What is Bitcoin?

What is Bitcoin?
Like paper money and gold before it, bitcoin is a currency that allows parties to exchange value. Unlike its predecessors, bitcoin is digital and decentralized. For the first time in history, people can exchange value without intermediaries which translates to greater control of funds and lower fees.


Why use it?
You use bitcoin for many of the same reasons you opt to send an email, stream a movie, or download a song. It’s faster, cheaper, more secure and immutable. And its uses extend beyond the peer to peer payments. In many places, bitcoin is less volatile than the local currency so some use it to store value while others use it to consume at hundreds of thousands of vendors across the globe and online.

How to Create a Blockchain Wallet

A blockchain wallet is just like your bitcoin bank account. It controls all bitcoin transactions between users.

Interested visitors who are new to bitcoins can go to blockchain and get their bitcoin wallets set up. Visit http://blockchain.info/ and click on Wallet and click on Create Your Wallet, follow the instructions and create your wallet address. Make sure you click on the verification email sent to you to verify your wallet and also save that email because it contains your wallet id (identifier) or save the wallet id instead and keep it handy because you need it each time you have to login to your blockchain account to manage your bitcoins.

After creating the address please login and go to Security Center and get your Security Backup Phrase, Link your Mobile Phone, Enable Two-Step Login either through Google Authenticator or Mobile Phone (this is optional) and Block Tor requests. These help to secure your account, please write down your backup phrase where you will not loose them, you will need to confirm the phrases if you forget your password and you try to reset your password or if you ever have to change your password.

After this, click on 'Receive' to find your wallet address that you will use to receive payments.

There you have it. Join the bitcoin revolution