Dakota Graves 100 Report post Posted March 3, 2016 Hello all! I'm a total newbie doing my research before getting my "feet" wet! Does anyone have any advice or recommendations for using bitcoin wallets? I'm not very tech savy and I don't quite understand how it all works. I'd like to throw up a few ads on backpage but I can never find the free ones that are posted. Thanks! Quote Share this post Link to post Share on other sites
backrubman 64800 Report post Posted March 12, 2016 Does anyone have any advice or recommendations for using bitcoin wallets? I'm not very tech savy and I don't quite understand how it all works. I'd like to throw up a few ads on backpage but I can never find the free ones that are posted. There really must be an easier way to pay for ads. Just the same, if you already have some Bit Coins then there is no easier way to pay for anything! Just set up an online wallet at BlockChain.info and be prepared to print the wallet recovery instructions to a printer or a PDF file (for later printing) and save it all on a USB key and put that in a safety deposit box at the bank (or somewhere very safe). I also strongly recommend that you install Google Authenticator on your phone and set up that on your blockchain wallet to keep the thieves out (once the app is installed on your phone you just scan a QR code and then you have a password that changes every 30 seconds). Think up a really good and long password ahead of time as that is used as the encryption key for the contents of your wallet so if you forget your password and don't have your recovery instructions printed, even the folks that run BlockChain.info can't help you as they don't have access to your wallet either. If you print out your wallet's private key and put it in a safe place, it doesn't matter if BlockChain.info goes out of business and disappears forever, all you really need is that secret SHA256 encryption key to be able to spend your bit coins. There is no central bank or authority for Bit Coin so if you loose the wallet recovery instructions you will lose any coins that are in it forever. Make sure to print out a QR code of your wallet address so clients can pay you in bit coin, I've often wished that all ladies would accept Bit Coin as compensation for their time. The transaction takes less than a second and can't be reversed. 1 Quote Share this post Link to post Share on other sites
ChloeSummers 8409 Report post Posted March 14, 2016 Hello! If you have a smartphone download the app Mycelium. Then find a Bitcoin ATM. Take out your money. Go to the Bitcoin ATM. Scan the code on your phone after you insert the money. it's much easier than using online sources. You may be able to find Bitcoin arm locations online. Best, -Chloe Quote Share this post Link to post Share on other sites
roamingguy 300292 Report post Posted March 14, 2016 Just a question out of curiosity. Can Bitcoin be converted back to cash or is it one of those things, once bought, you only use it for goods and services that accept it RG Quote Share this post Link to post Share on other sites
Dunstan Ramsay 1882 Report post Posted March 14, 2016 At a Bitcoin ATM, you can buy Bitcoins and convert Bitcoins back to cash. 1 Quote Share this post Link to post Share on other sites
backrubman 64800 Report post Posted March 19, 2016 I always have lots of BitCoin around (most of it in "cold" storage). If someone wanted some (with the least amount of difficulty) they could simply send an INTERAC e-Transfer to their own email, then cut and paste the deposit email that they then get into a PM message to me here along with sending me their BTC wallet address (it can only be used for deposits) and I would send them the equivalent amount in BitCoin at the current and fair exchange rate once I got their money. Two cautions: (1) First you need to PM me and let me know how much you want and verify that I am around (in Canada) or somewhere with good connectivity and I know when it's coming so you don't have to wait for me to discover the request by chance. Sometimes a couple of weeks can go by before I get a chance to log in here, at other times I around every day. (2) You have to trust that once I have your money I'll send you the bit coins as promised :) Anyone that knows me, knows that's not a matter for concern. Interesting thing about this approach... you still wouldn't know my real identity (unless of course you are someone that has met me in person). That's one of the nice things about bit coin, anonymous as you want it to be and no one can control or stop it. Additional Comments: Thats a great idea. Never thought of cut/paste deposit email. xo Yes, as long as you have the unique deposit URL, the password the sender has set and they haven't cancelled the transaction (they can at any time until it's actually deposited), anyone with that information can deposit the money into any account they have access to. I rather suspect that is why a password is used on INTERAC e-mail transfers, as anyone with the substantive contents of the email can deposit the money anywhere, even someone that it wasn't intended for. In the absence of SPs that accept Bit Coin (it will happen someday) I've always found that much easier than dealing with cash. 3 Quote Share this post Link to post Share on other sites
