If you’re new to using bitcoins, it will likely be a bit of a learning curve once you start using them. One of the most important things to remember, is to always double, and triple-check the addresses you’re sending/receiving bitcoins to.
Far too often, people don’t receive their bitcoins because they’ve entered one digit wrong in the string of letters and numbers that makes up the Bitcoin address. To avoid this, always copy and paste the address – and ALWAYS double check that it’s correct before clicking send.
The way Bitcoin works means it’s impossible to get back lost bitcoins in the event that anything goes wrong, so it really is worth taking a few seconds to double check everything.
Another thing that you’ll want to look out for, is Bitcoin’s transactions fees. While Bitcoin is free to use, a tiny percentage of every transaction is put towards keeping the Bitcoin network up and running, and while insignificant for the most-part, there is a reason why you’ll want to take note of this fee.
Due to congestion on the Bitcoin network (which means multiple transactions being made at once), it is possible for the network to become clogged up. This basically means transactions take longer to complete, and you could find yourself waiting a few hours for payments to complete.
To help avoid this situation, it’s possible to set a dynamic Bitcoin fee, which basically prioritizes your payment. This isn’t possible through all types of wallet – for example, most exchanges don’t allow for it – but if you’re using a downloadable desktop-based wallet, you can always raise the fee – and most wallets allow you to control a slider, which sets the fee at “high”.
Doing this isn’t always recommended, as you can actually end up paying quite a bit, but in times where the Bitcoin network is heavily congested, it can be beneficial, especially if you don’t want to wait around long for your transaction to complete.