Bitcoin

Bitcoin Matrix

This is going to be an article all about Bitcoin!

Where everyone can share information and learn about Bitcoin.

Whether you are a complete beginner and have many questions or an advanced pro, I would like to hear your experiences regarding this digital currency in the comment section below the article please.

I will try to update this article often and add as much value as possible.

If you are completely new to the idea of Bitcoin and cryptocurrency, you can watch this introduction video.

BITCOIN INTRO VIDEO


By nature most people seem to get excited about something once they understand it so if you didn’t understand everything in the video, don’t worry about it for now.

If you find Bitcoin interesting you will learn quickly because it really isn’t complicated at all.

If you wondering if there is a difference between “Bitcoin” and “bitcoins” then the answer is yes.

Bitcoin (BTC) is like the currency brand name and bitcoins are the actual digital units (the money). Bitcoin partitions are called Satoshi, named after the supposed creator of Bitcoin, Satoshi Nakamoto… .

1 Satoshi is a hundredth million of a whole bitcoin so it would look like this 0.00000001 = 1 Satoshi.

 

WHERE DO YOU START?


You going to need a wallet, which is like having a digital bank account and you need a wallet address, which is like a bank account number so you can receive Bitcoin payments.

This is a very simple process that will take you 5-10 minutes.

STEP 1

Create a Bitcoin wallet and a wallet address.

Your Wallet Address will look something like this: 183D3jrX2xgyYpTKTGARQ4d9CVpiYvHsEs (Donations are welcome to this address for all our hard work) :Cool:

You can even get the bar-code to scan with a mobile device:

Bitcoin Wallet Address

Bitcoin Wallet Address

Choose one or all of the following wallets but for starters it is best to decide on one. Choose wisely and rather to accumulate your bitcoins on one account. If you experienced and know what you doing you might find it beneficial to pick up another wallet account.

If you live in South Africa choose Luno.

BLOCKCHAIN is probably the most recommended and trusted Bitcoin wallet right now. Low transaction fees (10 000 Satoshi)

COINBASE will also accommodate Ethereum and Litecoin which are alternative cryptocurrencies to Bitcoin and also very well known. Higher transaction fees (1st payment 100 000 Satoshi and 50 000 thereafter). In South Africa you cannot buy or sell Bitcoin, you can only send and receive. I assume that other countries might also have restrictions to only send and receive.

LUNO is especially recommended for South African users and has many benefits like the referral program. For every R500 transaction made through Luno both you and your referral will receive R10 each.

Luno Referral Promotion

Currently these are the 3 wallets I use personally and have not had any issues with.

STEP 2

You might want to research for more wallets if you from a particular country that implements restrictions on Bitcoin and other cryptocurrencies.

Make sure you check if they are safe first! You can use Scam Adviser to do this.

Please remember to ask question below in the comment section if you get stuck or you need help regarding creating a wallet and an address.

If it’s necessary I will find a video on YouTube and embed it here for you.

 

HOW TO GET BITCOINS?


Now that you have a wallet with an address to receive Bitcoin payments it’s time to look at the option you have.

  1. Mining – This involves a rather large investment to either buy your own mining equipment (hardware) or buy into a pool / company who is mining. If you more advanced in this regard you might find this article very interesting. 2017 BITCOIN MINING HARDWARE COMPARISON.
  2. Investing – Buying and holding, hoping it will gain value over a long period of time.
  3. Trading – Buying low and selling high is a very common practice. If you buy Bitcoin at lets say $4000 today and next month it goes down to $3000 don’t panic and sell, wait till it climbs again and sell when it reaches $4500 or $5000. A lot of traders make their profits this way. You can contact me directly if you buying or selling.
  4. Faucets – This is my favorite method of claiming free bitcoins (Satoshi) because it is completely risk free and no investments are required. Read THIS ARTICLE for more information on how to claim free Satoshi daily and develop a strategy for getting active referrals, to build passive income streams from their daily claims as well. THE BITCOIN FAUCET will also provide more information on how to get started with this.
  5. Payment method – Many merchants and distributors are starting to accept Bitcoin as payment. You can provide a service or product and get paid directly in Bitcoin.
  6. Completing Online Jobs – People started accepting payments in Bitcoin on forums, sites like FIVERR for surveys, writing, blogging,
  7. Buying from family or friends instead of strangers! – Rather support family or friends before you buy from a stranger 🙂
  8. Affiliate Programs – Earn by joining referral programs that pay in Bitcoin.
  9. Find more methods – Use forums like BMF to discover more interesting ways of earning Bitcoins. Mr. B (Daniel) pays in BTC for your comments, helpful posts and tutorials!
  10. Gambling – Not recommended but many have made their fortunes playing FREE BITCOIN Auto-Bet system. Don’t bet what you not prepared to loose!

