Need some Bitcoin help for a digital currency newbie......

thebeav

Hi Folks,
I have an account on a site that I have to close. It's only got a 500 dollar balance, but the company will only pay me in Bitcoins. So, I need to get myself a 'wallet'. I've just looked at the Bitcoin.org site and I see that there are 8 or so different 'wallets'. I suppose I would just use that money to buy things on Amazon, possibly ebay, or some other common sites. Can you give me an idea of which wallet I should sign up for ?
I appreciate the help.

291fifth

What kind of a site only pays in Bitcoins? If they owe you 500 real US dollars they owe you 500 real US dollars, not Bitcoins.

TwoSides2aCoin

" The block chain gang reserves the right to be quiet. ". Said a coin geek, once.

ShadyDave

These two links may help you: https://en.bitcoin.it/wiki/Main_Page and https://www.weusecoins.com/

I strongly suggest you use a cold wallet, but I'm not sure you know enough to get everything up and running. If you are just looking to get rid of the bitcoins, maybe just buy some silver from JM bullion and convert it to cash if that's what your end game is?

1630Boston

I have no idea, but will listen and learn here

thebeav

Hi Dave,
Thanks for the suggestion. I don't see a 'cold' wallet. they have these names, Bitcoin Core, Bitcoin Knots, BitGo, Electrum, GreenAddress, ArcBit, mSIGNA, Armory, and Bither.

Batman23

@1630Boston said:
I have no idea, but will listen and learn here

Same here.

Let us know how it works out.

ScarsdaleCoin

So not everyone takes all crypt. However I believe Provident Bullion is back accepting Bitcoin. My suggestion would be to take it and cash out asap for some silver and just move on.

thebeav

Thanks Jon. That's probably what I would do. I don't have a lot of interest in a cryptocurrency that's trading at it's peak value.
I'm getting the wallet thing figured out a little bit. Some of them are for android, some Microsoft and some Apple.....

ricko

Wow... I would not like that ... to be offered payment only in bitcoin... I do not trust the whole cryptocurrency thing anyway.... I think it will implode..... get your money out quickly.... Cheers, RickO

Cakes

@ricko said:
Wow... I would not like that ... to be offered payment only in bitcoin... I do not trust the whole cryptocurrency thing anyway.... I think it will implode..... get your money out quickly.... Cheers, RickO

If you can afford to not have the $500 I would let it ride.

thebeav

Well, I settled on the 'electrum' wallet. Got it downloaded, waiting for the deposit to arrive. Boy, this Bitcoin seems so volatile. It was 4 grand a pop yesterday afternoon and 35 hundred this morning. It'll be an experience.....

ChrisRx

@thebeav said:
Well, I settled on the 'electrum' wallet. Got it downloaded, waiting for the deposit to arrive. Boy, this Bitcoin seems so volatile. It was 4 grand a pop yesterday afternoon and 35 hundred this morning. It'll be an experience.....

If you hate it now, wait til you try it.

TwoSides2aCoin

I only hope it doesn't turn out like a bad marriage.

thebeav

The transaction was completed yesterday. I now have a wallet with a partial bitcoin in it.
Now, I can either speculate or dump this off somewhere.