How to Use Bitcoins? Process?

[mikech]

Hi guys, I want to start using bitcoins. Is this how it works? I create an account at Coinbase and get a bitcoin address. Then when I sell something, the buyer sends bitcoin to my Coinbase bitcoin address. I can then cash out through Paypal etc.?

[mk4]

Through coinbase, I'm pretty sure you can only cashout through a bank account, and not PayPal(not 100% sure, not a user of Coinbase). https://developers.coinbase.com/docs/merchants/payouts

Though you can transfer and sell your bitcoins to a bitcoin market like https://localbitcoins.com whereas you can buy and sell using a PayPal account (take note, cuts are quite high), or whatever payment method is widely used on your country.

[CryptoBry]

Hi guys, I want to start using bitcoins. Is this how it works? I create an account at Coinbase and get a bitcoin address. Then when I sell something, the buyer sends bitcoin to my Coinbase bitcoin address. I can then cash out through Paypal etc.?

Yeah, you made it right by opening your account in CoinBase but I think you can not use Paypal to get your Bitcoin into fiat money as of now PayPal does not yet like Bitcoin (though this maybe changed later as they are now being left behind). I am lucky that here in my country there is an exchange which is providing us so many ways to convert our Bitcoin into physical cash.

[odolvlobo]

Hi guys, I want to start using bitcoins. Is this how it works? I create an account at Coinbase and get a bitcoin address. Then when I sell something, the buyer sends bitcoin to my Coinbase bitcoin address. I can then cash out through Paypal etc.?

Coinbase also has merchant services that enable you to add a pay-with-bitcoin button to a website. If you link a bank account to your Coinbase account, they will deposit money directly to your bank account.

[mk4]

Hi guys, I want to start using bitcoins. Is this how it works? I create an account at Coinbase and get a bitcoin address. Then when I sell something, the buyer sends bitcoin to my Coinbase bitcoin address. I can then cash out through Paypal etc.?

Yeah, you made it right by opening your account in CoinBase but I think you can not use Paypal to get your Bitcoin into fiat money as of now PayPal does not yet like Bitcoin (though this maybe changed later as they are now being left behind). I am lucky that here in my country there is an exchange which is providing us so many ways to convert our Bitcoin into physical cash.

What? "PayPal does not yet like Bitcoin"? Why does PayPal have to like bitcoin for people to be able to sell/buy bitcoin via PayPal?    People have been buying and selling bitcoin via PayPal through https://localbitcoins.com and a few other sites for years now.

[dlhezter]

Hi guys, I want to start using bitcoins. Is this how it works? I create an account at Coinbase and get a bitcoin address. Then when I sell something, the buyer sends bitcoin to my Coinbase bitcoin address. I can then cash out through Paypal etc.?

of course you can cash out that in any way you want. specially banks are accepting bitcoin but make sure that btc is totally legalized on your country to be sure that your bitcoin can withdraw to your bank account.

[cucuadam]

yes,you can cash out bitcoin where you want

[Mike Mayor]

Use electrum wallet for security because it let's you use a private key which it gives to you when you make a wallet. Never get paid strait into an exchange. Rather your own wallet you have full control over. You can is localbitcoins to cash out your bitcoins if you wish but I suggest saving them and even buying more. Just try pay for things with bitcoin as much as you can and the rest you pay with fiat.

[thanhswp]

Using bitcoin simple like sending an email, just create Coinbase wallet and try sending bitcoin