How to Obtain, Store and Transact BitCoins ?

Buy Bitcoin TransactionIn the previous article we have seen What is a Bitcoin and How they are Created. We’ll now try to explain in simple English How can one Obtain, Store and Transact using Bitcoins.

How can one Obtain Bitcoin ?
Bitcoin are obtained either through mining them yourself (out of reach for most people and institutions at this point given the sophistication of the computing power now required to do so) or by buying them from exchanges or from individuals that are selling them directly. There are roughly one hundred or more bitcoin exchanges around the world and new ones seem to be popping up daily. Examples include Slovenia-based Bitstamp, Bulgaria based BTC-e and (more…)