So when someone asks: Can I buy Bitcoins at grocery stores? Might get us rolling our eyes on this forum but we think it's a valid question for newbies, and we get asked a lot of these kinds of questions on Quora!
For many newcomers, Bitcoin is a bewildering thing, never mind the technology and ideas behind it!
Check out how we answer the question on Quora. Think you could have come up with a better one?
Topic: Bitamp Bitcoin Web Wallet - Send & Receive Bitcoin Instantly! - page 25. (Read 13678 times)
We got asked today but it wasn't precisely clear which crypto the query was related to so we answered for multi-crypto and ETH.
Whichever the wallet, we believe open source needs to be the prerequisite. Agree?
Full answer here.
Whichever the wallet, we believe open source needs to be the prerequisite. Agree?
Full answer here.
Now we got a question asked about if it were possible to live only on crypto. As much as we love Bitcoin, our answer had to be no. Even though we're fully invested in crypto and we earn it, we recognize that mass adoption hasn't reached the levels we'd like to be able to fully live on crypto.
That said, if you ever want to try it, make sure you're using a wallet where you control the private keys!
Read our answer in full: https://www.quora.com/Is-it-possible-to-live-only-using-cryptocurrencies/answer/BitAmp-Official
That said, if you ever want to try it, make sure you're using a wallet where you control the private keys!
Read our answer in full: https://www.quora.com/Is-it-possible-to-live-only-using-cryptocurrencies/answer/BitAmp-Official
It is. Secure escrows are cool to protect traders on P2P marketplaces but people have to send funds to Escrows on such marketplaces. Above all, having full controls on private keys and self protect their keys, their funds (if they don't trade) are things they should priority for and should learn to manage it.
Secure escrows are for trading P2P but for fund storage, non-custodial wallets are best ones for bitcoin enthusiasts.
Secure escrows are for trading P2P but for fund storage, non-custodial wallets are best ones for bitcoin enthusiasts.
Apart from that, escrow mechanisms for Bitcoin marketplaces aren't all too friendly just yet for most users, never mind Bitcoin newcomers! The ones that ARE easy to use and understand (like on Localbitcoins) usually do force you to handover control of your entire wallet though, so again, sacrificing convenience for control.
That again is the whole philosophy of Bitamp:) To try and see that fine balance between security, control, and ease of use.
May you have read this article https://blog.lopp.net/how-to-solo-mine-on-bitcoin-s-testnet/
If you have bitcoind and bitcoin-cli installed on your system you should use bitcoin testnet box https://github.com/freewil/bitcoin-testnet-box
or get it from faucet.
My appreciation for your help with the article from lopp.net. It enlightens my mind and my knowledge on Bitcoin testnet. If you have bitcoind and bitcoin-cli installed on your system you should use bitcoin testnet box https://github.com/freewil/bitcoin-testnet-box
or get it from faucet.
Indeed, exchanges are simply easier for most people, and understandably, people still feel more secure in buying from a company that they can later speak to a customer support person if anything goes wrong. Even when P2P marketplaces have very secure escrow that protects them more, the barrier to entry is the technical difficulty.
It's this technical barrier of owning your own Bitcoin that we understand and are trying to address with our wallet solution:)
It is. Secure escrows are cool to protect traders on P2P marketplaces but people have to send funds to Escrows on such marketplaces. Above all, having full controls on private keys and self protect their keys, their funds (if they don't trade) are things they should priority for and should learn to manage it.It's this technical barrier of owning your own Bitcoin that we understand and are trying to address with our wallet solution:)
Secure escrows are for trading P2P but for fund storage, non-custodial wallets are best ones for bitcoin enthusiasts.
In the past, P2P marketplaces are best options for people to buy bitcoin but with the integrations of fiats and own-built P2P marketplaces on more and more crypto exchanges, people tend to more frequently use crypto exchanges to buy bitcoin and other cryptocurrency. For now, it is almost restricted to bitcoin but in the future, more cryptocurrency will be available on exchanges' own-built P2P marketplaces. They provides many payment methods include credit cards.
