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Bitcoin Basics 101-Part 5

Invest In Bitcoin And Other Types Of Crypto Currency And Crypto Coins By Joining The Bitclub Network And Markethive

· Bitcoin,BitClub Network,Crypto Currency,Crypto Coins,Markethive

If you want to purchase Bitcoin as an investment and you want to join the BitClub Network Company, so that BitClub can mine Bitcoin and other Crypto Currency on your behalf to grow a stable and increasing investment for you, please Join BitClub Here For Free. Once you join, you will be set up with a free lead account and receive follow up emails detailing how you can create a Bitcoin investment account with The BitClub Network. You can also Join Markethive Social Network For Entrepreneurs Here For Free. For any answers to questions Contact Clyde Thorburn Here.

Author : Bitcoins Basics 101 PDF Ebook by DAVID DODGE and BRIAN DIXON
 

The main difference is that they do routinely work with people in countries other than the United States, making it easy to transfer BTC to foreign currencies. If you're looking for a truly global Bitcoin Exchange, this is a good place to start. Cryptsy – This isn't a pure Bitcoin Exchange. By that we mean that you can trade other cryptocurrencies as well. For example, you can exchange your BTC for LTC (LiteCoins) and vice versa. If your virtual currency investments go beyond Bitcoin, you'll want to check out Cryptsy. BTer – With slow transaction speeds and limits on the size of transactions, this isn't really recommended, but we thought they deserved a spot on the list because they do serve the needs of some people who use Bitcoin. BTC-­China – One of the fastest growing Bitcoin exchanges – according to Wired magazine – is BTC-­China, which has really ramped up their efforts recently. By some accounts, they've overtaken MtGox as the place where most Bitcoin transactions take place on a daily basis. Face to Face / Over the Counter Trades Even though it's a virtual currency, you can still arrange to meet someone in person and conduct a transaction with them. Having said that, finding such people might be difficult. This is where the LocalBitcoins.com website comes into the picture. LocalBitcoins is the main website people use to find people who want to meet face to face to exchange bitcoins for cash or vice versa. The website even allows them to negotiate prices beforehand.
 

Add in an escrow service, and it's one of the easiest and safest places to find someone to exchange bitcoins with locally. No matter the value of the money being exchanged, it's important for you to stay safe. To do this, it's a good idea to always arrange to meet in a public place surrounded by a lot of people. Never agree to go to someone's home, apartment, or a field on the outside of town! In all seriousness, use your common sense when setting up a face to face Bitcoin transaction. Even though you're meeting in the real world, you're still going to need access to your Bitcoin Wallet. Once you have the cash, use the other person's Bitcoin Address to send them the predetermined amount of bitcoins. The good news is that you can use a laptop, tablet or even your smartphone to do this wherever you are as long as you have a WiFi connection. In addition to one on one meetings, many people around the world also have Bitcoin groups that meet in public places in order to exchange Bitcoin for cash and vice versa. Websites like Meetup.com routinely have Bitcoin groups that meet in real life. In some big cities, you may find multiple groups meeting on different days of the month. Additionally, you may find so called "Satoshi Squares" or Bitcoin markets set-­up in public places. It should be noted that in most cases you're going to pay a transaction fee of 5% to 10% (or more) to the seller in exchange for the privacy and immediacy. This is too much for some people, but for others it's just a cost of doing business.
 

Just be sure the local police don't think you're exchanging money for illicit substances! Bitcoin Mining. In the very early days of Bitcoin, this was a reasonable way for an average, everyday person with a little computer knowledge to generate income. However, as more people began to use Bitcoin and realized the potential for making money, large groups of people (including some corporations) were set-­up, effectively locking out individuals who want to mine for bitcoins using a home computer. Here's a look at what you need to get started with Bitcoin Mining. Bitcoin Mining Software -­ While early Bitcoin Clients included the ability to mine for bitcoins, this stopped as dedicated software for Bitcoin Mining was created and released. You'll still need a Bitcoin Wallet to store the bitcoins you collect via mining, but the actual mining software will be separate from the main Bitcoin Client. Bitcoin Mining Hardware -­ As Bitcoin became more popular, people realized that graphics cards in computers were great for doing the complex math needed for Bitcoin mining. Soon, dedicated hardware was created just for mining bitcoins. Software is still needed to run them, but these devices -­ known as ASICs after the type of processor they use -­ are almost a necessity to have enough computing power to be able to successfully mine bitcoins. Another thing to think about is joining a pool or what's known as a Bitcoin Guild. This is a group of people who pool their computing power together in order to solve blocks more quickly.
 

Read more about Bitcoin, The BitClub Network and Markethive.

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