How to use bitcoins for the transaction
If you are dealing with Cryptocurrency,
bitcoin, then your online transaction will be the easiest with our website as
we accept Bitcoin transactions too. We wish to make this a bit informative to all
those who are not aware of bitcoin and want to get a brief knowledge of bitcoin
and their role in an online transaction.
Firstly know what actually
Bitcoins are cryptocurrency or digital
currencies that can be helpful for the transaction through electronic transfers
through your mobile or your computer online. Unlike paper currency or gold the
real value of bitcoin is not assigned or specified by any form but you can
always convert it into hard money and can use them to buy any products or pay
for any services online however, there are fewer people who accept
cryptocurrencies and we are one of them! These bitcoins cannot be transferred
to everyone easily but you need to first install your bitcoin wallet and earn
bitcoins by purchase them or get them from someone or mine new bitcoins.
How can you get access to
Bitcoins can be earned in 3
1. You can earn cryptocurrency,
bitcoins, by selling services and buying the services
- You need to settle your
transactions with those people who deal in bitcoins so you can provide them
services or sell your products in return of bitcoins. There are also other
methods to earn bitcoins. You can also buy the bitcoins online in with cash or
you can also mine the bitcoins which is explained below
- You can buy bitcoins from any
person or an exchange where you can pay using cash or credit or debit cards.
You need to find someone who is trustworthy so that you can use escrow service
which includes coin cola or local bitcoins. Using OTC will require your Id
proof for maintaining KYC and security. You will also need the ID proof of the
other person who is involved in the transaction with you.
2. You can also buy bitcoin
from various exchanges and outlets
- These exchanges or outlets are useful
in selling bitcoins to customers directly; this also has a unique quality where
the online service also help in settling the transactions with the users, that
means it settles the exchange transactions for a meagre fee. In order buy
bitcoins from exchanges and outlets you first need to verify your identity.
Once it is verified you can easily use it for the transaction to buy or sell
Bitcoins or other cryptocurrencies.
- In fact uou can also buy
bitcoin from your nearest bitcoins ATM. These bitcoins are only one directional
for use. This can be either used for trading for cash or can be bought. But the
major problem now a days is that the government has restrictions and regulations
on the installation of the ATM at specific places and you may have a trouble in
finding an ATM near you.
3. Getting Bitcoins by mining
- The third way of getting
Bitcoins is by mining them which is very difficult process and time consuming if you cannot get them through
any of these methods. You will have to solve typical mathematical puzzles about
the history of different transactions or algorithms. In return, you will get
free bitcoins as a reward but you will have to pay a processing fee for the
transaction of these bitcoins. This way of bitcoin collection is not very easy
and it is impossible for most of the people as it’s a very tiring and
Before starting the transaction
know how to set up a bitcoin wallet.
A cryptocurrency, bitcoin wallet is nothing
but the same replica of your day to day wallet where you can store your money online
and you can pay for purchase commodity or services.
Bitcoin wallets are available in different
forms, it can be computer software or hardware or a physical piece of paper.
Where you store your bitcoin to make a transaction in future.
These bitcoins wallets have unique authorisation
keys which need to be used when you have to trade your bitcoin or use your
bitcoins to buy something online.
There are three types of
- The software wallet is
a free digital form of a wallet where you can save your bitcoins in your
device, your computer or your mobile phones. Your transactions become very easy
with the software wallet as you can easily send or receive money on your device
but this is also dangerous as these kind of wallets is susceptible to the
hackers and can be hacked easily and you will easily lose your money.
- Another form of the wallet is
the hosted wallet where
a third party handles your wallet and the entire transactions of buying and
trading are done by the third party. But the most difficult part in this kind
of a setup is to find a trusted party whom you can give your entire details so
that the person can handle all your transactions without defrauding you.
- The last one is the physical wallet or
hard wallet where you can save the
bitcoins in offline mode and this is the safest way to save your bitcoins. This
is the safest form but during transactions, you have to install your bitcoins
in the software and only then you can do the transactions.
Know how to transfer Bitcoins
To send the money through
software wallet to
another wallet, you need to click on the send option of your bitcoins wallet,
you can also choose “trade bitcoins” option. Under trade bitcoins options you
need to enter the receiver’s entire wallet address. You can type it manually or
you can copy paste it to your address and we recommend you to copy and pasting
it as it is long and very confusing. Later you can click on the review option
and audit the details that you have entered and finally send the bitcoins.
You can alsosend it through your paper wallet where
you will be needed to install the paper wallet in the software wallet by either
entering the scanning the QR code or entering unique letter series and then
finally taking the same procedure as you followed in the software wallet
The third method is sending
through your hosted wallet which is similar to sending through your software wallet. In
this method, you will have to alert as many hosted wallet show themselves as
online banks and you need to be really sure as there can be a problem of fake wallets
as these hosted wallets do not have any insurance or they do not assure any
Remember the website where you have hosted your wallet as once it is lost it cannot be retrieved and you will lose all your saved bitcoins which will be a big loss.
How can you get the bitcoin
It is extremely easy to get the bitcoin app
downloaded as you can get this app on your smartphones easily. You just need to
search bitcoin.com wallet in your google play store or the app store or on your
You need to locate the bitcoin app and then
click to “install” or “get” button and it will start installing on your phone.