Just Getting Started with Digital Currency (Bitcoin)?

cryptocurrency bitcoin coins

Bitcoin is a digital currency that’s actually quite straightforward to set up and simple to use. Though it can be challenging at first, it’s very similar to using PayPal. Once you’ve successfully set up a wallet and made one bitcoin payment the process is simple to continue to make purchases to vendors that accept Bitcoin.

To get started you have to purchase bitcoin from an exchange by using your local currency, like U.S. dollar or Euro, for bitcoins.

Some examples of exchanges are Coinbase (worldwide), CoinMama (worldwide), CEX.io (worldwide), and Bittylicious (UK Only). These websites allow you to set up an account, purchase Bitcoins using a credit or debit card, and proceed to buy the digital currency. The digital currency will need to be stored in what’s called a wallet.

Very similar to the wallet that’s kept in your back pocket, but this wallet is an application that is either stored on your desktop, laptop, or mobile device.

We currently recommend using Trustwallet for a wallet as you can buy Bitcoins directly from the application and be redirected to Simplex or MoonPay to purchase Bitcoins with a credit card. Trustwallet links for Google app download are here and for iPhone they can be downloaded here.

A “wallet” is basically the equivalent of a bank account. It allows you to receive bitcoins and other coins, store them, and then send them to others.

You can think of a wallet as your personal interface to the Bitcoin network, similar to how your online bank account is an interface to the regular monetary system.

A wallet is where your coins are stored. Some other great examples of wallets to use are Exodus and BRD. But as of right now, Trustwallet is preferred because you can purchase coins securely directly from the app using a credit card.

How to Send Bitcoin:

Rather than use account numbers or email addresses to direct your payment to the right person or vendor, bitcoin payments use addresses that look like this: 24f8jKZNP2tJaeAaJ4FPGYfDGYVNop7GNK. Or to make it even easier, using your mobile app you can scan what is called a QR Code, here is an example.

QR Code
QR Code

Sending money via your wallet is as simple as Converting Units from USD to BTC and then entering this amount and the recipient’s address in the send form of your wallet or exchange account.

When you checkout we will provide you a unique bitcoin payment address and calculate the amount bitcoin due. On receipt, we will mark your order as processing and prepare it for shipment.

If you have any questions with Bitcoin don’t hesitate to email is at contact@genx.bio

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