Buy and receive your first satoshis

This post is part of the fastest, most efficient learning path for people who want to get up to speed on Bitcoin, whether that’s for making an investment or transitioning to working in the industry. Read the main post here.

Image: Azteco and Wallet of Satoshi

For your first activity of the learning path, you will:

  • download an app on your phone to store your bitcoin,
  • buy your first satoshis privately and securely from a friend or using a voucher system, then
  • receive those satoshis using your app.

The app is called Wallet of Satoshi. The voucher system is called Azteco.

To go through this curriculum using proper learning software (and not Medium), enroll in my free Teachable course.

To dialogue and do the activities in this learning path with me and a group of your peers, join a live cohort here.

The activity

There are two different methods I recommend for buying your first satoshis. Instructions for each are listed below.

Buying from a friend

The walkthrough video for the buying from a friend method is in my free Teachable course. Enroll there to view the video.

Here are the steps for buying from a friend in written form:

  • Find a friend or acquaintance that owns bitcoin. Bitcoiners are often happy to help you out by sending you satoshis without you having to sign up for a Bitcoin exchange (often slow and requires giving up identifying information). If you can’t think of a person like this top of mind, join a live cohort here or skip ahead to the Azteco method below.
  • Download Wallet of Satoshi on your phone.
  • Open the Wallet of Satoshi app.
  • Click RECEIVE.
  • Ensure Lightning is highlighted in the top left corner of the app (it should be by default).
  • Type in the amount of satoshis (a.k.a. sats) you wish to buy from your friend. For this learning path, I recommend buying at least $10 worth. Use this satoshi to USD converter to determine how many sats that is currently.
  • If your friend is with you, show them the QR code on your screen. Let them know this QR code is for a Lightning transaction (a specific type of transaction you will learn about later). They will scan the QR code using their wallet app to send you satoshis.
  • If your friend is not with you, tap SHARE then send them the QR code using your preferred communication app. Alternatively, tap the QR code to copy a string of characters, then go to your preferred communication app and paste the string of characters and send it to them. The string of characters will start with lnbc and will be a few hundred characters long. They will paste the string of characters into their wallet app to send you satoshis.
  • Confirm you received your satoshis, then pay your friend using dollars (or whatever currency you want to use) using whatever method you find most convenient.

Buying using Azteco

Azteco is a voucher system for buying bitcoin. Their website description:

Azteco is Bitcoin for everybody. Go to your local store and buy a top up voucher just like the ones you’re used to. Enter your Voucher number to redeem.

Here are the steps for buying using Azteco in video form:

And here they are written out:

Getting a voucher

  • Go to Azteco’s Find a vendor page and see if there is an Azteco vendor near you. Click the vendor you want to go to. Follow the instructions in the information tab that pops up. (Note: the instructions vary depending on which country you are in and which vendor you click.) Go to the vendor and pay for your voucher. (Note: this may be an intermediate voucher that you need to redeem on Azteco’s website first to get your actual Azteco voucher. If it is, go to Azteco’s Redeem page, then enter your intermediate voucher code to get your actual Azteco voucher.) Keep your newly acquired voucher safe and move directly to the Receiving your bitcoin section.
  • If you can’t find a vendor on that page, go to the Pay in Person page, then select your currency from the drop-down menu. (If your currency isn’t listed there, you won’t be able to use Azteco to buy bitcoin at the moment, though you may in the future as they scale up their business. If you also can’t purchase bitcoin using the Buying from a friend method above, join a live cohort here to do this activity with me and a group of your peers.)
  • Select Lightning voucher.
  • Select your currency from the drop-down menu.
  • Specify the amount in your currency that you want to receive. For this learning path, I recommend buying at least $10 worth (or equivalent in your currency).
  • Type in your email. Azteco notes on their website: “We don’t store any personal information longer than required to fulfill your order, after which we delete that information.”
  • Click Get Your Barcode. Azteco will email you a barcode that will allow you to get a voucher from a physical store.
  • Open the email Azteco sent you. Click Order Details. Follow the instructions in the webpage that opens. There are various ways of paying for a voucher using this barcode — select the one that is best for you and pay for it. (Note: this may be an intermediate voucher that you need to redeem on Azteco’s website first to get your actual Azteco voucher. If it is, go to Azteco’s Redeem page, then enter your intermediate voucher code to get your actual Azteco voucher.)
  • Azteco will send you your voucher via email. Keep your newly acquired voucher safe and move directly to the Receiving your bitcoin section.

Receiving your bitcoin

  • Download Wallet of Satoshi on your phone.
  • Open the Wallet of Satoshi app.
  • Click RECEIVE.
  • Ensure Lightning is highlighted in the top left corner of the app (it should be by default).
  • Click SCAN.
  • Scan the barcode on your Azteco voucher (either in printed out form from the store, or in the form on Azteco’s Redeem page).
  • Confirm you received your satoshis in your Wallet of Satoshi.

That’s it for this activity.

To go through this curriculum using proper learning software (and not Medium), enroll in my free Teachable course.

To dialogue and do the activities in this learning path with me and a group of your peers, join a live cohort here.

The content above provides education as to general privacy and security practices when using bitcoin. Should you choose to apply the practices described with bitcoin you own now or may purchase in the future, you do so at your own risk, and I shall in no event be liable for any loss suffered. Nothing shall be construed as providing consulting, financial advice, or general advice as to securing bitcoin.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store