These 10 methods are a good start to get you thinking about Bitcoin and how you could potentially get your share or make a profit.

 

MORE INFO COMING SOON…

1st Update – 22nd August 2017

If you are using the We Love Bitcoin Faucet please note they are not paying their members.

The withdraw verification process works but then when you try and withdraw this message error pops up:

We Love Bitcoin Withdraw Error

They have not paid out for weeks so I have stopped using this faucet.

 

2nd Update – 29th January 2018

Interview with Anthony Patch and Doug Hagmann on the Hagmann & Hagmann report about Bitcoin, Blockchain, Singularity and AI.

ALWAYS KEEP YOUR COINS SAFE!
Ledger Nano Wallet for Bitcoin

 

Please comment below if you have questions, suggestion or any information you would like added to this article.

I will do my best to answer all your questions and help you where possible. :Thumbsup:

Best regards,

Kamil

 

 

 

20 Comments

  1. Don

    Kamil, I have heard a lot about Bitcoins, but I never understood it. Your article is very informative. Are there many sites that allow you to buy products using Bitcoins? Since I am new to this, I bookmarked this page to come back and watch the video.

    All the best to you,
    Don

    Reply
    1. Kamil (Post author)

      Hi Don

      That is a great question and the answer is yes, not only sites but literally ANYONE can accept Bitcoin as payment for any goods or services.
      This is a revolutionary method of trading.

      This will become the preferred method of trading in the future when more trust is developed around Bitcoin and people realize it’s not controlled by any corporation, government or anyone, not even the “inventor” Satoshi Nakamoto, it is completely decentralized.

      Even I accept Bitcoin payments! haha ^^,

      Best regards,
      Kamil

      Reply
  2. tiada

    Thanks for the informative updates, it made me understand the Bitcoin concept easily.
    I look forward to reading more from you on Bitcoin and bitcoins, wallets and Microwallets etc.
    I have just set up my wallet with local Luno here and thinking to mine or claim from Bitcoin faucets and complete online tasks.
    I will definitely check out your recommended Bitcoin faucets.

    Reply
    1. Kamil (Post author)

      Thank you for you interest Tiada.

      There is a lot of information to cover but I will do my best to provide what is relevant and try to explain all the basic aspects one at a time.

      Mining Bitcoin involves some form of investment, if you do it yourself you need to buy the right equipment and if you want to buy into a mining company there will be a minimum payment.

      The safer route will be to claim from faucets until you learn more about mining, I will try add some mining info here asap.

      Regards,
      Kamil

      Reply
  3. tiada

    Thanks for the detailed information on Bitcoin for those newbies like me. I just learned that 1 Bitcoin is equaled to 100 million Satoshi.
    I have set up my local Luno wallet here, will definitely find out more about mining and Bitcoin faucet activities from your recommended link here!
    Looking forward to having more good articles and information from you!

    Reply
    1. Kamil (Post author)

      No problem Tiada 😉

      Will do my best to provide quality information, regular updates and good videos to watch to help us all learn about Bitcoin and other cryptocurrencies.

      Regards,
      Kamil

      Reply
  4. Norman Richards

    Hello and thanks for sharing, your post is well detailed with good information and will be a great help to your readers. first time I have heard of a program like this but it seem to be a good one.

    Reply
    1. Kamil (Post author)

      Hi Norman

      There are many opportunities surrounding Bitcoin and other cryptocurrencies so I will try and provide as many options here as possible for the audience.

      Regards,
      Kamil

      Reply
  5. Johan

    Thanks for adding me. I have invested in mining but am not doing it myself. Great returns. Bitcoin is destined to great heights.

    Reply
    1. Kamil (Post author)

      No problem Johan 😉

      It would be interesting to see the analysis chart of the returns invested in mining, I hear it’s getting harder to solve problems and equations so the equipment always needs to be upgraded or they constantly have to add new hardware to do the same job/task, it can be profitable but also a very expensive operation to do this efficiently.

