Bitcoin basics

Bitcoin (BTC) is a cryptocurrency. From a users perspective, Bitcoin is essentially cash for the internet and it is the simplest way to deposit and withdraw your funds.

To get started you will need:

1. A digital wallet – A digital wallet for accessing your cryptocurrency. A wallet will allow you to transact with anyone, anywhere in the world. We have provided a list of our top recommendations. Millions of people use cryptocurrency wallets, but there is considerable misunderstanding about how they work. Unlike traditional ‘pocket’ wallets, digital wallets don’t store currency. In fact, currencies don’t get stored in any single location or exist anywhere in any physical form. All that exists are records of transactions stored on the blockchain.

2. A place to buy cryptocurrency – Once you have a wallet setup you will need a way to buy cryptocurrency. If you are not using a wallet with a built-in fiat option (a way to buy and sell using your credit/debit card or bank transfer) there are number of options. Once purchased you can transfer your cryptocurrency to your personal wallet.

3. Important Security Information :

  • Get a recommended wallet
  • Backup your wallet and secure your backup phrase
  • Enable Password Protection (Wallets) or Two-Factor Authentication (Web Wallets & Exchanges)