Candi G. (Dancer at Cheetahs)
It’s so fun! I love the pokies.
Every time there’s a big evolutionary step, it takes us humans a while to figure out if we like it, if we trust it, if it’s a good idea, or even if we understand it. Bitcoin is one of those advancements that have an equal amount of people screaming from the rooftops about how amazing this new cryptocurrency is, and others scratching their heads asking – Why do we need it? How do we use it? As well as the most common question, what on Earth even are Bitcoins?!
To clear up a few of the basics, I thought I’d answer some of the main frequently asked questions in my own words. I’m not an expert in this department by any means, but if I got my head around how this new currency works, then you guys definitely can as well.
Bitcoin – What are the advantages?
Bitcoin allows users to be completely in control of their money, 24 hours a day, anywhere in the world, with no bureaucracy. With zero fees to receive Bitcoins, and an easy way to choose the amount you’re charged when spending, Bitcoins offer the cheapest way to buy and spend. Plus, with no sensitive information given out on any transaction, fraud is basically impossible, and because Bitcoin users are in full control of each of their transactions, unwanted charges that other payment methods such as Paypal and credit cards incur, are also a thing of the past.
How do I put money in my Bitcoin wallet?
Your money is held in an online wallet that’s easily accessible from your phone, laptop or desktop, so spending is always only a touch of the finger away. But how do you put your money in the wallet?
Bitcoin can be purchased easily from Bitcoin exchanges, from Bitcoin marketplaces or directly from anyone that has Bitcoin to sell. Once you’ve set up your wallet (this only took me a few minutes), the buying process is just as quick and easy. The only thing to keep an eye on is that you’re buying from an accredited exchange. There are thousands to choose from, so just make sure to read some reviews before you pull the trigger. Once you’ve found one you like, you can easily stick with that, or shop around to see what’s new in the community.
How do I withdraw money from my Bitcoin wallet?
Once you’ve set yourself up and are happily buying, selling and spending Bitcoins, you will of course occasionally want to withdraw your savings, profits or winnings to spend in the real world. This is no problem at all, and even simpler than putting them in. Whilst all wallets will obviously look slightly different, every one that I’ve seen is very simple to use, and the withdraw button should be clearly marked. Once you’ve linked the wallet to your bank, credit or debit card, withdrawing is a breeze. Plus, if you happen to come across a Bitcoin ATM, then you can get your cold hard cash directly into your hand.
It really is that easy, and once you’re set up, you’ll only have to log in to your wallet with your touch ID and you’ll be good to go. You can spend them almost anywhere these days, and of course we accept them at Joe Fortune, so get yourself a free Bitcoin wallet today and see what all the fuss is about.