Begin with Bitcoin! 10 Tips for Beginners to Bitcoin

Bitcoin is lately considerably again attention. Among other course by course. We get a lot of questions about how best to start or "boarding" in Bitcoin. But beware: There is not any guarantee that the Bitcoin currency will continue. Bitcoin has in recent years demonstrated that it offers unprecedented opportunities but there are certain risks involved. It is therefore wise to keep a few basic rules when you go to work with Bitcoins.

1. Bitcoin is an experiment: Educate yourself
Bitcoin is still in its infancy, make yourself aware of all the opportunities and all the risks. Inform yourself and choose a good Bitcoin wallet (electronic wallet) to save your bitcoins on.

2. Remember, Bitcoin is NOT anonymous
Contrary to what you may have heard Bitcoin is not anonymous. Bitcoin addresses are not linked to a person but the Bitcoin transactions, however, are completely transparent and traceable. You can therefore see better Bitcoin as a pseudo-anonymous. Apart from the fact that you hear anything at all to do anything illegal, I certainly would not use in Bitcoin.

3. The Bitcoin currency can fluctuate violently, keep this in mind.
Grab a peek at the crypto exchange page, select period under "all" and then further explanation. This is necessary for beginners specially.

4. Invest money that you can not miss
We already know this rule of the stock market, but the spirit remains the same. Do not assume that Bitcoin will guarantee you rich and you realize that you can lose your invested funds.

5. Choose a good Bitcoin wallet
Safely store your Bitcoins is something you have to think carefully.

6. Use varied and complex passwords.
Many of us choose it out of sheer convenience of using the same (often simple) password for multiple sites. Hackers, however, easy passwords unfortunately easily crack or guess and a password can be stolen or drain etc. So, always open your accounts by the culprit of all this misery. So why use a complex and unique password for each account. If necessary, use password management software to safely store all your passwords.

7. Make back-ups!
Make regular backups of your bitcoins. Multibit and Bitcoin core both have available the option to create an encrypted backup of your wallet. Do this on a regular basis. Again, you will not be the first (or last) which are behind on a day when all his bitcoins away. 

8. Beware of online Bitcoin wallets
Online bitcoin wallets are easy to use, but they also pose a risk. The online service can be hacked or go bankrupt and then the chances are very high that you will never again see your bitcoins. Preferably use the online service as a small money wallet and keep the bulk of your bitcoins on a hardware or wallet secure computer Bitcoin core or Multibit software. This of course combined with a good password and backups.

9. Check your address
If you want to send or receive bitcoin, check always the bitcoin address. Bitcoin payments are irreversible because so bitcoins sent to or received at the wrong address can be considered as lost. Some software or online services will also have the ability to determine the amount of the transaction itself, watch there as well along on!

10. Consider the tax
As Bitcoin is also be accepted more government agencies interfere. You must now specify for example, all your digital amount of money in the annual tax return and there will probably not stop there. So keep proper books and records and go but that the tax authorities or other governmental authorities sooner or later is being heard.