Step 1 - Inform Yourself
If you're getting started with Bitcoin, there are a few things you should know. Bitcoin lets you exchange money and transact in a different way than you normally do. As such, you should take time to inform yourself before using Bitcoin for any serious transaction. Bitcoin should be treated with the same care as your regular wallet, or even more in some cases. In this article, we will explain you what is Bitcoin and how to use it so you can understand how it works before getting started:
Bitcoin is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight. This means Bitcoin is an digital active out of control from government and bank institutions.
However, Bitcoin is not an official currency. That said, most jurisdictions still require you to pay income, sales, payroll, and capital gains taxes on anything that has value, including bitcoins but you can avoid pay taxes if you use Bitcoin properly by buying Bitcoin anonymously and using an decentralized wallet since some wallets give you full control over your bitcoin. This means no third party can freeze or take away your funds. By this reason is important to understand Bitcoin before getting started, because depending of your intentions with the use of this cryptocurrency you need to follow some steps or others to stay safe and secure.
In this article we will explain how to buy Bitcoin to use it on BITCARDS, but if you have questions related to Bitcoin privacy feel free to ask us anything about it :)
Step 2 - Get a Bitcoin Wallet
Free bitcoin wallets are available for all major operating systems and devices to serve a variety of your needs. For example, you can install an app on your mobile device for everyday use or you can have a wallet only for online payments on your computer. In any case, choosing a wallet is easy and can be done in minutes.
There are several Bitcoin wallets and even some platafforms to buy Bitcoin provide you a wallet but we recommend to use an decentralized wallet like Electrum:
Electrum Wallet
Electrum is free and decentralized so no single entity controls the network since anyone can run an Electrum server to sign and verify transactions in blockchain. Electrum is also Multi-Platform so it can be used on mobile, desktop or with the command line interface. You can download it and install it on just a few minutes.
NOTE: Remember that you can use any Bitcoin wallet. Electrum Wallet is our recommendation but there are other wallets with the same attributes and features.
Step 3 - Get Bitcoin
There are several ways you can buy Bitcoin since Bitcoin ATM's to Bitcoin exchangers and P2P markets so we will explain you the easiest and fastest way to do it. You can buy Bitcoin in any way but there are a lot of sites that require to verify your identity before to buy so we recommend to use a P2P market without KYC. KYC (Know Your Customer) is a guideliness and regulation in financial services that require users to verify their identity before use the services provided but there are several platforms to buy and sell Bitcoin along another cryptocurrencies that don't require KYC to use their services so we will recommend you LocalCoinSwap:
LocalCoinSwap
LocalCoinSwap is a non-custodial cryptocurrency marketplace that allow you to buy Bitcoin and other popular cryptos without KYC using 250+ payment methods. Instant registration. No manual verification wait times, all you need is an email address to get started. LocalCoinSwap also provide you a Bitcoin wallet to use it. Buy Bitcoin in LocalCoinSwap is easy since it's all explain on the platform but if you're getting started with cryptocurrencies world we will explain you how to do it:
1. Register: Create an account on LocalCoinSwap with instant sign-up and get your free Bitcoin wallet.
2. Search Offers: Use the search bar to find the best offers. Use the filters to narrow down the perfect offer.
3. Start a Trade: Once you find the right offer, check the terms. Then start the trade and begin chatting with the seller.
LocalCoinSwap provide you a free Bitcoin wallet so if you want use your coins to buy on BITCARDS you can send funds directly from your LocalCoinSwap to us, but if you want keep your funds safe then transfer the purchased funds to Electrum Wallet because LocalCoinSwap wallets are under control of an third-party.