Beyond Bitcoin...Stellar Lumens (What is it and how to use it)

 

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"But if I wanted to buy Bitcoins in Italy and keep them there, how do you do it?" My answer is: “first of all, do you know what Bitcoins are? And anyway ... it's easier than you think "

 

When we talk about Bitcoin, we are talking about a cryptocurrency, that is a parity currency existing exclusively on the internet, based on the principles of cryptography and suitable for making transactions between individuals or with companies that accept this type of payment.

 

Bitcoin is the most widespread cryptocurrency in the world, born in 2009 by Satoshi Nakamoto, a pseudonym that many believe to hide a group of subjects who gave birth to this coin. The main feature is the absence of a central authority that monitors, controls, influences and determines the circulation of this virtual currency. The system on which it is based is Peer To Peer, the same used for exchanging files between users from all over the world.

 

Each transaction and each holder of Bitcoin is recorded in special databases, which are present in each node that participates in the creation of the network. That is, the computers of subjects that make up the Peer to Peer line have the same information on transactions and Bitcoin holders, so that no one can take any fraudulent action to ensure a bogus possession of the virtual currency. The operations can be consulted by users as a form of guarantee for those who want to carry out actions with Bitcoins, nevertheless the anonymity of the subjects who want to carry out transactions can be guaranteed. Purchases of this virtual currency can take place without spending one's name, it depends on the level of privacy required by those who sell Bitcoins. To own Bitcoin, it is necessary to have a digital wallet called a wallet, without which one cannot boast of ownership of the virtual currency.

 

The digital wallet

 

As analyzed, you cannot have Bitcoin without the presence of a digital wallet, which will store the possession, transfer and transition of this currency, sending the related data to the nodes so that they too can store the information. To create a wallet, i.e. a digital wallet, you need to download one of the software on the network. Once the software has been downloaded, just install it, as soon as it is finished you must proceed immediately with the encryption, an action that guarantees the security of the digital wallet. As soon as this procedure is completed, when the program has downloaded the information from the internet, you can proceed with the purchase of Bitcoin. It may also happen that you do not have a customer wallet, using a third party, who may have the function of a broker, who buys and sells the virtual currency on their own behalf. Nevertheless, the possession of a digital wallet also guarantees the ownership of the Bitcoin, without the need to enter into private agreements between the buyer and the intermediary.

 

The purchase of Bitcoin and other cryptocurrencies can be carried out on specialized, safe and reliable sites that allow them to be bought and sold.

 

There are several of these online services, but the most used and reliable are: BitPanda, Exmo, which allow payment methods such as bank transfer and Paypal.

 

The safest way to buy cryptocurrency is to use a stockbroker (also called an exchange). Exchanges are entities that carry out this activity, ensuring the safety of the transition by purchasing in your name and on your behalf.

 

The best are Coinbase and Therocktrading, which admits Italian on its platform having been founded by Italians. Coinbase, located in the United States, is widely used worldwide. The third method is the purchase between individuals, by contacting subjects who sell their Bitcoins at sites and forums (this procedure is the least secure of the three, since it is easy to get involved in a scam).

 

The best way to buy cryptocurrency is the exchange, which is reliable by retaining a commission on the operation. It is also advisable to check before purchasing what value the Bitcoin has in terms of current currency, that is, how much each individual unit is worth to be more certain about the value of your investment.

 

While remaining in Italy, the simplest and safest way is certainly Conio which allows you to buy and sell Bitcoins, authorize and receive payments.

 

What does

 

It transform your smartphone into a Wallet so you can keep safe, send, receive, buy and sell Bitcoins in a simple and immediate way, thanks to the Conio app.

 

Who is it for

Conio can be used by anyone over 18 and in possession of an Android or iOS smartphone that supports the app and has a valid phone number. It is not necessary to be a customer of a bank: it is possible to create the Conio Bitcoin Wallet even if you do not have a current account, to buy or sell Bitcoins, however, you must have a valid identity document and a credit card, debit or prepaid card. also PostePay, with 3D secure enabled.

 

The 3D Secure service, "Mastercard SecureCode" for Mastercard cards and "Verified by Visa" for Visa cards, is a security protocol that combines the payment card with a 6-digit "disposable" security code sent via sms on your certified mobile phone. This temporary code is required to authenticate the online payment on all 3D Secure affiliated sites.

