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How do Bitcoins Work?
Bitcoins are very similar to the Stock Market in that their Value changes everyday. Say you buy 1 BTC (bitcoin). Today that BTC might be worth 75 Dollars. In a few weeks or days that value could drop (which you don't want) or the value could increase (what you do want!). Say it increases to 80 dollars in a day. In just one day you would have made 5 dollars. That might not seem like a lot, however if you have 20 BTC. That would be a profit of 100 dollars (20x5).
That's how it works!
How do you GET Bitcoins?
There are many ways. However I broke them down in to two categories
1. The Free way :)
and
2. The not Free way :(
I will explain the free way first because most people will do it this way
----I will be putting a list of all the sites further below... I suggest you keep reading however----
-There are many sites out there that will just give you BTC's just for being on their site. They do this because they usually have ads on their site, and when you see them, they get money!
These sites will be labeled below with (Visit)
-There are also sites that will give you slightly higher payout for clicking ads or watching videos. These sites is be labeled below with (Tasks)
-There are very high payout sites called "faucet sites" which sometimes run out so those links i cannnot promise all will work. These will be labeled "Faucets"
-There is also a site that will take any website link and shrink it and then people click on that link you will earn some BTC's. That will be labeled (Clicks)
The Not Free Way...
You can sign up for an account on mtgox and there you can buy and sell BTC all you want.
The Not Free Way...
You can sign up for an account on mtgox and there you can buy and sell BTC all you want.
Where do I Store These Coins?
There are two ways you can keep track of your BTC's. I suggest you download a "bit-wallet" Hit skip ad in the top right hand corner.
Select Bitcoin-qt and on the next page... if you have windows select the (exe) one not (zip). Everyone else select what fits your computer.
The other type of wallet is the online wallet. You can sign up on coinbase
I use the bitcoin-qt because i feel that it is more secure. Also if you forget your password to coinbase im not sure you can ever get it back.
NEED TO KNOW:
You will have an address for each wallets. You can create multiple addresses (not wallets) if you want (for free) and by doing this you can better organize your wallet and know whose paying you and how much.
My addresses are covered in black.. You can see that I have multiple because I like to stay organized.
- If you want to Copy an address you will highlight the address you want to copy and hit the copy address button circled in red below
ALSO IMPORTANT TO KNOW
When you first open the downloaded bit wallet (Bitcoin-qt) it will take about a day to sync up. Just leave the program up over night and you should be fine. This is an example of a non synced wallet compared to a synced one.
This is a Synced up one
That is all you need to get started earning bitcoins. Now the list of the sites.
