{"id":3660,"date":"2013-12-12T12:11:38","date_gmt":"2013-12-12T12:11:38","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=3660"},"modified":"2022-09-21T14:37:04","modified_gmt":"2022-09-21T14:37:04","slug":"how-to-get-started-with-bitcoin-my-currency-transfer-tv","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/how-to-get-started-with-bitcoin-my-currency-transfer-tv\/","title":{"rendered":"How to get started with Bitcoin | MyCurrencyTransferTV"},"content":{"rendered":"<p>Following the success of our first Bitcoin video and demand for a second, we have created this guide on the next steps to understanding and using Bitcoin. This episode explains how to create a web wallet, where to buy Bitcoins and how to find the local exchange rates.<\/p>\n<div class=\"wistia_embed\" id=\"wistia_r39efi5joo\" style=\"width: 640px; height: 388px;\">\n<div itemprop=\"video\" itemscope=\"\" itemtype=\"http:\/\/schema.org\/VideoObject\"><meta itemprop=\"name\" content=\"Getting Started With Bitcoin - MyCurrencyTransfer TV\" \/><meta itemprop=\"duration\" content=\"PT5M32S\" \/><meta itemprop=\"thumbnailUrl\" content=\"https:\/\/embed-ssl.wistia.com\/deliveries\/9e9c5385518dcd699369405bad4fa70f5811d24a.bin\" \/><meta itemprop=\"contentURL\" content=\"https:\/\/embed-ssl.wistia.com\/deliveries\/e98ce8f7860a50de6548180fb258c8727ed3f762.bin\" \/><meta itemprop=\"embedURL\" content=\"https:\/\/embed-ssl.wistia.com\/flash\/embed_player_v2.0.swf?2013-10-04&amp;autoPlay=false&amp;banner=false&amp;controlsVisibleOnLoad=true&amp;customColor=026eb2&amp;endVideoBehavior=default&amp;fullscreenDisabled=true&amp;hdUrl%5Bext%5D=flv&amp;hdUrl%5Bheight%5D=720&amp;hdUrl%5Bsize%5D=109195723&amp;hdUrl%5Btype%5D=hdflv&amp;hdUrl%5Burl%5D=https%3A%2F%2Fembed-ssl.wistia.com%2Fdeliveries%2F62c5935aaf825ff73e952ebc797c0557b2db9261.bin&amp;hdUrl%5Bwidth%5D=1280&amp;mediaDuration=332.0&amp;playButtonVisible=true&amp;showPlayButton=true&amp;showPlaybar=true&amp;showVolume=true&amp;stillUrl=http%3A%2F%2Fembed.wistia.com%2Fdeliveries%2F9e9c5385518dcd699369405bad4fa70f5811d24a.jpg%3Fimage_crop_resized%3D640x360&amp;unbufferedSeek=false&amp;videoUrl=https%3A%2F%2Fembed-ssl.wistia.com%2Fdeliveries%2Fe98ce8f7860a50de6548180fb258c8727ed3f762.bin\" \/><meta itemprop=\"uploadDate\" content=\"2013-12-12T02:26:48Z\" \/><object id=\"wistia_r39efi5joo_seo\" style=\"display: block; height: 360px; position: relative; width: 640px;\" width=\"320\" height=\"240\" classid=\"clsid:d27cdb6e-ae6d-11cf-96b8-444553540000\" codebase=\"http:\/\/download.macromedia.com\/pub\/shockwave\/cabs\/flash\/swflash.cab#version=6,0,40,0\" bgcolor=\"#000000\"><param name=\"allowfullscreen\" value=\"true\" \/><param name=\"allowscriptaccess\" value=\"always\" \/><param name=\"wmode\" value=\"opaque\" \/><param name=\"flashvars\" value=\"autoPlay=false&amp;banner=false&amp;controlsVisibleOnLoad=true&amp;customColor=026eb2&amp;endVideoBehavior=default&amp;fullscreenDisabled=true&amp;hdUrl%5Bext%5D=flv&amp;hdUrl%5Bheight%5D=720&amp;hdUrl%5Bsize%5D=109195723&amp;hdUrl%5Btype%5D=hdflv&amp;hdUrl%5Burl%5D=https%3A%2F%2Fembed-ssl.wistia.com%2Fdeliveries%2F62c5935aaf825ff73e952ebc797c0557b2db9261.bin&amp;hdUrl%5Bwidth%5D=1280&amp;mediaDuration=332.0&amp;playButtonVisible=true&amp;showPlayButton=true&amp;showPlaybar=true&amp;showVolume=true&amp;stillUrl=http%3A%2F%2Fembed.wistia.com%2Fdeliveries%2F9e9c5385518dcd699369405bad4fa70f5811d24a.jpg%3Fimage_crop_resized%3D640x360&amp;unbufferedSeek=false&amp;videoUrl=https%3A%2F%2Fembed-ssl.wistia.com%2Fdeliveries%2Fe98ce8f7860a50de6548180fb258c8727ed3f762.bin\" \/><param