Tell me about bitcoin

[Ephrey]

Howdy,

So recently Paypal started to be a pain in the ass so I wanted to start using BTC, never used It, and its something I never thought I'll need

So I wanted to ask what are the best wallets for the BTC if it works in that way, any explanation on how to use it would be really appreciated.
How the transfers work and all that stuff.

Well thanks in advance for taking your time on something like this

- Ephrey

 

[Blaze.]

Howdy,

So recently Paypal started to be a pain in the ass so I wanted to start using BTC, never used It, and its something I never thought I'll need

So I wanted to ask what are the best wallets for the BTC if it works in that way, any explanation on how to use it would be really appreciated.
How the transfers work and all that stuff.

Well thanks in advance for taking your time on something like this

- Ephrey

The best wallets in my opinion are Blockchain, Exodus, or Coinbase.

BTC isn't always instant, it usually has to go through multiple confirmation phases before it gets sent to you/you send it to others and you can track it using 3rd party websites. (can't remember any of the top of my head) Usually takes 10-20m but can last multiple hours, and even days if you're really that unlucky.

BTC is like a stock. The price for one bitcoin can go down or up. Recently, it's gone up a shit ton, but it'll go back down over time. The more it goes up = the more money you personally get. If it goes down or even crashes, you'll lose money.

The pros to BTC is that you can't be charged back on, but the cons are that it's never going to be stable and that not everywhere accepts BTC.

Good luck!

 

[Ephrey]

The best wallets in my opinion are Blockchain, Exodus, or Coinbase.

BTC isn't always instant, it usually has to go through multiple confirmation phases before it gets sent to you/you send it to others and you can track it using 3rd party websites. (can't remember any of the top of my head) Usually takes 10-20m but can last multiple hours., and even days if you're really that unlucky.

BTC is like a stock. The price for one bitcoin can go down or up. Recently, it's gone up a shit ton, but it'll go back down over time. The more it goes up = the more money you personally get. If it goes down or even crashes, you'll lose money.

The pros to BTC is that you can't be charged back on, but the cons are that it's never going to be stable and that not everywhere accepts BTC.

Good luck!

Thanks for the kind explanation.
One question, do I need to buy a BTC (like a stock) to use a wallet, or I can just create an account and start using it?

 

[Blaze.]

Thanks for the kind explanation.
One question, do I need to buy a BTC (like a stock) to use a wallet, or I can just create an account and start using it?

You make a wallet first, then you can start buying bitcoin directly from that wallet or from other people. (or at least that's how it works with the wallet I use) Some wallets require ID though.

 

[Ephrey]

You make a wallet first, then you can start buying bitcoin directly from that wallet or from other people. (or at least that's how it works with the wallet I use) Some wallets require ID though.

Oh okay, thank you so much!

 

[SkapDoesMC]

Requires no id or address verification to send or receive (if using blockchain).

On added bonus, you can be like a whole day old and still can get Bitcoin.