Introduction

I remember years ago when digital currency was still in much of its infancy stage. It was 2005 and Pay Pal was all the rage. At the time I had been buying, selling and trading comic books on e-bay. It wasn’t a bad side gig, I was able to make some good deals with certain collector items and soon I had a bit of a following on the e-bay trading site. But then I started having some problems. In particular, I started having some digital currency problems.

 

I remember one extreme moment of frustration in particular when I had just made what I thought was a great sale only to have the whole floor ripped out from underneath me. It was a fairly valuable fantastic four comic from 1964, not one of the most important copies, but valuable nonetheless. I got a buyer who promised to purchase this thing from me for $500. I was pretty happy with that, I figured that was better than I would be able to get just hawking the thing at the local comic book store, so I said, “Yes.”

 

But then disaster struck. I had already mailed out this guys comic book when I received a notice that he had went back on his agreement and pay pal was sending him back his funds immediately. I almost had a heart attack. You see, back then I didn’t know much about digital currency or digital wallets. I didn’t even know this guy would be able to reverse funds like that. I thought that once it went through, it was mine. That’s why I didn’t hesitate to send what I believed he had just purchased.

 

It happened that fast, the money that I thought I had from a verified purchase had just slipped through my fingers 5 minutes after mailing the product out. I thought to myself, “This is no way to do business!” This story didn’t end very well either. Because although my wonderful comic book client had reversed his funds back, he never did send me that comic book and I was still out $500.

 

Charge backs like this can be a merchant’s worst nightmare and these were pretty common back then, but that was ten years ago and now we have Bitcoin. One of the best things about Bitcoin from the merchandising perspective is that once a transaction is made you can rest assured that it is legitimate. And all sales are final; there will be no last minute reverse of funds.

 

When Bitcoin was born in 2008, no one suspected how much it would change all of our lives. Now looking back at my excursions with E-bay and Pay-Pal back in 2005, it really seems like some sort of primordial Stone Age of business. Because, Bitcoin presents so much promise to not only revolutionize how we do business but to transform many other aspects of our lives as well. Bitcoin is not just a digital currency used for online commerce; Bitcoin is a new way of life.

Transferring Bitcoin

Essentially there are three ways to transfer bitcoins; through middle men, currency exchanges, and person to person transactions. Just like through the traditional banking model. When you conduct your bitcoin business through the use of middle men or as they are known, “Bitcoin Exchange Intermediaries”, you are using a highly knowledgeable third party that handles all of the more complex technicalities of the exchange.

 

In exchange for their customer service and knowledgebase you will most likely be charged a fee for their services, these fees usually run anywhere from 1 to 10 percent. This may cut into your overall bitcoins but will save you a bad headache in the end since all of the technical aspects of the exchange will be placed on their shoulders and not yours.

 

If you are worried about paying a sizable fee one way to circumvent this is to utilize a “Bitcoin Exchange”. These exchanges work to directly connect people who are buying and selling their bitcoins. Although you avoid a fee this way, the downside is that all of those complicated technicalities that you would have been shielded from when using a middle man type service are in the forefront for you to figure out!

 

For this reason using a Bitcoin Exchange can be somewhat intimidating to a fresh bitcoin user. It is precisely due to the fact that you deal with all of this on your own that exchanges cut the price so significantly. So if you can deal with some of the headache of managing this stuff on your own this is the way to go, but if you need a little extra help you would most likely be better off just paying the fee to have a middle man do the work for you.

 

Currently the most popular Bitcoin Exchange platform out there is that of “Coinbase”. Operating out of the United States, Coinbase has users sign up for their service online. To create an account with them all you have to do is create a user name and a password. After this Coinbase will send a confirmation to your e-mail address and you are good to go.

 

Now you can start buying some bitcoins, just log into Coinbase and select the amount of bitcoins that you want and then click on “Buy Bitcoin”. The funds will then be transferred out of your bank account and in just a few days after purchase your money will then resurface as bitcoins. You will then receive an e-mail to notify you that your bitcoins have been placed inside of your Coinbase wallet.

 

If you are primarily using your smart phone to conduct transactions with Coinbase you can set up a “Two Factor Identification” system. The best way to do this is to download an app on your phone that will handle all of the security features and other essential protocol for the transactions that you will be conducting.

 

Basically what this method does is that it marks your phone, identifying it by phone number, proving that this phone is indeed associated with your account. With this established all you need is a coinbase password and your smart phone and you are ready to conduct transactions.

 

To make this process even easier Coinbase has the novelty (and the good business sense) to have their very own app called, “Authy” available for download from the Google Plat store. After installing this app all you have to do is enter your phone number and verify your e-mail address and then you can log into Coinbase, link up your phone and then ready to transfer some bitcoins!

 

If you aren’t too sure about using a third party wallet however, I would recommend taking the bitcoins out as soon as possible and putting them in your own self-managed wallet. Taking the bitcoins into your own wallet will of course reduce your third party risk down to zero and when your absolute risk is down to zero percent those are certainly good odds. So I would recommend transferring into your own self-managed, personal wallet as soon as possible. With it working sort of in a combination of buying and trading; it’s good to be able to use an efficient, verified and knowledgeable platform like Coinbase.

Darknet

 

A great many people are confounded about what precisely the Darknet is. Firstly, the Darknet is in some cases mistook for the Deep Web. ‘Profound Web’ alludes to all parts of the Internet which can’t be recorded via web indexes, thus can’t be found through Google, Bing, Yahoo, et cetera. Specialists trust that this Deep Web is many times bigger than the ‘surface Web’ (i.e., the web you can without much of a stretch get to from Google).

 

This sounds dismal, however truth be told the Deep Web incorporates substantial databases, libraries and individuals just sites that are not accessible to the overall population. The vast majority of the Deep Web is made out of scholarly assets kept up by colleges and contains nothing evil at all. On the off chance that you’ve ever utilized the PC list at an open library, you’ve touched the most superficial layer of the Deep Web. Elective web crawlers are accessible which can get to parts of the Deep Web, however, being unindexed, it can’t be exhaustively looked completely, and numerous Deep Web record ventures fall flat and vanish. Some Deep web crawlers include: Ahmia.fi, Deep Web Technologies, TorSearch and Freenet.

 

The ‘Dull Web’ or “Darknet” is a piece of the Deep Web, since its substance are not available through web crawlers. Yet, it’s something more: it is the mysterious Internet. Inside the Darknet both Web surfers and site distributers are completely unknown. Whilst huge government offices are hypothetically ready to track some individuals inside this mysterious space, it is exceptionally troublesome, requires a gigantic measure of assets and isn’t generally fruitful.