Finally Figured out Bitcoin

[Chancer]

@DBGdefector No no no no no, I've just wrapped my head around the basics. I would rather go to prison than be any more confused than I am.

 

[Santa's little helper]

jail sucks

 

[Chancer]

Update: I did successfully make my transaction using Bitcoin
I was so excited and proud of myself, even the actual order became secondary to my newly acquired crypto genius
Thank you all for the assistance except @DBGdefector who's uber knowledge nearly sent me to the psych ward.

 

[Chancer]

I'm back, I'm trying to do my second transaction but I keep running into problems because I'm using a phone and its driving me nuts. All the u tube videos are computer based rather than app. Can someone tech savvy help me out please. Coinbase is just fine but Electrum has become an absolute nightmare.

 

[Bocanada]

I'm back, I'm trying to do my second transaction but I keep running into problems because I'm using a phone and its driving me nuts. All the u tube videos are computer based rather than app. Can someone tech savvy help me out please. Coinbase is just fine but Electrum has become an absolute nightmare.

If you want to have a no hassle bitcoin experience I recommend you download cashapp and make an account and link your debit card. They make it really easy to buy/sell and if you need to pay a vendor you can do so from the same app on your phone. Their rates are not the best but because it is user friendly they can get away with it.

 

[Kovalainen]

@north19 Over a month of studying like 1 or 2 hours a day? You are scaring me to try to open a Bitcoin account...

 

[Chancer]

@north19 Over a month of studying like 1 or 2 hours a day? You are scaring me to try to open a Bitcoin account...

Honestly, I found BTC more complex than my degree. Constitutional Law is notoriously complicated and contradictory but, we do have a Constitution in the UK which is classed as unwritten or uncodified (Which is strange because there is a ton of textbooks written and released every year on the topic).

I digress; I have found a solution to the crypro matrix shenanigans. The issue I had with Electron was it created too many addresses, then these addresses would be given time limits (22 hours etc ).

So I found another called Exodus which has both a corporate and professionally user interface. Its website is highly corporate and professional. An 'Exodus guide for the really challenged idiots like Chancer' type set up, I found it fantastic and it even had pictures (No, I'm not embarrassed to admit that I really REALLY liked having pictures).

 

[Kovalainen]

@Chancer Oh my, and I have to learn cause if I pay someone I have to trust in that company or person, am I right?

 

[Chancer]

@Chancer Oh my, and I have to learn cause if I pay someone I have to trust in that company or person, am I right?

If you need to pay someone? Then its probably not someone you should be trusting with sensitive information.

Honestly, its definitely workable. Once you do those first few transactions it becomes natural.

The best advice I can give you will make life much easier, try it like this;

1) Download the 'Coinbase app" its one of the most popular and well know which, equates to a TON of u tube videos/blogs/tutorials. Its really easy to set up an account 'coinbase' as long as you have the necessary ID (Passport/Driving Licence etc).

2) Download 'Exodus'. Again there is a few tutorials about transferring from CoinBase to Exodus. They have a brilliant website with step by step directions ,(even differentiating between using windows or an app ).

3) If you are confident with apps then that might be the easist in practice with the directions they give.

4) I used two phones but you could use a computer/tablet and or phone. I used one phone with the step by step directions, (yes, it does actually give you a written and pictorial explanation).
It shows you EXACTLY what you will see on the screen. It even has red directional lines pointing to what button you should press.on the app..

4) Fail to plan, plan to fail! its true in most things in life and definitely true here.

5) I messed up because it was a few weeks between sending the first BTC and the second, so I got myself more confused and assumed 'I know what I'm doing now', I didn't

6) Practice, Practice and practice. Send funds from Coinbase £5/10 at a tine. If ypu do that 5 or 6 times over a week to practice them muscle memory will kick in and it will become natural.

7) Sending to the vendor is the easiest part (honestly). He/she will send you the long code which you copy and paste into where the 'receiver' section. You only need to remember (write down) the first four and last four digits, if those are accurate then the whole code will be accurate (although I did check every digit about 5 times before I sent the first one, my OCD made me do it ).

8) Double check everything before you press send, the amount, the reciever first/last digits etc.

9) If you were planning on investing in crypto then it would definitely be a degree level/timescale. If its just for sending funds then its much easier.

10) Give crypto vendors the same (even less) trust before sebding you're money.

11) If you need help then ask someone on PR for help, its free and they dont need any specifics to be able to help.

Good luck, you got this

 

[Shanicharramp]

Even though the thread is old, I wanted to congratulate you on finally figuring out Bitcoin and successfully making a transaction through Bitbuy. That's a major accomplishment, my friend! It's great to hear that you found Bitbuy to be one of the best platforms for Canadians at the time. I hope your transaction went through without any issues and that you were able to avoid the hassle of dealing with WU or MG. By the way, even though this thread is from three years ago if you ever find yourself in need of a trading calculator to assist you in making informed decisions, you can check out this https://fbs.com/trading/traders-calculаtor. It can be a helpful tool to maximize your profits and navigate the market.

