Bitcoin Fanatic

The simplest way to understand about bitcoin, would be to jump in and get a few in your "pocket" to get a feel for how they work.

Despite the hype about how difficult and dangerous it could be, getting bitcoins is a lot easier and safer than you may think. In plenty of ways, it's probably easier than opening an account at a conventional bank. And, given what's been happening in the banking system, it's probably safer too.

There are certainly a few things to understand: getting and using a software wallet, learning how to send and receive money, learning how to get bitcoin from the person or an exchange.

Preparation

Before starting, you will need to get hold of a wallet. You certainly can do this easily enough by registering with among the exchanges that'll host wallet for you. And, although I do believe you are likely to want a number of exchange wallets eventually, you should start with one on your own computer both to get a better feel for bitcoin and since the exchanges are still experimental themselves. Whenever we get to that stage of the discussion, I is likely to be advising 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 budget?

It's a method to store your bitcoins. Specifically, it's software that has been designed to store bitcoin. It may be run on your pc, laptop, mobile device (except, up to now, Apple) and can also be built to store bitcoins on things such as thumb drives. If you are concerned about being hacked, then that is an excellent option. Even the Winklevoss* twins, who've millions invested in bitcoin, put their investment on hard disks which then they put in a safety deposit box.

*The Winklevoss twins are the ones who originally had the theory for a cultural networking site that became Facebook. They hired Mark Zuckerberg who took their idea as his own and became immensely rich.

What do you really need to learn about having a bitcoin wallet on your computer?

Below you can download the first bitcoin wallet, or client, in Windows or Mac format. These are not merely wallets, but are in fact area of the bitcoin network. They will receive, store, and send your bitcoins. You can cause a number of addresses with a click (an address is lots that looks such as this: 1LyFcQatbg4BvT9gGTz6VdqqHKpPn5QBuk). You might find an area where you are able to copy and paste lots such as this from the person you wish to send money to and off it should go directly into that person's wallet. You may also produce a QR code that'll let someone have a picture by having an app on their phone and give you some bitcoin. It's perfectly safe to offer these out - the address and QR code are both for my donations page. Feel free to donate!