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Want to give Bitcoin a try? Here's how you can do it…

by , 30 January 2015

The world of Bitcoin hit the headlines last year. Its price was a big talking point as well as some scandal.

This year, the price of Bitcoin remains down after tumbling over 60% last year. But this also means that you can get your hands on Bitcoin for a lot less than you previously could.

The potential for Bitcoin and its technology is vast. It's just going to take time for more people to use it and for it to become more mainstream.

So if you want to use Bitcoin, how can you get started?

Read on to find out…

The future for Bitcoin

Whilst no-one knows for certain what the future holds for Bitcoin, the advantages of the digital currency are vast.

It’s a way to hold money and pay for goods and services without the need of a bank.

And the technology that forms the basis of Bitcoin is leading lots of exciting developments that will also lead to changes in the way we do things in the future.

So if you want to take advantage of the lower price of Bitcoin, here’s how you can use them…

How to use Bitcoin

The first thing you need to do it get yourself a Bitcoin wallet. Your best starting place is either Blockchain or Coinbase. Or South African Bitcoin app BitX. To obtain a wallet, all you need to an email address and a password.

Once you provide this, you’ll get your wallet address. Copy this.

The next step is then depositing some money into your Bitcoin wallet. When you do this, you’ll be asked for you Bitcoin address, so you just need to paste in the address of your Bitcoin wallet.

If you get a friend to do the same, you can practice sending each other money. You could also try spending your Bitcoin with one of the many South African vendors who accept PayFast.

It’s as easy as that.

So there you have it, how you can give Bitcoin a try.

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Want to give Bitcoin a try? Here's how you can do it…
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