      Reply
  6. Suresh

    Hi Kamil,
    You have described very well about earning Bitcoins, however making an investment is one of a good choice for earning money on the Internet. I made some money using Faucet programs, but it looks like I’ve made pennies and not a cup of tea.

    Currently the Bitcoin return rates are too good and it’s time to get in them for making decent money.

    Reply
    1. Kamil (Post author)

      Hi Suresh

      Thank you and yes I agree with you that investing is a good way of making money with Bitcoin and probably much faster than the faucets.
      I will be looking into providing reliable sources for investments as soon as I have completed my research.

      For now I have focused on helping people find free and low risk methods for earning their first Satoshi 🙂

      You need to use the faucets to their full potential, like getting a lot of active referrals, this can take time but once you have learned and developed a strategy that works you will have a passive income stream from your faucets and then you can have more time to focus on other things.
      I suggest you read this article, in step 4 there are some methods to get referrals.

      All the best on your online journey!
      Regards,
      Kamil

      Reply
  7. Grace Ann Hernandez

    For Almost a month I’ve been searching for online paying sites and I always encounter ‘bitcoin facts’. Thank you for this very informative video. All questions in my mind are finally answered. It may be hard at first but you’ll truly reap what you saw.

    Reply
    1. Kamil (Post author)

      Hi Grace

      There is a lot to learn about this new exciting industry, there are also some shocking facts and unanswered question but as this technology is stabilized by Blockchain, it creates more trust, curiosity and draws in more investors.

      Everything new can be hard at first and nothing worthwhile is ever easy.

      All the best with your cryptocurrency journey and keep in touch.

      Best regards,
      Kamil

      Reply
      1. Grace Ann Hernandez

        Sure sir.

        While reading such facts it makes me want to learn more about this kind of industry.

        Here in the Philippines, people are too naive for a big opportunity like bitcoins to earn. I’ll surely pass on this informative blog to others.

        Reply
        1. Kamil (Post author)

          Hi Grace

          Bitcoin opportunities will be very helpful in countries like Philippians, here in South Africa a lot of people have gotten out of financial difficulties thanks to the aid of cryptocurrency trading and investment. If you bought even 1 or 2 bitcoins a few years ago for $200 each, they are now worth $4586 each. When you trade US Dollars to our South African currency Rands (ZAR), it is worth nearly R60 000 today!

          Regards,
          Kamil

          Reply
  8. Francine Crispo

    First of all, thanks for discussing further about BTC. I was introduced to bitcoins less than a year ago and i find it easy to use and easy to earn. At fist it was confusing but I am eager to learn so I researched more about it. My bitcoin wallet is from Coins.ph, I already tried faucets, I earned super small amounts but since it’s free i go for it until now. I even tried mining thru coin.ph, at first try, I coverted my 150php to btc and it gained 9 php, lol. After this I said to my self, I think cryptocurrency is a big help especially to a homemaker like me. Now I am working online jobs in exchange for BTC, I have faucet, still mining thru coin but for shot period of time only, I am also participating in paid surveys and web forums just like BMF(Beermoney.com), I wanted to explore making websites in the future too. I think this is the one of the best place to get guided and succeed! Cheers

    Reply
    1. Kamil (Post author)

      Hi Francine

      It sounds like you have had some experience with Bitcoin and it’s interesting that you tried mining. Did you buy the equipment to do this or through a company?

      The best place I know to learn how to make websites is through Wealthy Affiliate, they have a excellent training program (free to join) and a very helpful community with over 800 000 members and online since 2005.

      Wish you all the best on your online journey 😉

      Regards,
      Kamil

      Reply
  9. Express999x

    I tried some bitcoin collecting sites before, I guess 2-3 years ago and I dunno if I’ll regret it for not pursuing it. lol

    It really takes a lot of time and effort to earn bitcoins and I really admire those people who are doing it.

    I think I’ll consider collecting bitcoins again soon.

    I’ll monitor this blog to keep updated regarding bitcoins.

    Thanks for the info regarding bitcoins! Enjoy earning! ^^

    Reply
    1. Kamil (Post author)

      Hi

      Imagine you carried on for those 3 years!
      Back then faucets paid out much more because the price of Bitcoin was much lower. I guess the same thing could happen in the next 3 years.
      You can’t claim alone, you need lots of active referrals.

      Regards,
      Kamil

      Reply

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