Indeed, exchanges are simply easier for most people, and understandably, people still feel more secure in buying from a company that they can later speak to a customer support person if anything goes wrong. Even when P2P marketplaces have very secure escrow that protects them more, the barrier to entry is the technical difficulty.
It's this technical barrier of owning your own Bitcoin that we understand and are trying to address with our wallet solution:)
Could you give us more details on Bitcoin testnet, mining operations on such net.
Testnet is important for newbies users to get experience with Bitcoin wallet, transaction, backup, etc. And help them avoid mistakes and financial loses.
Testnet is important for newbies users to get experience with Bitcoin wallet, transaction, backup, etc. And help them avoid mistakes and financial loses.
May you have read this article https://blog.lopp.net/how-to-solo-mine-on-bitcoin-s-testnet/
If you have bitcoind and bitcoin-cli installed on your system you should use bitcoin testnet box https://github.com/freewil/bitcoin-testnet-box
or get it from faucet.
Is there really only 2 ways to buy Bitcoin? We think there are more, but for the Bitcoin newcomer, it's probably significant to mention the 2 major ways: buying it P2P and buying it from an exchange. Bitcoin ATM some say, but isn't that just buying from an exchange sort of?
Our full answer: https://www.quora.com/How-do-you-actually-purchase-Bitcoin-Its-very-confusing-with-wallets-and-everything-Is-there-a-newbie-guide/answer/BitAmp-Official
In the past, P2P marketplaces are best options for people to buy bitcoin but with the integrations of fiats and own-built P2P marketplaces on more and more crypto exchanges, people tend to more frequently use crypto exchanges to buy bitcoin and other cryptocurrency. For now, it is almost restricted to bitcoin but in the future, more cryptocurrency will be available on exchanges' own-built P2P marketplaces. They provides many payment methods include credit cards.Our full answer: https://www.quora.com/How-do-you-actually-purchase-Bitcoin-Its-very-confusing-with-wallets-and-everything-Is-there-a-newbie-guide/answer/BitAmp-Official
Quote
@OrcTradism we'll get back to you;)
Thank you.
Is there really only 2 ways to buy Bitcoin? We think there are more, but for the Bitcoin newcomer, it's probably significant to mention the 2 major ways: buying it P2P and buying it from an exchange. Bitcoin ATM some say, but isn't that just buying from an exchange sort of?
Our full answer: https://www.quora.com/How-do-you-actually-purchase-Bitcoin-Its-very-confusing-with-wallets-and-everything-Is-there-a-newbie-guide/answer/BitAmp-Official
@OrcTradism we'll get back to you;)
Our full answer: https://www.quora.com/How-do-you-actually-purchase-Bitcoin-Its-very-confusing-with-wallets-and-everything-Is-there-a-newbie-guide/answer/BitAmp-Official
@OrcTradism we'll get back to you;)
Ever wondered how or why we called Bitcoin mining, mining? After all, it isn't just about mining new bitcoin, and the same process will yield negligible amounts in a few decades. Want to see our take on it? Our answer on Quora: https://www.quora.com/Why-is-the-process-of-obtaining-Bitcoins-called-mining/answer/BitAmp-Official
Interesting but I need a little more.I heard that Bitcoin testnet needs to be run by mining five too. Honestly, long time ago I thought Bitcoin testnet is run without rigs. Could you give us more details on Bitcoin testnet, mining operations on such net.
Testnet is important for newbies users to get experience with Bitcoin wallet, transaction, backup, etc. And help them avoid mistakes and financial loses.
Ever wondered how or why we called Bitcoin mining, mining? After all, it isn't just about mining new bitcoin, and the same process will yield negligible amounts in a few decades. Want to see our take on it? Our answer on Quora: https://www.quora.com/Why-is-the-process-of-obtaining-Bitcoins-called-mining/answer/BitAmp-Official
The latest question we received today on Quora was about Bitcoin fees and we find that a lot of users find this aspect to be one of the most difficult ones to do on their own. On our wallet, therefore, we have set 3 levels of fees, depending on urgency of the transaction, and set the lowest one to still have enough fees to ensure a quick enough transaction. It's not ideal, but we want to prevent users accidentally setting too low fees to confirm!