 

How does it work

The Wallet Screen allows you to see your Bitcoins on the screen by quickly checking your wallet balance. It is possible to view your Bitcoin address, thanks to the "Send" button you can pay for purchases and send Bitcoins to anyone with an address, including shops and e-commerce. The "Receive" button, on the other hand, shares the address with whoever you want to receive Bitcoins. It is also possible to view past movements and see if there are any upcoming Bitcoins. The Market Screen allows you to always be informed in real time on the value of the Bitcoin. Thanks to the "Buy" button, it is possible to buy Bitcoin from Conio directly through the app, with the "Sell" button it is possible to sell Bitcoin to Conio to receive euros in exchange at any time. To choose when to buy or sell, you can check the trend of the currency over time, directly finding the calculation of the increase or decrease in value, for each chosen time frame.

 

What are the advantages over other similar applications

Ease of use is the first point in favor of Conio Bitcoin Wallet. The second point is represented by the extreme level of security, managed by a 3-signature system: many wallets instead use a single signature. The user is in possession of the first signature: when you use the PIN Code in your Bitcoin Conio Wallet you are in fact issuing your personal signature.Conio has the second signature and can intervene at the user's request, for example to block the wallet if your smartphone is lost or stolen. Conversely, in the event of any intrusions into Conio's systems or in the event of identity theft, the "thieves" would not be enough to use Conio's signature to get the user's Bitcoins: they would also need your authorization. The third signature is a sort of parachute and is isolated in an archive not connected to the network, inaccessible via the internet, accessible only with the user's authorization. It is useful if you forget your PIN code, password and also the Bitcoin recovery code. Conio also offers the advantage of the so-called "compliance": the company that created and manages the app is Italian, and therefore by purchasing Bitcoin from an Italian company, tax management is greatly simplified.

 

How much Downloading the app

Registering and creating your own Bitcoin Conio Wallet is free. The use of the Wallet is free. To send and receive Bitcoins, only the Miner commission is currently paid while the Conio commission is 0%. To buy and sell Bitcoin the commission of the Bitcoin Conio Wallet is currently 0% and you only pay the commission to the Miners. The Mining Fee is what guarantees the transaction and is required to use the Bitcoin network: it is a reward for the "miners" ("miners" in English), that is, those people or companies who enter transactions to inside the network to include it in the Blockchain correctly. This is how certified Bitcoin exchange is made possible. The amount of the commission changes: there is no fixed commission to be applied but, the higher it is, the more likely it is that the payment will be confirmed with priority over others. The Miners are independent from Conio, but Conio calculates the commission from time to time with the best cost / speed ratio of the transaction. When you enter the amount to be sent or sold, the automatic calculation of the Mining Fee is therefore found next to the amount entered.

 

How to open an account

Creating your own Bitcoin Conio Wallet is quick and easy https://www.conio.com/it/ First move: download the Conio app from the App Store or Play Store for free on your smartphone (estimated time: 1 minute). Second move: register (estimated time: 5 minutes). How to do it: on the main screen select "Register", then type your e-mail address and choose the password respecting the characteristics required for security, then enter your phone number and tap the "Send Confirm Code" button .

 

You will receive an SMS with the Confirmation Code, sent to the selected phone number. It will then be necessary to enter the Confirmation Code in the appropriate space and tap "Create Account": here is the Minted Bitcoin Wallet automatically. Where to find more information Already on the home screen of the site you can see, at the top right, a "Help button" that refers to Conio Assistance: here, divided into different sections (Glossary, Wallets, Registration, Wallet Security, Wallet Update and Deactivation, Payments, Features and costs of Bitcoin, Regulations, Screenshots) there are questions and answers to the most frequent doubts. Also on the home screen of the site you can also start a chat for more information or to submit any app problems. Who to ask for support Change of phone number? Difficulty opening your account? Lost or stolen phone?

 

Don't panic: Conio provides assistance directly from its app, thanks to the support screen that allows you to contact Customer Service for free and directly (active from Monday to Friday from 09:00 to 18:00). Another way to ask for assistance is by sending an email to support@conio.com.

 

As you will have understood, in Italy and for an Italian interested in buying and keeping Bitcoins over time, Conio is certainly the simplest and most convenient way.

 

Happy Bitcoin!

 

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