name=\"src\" value=\"https:\/\/embed-ssl.wistia.com\/flash\/embed_player_v2.0.swf?2013-10-04\" \/><embed id=\"wistia_r39efi5joo_seo\" style=\"display: block; height: 360px; position: relative; width: 640px;\" width=\"320\" height=\"240\" type=\"application\/x-shockwave-flash\" src=\"https:\/\/embed-ssl.wistia.com\/flash\/embed_player_v2.0.swf?2013-10-04\" allowfullscreen=\"true\" allowscriptaccess=\"always\" wmode=\"opaque\" flashvars=\"autoPlay=false&amp;banner=false&amp;controlsVisibleOnLoad=true&amp;customColor=026eb2&amp;endVideoBehavior=default&amp;fullscreenDisabled=true&amp;hdUrl%5Bext%5D=flv&amp;hdUrl%5Bheight%5D=720&amp;hdUrl%5Bsize%5D=109195723&amp;hdUrl%5Btype%5D=hdflv&amp;hdUrl%5Burl%5D=https%3A%2F%2Fembed-ssl.wistia.com%2Fdeliveries%2F62c5935aaf825ff73e952ebc797c0557b2db9261.bin&amp;hdUrl%5Bwidth%5D=1280&amp;mediaDuration=332.0&amp;playButtonVisible=true&amp;showPlayButton=true&amp;showPlaybar=true&amp;showVolume=true&amp;stillUrl=http%3A%2F%2Fembed.wistia.com%2Fdeliveries%2F9e9c5385518dcd699369405bad4fa70f5811d24a.jpg%3Fimage_crop_resized%3D640x360&amp;unbufferedSeek=false&amp;videoUrl=https%3A%2F%2Fembed-ssl.wistia.com%2Fdeliveries%2Fe98ce8f7860a50de6548180fb258c8727ed3f762.bin\" bgcolor=\"#000000\" \/><\/object><noscript itemprop=\"description\">A guide on how to use Bitcoin including how to create a wallet, where to buy them and how to watch the rates in order to make the most of this virtual currency.<\/p>\n<p><\/noscript><\/div>\n<\/div>\n<p><script charset=\"ISO-8859-1\" type=\"text\/javascript\" src=\"\/\/fast.wistia.com\/assets\/external\/E-v1.js\"><\/script><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\nwistiaEmbed = Wistia.embed(\"r39efi5joo\");\n\/\/ ]]><\/script><br \/>\n<script charset=\"ISO-8859-1\" type=\"text\/javascript\" src=\"\/\/fast.wistia.com\/embed\/medias\/r39efi5joo\/metadata.js\"><\/script>Hi there and welcome to another episode of MyCurrencyTransferTV. We\u2019ve talked a little bit previously about <a href=\"http:\/\/www.mycurrencytransfer.com\/blog\/2013\/09\/an-overview-of-bitcoin-3325\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a>, what it is and a little bit about how it works. I thought today why not cover 3 questions as to the next steps.<\/p>\n<p>So once you know what Bitcoin is, how do you;<\/p>\n<ul>\n<li>Create a wallet. It\u2019s not a physical wallet, so where do you get it? How do you set it up?<\/li>\n<li>Where to buy Bitcoins. How do you get hold of this virtual currency?<\/li>\n<li>What are the market rates? How do I keep up to date with Bitcoin rates going up and down?<\/li>\n<\/ul>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-3664\" alt=\"getting-started-with-bitcoin\" src=\"http:\/\/www.mycurrencytransfer.com\/blog\/wp-content\/uploads\/2013\/12\/getting-started-with-bitcoin1.png\" width=\"640\" height=\"496\" srcset=\"https:\/\/www.mycurrencytransfer.com\/blog\/wp-content\/uploads\/2013\/12\/getting-started-with-bitcoin1.png 640w, https:\/\/www.mycurrencytransfer.com\/blog\/wp-content\/uploads\/2013\/12\/getting-started-with-bitcoin1-300x232.png 300w, https:\/\/www.mycurrencytransfer.com\/blog\/wp-content\/uploads\/2013\/12\/getting-started-with-bitcoin1-206x160.png 206w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><br \/>\n <strong>How do you create a wallet?