Hello in this lesson, we are going to cover how to use Bitcoin. So you've learned a lot about Bitcoin and cryptocurrency about blockchain. But ultimately, if you can't use it or you don't know how to use it, it's effectively useless to you as an individual. So one of the first things you want to do is create and exchange accounts. So you want to create an account on an exchange. There are plenty of other exchanges out there from Coinbase to cx.io.

To blockchain dot info, there's a plethora there for all your needs, whether you want to do small transactions or large transactions, check them out. There's plenty out there and it will also will also A wallet. Well, essentially your wallet live functionality, it is going to be centralized. So you can alternatively create your own wallet. The whole purpose of this video is to show the easiest way possible to start using Bitcoin and essentially other cryptocurrencies to essentially replace a lot of the daily things you do with conventional fear currently with that physical or digital, ultimately this will replace the digital aspect of it. So once you've got an exchange, you can which is the equivalent of a bank account essentially, who, that's the best way to think of it.

You're creating a cryptocurrency a Bitcoin bank account, then you want to create or retrieve you're public address. And you can think of the public address, like an email, for example, an email is unique. It's unique to whoever runs and has that email address. So if I have the email address, and then No, I am awesome@hotmail.com, that's my email address, nobody else will have that email. So it's a unique ID that will facilitate the trend like the public transaction. So if I wanted somebody to send me some Bitcoin, I would share my public address with them, and they will be able to send something to it.

So you want a public address, so you can actually use it with other users on the network. Next, what you want to do is Buy some Bitcoin buy some Bitcoin or other cryptocurrencies using normal fear, currency and you would ultimately do this via the exchange which would facilitate the process of well exchanging one currency for another that can be fear currency, or it can be one cryptocurrency to never cryptocurrency, but at the start you'll most likely be exchanging fit to a cryptocurrency such as Bitcoin. The next thing you can do and this is something that I find a lot of people don't know about is you can apply for a Bitcoin, debit card. And there's actually a lot of services out there. They all have their own different features. The same way different bank accounts have their own features regarding debit cards, different transaction fees, and different other essential benefits as well.

But you can get a debit card, which will allow you to use your bitcoins, in any outlet or any place online or in the real world that accepts a regular debit card which there are plenty of places around the world that accept debit card call, I pretty much only use debit cards, I very rarely use cash. So from an actual day to day standpoint, you could actually replace your fear currency purely with cryptocurrency. So applying for a Bitcoin debit card is definitely something that you should be looking into local centers, plenty of embassies out there to help facilitate this. So that will get you up to scratch and up to speed with the way you normally do your banking. But let's talk about some of the extra features that you can do with crypto currencies such as Bitcoin, but on that aren't available in fiat currencies.

So I would say, get some mining software. Small miner is one that I like, because it allows you to mine multiple different currency type, not just Bitcoin for aetherium, Litecoin and plenty of other coins and you will actually assess the difficulty and the hash rate at any given time and you're mining the coin that's the most effective so get mining software and more info more. Obviously, depending on how serious you are about mining, you might actually build your own mining computers. There are specific for mining, but if you're just looking into it, it's still something worth taking a look at. If you're a beginner you'll learn a lot about the cryptocurrency landscape. Obviously we said you can apply for a Bitcoin debit card, which ultimately allows you to use Bitcoin the way you would use conventional fear currency.

But I would also recommend finding online and offline retailers that accept Bitcoin because if you can avoid the debit card which has its own fees, it will be more beneficial to you because you're well avoiding fees finding an online offline retailers that accept Bitcoin or any other cryptocurrency of your choice, and more thinking, what is offline and online? Online is websites. So services that you just be able to visit in your browser offline or physical stores. And there are physical stores out there. If you just Google it, you'll be able to find even local ATMs and physical stores that facilitate the usage of cryptocurrencies, such as Bitcoin. So there's a couple of other things that you could look into as well in terms of using Bitcoin.

And that is, as you can see, we were going from very simple stuff that essentially facilitates the normal economic activities but using bitcoins currency to more specific applications of cryptocurrencies and then we'll go into even more complex applications. So you could trade Bitcoin. And there have been a lot of people that have made millions of trading Bitcoin. And what you can do is make money from the difference. Obviously, this is very risky. And you need to do a lot of research in the way the markets are, and the way you think they'll be going.

And they are very volatile at the moment. But it's essentially the equivalent of trading stocks and bonds and shares. So if you're interested in that, or you already have a grasp of that, check out trading cryptocurrencies, because if you can master this, there's a lot of money to be made due to all of that volatility. So we've got the conventional stuff we got but in mining, we've got the trading aspect of Bitcoin and the last thing I'll say this is the most important that you need to actively do not study. blockchain which is the underlying technologies of Bitcoin and many other cryptocurrencies and crypto currencies in general, that is the best thing. So, do all other things like create an an exchange account, which is the equivalent, but bank account, carry public address, find retailers that accept the cryptocurrency of your choice, apply for a debit card, look into it, but ultimately study it so you can learn about the new advancements in it.

You can learn about the market, what areas are working, because ultimately, all the other things that I mentioned in this video, you will learn a lot of it just by studying blockchain and cryptocurrencies. So you'll learn about trade and you'll learn about The retailers and all the other stuff. So that's it. If you have any questions, feel free to reach out. And feel free to go for the video again to check out any concepts that you didn't quite grasp. And as usual, thanks for watching, and I look forward to seeing you in my next lesson.