show you the exact steps to purchase bitcoin with your credit or debit card. Sign up on paxful.com. (see screenshot below). Log in and verify your identity by sending the necessary I.D and document. You are now set to buy from any of the sellers in this huge marketplace. Once purchased the bitcoin will be sent to the bitcoin address you’ve provided.

paxful create account – buy bitcoin
paxful create account – buy bitcoin 1 1
paxful create account creation buy bitcoin

Another way to easily get bitcoin is to accept it as a payment option for your services.

Here’s another alternative platform to get bitcoin. Click here

Heck, you can even get free bitcoins on this site here.

But what do you do with bitcoin once you have it in your wallet? It is money — Save it (history shows us bitcoin’s value can increase over time. When it does you can sell it for cash) or spend it.

You can invest here to earn even more bitcoin.

Spending Bitcoin

More and more marketplaces, online stores, even companies accept bitcoins for payment of services. Some of them include Wikipedia, Microsoft, Cheapair.com, and many more. See a comprehensive list here.

Start spending Bitcoins today.

Join the conversation on my telegram group here.

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