techmob Posted March 19, 2016 Share Posted March 19, 2016 I know, I am a late starter on this Anyone use this type of payment method? I have notice more and more suppliers are taking this payment. One supplier only has a few payment options and internation bank transfer is my only option (bank fee) or bit coins I assume this is all safe and above board using Bitcoin, any ones I should avoid or recommended to get me started. I will do some reading but wondering if you guys/girls use it. Quote Link to comment Share on other sites More sharing options...
chizh Posted March 19, 2016 Share Posted March 19, 2016 I use blockchain.info to maintain my bitcoin account but there are others, including managing your own account via a client rather than have the account stored by someone else online . http://www.telegraph.co.uk/technology/news/10559175/How-to-get-your-virtual-hands-on-some-bitcoins.html is a fairly old but good intro and also has a link to Bittylicious where you can load your account by buying your first bitcoin - after you've setup your bitcoin address. TBH I can't remember how I loaded my 1 and only purchase but it's a lot easier now than it was. Safety and security are a major concern as transactions are non-reversible so you can in effect send money you someone just by getting one digit in an address wrong and is only the same as putting the wrong account code into your bank's payment screen. This is highly unlikely though as you'd cut'n'paste addresses rather than re-type any. Additionally, if you're paying for goods/services then their payment screen will pre-fill the address they want you to send BTC to and all you'd do is copy your wallet address as the source. Blockchain.info also, for example, operate a 2-factor login and you cannot access your wallet without the password and the SMS code that is sent to you and then you have to enter your password again just to see your own account page. Overall, Bitcoin works well and if you intend to use it regularly then it will quickly become second nature. If, like me, it's a random event ( 7 transactions in 3 years !) you might have to get in the groove each time. I bought 2 BTC for £20. After 3 years of paying for things I've got £120 worth left. If only I'd bought a year earlier... Quote Link to comment Share on other sites More sharing options...
techmob Posted March 19, 2016 Author Share Posted March 19, 2016 Nice one Yea, noticed how much it has gone up Reading a thread on modshack dated 2012 and a Bitcoin could be bought for £3 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.