First time buyer, questions before I screw up

1

I am wanting to buy BTC to buy goods but things are a bit confusing to me.

First off, would I be better off buying from someone or a website, or use an atm? Once I purchase the BTC what is the best place to store it? I don't want to link bank accounts and all that which is why I think using an atm would be best.

If I do use the atm here locally do they just give me a QR code and if so what's the best mobile app to use to get my coins where I can spend them? I've read the FAQs around I'm just still a bit confused.

All help is greatly appreciated

BK82786

Posted 2016-02-09T07:06:49.400

Reputation: 11

As you can tell I'm still new and learning when it comes to this. I figure the atm locally would be my best bet without needing a debit card or a bank account. I'm confused how I get the coins on my account to spend once I've bought them from the ATM – BK82786 – 2016-02-09T07:35:32.287

possible duplicate of How do you obtain bitcoins?

– Murch – 2016-08-10T15:21:24.327

Answers

1

Yes, if you don't want the hassle of registering or giving your details to a website an ATM would be the better choice. Note that ATMs usually charge more than an online exchange.

They give you a bitcoin address and its QR code as well as a private key and its QR code.

The private key is all you need to have control and access of your coins on that address. The private key can be used to calculate the public key and the latter can be used to calculate the bitcoin address (which as I mentioned is given already for convenience).

Two very good mobile wallet apps are Mycelium and Airbitz. You can use the wallet app to scan the private key QR code and have complete access to that address (ie. send coins elsewhere). If you scan the address QR code you can check the balance of that address but not spend any coins from it.

karask

Posted 2016-02-09T07:06:49.400

Reputation: 2 089

So the atm route is best with no bank account. And I would still be able to put the coins on the account and also send coins to someone with no problems? I'm really new to this abd trying to learn all I can before I go spend a couple hundred dollars and end up not knowing what to do. I don't mind using a wallet on my pc, it's just the atm is 45 minutes from me and I'd hate to buy them and get home only to have something go wrong. Thank you for your help – BK82786 – 2016-02-09T08:34:55.987

Also, the site I an using has an account associated with my login. Would I need to buy the coin, transfer to my wallet and then send it to my account on there so I can send it to the vendor through the site? I'm going to bee spending a good chunk of money, at least for me, so this is why I'm asking all these questions. I've read faq pages but they aren't in depth enough for what I'm looking for. Also, motor addresses would be multiple accounts would it not? Man I'm thankful for this forum – BK82786 – 2016-02-09T08:54:41.940

1The ATM would put the coins to a bitcoin address (I'd rather not say account, but you can think of it as one if it helps). That address will already have the coins, you just need a way to access them. With Mycelium (or any wallet, mobile or desktop) you can scan/import the private key and that will allow you to send bitcoins to buy something online directly from that wallet. There is nothing extra that you need to buy stuff online. To buy stuff you just send the appropriate amount of coins to the bitcoin address of the vendor. – karask – 2016-02-09T10:04:21.223

Asked: 2016-02-09T07:06:49.400

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Active: 2016-08-10T15:01:45.187