Good plan. But first,
read. Read only reputable sources. I'll point you in the direction of reputable sources and feel free to ask for explanation/clarification on this:
- [START HERE]
https://bitcoin.org/en/ ... Don't frequent bitcoin.
com, it's associated with a scamcoin called "Bitcoin Cash" that really has nothing to do with Bitcoin beyond plagiarizing the name
-
https://en.bitcoin.it/wiki/Help:FAQ ... This is the Bitcoin wiki; prefer information that you can verify here
-
https://bitcoin.org/en/developer-guide ... This is the Bitcoin developer guide (it's for anyone who is engineering software to conform with the Bitcoin protocol). It is the gold-standard reference for any technical question regarding Bitcoin. Do not settle for 2nd-hand, 3rd-hand, scammy, phishy explanations - check what people say and when you find that they are making claims that disagree with the developer guide, ignore them.
After you've watched some videos and read some articles, then buy some Bitcoin. Buy a small amount ($200 is a good starting value). Use it to actually purchase something (try
purse.io,
Open Bazaar or
spendbitcoins.com). You're going to make mistakes along the way, such as paying too little for a transaction fee, or paying too much, or losing track of a wallet key for the change from a transaction, or whatever. By starting small and actually using Bitcoin, though, you're going to minimize your losses from such mistakes.
Here are some generally useful Bitcoin links:
-
https://cointelegraph.com/
-
https://themerkle.com/
-
https://blockexplorer.com/
-
https://coinmarketcap.com/
-
https://www.btcsatoshi.com/
-
https://www.reddit.com/r/Bitcoin/
Wallet: Software that helps you manage your Bitcoins. Bitcoins stored in a wallet are like cash, this is why it is called a
wallet and not an account. Lose the wallet, the Bitcoins are gone and no one can recover them for you. Lose the key to the wallet, the Bitcoins are gone, no one can recover them for you. And so on.
Exchange: An online website that exchanges BTC:USD (and other currencies). You should not store your Bitcoins with an online exchange - 100's of millions of dollars of assets have been lost and/or embezzled in this way.
One way to obtain Bitcoins is:
- Choose and install a wallet (Electrum is a solid choice)
- Create a Bitcoin address with the wallet software (details omitted)
- Place an online order for Bitcoins with a reputable exchange, providing the Bitcoin address you created as the destination for the funds
- When your order clears, you should see Bitcoins in your wallet software (the amount you purchased, minus fees)
- You now control these coins unconditionally - the exchange cannot take them back
You can purchase Bitcoins face-to-face through
local sellers.
Watch out for scams. Check the https in your web-browser wherever you go (green lock to the left of the web address). Cross-check any unclear information with the golden references I gave you above. Bitcoins are like cash, treat them that way.
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