How to Start Using Bitcoin and Other Currencies

In previous post, we explained this currencies and their mining process. Today we will be using our first bitcoin. First-and relatively only- thing you need a wallet. A wallet is basicly an virtual enviroment where you store your coinz. Each wallet has its own adress, for example one of my wallet's adress is: 1MFdTkbFP52hZvmzPuMBf5t2XjqGg3TJzp.

How to create a wallet?

For wallets, we generally have two options;

Local Wallets

They are stored and operated from your computer. They tend to be safer since they store your coinz in a simple file on your computer, but they can be easily corrupt due to a potential system failure. If you want to use a local wallet, you should backup your wallets regularly, just to be safe.

 Two of widely-used local wallet softwares;

Bitcoin-Qt

MultiBit

Web Wallets

I personally prefer web wallets over the local ones, since you can easily buy bitcoin with linking your bank account and easily send/receive payments, not even mentioning merchandise services for developers. 

Two popular web wallets;

 
 Blockchain
.info                Coinbase  

What about Litecoin and Others?

Unfortunaltely, these popular services dont seem to support altcoins, yet. You have to search for their wallet and storage options.

What I am Using?

I am using Coinbase, since it has a good interface and widely known service. It also has a referral program;

For every friend you invite to Coinbase, we'll send both you and them $5 worth of bitcoin when they complete a buy or sell of at least $100! 

If you want to create a bitcoin wallet; click here to sign-up Coinbase using my referral.

What do you use for storing your coinz?