How to

Learn how to use bitcoin in 6 easy steps

Bitcoin works as a payment system and as a currency. This technology, full of new and complicated concepts to understand, promises to completely change the global financial system. This is why many people ask: How to learn to use bitcoin (BTC) in few steps? How to buy bitcoin the easy way?

Contrary to popular belief, using bitcoin does not require technical knowledge. You don’t need to be a computer genius to make or receive a payment in bitcoins, the cryptocurrency. On the contrary, this method can be easier to use and provides greater security from other forms of exchange that we may be used to.

First step: get informed

This is the official Bitcoin (BTC) logo. Currently, there are many cryptocurrencies similar to bitcoin. Source: Wikipedia.

Resistance to change is something that is innate in human beings. Changing the way we understand and use money can be difficult Awareness is the first step we must take.

That’s why at CryptoNoticias we take on the task of compiling and updating a Encyclopediawhere anyone can start learning about the world of Bitcoin.

In our “Cryptopedia” you will find articles such as:

Like many others.

Step two: Choose a bitcoin wallet

Bitcoin wallet, purse, wallet, whatever you call it, It is the analogue of your bank account. Here you can manage your funds.

When choosing a bitcoin wallet, we can find countless options, where each of them adapts to different user requirements. We can divide them into three categories.

  • A hardware type bitcoin walletThese bitcoin wallets or cold wallets store the private key (mathematical proof that those bitcoins belong only to you) on a separate device. With them you can sign transactions (send BTC to another person) without connecting to the Internet. This makes it one of the most secure bitcoin wallets. Some examples are:

Hardware wallets are devices that connect to a computer only when funds are sent. Source: Pinterest.

  • Wallet de bitcoin tipo App (software): These are applications that you can install directly on your mobile device or computer. In this case, the private key is stored and encrypted inside the device itself, on which the application is installed. Some examples are:

These are some of the bitcoin wallets you can find in the Google Play Store. Source: Google.

  • Bitcoin web wallets: As their name suggests, they are web services that allow users to manage their funds. On these pages, the private key is managed directly on the web portal. Some examples are:

Blockchain works as a hybrid between a web wallet and a software wallet. Source: Blockchain.com.

If you want to learn more about how to choose a bitcoin wallet, we recommend the following article in our Cryptopedia. Likewise, in the Tutorials section of CriptoNoticias, we have a wide catalog of articles that will teach you how to use different cryptocurrency wallets.

Tips for choosing a bitcoin wallet

The wallet you choose must fit your daily life. Whether you use bitcoin frequently or simply use this cryptocurrency as a means of saving. Here are some tips to help you take steps to use bitcoins:

  • You can use different wallets and each of them have desired amounts, there is no limit.
  • Consider segregating funds based on usage. You can keep small amounts in your phone wallet for your daily expenses, and to secure large amounts, such as your savings, you can consider investing in a hardware wallet.
  • There are wallets that work for all operating systems, such as Coinomi, which allows you to be in control of your bitcoins, with the same wallet, on any device.
  • Ask, don’t ask. It doesn’t hurt to ask someone with experience in cryptocurrency wallets for their opinion.

Step Three: Configure your wallet

When you use a bitcoin wallet, you are responsible for its security. Protect the mobile device or computer where you use the wallet and recovery keywords (or seed). Keep these tips in mind:

Wallets like Bitpay allow you to customize various aspects of the wallet that improve the user experience. Source: Bitpay.

  • If your wallet uses a recovery seed, preferably write it down on paper and store it in a safe, moisture-free place where only you can access it. This step is vital to preserve funds..
  • Some apps allow you to activate an additional layer of security, using a password or fingerprint scan. Remember that this method is not related to the recovery seed at all.

Other aspects to explore in your portfolio:

  • If you allow modification of the mining commission, You can decide how much to pay at the time of shipping. The higher the commission payment, the faster your transaction will be confirmed.
  • Set the national currency in which the amounts will be displayed, be it dollars, euros, pesos, etc. The final value of the exchange between bitcoin and the selected currency will depend on the exchange that uses the wallet as a reference.

