Finance

Bitcoin for Beginners: How to Use and Shop With Bitcoin

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Did you know that 14% of America’s population owns cryptocurrency and 13% intend to buy some in the next year? You might’ve heard about the craze surrounding Bitcoin, Ethereum, and even Dogecoin, and you’re curious about getting in on the action.

As expected, using Bitcoin is a bit more complicated than using cash or a debit/credit card. But it’s not as tough as you think!

Here’s how to use Bitcoin so you can take advantage of this cryptocurrency!

How to Buy and Sell Bitcoin

To start off, you need to know how to buy Bitcoin.

Most people use online exchanges. This means you can log onto your computer and start buying and selling whenever you wish.

You just have to do your research, select an exchange, submit some personal details, then buy with a credit/debit card. Afterward, we suggest storing your Bitcoin in a cryptocurrency wallet for better security.

You can also use Bitcoin ATMs, such as those from ByteFederal. You might be wondering about how to use a Bitcoin ATM. It’s actually quite simple and straightforward; just follow the directions on the screen as you would with a normal ATM.

You can also sell your Bitcoin with either choice. The advantage of using a Bitcoin ATM is the transactions are almost instant and you can get fast cash in hand. So this is always an option if you need money quickly.

How to Use Bitcoin

If you’re a fan of online shopping, then it’ll be easy to use this crypto when it comes to where to use Bitcoin. When you’re checking out, the screen will tell you what payment options you have. If the vendor accepts Bitcoin, you’ll see the little logo on the bottom.

Now the next concern you might have is how to pay with Bitcoin. This is where your crypto wallet comes in.

You’ll have to generate either an alphanumeric or QR code. From there, you can enter or scan the code and the Bitcoin will come out of your wallet. Easy!

You can also pay for things in brick-and-mortar stores, as more and more businesses are starting to accept crypto as a payment option.

Your crypto wallet will most likely be available in smartphone app form. So all you’ll have to do is open the app and then scan the QR code the cashier displays. You can then confirm the transaction and you’re done!

Know How to Use Bitcoin Smartly

Now that you know how to use Bitcoin, plus how to purchase and sell it, it’s time to get started on cryptocurrency. Considering that many believe crypto is the way forward and that it’ll either become as mainstream as fiat currency, or even replace it, this is some valuable knowledge to have!

So keep up with the times and learn how to use bitcoin and other cryptos. It’ll be time well spent!

Want to learn more about cryptocurrencies? Then check out our blog page now!