Jump to content

Log in or register to remove this advert

How to buy your first Bit of Bitcoin - Step 1


Rob D
 Share

Recommended Posts

Ok on the back of the crypto thread I'm going to outline how to buy your first bit of Bitcoin.

But who wants 0.003 of a Bitcoin! So it will end with buying one of the up and coming coins :)

 

But in Step 1 no money will be changing hands you'll be pleased to know.

 

Ok first step is pretty easy - you're going to open a Bitcoin online wallet.

 

  • Go to https://www.bitgo.com/
  • Hit log in. It then asks if you want to Sign Up - click that
  • Select Personal and fill in the details
  • In your inbox should now have a verification e-mail - click that and it takes you back to the login screen. Now login
  • You need to add an extra layer of security - you will find security around crypto currency is almost tighter than your online banking!
  • Download onto your phone (and another spare phone/partners phone) Google Authenticator App
  • You now get a screen showing a scan code and beneath that is a numeric key - print this ket out - if you lost your phone it is this key that allows you back into your account
  • Up to you but you could print more than 1 copy and hide it at your Gran's/dads etc
  • DO NOT e-mail yourself the key - this is how people have got hacked - their e-mails get hacked first and then they look for the keys to allow them access.

 

  • Tip - with these long keys copy and paste but look at the first two and last two digits as a double check you have pasted the complete code

 

  • Open the Authenticator App (on your mobile)- hit the little + sign at the top - scan the square code
  • The App will then label this as BitGo
  • Use another phone to do this as well - now you have a backup phone in case you lose yours
  • Now type the 6 digit pin number into the box, then hit SUBMIT

 

  • Almost there - so now you download the keychain and other encrypted info that allows you to recover your wallet if you lose your phone or forget password.
  • Up to you but maybe print this twice and put in x2 seperate safe places

 

Ok you're done - first step completed. You now have a place to store Bitcoin. Login and logout a few times to make sure you know what's what. All the fiddly bits are in case the worst happens. Most of the time it is just like logging in and out of your bank account.

 

Step 2 tomorrow...

 

 

Cap1.JPG

Cap2.JPG

Cap3.JPG

Cap4.JPG

Capt5.JPG

Capt6.JPG

Capt7.JPG

Capt8.JPG

Capt9.JPG

Capt10.JPG

Capt11.JPG

  • Like 1
Link to comment
Share on other sites

Log in or register to remove this advert

Nope you don't need to scan them Steve - they are just backups in case you lose your phone... they are for the BitGo people to scan not you.

 

Just print the pdf a couple of times and put somewhere safely.

 

Sounds like you are done :)

 

Will do next step tomorrow. In the meantime just log in and log out of the wallet and make sure it's working as God intended it to.

Link to comment
Share on other sites

It's a great thread!  And the discussion one too...

 

Was :lol::lol: at James O'Brien on LBC yesterday - he had some proper boffin trying to explain Bitcoin to him and he was like  "...you're talking Jane Austen, and I'm reading Ladybird..."

 

It's all getting a lot of press right now, R2 last week, LBC yesterday....  Their financial editors must be AT readers??? 

Link to comment
Share on other sites

Haha! Don't get too caught up in Bitcoin is my advice. The hype, the prices the nonsense...

 

It's the newer ones coming out that I reckon will be amazing... Some of them are complete and utter tripe but others are looking really good. 

 

Anyways - get your wallet opened and wait for next instalment tonight...

 

By the way where is this headed? Well how about buying an Echo CS-2511 TES for £140-00 (+vat) if paid for in the coin of our choosing? And I'm not even joking!

 

But there are a good few steps to go yet and I need to make sure the website can accept it!

Link to comment
Share on other sites

1 minute ago, Rob D said:

Haha! Don't get too caught up in Bitcoin is my advice. The hype, the prices the nonsense...

 

It's the newer ones coming out that I reckon will be amazing... Some of them are complete and utter tripe but others are looking really good. 

 

Anyways - get your wallet opened and wait for next instalment tonight...

 

By the way where is this headed? Well how about buying an Echo CS-2511 TES for £140-00 (+vat) if paid for in the coin of our choosing? And I'm not even joking!

 

But there are a good few steps to go yet and I need to make sure the website can accept it!

I'll buy some bitcoins and do that deal! Still think it's all a bit of a fad though tbh

  • Like 1
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

  •  

  • Featured Adverts

About

Arbtalk.co.uk is a hub for the arboriculture industry in the UK.  
If you're just starting out and you need business, equipment, tech or training support you're in the right place.  If you've done it, made it, got a van load of oily t-shirts and have decided to give something back by sharing your knowledge or wisdom,  then you're welcome too.
If you would like to contribute to making this industry more effective and safe then welcome.
Just like a living tree, it'll always be a work in progress.
Please have a look around, sign up, share and contribute the best you have.

See you inside.

The Arbtalk Team

Follow us

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.