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The best way to understand about bitcoin, is to jump in and get several in your "pocket" to get a feel for how they work.
Despite the hype about how difficult and dangerous it is usually, getting bitcoins is easier and safer than you may think. In a lot of ways, it really is probably easier than opening an account at a traditional bank. And, given what has been happening in the bank operating system, it is probably safer too.
There are a few what to learn: getting and utilizing a software wallet, learning how to send and receive money, learning how to buy bitcoin from the person or an exchange.
Preparation
Before getting started, you will need to get yourself a wallet. You can do this easily enough by registering with among the exchanges that may host wallet for you. And, although I think you are likely to want to have a number of exchange wallets eventually, you should start with one all on your own computer both to acquire a better feel for bitcoin and as the exchanges remain experimental themselves. When we get to that stage of the discussion, I am advising that you will get in the habit of moving your cash and coins off the exchanges or diversifying across exchanges to help keep your money safe.
What is a wallet?
It is a solution to store your bitcoins. Specifically, it is software that has been made to store bitcoin. It could be run on your desktop computer, laptop, mobile device (except, as yet, Apple) and can also be produced to store bitcoins on things like thumb drives. In case you are worried about being hacked, then that is a great option. Even the Winklevoss* twins, who've millions committed to bitcoin, put their investment on hard disks which they then put into a safety deposit box.
*The Winklevoss twins will be the ones who originally had the idea for a social networking 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 initial bitcoin wallet, or client, in Windows or Mac format. They are not just wallets, but are in fact part of the bitcoin network. They will receive, store, and send your bitcoins. You can create one or more addresses with a click (an address is a number that appears like this: 1LyFcQatbg4BvT9gGTz6VdqqHKpPn5QBuk). You will notice a field where you can copy and paste lots like this from the person you would like to send money to and off it will go straight into that person's wallet. You may also create a QR code that will let someone take 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 and as area of the bitcoin system. The reason bitcoin works is that each transaction is broadcast and recorded as a number across 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 personal wallet and also as a support for that system. Therefore, be aware that it will require up 8-9 gigabytes of one's computer's memory. After you install the wallet, it will take as much as a day for the wallet to sync with the network. This is normal, does not harm your personal computer, and makes the system as a whole more secure, so it's advisable.
Bitcoin Qt
The original wallet.
It is a full-featured wallet: create multiple addresses to get bitcoins, send bitcoins easily, track transactions, and back up your wallet.
Outside of the time it requires to sync, this is a very easy to use option.
Seek out Bitcoin Qt wallet download to find their site.
Armory
Runs on top of Bitcoi Qt, so that it has each of the same syncing requirements.
Armory enables you to back up, encrypt, and the ability to store your bitcoins off line.
Search for Bitcoin Armory Wallet to find their site.
Offline bitcoin wallet If you don't want that much memory used or don't desire to await your wallet to sync, there are good wallets that do not make you sync the complete history of bitcocin:
Multibit
A lightweight wallet that syncs quickly. This is very good for new users.
Seek out Bitcoin Multibit Wallet to get their site.
Electum
In addition to being quick and light, this wallet allows you to recover lost data utilizing a passcode.
Seek out Bitcoin Electum Wallet to find their site.
After you obtain the wallet set up, take a few minutes clicking around. Things to look for:
o There will be a full page that shows you just how many bitcoins are in your wallet. Take into account that bitcoins can be broken up into smaller pieces, so you may see a decimal with plenty of zeros after it. (Interesting note, 0.00000001 is one Satoshi, named after the pseudonymous creator of bitcoin).
Read More: https://paperwalletbitcoin.com/
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