Beginners Bitcoin Guide

New to Bitcoin?

Bitcoin is a digital currency that’s actually quite straightforward to set up and simple to use. Though it can be daunting at first, it’s really not all that different to using PayPal. Once you’ve successfully made one bitcoin payment you should find it simple and easy to repeat the process.

To get started you have two main options: Either purchase from a registered provider or purchase directly from bitcoin sellers at Local Bitcoins.

We recommend using Local Bitcoins as it is safe and secure and generally there are less restrictions on the amount of Bitcoin you can purchase and also lower levels of verification.

To get started at Local Bitcoins, see:

Follow the step by step guide to first setting up your account (including your bitcoin wallet), and then purchasing bitcoins from others in your area via cash, cash deposit, Western Union transfer, Money Bookers, Skrill etc.

Local Bitcoins is quite similar to eBay; as long as the seller has a good rating and has done a lot of trades, you can be quite certain it is reliable and secure. Also, Local Bitcoins offers a Bitcoin escrow service that holds the funds until the transaction is complete, thereby negating the possibility of fraud.

Once you have purchased bitcoins, to send the desired amount to us you will need to access your secure online Bitcoin wallet. By creating an account with Local Bitcoins you’ll gain access to your ‘wallet’ where you store your bitcoins and make transactions from. Though it’s referred to as a wallet it’s simpler to think of it as a bitcoin bank account where your funds are held.

There are many choices for other free bitcoin wallet apps too, making it easy to make payments directly from your phone or computer.

How to Send Bitcoin:

Rather than use account numbers or email addresses to direct your payment to the right person, bitcoin payments utilise addresses that look like this: 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy. Sending money via your wallet is as simple as choosing an amount (in USD) and inputting the address to send to.

We will send you a unique bitcoin payment code when you are ready to make a purchase. Once you have made the payment please email us to let us know and we will be able to confirm your payment has been received.

* For completing the transaction please only use the Bitcoin payment code. As we generate a unique bitcoin address for each client there is no need to put any other details such as email addresses or notes of any kind.

Using a Bitcoin Exchange

If you’d prefer to use a secure Bitcoin provider, Coinbase is recommended for first time users and is now accessible from many countries:

Other similar options are Cubits (Europe), Bittylicious (UK only) or Coinjar (Australia). You will have to give personal information to prove your identity, and link to your bank account/debit card to have your account verified which can take 2- 7 days.

Once you create an account by registering with your name and email address you’ll gain access to your ‘wallet’ where you store your bitcoins. Though it’s referred to as a wallet it’s simpler to think of it as a bitcoin bank account where your funds are held. If you have a smart phone you will be able to download a free app which makes it easy to make payments from.

Via the app or website you will be able to use your credit/debit card or wire transfer from your bank account to buy bitcoins which you can store in your wallet. You will also have to provide some identity verification and may be limited in how much you can transfer until your account is verified. Once you have chosen your method for payment and completed the verification process you simply decide how much bitcoin you wish to exchange from your local currency into bitcoin.

There are also bitcoin ATM’s that allow you to purchase Bitcoins for cash. Currently there are 555 ATM’s in the USA. A list of ATM sites can be found here. 

If you want to get a better understanding of Bitcoin see here, here, here or here. And if you have any concerns or queries about payments, please send us an email and we’ll be more than happy to assist you.