Easy to follow guide on using BitCoins / AltCoins to Buy, Sell and Trade.
This section is designed for the average none computer geek to start using Bitcoin / Altcoin as money.
Better understand Bitcoin Terms - visit our Bitcoin Terms.
1. Watch Video (from weusecoins.com )
1. Signup with CoinBase for free - this will get you your Bitcoin wallet and walk you through the basic steps of using bitcoins.
- click on CoinBase and signup, then verify your account by email.
- Buy your first bitcoin from Coinbase or transfer some bitcoin bits from another source.
- Accept bitcoin payments using merchant tools.
Once you have completed these tasks you should have a solid understanding of using CoinBase as an online bank for bitcoins.
Note: currently CoinBase will give you some free Bitcoin (BTC) bits to start you off with using the system - unknown for how long this will last!
2. Signup with a bitcoin exchange for free - advanced option of trading different types of cryptocurrency - recommended Bitcoin exchanges.
- Transfer some bitcoins or altcoins in the bitcoin exchange system
- Purchase bitcoins or altcoins in the bitcoin exchange system
- Wait for bitcoin / altcoin coins to go up in value + sells fees - then offer to sell coins at a profit.
Once you have completed these tasks you should have a solid understanding of using crypto currency (bitcoins / altcoins) as money.
The experience is very much like trading stocks online with all the same benefits and risks.
The basic goal is to buy low and sell high - keep in mind any fees for sell or transfer fees into the exchange from your wallet.
3. Free bitcoins and altcoins - not too much are better than free stuff!
- Use our Free Bitcoin and Altcoin page to get some coins.
- Once you have enough altcoins - transfer the altcoins to the exchange to sell or trade - recommended Bitcoin exchanges.
- Once you have enough bitcoins - transfer the bitcoins to your CoinBase bitcoin wallet to use.
4. Mine for bitcoins and altcoins as hobby or professional.
- Visit our section on Bitcoin Mining for details.