Getting into the Bitcoin world is by default easy and it doesn’t have to cost you anything. All you need to do to get started is to install a cryptocurrency wallet and load it with some digital cash. The growing crypto community, always enthusiastic about accepting new members, has done a lot to make sure you can take these first steps at no expense.
Also read: Crypto-Based Commerce Spikes 65% in 7 Months
Get a Free Crypto Wallet First
To start with Bitcoin you don’t need to be ultra tech savvy but having a basic idea of how cryptocurrency works and what it brings to the world is not a bad idea. There’s a ton of information out there and simple guides such as those prepared by Bitcoin.com will quickly convince you that no matter who you are, Bitcoin is for you. Learning how to buy and sell, send and receive, exchange and protect your cryptos takes little effort and is fun.
What you really need to begin your endeavor into discovering financial freedom is a digital wallet that supports your favorite cryptocurrency. Luckily, there are plenty of free clients available and as long as you find one with good reputation in terms of security, you are all set. For example, you can download and install the Bitcon.com wallet app free of charge and manage your bitcoin cash (BCH) and bitcoin core (BTC) holdings in one wallet. Almost 5 million Bitcoin.com wallets have been created so far.
There are different types of wallets you can use. In general, hardware devices such as Ledger and Keepkey provide safer storage for your digital coins. But the utility of software wallets can’t be denied and they are always a good choice for newbies. Software is usually created for more than one operating system. The Bitcoin.com wallet is available as a mobile application for both Android and iOS. And if you are looking for a desktop app, the Badger Wallet is a good option. You can add it to your browser if you are using Chrome or Firefox.
When setting up a bitcoin wallet, it’s important to follow the instructions of the client’s developers. During the installation process you’ll be asked to write down a mnemonic seed phrase that will help you to restore access to your funds in case something irreversible or irreparable happens to the device you installed it on initially. It’s also smart to set up a pin code to authorize any outgoing transactions. Make sure you record and keep that as well.
Load Your Wallet With Free Coins
Once you’ve installed your wallet you’ll have to load it to start transacting in cryptocurrency. And while there are many options to buy some, acquire it on an exchange or purchase it directly from other bitcoin holders, you can also get it for free. The Bitcoin.com faucet provides you with one such option. All you need to do to receive some bitcoin cash (BCH) is to take three easy steps. First, you have to download and install the Bitcoin.com or the Badger wallet. Then you need to log in with your Google account and finally enter your BCH address to claim your free electronic cash.
Another opportunity to receive some cryptocurrency is through a friendly gesture. Many in the crypto community are excited about spreading adoption and if you look around you’ll probably find a friend who will be happy to send you some satoshis just to get you started. Bitcoin.com Executive Chairman Roger Ver recently announced on Facebook he is giving away $5 worth of BCH to any of his friends in the social network who provides a bitcoin cash address.
If you want to hodl your coins, crypto history has shown that $5 of bitcoin can easily become $5,000 in the future. But there are also many things you could do with them right now. For instance, you can send some satoshis to a friend who wants to try crypto. Thanks to the low fees on the BCH network, often less than a U.S. cent per transaction, that will be easy and cheap even with a very small amount. You can also donate some of the bitcoin cash you got for a noble cause like the one supported by the eat BCH charity.
And as crypto commerce is growing once again this year, you can spend your electronic cash in a variety of other ways. The Bitcoin Cash Map app now lists almost 1,800 brick and mortar stores that will let you pay with BCH. Spending bitcoin with retailers that do not directly accept cryptocurrency is another option thanks to gift cards you can purchase with BCH and BTC. Getting a $5 Dunkin’ Donuts card takes just a few easy steps.
Have you tried crypto yet? How did you get into the Bitcoin world? Tell us in the comments section below.
Images courtesy of Shutterstock.