5. Purchase bitcoin and begin making transactions. Bitcoin can be purchased in many currencies online, from distributors like Circle and Coinbase. Some services allow you to use prepaid debit cards, while others allow you to link up your bank account to quickly make purchases. If you prefer to pay in cash, find local bitcoin exchangers in your country over at LocalBitcoins.
If you purchase bitcoin locally, you will need to provide the other party with one of your bitcoin addresses generated in step 4. If you purchase your coins from an online distributor, they will appear in your online wallet. In that case, you can either choose to leave your bitcoin in your online wallet, or transfer them to one of your wallets on your smartphone or desktop computer.
To send bitcoin from your Coinbase wallet, hit the “Send Money” link on the homepage. A new window will open, prompting you to enter the amount of bitcoin you wish to send to a bitcoin address.
To send bitcoins from Bitcoin Core, click the “Send” tab. From there, you will see three required fields.
1) This is the bitcoin address that you will be sending bitcoins to.
2) This is a label that you will associate with the transaction, i.e. payment for groceries.
3) This is the amount of bitcoin to send.
4) Once the three fields are filled out, hit the “Send” button. Please note that there is no possible way to revert a bitcoin transaction after a payment has been sent!
Now that you have installed bitcoin software, created and encrypted a wallet, know how to receive bitcoin payments, and know how to purchase and send bitcoin, you are now ready to start using bitcoin! Be sure to remember some of the tips mentioned in step #1, and never stop educating yourself about bitcoin and free markets. Welcome to bitcoin!