<\/strong><\/p>\n<p>So to create a wallet there are two ways. The most popular way is the one I\u2019d advise, one that I use myself. It\u2019s a website called <a href=\"http:\/\/blockchain.info\/\" target=\"_blank\" rel=\"noopener\">blockchain.info<\/a>. There you put in your username, password, e-mail address, set-up. You are presented with a Bitcoin address once you are logged in which you don\u2019t need to keep private. It is public and you can share it with anyone so that people can send you money to that Bitcoin address. I would recommend to save your private key, in order to keep your money safe. If you search \u2018how do you save your private key\u2019 or \u2018export private key\u2019 on blockchain, you will find answers to that. Quite simply, there\u2019s an import and export tab once you log in, and you can save that. The reason why you want to do that is because if Blockchain was to go down, your money will be safe. If you didn\u2019t export your private key, nobody else has a copy of it, and it&#8217;s not backed up, then its lost. Most web wallets are treated as a bit unsafe as if for instance a hacker was to break in to a web wallet they can take all the private keys etc. With <a href=\"http:\/\/blockchain.info\/\" target=\"_blank\" rel=\"noopener\">Blockchain.info<\/a>, at least if the site crashes, your money is still yours.<\/p>\n<p>Another option for creating a wallet is to use an application that\u2019s not web based but from your computer so you must rely on yourself to back it up etc. A couple of options here are <a href=\"http:\/\/bitcoin.org\/en\/download\" target=\"_blank\" rel=\"noopener\">Bitcoin-q<\/a>t which is the original Bitcoin application for wallets and is very popular. A few others, <a href=\"https:\/\/multibit.org\/help.html\" target=\"_blank\" rel=\"noopener\">Multibit<\/a>, <a href=\"https:\/\/bitcoinarmory.com\/\" target=\"_blank\" rel=\"noopener\">Armory<\/a>. These are all cross-platform, Mac, Lennox, Windows, Android so you can access your money in different formats.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Where do you buy them?<\/strong><\/p>\n<p>There are a couple of ways you can buy these Bitcoins, namely from people as they will have got them somehow. They are not bought from a machine that generates them, they do get generated and mined but they\u2019re mined by groups of people so you have to buy them from a person so they are generally traded. There are a couple of online exchange platforms that do this, one of which is <a href=\"https:\/\/localbitcoins.com\/\" target=\"_blank\" rel=\"noopener\">localbitcoins.com<\/a> amongst a couple of others. I prefer to use <a href=\"https:\/\/bittylicious.com\/\" target=\"_blank\" rel=\"noopener\">bittylicious.com<\/a>. Here you will be required to enter your Bitcoin address at the top, how many Bitcoins you want, you place the order, are presented with the bank details of the person you need to send the Pound equivalent amount to and once you do that, a few minutes later they will send the Bitcoin amount to your Bitcoin address. Very simple, very quick, great.<\/p>\n<p><a href=\"https:\/\/localbitcoins.com\/\" target=\"_blank\" rel=\"noopener\">Localbitcoins.com<\/a> on the other hand gives you a number of different options of paying, so not just bank-to-bank. You can buy the Bitcoins in cash, you meet up with the person, give them the cash and they then transfer Bitcoins. That works as well.