Bitcoin Setup Instructions
Before you can get yourself some bitcoins, you first need to set up bitcoin wallet, which is a small software application that runs on your computer that holds the bitcoins you buy.
I found the
Electrum bitcoin wallet nice and simple (good for people with brain fog).
This page explains how to set up Electrum. It takes a few hours to set up Electrum and then buy some bitcoins to put in your Electrum bitcoin wallet.
You buy bitcoins from a bitcoin exchange website such as
these ones in the UK, or
these ones in the US.
It works like this: let's say you are using your credit card on a bitcoin exchange website to buy some bitcoins; you enter your credit card details, enter the amount you want to exchange into bitcoins (eg, $100), and enter your bitcoin receiving address.
Your bitcoin receiving address will look something like this:
19zFWcSUzsdeAzSNhTL3UY9qz1Ng5JBLzG. You can find your bitcoin receiving address in the "Receive" tab of Electrum.
(Note that each time you buy some bitcoins to put into your bitcoin wallet, you should use a new receiving address. Electrum creates a fresh receiving address for you when you click the "New" button in the "Receive" tab.)
Then on the exchange website, your dollars get converted into bitcoins (at the current exchange rate), and placed into your bitcoin wallet. Note that it may take about a couple of hours before the bitcoins reach your wallet. You can see the latest and historical bitcoin prices
here.
When the money arrives in your bitcoin wallet, is it displayed on the bottom bar of the Electrum window; it will say something like:
Balance: 0.25134 BTC. BTC means bitcoins.
Once you have set up you bitcoin wallet and have some bitcoins in it, paying for goods by bitcoin is even easier than entering your credit card details. When you purchase goods online and go through the normal website checkout process, the website you buy the goods from will display a message (or send you an email) saying something like:
Please send 0.1852 bitcoin to our bitcoin address: 1DfemcZNLYHtra5rB9bqbj8zdgjRevv1Tx
You then just copy and paste that bitcoin address into the "Pay to" field in the "Send" tab of your Electrum bitcoin wallet, enter the amount to pay (0.1852 in this example), and press the "Send" button. That's it. That's how you pay by bitcoin.