The most famous cryptocurrency is the bitcoin, it is a new method of using your money over the internet and for the transaction you do not need to have any account with the bank. By hearing the word bitcoin you might be thinking that it is a coin through which you do trading, but in fact you cannot even hold the bitcoin. Without holding it you can do transactions all over the world through online, are you searching how to use bitcoin faucet than let follow the below mentioned steps.
- Open bitcoin wallet: A bitcoin wallet is the online centre where you can buy or sell bitcoins. There are different types of bitcoin wallets like software wallet and hosted wallet. But we are only concern about the hosted wallets, what are hosted wallets? It is a third party company with whom you will keep all you bitcoins they will take care of the storage and the safety. If wecompare the software wallet and the hosted wallet the software wallet is like keeping all you your money in a closed box and hosted wallet is like a bank where we keep our regular money.
- A bit coin wallet is similar to something like pay pal which you use for regular money. Through the card or bank you load the pay pal wallet and use it for different types of transactions. In this case you will load the money which will get converted to the bitcoins and then you use it for transactions. To create an account it is same like other accounts, you need to search for the best third party vendor and then follow all the instructions provided by them and complete the account creation.
- Once your account is created the first thing you need to do is to deposit some amount of money and then buy the bitcoins. One thing you need to keep in mind that the rate of bitcoins change regularly, so make sure you clearly check the rate when you buying the bitcoins.
- After depositing the bitcoins into your account you are all ready to use your account for any type of transaction, only condition is that they seller should accept the bitcoins. You can also play online games using the bitcoins but need to deposit some bitcoins before you start playing games.
Conclusion
Hope this information will be helpful to start using the bitcoin wallet.