Step Four: aarrests for receiving bitcoins

Receiving bitcoins is a simple task, all you need to do is share the public address that will be generated by your wallet. Find the button Rto receive and you will find something like what is shown in the image below:

Screen for receiving funds in bitcoin wallet; displays the public address and associated QR. Source: Coinomi.

A character string matches public address. A QR code corresponds to its abstraction in this format, so it can be scanned using the device’s camera.

Bitcoin addresses can be found in 3 formats.

  • Legacy addresses (the first in the protocol), starting with “1”, like the one we see in the previous image.
  • Compatibility and multi-signature addresses, starting with “3” and maintaining the same format as the old ones:
  • Source Segwit addresses (protocol update), starting with “bc1”:

Whichever address your wallet uses, they all serve the same function: to receive transactions.

It is important to pay attention Addresses are unique and only you, through your wallet, can generate them. Unless you know what you’re doing, you shouldn’t share bitcoin receiving addresses that don’t belong to you or that you didn’t generate directly.

Tip: every time you must receive generate a new address, if your wallet allows it (some do it automatically). This way you’ll give all your assets a layer of privacy.

Quinto step: buy bitcoins

Maybe when buying you say to yourself “I don’t have enough to buy 1 BTC”. Don’t worry, it is not necessary to buy a complete unit. Bitcoin can be split up to 100 million times, where 0.00000001 is the minimum amount of BTC you can have. So buying a few dollars or pesos will not be a problem for you.

See where you can buy bitcoin in every Latin American country and in Spain:

Check out our guides at where to buy bitcoin via P2P exchange, cryptocurrency exchange or ATM in countries such as Venezuela, Mexico, Panama, Chile, the Dominican Republic and each of the Latin American and Central American countries.

Bitcoin ATMs are a way to buy and sell this digital currency. Source: CoinATMradar.

Keep in mind value of commissions when making a buying bitcoins or when withdrawing funds from the exchange to your wallet, as they can significantly affect the final amount of the transaction.

Send bitcoin to your wallet

Many of these platforms allow you to buy bitcoins, and when the purchase is made, they reflect the total balance you have in BTC. The next task is to draw them and deposit them in the wallet of your choice. This is because the purchased funds are stored in wallets whose private keys are managed by the platform where we received the BTC; which means, in short, that we do not own our money.

So, all you need to do is look for the withdrawal option within the platform, where later you will have to enter the public address and that’s it. All you need to do is wait for confirmations from the Bitcoin network to see your wallet balance and control your money.

Sixth step: usar tus bitcoins

You already have your cryptocurrencies in your wallet, ready and secure. What other steps do you need to take to use bitcoin?

The first thing you need is learn how to send los bitcoins from our portfolio. To do this, look for the option Send into your wallet, and once in the send section, paste or scan the recipient’s public address, whether it’s the address of a friend we work with or a business we’ve decided to buy something from.

Many wallets allow you to modify the mining fee at the time of submission. Source: Green purse.

Now you need to enter the following information:

  • amount: It can be expressed in both BTC and configured national currency.
  • Commission: In many wallets, it is possible to choose a commission for the execution of the transaction, which will affect the waiting time for the funds to be available.

Now we just need to press “Send” and that’s it.

Sites where you can use bitcoin

Pages such as Coinmap They show you the location, on a virtual map, of all the shops around you (and in the world) that accept cryptocurrencies as a form of payment.

Likewise, he emphasizes BTCpay directorya directory of brick-and-mortar or online merchants that use bitcoin as a form of payment and where you can filter business searches by different categories.

These are some of the gift cards you can buy with bitcoins. Source: Bitrefill.

However, the use of bitcoin does not stop there, as portals like Bitrefill allow the purchase of gift cards for use on Amazon, Walmart, Ebay, Google Play, PS Store, among others. It allows us to use Bitcoin as a form of payment, although these platforms do not accept cryptocurrencies.

Conclusion

At this point you can consider yourself usuario de Bitcoin, un bitcoiner. But this is just the beginning, and if you want to dive deeper into this world, you can find many interesting things that will help you take more steps to use bitcoins, such as using instant bitcoin payments through the Lightning network. So, if you’re curious, don’t hesitate to consult Cryptopedia or the Tutorials section to learn more about bitcoins, blockchains, and cryptocurrencies. Welcome to the future!

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