First-time buyers guide
This is a guide on how to make your first purchase with Bitcoin without any prior knowledge of the subject.
This guide does not go into detail explaining what Bitcoin is or isn't. Most information not necessary for making a purchase are avoided. Similarly, more complicated ways of getting bitcoins are also avoided in order not to confuse further.
Step one - What is Bitcoin?
Bitcoin is a new form of internet currency. It allows for person-to-person payments that don't go through a third party.
Step two - get yourself an Address
What are Addresses?
Bitcoin payments operate like bank transfers. Each person has their own "account", called a Bitcoin Address. An address looks like this:
A person can have as many Addresses as they wish and store them together in an electronic Wallet. So lets get you your first Address!
You can get an Address in a very easy way by registering for a Wallet at one of the following sites:
- https://blockchain.info/wallet/new - input a password and a captcha, follow the given URL (note - save it! If you lose it, you lose your funds) and you will find your Address in big letters on the left middle side of the site.
- https://easywallet.org - just go there and you will be redirected to your new wallet. Save the URL, if you lose it, you will lose your funds
- https://www.zenwallet.org - just go there and you will be redirected to your new wallet. Save the URL, if you lose it, you will lose your funds
- https://www.instawallet.org - just go there and you will be redirected to your new wallet. Save the URL, if you lose it, you will lose your funds
I have the Address, what do I need it for?
Well, an Address is like a bank account - before you can spend any money, you need to put some money in. You can use your Address to store more funds than you need for just one purchase, so you won't have to do the following steps each time you want to buy something.
Step three - geting some bitcoins
As Bitcoin is a form of currency, it costs money. The easiest ways to get bitcoins are:
- https://www.bitinstant.com/ - Go onto the website. Under "Pay to" select "Bitcoin Address", under "Pay from", select your convenient method of purchase. In the table below be sure to input your Bitcoin Address, amount of money you want to convert and so forth. Proceed along with instructions.
Step four - make a payment
I assume you have funds on your Address now. Good!
Find out the payment details
Find out what Address you need to pay your money TO and HOW MUCH you need to pay. It might be as easy as sending 1 bitcoin to 1MauqJEVKx7mohEXXaHXnn96RFvLEGnVjV, or a bit more complicated, as sending 123.12345678 bitcoins to 1MauqJEVKx7mohEXXaHXnn96RFvLEGnVjV. As you most likely will be doing this on your computer, just copy and paste everything.
Send the money
Go to the website you used to get your Address from. Find the location where you can input your recipient's Address and amount and send the payment. It shouldn't be fairly straightforward.