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BITCOIN

Make your transaction easier with digitalized currency- bitcoins.

Let us first know what Bitcoin is all about:

Bitcoins are basically digital currency which is helpful for transactions through electronic transfers with the help of your mobile or computer. Like in case of paper currency or in case of gold and silver the real value of bitcoin is not assigned or backed by any form but if you want you can always convert it into money. It can be used to buy any products or pay for any service that you have availed. You cannot transfer these bitcoins to everyone, you need to first install your bitcoin wallet and then you need to earn bitcoins by purchasing them online or getting them from someone or by mining new bitcoins.

Bitcoin is the easiest way of online transaction nowadays; if you are already dealing with it then your online transaction will be very easy on our website as we accept bitcoin transaction on our website.

For all those who are unaware of bitcoin transaction and want to get a brief idea about bitcoin and its usefulness in an online transaction process then you can definitely go through the below mention details as the entire system is mentioned in an understandable manner.

There are three types of Bitcoin wallets:

The first one is software wallet - It is a digital form of a wallet where your bitcoins are stored in your device, like your computer or your smartphones (Mobile Phone) Your transaction process become much easier with the software wallet as you can easily transfer or receive money on your device. But sometimes this is also dangerous as this kind of software wallets is susceptible to the hackers.

The second form of the wallet is the hosted wallet – In this kind of wallet a third party handles your wallet account and the entire transaction process of buying and trading is taken care by the third part. But in this type of transaction, the most difficult part is to find a trusted person and to whom you can give your entire confidential details so that the person can handle all your transactions.

The third and the last form is the physical wallet In this kind of wallet, you can save the bitcoins in offline mode. This kind of wallets is considered to be the safest form, but during the transaction process you have to first install your bitcoins in the software and only then you can do the transactions.

Know how to set up a bitcoin wallet before any transaction:

A bitcoin wallet features are just like your day to day wallet features where you can store your money and you can give your money to purchase something or some services.

A bitcoin wallet can be of variant forms it can be computer software or hardware or just a physical piece of paper. It is a place where you have to store your bitcoins to make a transaction in future.

These bitcoins wallets have special keys in it which will be used later on when you have to do some trade with your bitcoins or use your bitcoins to buy product or services.

Accessibility to bitcoins:

Bitcoins can be accessed by these 3 ways

If you want to earn bitcoin then you can do it by selling services and buying the services

You need first find our people who are having bitcoins with them and then you need to settle your transactions with those people so you can offer them some services or sell your products to them and in return, they will pay you back in bitcoins. There are also other ways of getting bitcoins other than getting it from some person. Bitcoins can also be bought in return for cash or you can also mine the bitcoins which are explained below:

If you are not able to settle any transaction which can earn you bitcoins then, in that case, you can also purchase the bitcoins. You can buy bitcoins from a person who is willing to sell them; you have the facility to pay through cash or credit and debit cards. You just have to find someone who is trustworthy so that you can use escrow service which includes coin cola or local bitcoins.

 If you are using OTC service then, in that case, it will require your Id proof for security purpose. You will also require the identity proof of the other person who is involved in a transaction with you.

Buying of bitcoin from various exchanges and outlets:

These bitcoin exchanges outlets are very helpful in selling bitcoins to customers directly; this service also has a unique quality where the online service also helps in settling the transactions with the users that means it settles the exchange transactions. If you want to buy bitcoins from exchanges and bitcoin outlets then you need to first verify your identification details. Once your identity is verified you can easily use it for the transaction.

Bitcoin can also be bought from your nearest bitcoins ATM. The bitcoins are one directional for use. This bitcoin can be either used for trading for cash or can be bought from someone. But the main problem in getting these bitcoins is that the government has very strict regulations on the installation of these ATM at a specific place and you may have a problem in finding an ATM for you.

A third way of getting Bitcoins is by Data mining them:

If you are not able to get them through any of these methods then, in that case, you will have to solve typical mathematical puzzles about the history of different transactions. If you are able to do so then In return you will get free bitcoins as a reward but you will have to pay a processing fee for the transaction process of these bitcoins. This method of getting bitcoin is not very easy and it is impossible for most of the persons.

You need to learn how to transfer bitcoins for the transaction:

Sending money through software wallet- In order to send your money to someone you need to click on the send option of your bitcoins wallet, you can also select the trade bitcoins options. Under trade bitcoins options you have to enter the receiver’s entire wallet details. You can do it by typing it manually or you can copy paste it to your address. After filling all the details click on the review button option and check the details that you have just entered and finally send the bitcoins.

Sending money through your paper wallet- In this type of transaction, you will be needed to install the paper wallet in the software wallet first by either entering the special letter series or scanning the QR code and then follow the same options as you have followed in the software wallet transaction process above.

The third method of transferring is by sending it through hosted wallet- This process is very much similar to sending money through software wallet. In this process, you will have to alert as many hosted wallet show themselves as online banks. But there can be a problem of these online banks being fraud or fake as these hosted wallets do not have any insurance or they do not assure any security.

One should always keep this in mind that on the website where you have hosted your wallet once cannot be retrieved and you will lose all your bitcoins.

Where can you get the bitcoin app?

Nowadays it is very easy to get the bitcoin app as you can get this app on your smartphones instantly. You just need to search for bitcoin.com wallet on your Google play store search panel or the app store or on your IOS device.

You need to look for the bitcoin app and then click to “install” or click the “get” button.