If you briefly explain how to use Bitcoin... (Episode 12)

Serial Column：Trading Virtual Currency from Scratch：Episode 12

How can you use Bitcoin that you acquired by buying on an exchange or receiving from someone?

“No, I won’t spend even 1 BTC until it reaches 1 million yen!”

There may be people like that, but please don’t forget that Bitcoin is also a usable currency…。

So, how can you send Bitcoin to someone, buy something with Bitcoin, or receive services using Bitcoin? First, you should know the two keywordsBitcoin address and private key.

Knowing these will clarify how to use it.

Bitcoin Address

Bitcoin addresses can be obtained by installing a wallet on your computer or smartphone, among other methods.

That Bitcoin address isyours alone and is unique on the globe. However, it is almost impossible to identify you personally from that address.

When sending (spending) Bitcoin, you specify this Bitcoin address and the amount to send (spend).

For example, this is one of my Bitcoin addresses.

1FHUat6tbTnLSCSgsrYcUDRCVTbYK1vCFV

It’s too long, so it can be converted to a QR code as well.


※ If you donate Bitcoin… we will use it for the official site’s operations.Official Site.

This Bitcoin address was created with the web wallet fromBlockchain.info, which I introduced before.

You can easily create an account just by setting an email address and password, so why not try handling it for practice first?

When should you 공개 it? (公開 in Japanese means "make public")

I think you would publish your Bitcoin address in the following situations.

● When receiving remittances from friends and family around the world (such as allowances)
● When accepting donations
● As a deposit address for product sales or paid services
● As a deposit address for salaries or rewards

etc.

Private Key

The private key is a long string that pairs with the Bitcoin address.

Bitcoin addresses should be published for sending, but the private key is known only to the owner.

If someone learns your private key, it is extremely easy to steal your funds, so keeping it safe and secure is very important.

On a foreign TV program, there was an incident where a QR-coded private key was displayed and was stolen in an instant…

For example, a private key is stored on your computer if you use a software wallet installed on your PC, or the wallet provider manages it if you use a web wallet.

When should you 공개 it? (Published)

● As a gift voucher or presentなど※ Basically, it is not something you publish!!

If you compare Wallet and Bitcoin

The Bitcoin address and private key pair is the Bitcoin itself, and the wallet is what manages Bitcoin.

If you compare it to email…

● Email address = Bitcoin address
● Password for the email address = Bitcoin private key
● Email client = Bitcoin wallet

You might remember it that way.

Summary

To send and receive Bitcoin, you need a Bitcoin address! But keep the private key safely!

However, for now, there are not many real-life situations where you can buy something or eat with Bitcoin. So I use it as a payment method to buy other cryptos, and for long-term investment purposes.