The best way to learn about bitcoin, is to jump in and get several in your “pocket” to obtain a feel for how they work.
Despite the hype about how difficult and dangerous it might be, getting bitcoins is a lot easier and safer than you may think. In a lot of ways, it is probably easier than opening an account at a traditional bank. And, given what has been happening in the bank operating system, it really is probably safer too.
There are hardware to learn: getting and utilizing a software wallet, learning how to send and receive money, learning how to buy bitcoin from a person or an exchange.
Preparation
Before getting started, you will have to get yourself a wallet. You can certainly do this easily enough by registering with one of the exchanges that may host wallet for you. And, although I think you will want to have one or more exchange wallets eventually, you need to start with one on your own computer both to get a better feel for bitcoin and as the exchanges remain experimental themselves. When we reach that stage of the discussion, I am advising that you will get in the habit of moving your money and coins off the exchanges or diversifying across exchanges to keep your money safe.
What is a wallet?
It is a solution to store your bitcoins. Specifically, it is software that has been designed to store bitcoin. It could be run on your pc, laptop, mobile device (except, as yet, Apple) and can also be produced to store bitcoins on things such as thumb drives. Should you be concerned about being hacked, then that is a good option. Even the Winklevoss* twins, who have millions committed to bitcoin, put their investment on hard drives which they then placed into a safety deposit box.
*The Winklevoss twins will be the ones who originally had the idea for a social media site that became Facebook. They hired Mark Zuckerberg who took their idea as his own and became immensely rich.
What do you need to know about having a bitcoin wallet on your pc?
Below you can download the original bitcoin wallet, or client, in Windows or Mac format. They are not just wallets, but are actually section of the bitcoin network. They will receive, store, and send your bitcoins. It is possible to create one or more addresses with a click (an address is really a number that appears like this: 1LyFcQatbg4BvT9gGTz6VdqqHKpPn5QBuk). You will see a field where you can copy and paste lots like this from a person you need to send money to and off it will go straight into that person’s wallet. You may also create a QR code that may let someone have a picture with an app on their phone and send you some bitcoin. It is perfectly safe to give these out – the address and QR code are both for my donations page. Feel absolve to donate!
NOTE: This type of wallet acts both as a wallet for you personally and as area of the bitcoin system. The reason why bitcoin works is that every transaction is broadcast and recorded as lots over the entire system (and therefore every transaction is confirmed and made irreversible by the network itself). Any computer with the proper software can be part of that system, checking and supporting the network. This wallet serves as your individual wallet and in addition as a support for that system. Therefore, be aware that it will require up 8-9 gigabytes of one’s computer’s memory. Once you install the wallet, it will take as much as each day for the wallet to sync with the network. That is normal, does not harm your computer, and makes the system all together more secure, so it’s advisable.