How to buy and sell using Bitcoin
Over the past couple of years, Bitcoin has made the headlines. And Bitcoin has had its fair share of scandal too.
Yet Bitcoin may be mapping out a future for digital currencies.
If you fancy buying goods with them or even receiving Bitcoin for services you've provided, how do you do it?
Read on to find out…
How you can get your hands on Bitcoin
There are three ways you can own Bitcoin
Mine them; or
Sell goods or services in exchange for Bitcoin.
Mining Bitcoin is not worth the effort, the computer power required or the investment to bother about, so that leaves you with options one and three.
If you want to buy them, or be in a position to receive Bitcoin, here is what you need to do, Dominic Frisby in Money Week
Get a Bitcoin wallet
How to buy and sell with Bitcoin
This is a very easy thing to do. Just visit coinbase.com
or BitX South Africa
To create your wallet, all you need to do is enter your email address and a password and you’ve done it. You’ll get an address for your wallet. Note this down.
Visit a site like BitX South Africa
and paste in your Bitcoin wallet address where it asks for your Bitcoin address.
Buy a small amount of Bitcoin.
Use your Bitcoin
If you have a friend who also has a Bitcoin wallet, you can practise sending and receiving money from each other.
You can use them to pay for goods that accept Bitcoin payment, such as vendors using PayFast.
To receive Bitcoin for services or goods you supply, you just need to give the person paying you your Bitcoin wallet address.
So there you have it. How to buy and sell using Bitcoin.
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