<\/p>\n<p>If you\u2019re in the USA, <a href=\"https:\/\/coinbase.com\/\" target=\"_blank\" rel=\"noopener\">coinbase.com<\/a> is an option that\u2018s a lot like Paypal. It\u2019s quite big, it\u2019s got a well-built out website. The only down-side of coinbase.com is that it takes about 4 days for the Bitcoins to arrive once you\u2019ve placed the order whereas with bittylicious.com it tends to be within the next 2 hours. It\u2019s only dependent on when the recipient receives your money so that they can send you the Bitcoins. So that relies on the banking system but I\u2019ve found it to take half an hour generally.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>What are the rates?<\/strong><\/p>\n<p>Everyone wants to know, are the rates going up or down? When is the best time to buy? Of course no one knows when the best time to buy is. Of course no one knows when the best time to buy is, it\u2019s all speculative. So to get in on this speculative action, check out the website, <a href=\"http:\/\/bitcoinity.org\/markets\" target=\"_blank\" rel=\"noopener\">bitcoinity.org\/market<\/a>s. If you want a specific UK chart with British Pound and Bitcoin exchange rate data then visit <a href=\"http:\/\/bitcoinity.org\/markets\/localbitcoins\/GBP\" target=\"_blank\" rel=\"noopener\">bitcoinity.org\/markets\/localbitcoins\/GBP<\/a>. Otherwise, bitcoinity.org\/markets will give you information on the markets of Bitcoins to help you buy and sell them in future.<\/p>\n<p><strong>Need extra tips on Bitcoin?<\/strong><br \/>\n <!-- Place this tag in your head or just before your close body tag. --><br \/>\n<script type=\"text\/javascript\" src=\"https:\/\/apis.google.com\/js\/plusone.js\"><\/script><\/p>\n<p><!-- Place this tag where you want the widget to render. --><\/p>\n<div class=\"g-post\" data-href=\"https:\/\/plus.google.com\/114468360733807369950\/posts\/Ch27ThcB2gz\"><\/div>\n<p>&nbsp;<\/p>\n<p>I hope you have found these next steps on Bitcoin useful.<\/p>\n<p>If you have any questions, please do not hesistate to reach out to me on Twitter <a href=\"https:\/\/twitter.com\/stevanl\" target=\"_blank\" rel=\"noopener\">@stevanl<\/a> or e-mail me at stevan@mycurrencytransfer.com<\/p>\n<p>Written by Stevan Litobac on <a href=\"https:\/\/plus.google.com\/100934858321641794088\/about\" target=\"_blank\" rel=\"noopener\">Google+<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following the success of our first Bitcoin video and demand for a second, we have created this guide on the next steps to understanding and using Bitcoin. This episode explains how to create a web wallet, where to buy Bitcoins and how to find the local exchange rates. A guide on how to use Bitcoin including how to create a [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":3809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[115],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/3660"}],"collection":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/comments?post=3660"}],"version-history":[{"count":10,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/3660\/revisions"}],"predecessor-version":[{"id":5894,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/3660\/revisions\/5894"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media\/3809"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=3660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=3660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=3660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}