mpking
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- Nov 16, 2016
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Overview
I wanted to buy AnyDVD, but was having significant problems with my credit card going thru. To that end, I decided to get some Bitcoins, and pay that way. This is the results of my research. My goal was to do this as easily and painlessly as possible. I was not striving for total anonymity, in fact, if you are looking for total anonymity, this is not the way to do it.
Wallet
To own a bitcoin, you have to place it in a wallet. Without a wallet, you can’t receive, store, or spend bitcoins.
A Bitcoin wallet is simply an app, website, or device that manages Bitcoin private keys for you.
There are 2 types of wallets. Hot-wallets, and Cold-wallets.
Think of them like this:
Purchase Bitcoins
Now that you have an empty wallet, now you need to buy some bitcoin.
The easiest guide I’ve found was https://www.buybitcoinworldwide.com/ which goes over the pros and cons of each buying METHOD.
For me, I chose to buy thru CoinBase, because of a few reasons.
That's it! It's not very hard at all.
Following directions are for the desktop app
That's it! It's not very hard at all.
*Updated December 2019
I wanted to buy AnyDVD, but was having significant problems with my credit card going thru. To that end, I decided to get some Bitcoins, and pay that way. This is the results of my research. My goal was to do this as easily and painlessly as possible. I was not striving for total anonymity, in fact, if you are looking for total anonymity, this is not the way to do it.
Wallet
To own a bitcoin, you have to place it in a wallet. Without a wallet, you can’t receive, store, or spend bitcoins.
A Bitcoin wallet is simply an app, website, or device that manages Bitcoin private keys for you.
There are 2 types of wallets. Hot-wallets, and Cold-wallets.
Think of them like this:
- Hotwallet is like the wallet on your person. Easily accessible, yet fairly easily stolen. (Pickpocket / purse-snatcher). You want only keep the minimum amount of money you need in these. You wouldn’t walk around on the street with your life’s savings, would you?
- Coldwallet is like a safe that you’ve installed somewhere. This is usually done via an offline computer (Air gapped, powered off)
- Hardware Wallets are a subset of coldwallets with dedicated hardware that requires you to have physical access to the hardware wallet.
Purchase Bitcoins
Now that you have an empty wallet, now you need to buy some bitcoin.
The easiest guide I’ve found was https://www.buybitcoinworldwide.com/ which goes over the pros and cons of each buying METHOD.
For me, I chose to buy thru CoinBase, because of a few reasons.
- I had already created my wallet with CoinBase, so it was the easiest to buy from.
- They accept Credit Cards (Visa / Mastercard)
- They only charge 3.99% credit card “convenience fee” (Bank transfers are 1.49%). This is one of the lowest credit card fees that I found.
- They do have a $100 a week limit on credit cards, unless you Verify your ID. (In the USA scan and send a copy of your drives license, This was WAY easier thru the mobile app.) For me, this was not a problem.
- Visit the ordering page
- Fill out the order form, make sure to select Bitcoin at the bottom:
- On Page 3 / 4 (Ignore the fact there was no Page 2/4) confirm your details and select
- On Page 4 / 4 you should receive the Bitcoin Amount, and Address for payment
- Copy the Bitcoin address to your clipboard. Leave this window open, you’ll need the BTC amount in a later step.
- Log into your CoinBase account,
- From the Home Tab, click the Portfolio Button
- Click the Bitcoin wallet in your portfolio screen
- Click the Bitcoin Wallet (a second time)
- Click the Send button:
- Enter in the correct amount of BTC from the Redfox page you left open on Step 5 in the previous section. Click Continue
- Fill in the TO field with the Bitcoin Address. (You can use the QR code)
- Hit Send Funds
- There may be more steps, but this should get you on your way.
That's it! It's not very hard at all.
Following directions are for the desktop app
- Sign into Coinbase.
- Click on Portfolio
- Click on Bitcoin under "Your Assets"
- Click SEND
- Enter a recipient address, an amount, and click continue
- There may be more steps, but this should get you on your way.
That's it! It's not very hard at all.
*Updated December 2019
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