QR Codes, Bitcoin Basics 101

When it comes to in-person transactions, QR codes have become very popular. We’re going to go over how to create them and how to use them smartly.

Also known as a Quick Response Code, a QR code is a sort of barcode that can be read by smartphones and mobile devices with the right apps installed. Digital wallet mobile apps can scan a Bitcoin QR code which transfers a desired amount of bitcoin to that public address. The public address lies within the QR code and the digital wallet recognizes the address and processes the transaction. This is how people are using QR codes to send and receive bitcoins easily all over the world.

How to Generate a Bitcoin QR Code

Many different websites exist that will allow you to turn your Bitcoin address into a QR code that can be scanned by another person. Here’s one website that allows you to cut and paste a Bitcoin hash into a text box so you can press a button and get a QR code for that Bitcoin address. Once you’ve done it once or twice yourself, you’re going to be amazed at how easy it is to create and use them.

Once you’ve generated the QR code, it’s super easy for someone else to scan it to send or receive money. However, you need to be careful not to expose your private key QR code. For instance, a TV show host showed his private key address QR code on air and had $20 in bitcoins “stolen” when it was broadcast on television.

In another instance, an enterprising person made a sign that asked his mom to send money. He attached a Bitcoin QR code and after it was tweeted repeatedly and ended up on Reddit, he was sent around $23,000 in bitcoins. This is quite a bit of money, but it goes to show how easy it is to generate a Bitcoin QR code and to receive money from people you know or even strangers.

If you’re wanting to learn about the basics of Bitcoin, our ebook is a great place to start. We’ve compiled everything you need to know all in one place. By reading the ebook – which is just over 30 pages long – you’ll find out how Bitcoin was started as well as where it might be headed in the future. You’ll also learn about Bitcoin wallets, mining and much more. Check it out today if you’re a beginner to bitcoins.

Welcome to Bitcoin Basics 101. Our Mission is to EDUCATE the Public on Bitcoin and all things related to Digital Currencies! Have feedback? Please contact us via the Contact form to the right.

We’ve taken everything you need to know about Bitcoin and compiled it all in a single place. Once you’re done with the website, be sure to check out our Bitcoin Basics ebook. It has even more information about cryptocurrency.

Take a look around the website, and when you’re ready to learn more, you can download our ebook about the virtual currency that has everyone – including the mainstream media – talking. We’re here to help everyone understand the ways money are changing in the modern world.

Related video: How to do Automated Bitcoin Algo Trading via BTC-e Trade API

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