Purchasing bitcoins is a relatively simple process, and if you have any experience in traditional banking, catching on to how to transfer traditional currency to bitcoins and back again will be no problem. Basically, if you’ve ever written/deposited a check and even dabbled in online banking (checking your account balance online, transferring money from one account to another) then the process of purchasing, trading, sending, and receiving Bitcoins will be a snap for you. But before purchasing Bitcoins you need to know where and how they will be stored once you have them.

THE BITCOIN WALLET Essentially all bitcoins are stored in a Bitcoin wallet (not much different Then your wallet or purse). This is where you will send bitcoins from and where bitcoins will stay once received. However, just like your physical wallet. It’s important that you take measures to protect it because it can be stolen or lost. This is a reality for anyone in any situation, and bitcoin is no different. There are four types of bitcoin wallets. You don’t have to use just one type, and you can send money to and from each wallet as you see fit:

1] Software wallets

2] Paper wallets

3] Mobile wallets

4]Web wallets

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