Bitcoin is now accepted on so many useful sites for payments like Fiverr.com, Overstock.com, TigerDirect.com and so on. Because most of these sites ask for PayPal or Credit Card, users from countries banned by PayPal can now use Bitcoin to pay them without those companies rejecting their payments.
What is Bitcoin?
Bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of Bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
You can download Bitcoin software from https://Bitcoin.org but that will consume lots internet bandwidth to update to the latest transaction.
So, as e-payment experts, we will recommend you use third-party wallet like Coinbase.com, Bitgo.com, Blockchain.info, Btc-e.com, etc. to avoid the high bandwidth consumption of Bitcoin software during updates.
How To Create A Bitcoin Account Through Coinbase
Here are the steps to take:
1. Click HERE to get to Coinbase website.
2. When you get there, click on Sign Up button.
3. Type your email and a sophisticated password you want to use to access your account. Then, click on Create an Account tab.
4. After clicking on Create an Account tab, go to your email for a verification email. Open it and click on the link you will see or Verify My Email Address link.
5. When you click on the link, you will be taken to agreement page. If you agree to their terms, type your names and click on Accept tab.
6. You can now create your personal payment page, add your phone number and have it verified for account security. The page to do it will pop-up after clicking on Accept tab.
7. When you add your phone number, click on Next tab and an sms will be sent to you. If you want to be using mobile phone to control your Coinbase account, then install the app they showed you through the sms you got. If you want to use it on your personal computer like us, then click on text message in the “You can also request a text message or phone call if you don’t have a smart phone.” you will see. NOTE: if you can’t receive sms, you can request for phone call.
8. Insert the 7 digit code you will receive and click on Verify Phone Number tab.
9. You’re partially done for now. Do head straight to Account tab and click on it.
10. You will see My Wallet. You can change it to anything you want. Do click on Rename by the right hand side. Insert any name you want to change My Wallet to something else you preferred.
11. You can also get the Bitcoin address to all the Wallets you created by clicking on Get Bitcoin Address at the end of the Wallet. You can also create as many Wallets as you want by clicking on + New Account.
12. What you have done is the basics and can handle some limited amounts of transactions per day. So, to get to a much higher account, you need to add a US bank account. If you need a bank account for verification ONLY, click HERE to buy Virtual US Bank account. It will help you verify it to handle like $3000 worth of Bitcoin transactions per day.
13. To know what and how to verify, click on Verifications tab in your account. However, you can still be using your account without verification on limited basis.
How To Fund Your Bitcoin Account
User A can send Bitcoin to User B through his or her email address registered on Coinbase provided both are using Coinbase.
However, if User A is using Bitcoin software or another third-party Bitcoin Wallet like Bitgo.com, he cannot send Bitcoin using email address to User B who is a Coinbase member. S/he has to use Bitcoin address instead. Bitcoin address is like this: 1GmYPaWgDbRNJLudNS9ox9nExDEpEvm9yH
So, in Coinbase, to get your Bitcoin Address or Account Number as case maybe for funding, do login to your account, click on Settings tab, then on Bitcoin Addresses tab and you will see it.
You can also, create more Bitcoin Addresses by clicking on + Create New Address tab. This is the address you give to exchangers like us, friends, clients, etc to fund. But if the exchanger or friends or clients uses Coinbase, just give them the email address you registered on their site. It will go through.
How To Send Bitcoin Out
1. Login to your Coinbase account and you will see Send Money and Receive Money tabs.
2. Click on Send Money tab, insert the Bitcoin address, amount either in USD or BTC and click on Send Money.
Thought we have showed some of things you need to know. In case you have some questions, click HERE to write or call us.
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