Bitamp wallet ready has 3 address types and Bench32 is one of them.
Lightning network (lnxxxx) if possible, I suggest.
Thank you.Lightning network (lnxxxx) if possible, I suggest.
Somehow I missed that after I generated seed words...
I can see that Lightning network and Exchange tabs are planned and in development.
Not sure if fiat $ will be added to exchange or only other crypto coins, but overall it is solid alternative for blockchain.com
Thank you to OcTradism for helping out a fellow wallet user! Glad you could sort yourself out so fast.
And yes, as we responded earlier, we have definitely put Lightning Network on our horizon maps, whether or not we actually do it or how soon that will be remains to be seen. Personally, we'd love seeing everyone going full Segwit first!
Bitamp wallet ready has 3 address types and Bench32 is one of them.
Lightning network (lnxxxx) if possible, I suggest.
Thank you.Lightning network (lnxxxx) if possible, I suggest.
Somehow I missed that after I generated seed words...
I can see that Lightning network and Exchange tabs are planned and in development.
Not sure if fiat $ will be added to exchange or only other crypto coins, but overall it is solid alternative for blockchain.com
OP do you have plans to have Native SegWit (Bech32) addresses for Bitamp wallet in future?
It can help lowering fees for transactions even more than regular segwit.
Bitamp wallet ready has 3 address types and Bench32 is one of them.It can help lowering fees for transactions even more than regular segwit.
It is your key, it is your bitcoin. Secure your key.
With Bitamp wallet, from a single private key, you can have three options to get 3 types of receiving address list, for: standard(1xx), segwit (bxx), and P2SH (3xx). You can choose which types of address you want to use, from the Overview tab or from the Addresses tab. Choose it from the dropdown menu.
Lightning network (lnxxxx) if possible, I suggest. With Bitamp wallet, from a single private key, you can have three options to get 3 types of receiving address list, for: standard(1xx), segwit (bxx), and P2SH (3xx). You can choose which types of address you want to use, from the Overview tab or from the Addresses tab. Choose it from the dropdown menu.
OP do you have plans to have Native SegWit (Bech32) addresses for Bitamp wallet in future?
It can help lowering fees for transactions even more than regular segwit.
When we talk about security, maybe adding 2FA or something similar can improve security for Bitamp.
It can help lowering fees for transactions even more than regular segwit.
When we talk about security, maybe adding 2FA or something similar can improve security for Bitamp.
Looks like there is more and more interest in Bitcoin and people are really asking about new wallets, and related questions. No surprise for us, as Bitcoin is now at its highest difficulty setting ever, meaning it's never been more difficult to mine! Wondering if it's still profitable to mine Bitcoin? Make sure you get a reliable wallet first;)
Check out our reddit pages for additional information or if you just prefer to hang out in a community where discussions are better handled! It's available here. Let us know how we can improve too, we really want to get some discussions going there (and here!).
Today, we answered a question about sites where you could send Bitcoin without registration.
Isn't it strange that many of us now take for granted that we all send Bitcoin easily and without any accounts? But newbies who come into the space now are bewildered by options online, not least because of so many misleading Bitcoin-branded websites!
Spread the education guys!
Isn't it strange that many of us now take for granted that we all send Bitcoin easily and without any accounts? But newbies who come into the space now are bewildered by options online, not least because of so many misleading Bitcoin-branded websites!
Spread the education guys!
Question for you guys, again inspired by one of the more common queries we get asked on Quora. What does it mean to you when you hear the word "cryptocurrencies" and "digital currencies"? We think the former is the latter, but the latter isn't the former. What do you think? Bitcoin wallet users speak up!
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