 

[Fisher]

No BC for me I looked into it about a year ago and they want way too much information and by me there are no BC machines so no go for me so far ..prolly I'm too dumb to figure it out ...

 

[Chancer]

@Fisher If you don't feel comfortable then don't do it. Always go with what you are comfortable with.

 

[pinkflower]

It all seemed completely incomprehensible to me until a few years ago when I found an exchange in this country that explained it so well! It just 'clicked'. I used to use a wallet - Electrum I think, not sure now - but then I found my wonderful source of three years that didn't take btc so used bank transfer for that stress-free time. When they stopped I knew I had to go back to btc. The exchange I use now enables one to send directly from the exchange so I just get the btc amount needed to pay at the time of purchase, put it into my exchange which tells me how much I need to pay them in our currency, which I transfer immediately from my bank account, copy and paste the wallet address of the vendor into the exchange and send it. So simple.

Goes against so much of the advice on here, but I don't care. It works for me.

@Fisher Don't pretty much all payment methods now require ID etc before you can use them? That has been my experience whether it has been with my fab btc exchange, or with fab XE.com (international bank transfer service I use) and WU. OMG! I had forgotten about that! I had to make my first transfer in store before I could start using it online. The local agent hasn't got the most pleasant manner anyway, but it was awful trying to provide him with all the info he needed! I had three forms of ID with me but that wasn't good enough for him for some reason! So I had to drive 15 minutes back home to find something else that he was finally satisfied with! Then he kept trying to trip me up with sneaky questions! I blush easily, lol, but I got it done. I have rarely had to use it since then but always online when I have. I have had a couple of phone calls - one from a very pleasant young man in Latvia (not where the payment was being sent to) - with whom I had a very nice conversation and who I pictured to be very nice looking, lol.

No btc machines near me either. I don't think we even have them here.

Oh I just googled to check. The first line looked promising...

''List of major cities in New Zealand with bitcoin ATM installations: Unfortunately, there is no bitcoin ATM we know of in New Zealand. ''

Not much of a list!

 

[Iminall1]

Every time i send a payment with bitcoin i will admit it makes me nervous if it will go through. I’m not happy until the person tells me they have received. Especially when you’re sending 3 or 500 bucks not knowing if it will go through. It is nerve racking for sure. I usually pay a fee of 6 or 7 dollars when i send bitcoin. I can live with that kind of fee. Good luck using your bitcoin provider cause they have so many you can choose from.

 

[Juice8]

@Iminall1 haha that feeling of nervousness is so real. every moment until its confirmed sweating like bullets. for large transactions within your own wallets always recommend test transactions of smalelr amounts

 

[Chancer]

I used to use a wallet - Electrum I think, not sure now

That's the one I started with but I struggled with it. Then I switched to Exodus which literally gives you a step by step guide depending on whichever system you're using.

I used my tablet and got that page up, then used my phone to follow the steps. It was much easier as it literally has a red line showing you what/where you need to click. Now its second nature using it. Although others might have alternative ones they find easier.

@Iminall1 When I started using it I would literally write down every digit/number and check it 3 times, then someone told me to just copy and paste. If the first 4 numbers and the last 4 numbers match then it's highly unlikely you've made an error.
When you copy and paste the addy from the vendor, put it in notes etc, that way if anything goes wrong you can go back and clarify. Although I genuinely haven't had to rely on that although I still do it. Once your comfortable with the vendor it's just as easy(ier) as using WU or MG etc. I'm a well known technophobe but still managed to learn, just from the BTC threads on here. There are awesome people on those threads who are happy to help with any questions you have. Good luck, practice makes perfect as they say and transferring from coinbase etc also helps clarify that you are doing it right. If you can transfer from coinbase to a wallet, the wallet to the vendor is easier imo. I would pay a higher fee the first few times so it goes through quicker. That reduces the stress from waiting exponentially in my experience.

 

[Iminall1]

@Chancer
i hear what your saying chancer.
I honestly keep my eyes open until they actually send me tracking or tell me thank you for payment. It’s definitely something that messes with your mind.

 

[Chancer]

@Iminall1 Sorry, I wasn't ignoring you. I literally just saw your post lovely. Yes, even just a one or two words response, even an emoji is reassuring and all you need from the vendor.

 

[otherone]

Be careful on the fees but do prefer BTC as the primary form of payment. Just don't let a payment address go to long with sending payment.

 

[countryboyjs]

The vendor I have been using swapped to Bitcoin this past year. I miss Wu and Mg options. You loose a lot more money on Bitcoin transactions. But on the upside you can do Bitcoin transactions at home and you ain't gotta worry about the person behind the counter trying to interrogate you when you're trying to make a Wu or mg transaction. You sure you know this person, you sure this ain't a scam,etc. It's my money, why should they care?