Mid-Island Bitcoin

Getting started with bitcoin

A sensible path for someone new. Go at your own pace, and ask for help at any meetup.

Cathedral Grove, near Port Alberni

  1. Get a wallet on your phone

    Install a wallet app to send and receive small amounts right away. Ask at a meetup and people will show you the ones they use. It's the easiest way to try paying for a coffee or receiving from a friend.

  2. Get your first sats

    Buy a little from someone at a meetup, or from a reputable exchange. Start small while you learn.

  3. Learn what a seed phrase is

    Your 12 or 24 words are your bitcoin. Write them on paper or steel, never in a photo, email or cloud note, and never type them into a website.

  4. Move savings into self-custody

    Once you hold more than you'd keep in your wallet as cash, move it to a wallet where only you hold the seed phrase. Ask at a meetup and someone will walk you through it.

Where to get bitcoin

From a neighbour

The most private way to get bitcoin is from someone you know. People trade at meetups, in person, at market rates. Meet in public, start small, and only trade with people you trust.

From an exchange

If you'd rather use an exchange, choose a reputable one that sells only bitcoin and lets you withdraw to your own wallet. Withdraw once you've bought; don't leave savings on an exchange.

Not from an ATM, ideally

There are bitcoin ATMs in Nanaimo and Qualicum, but most charge 10% or more above market price. Use one in a pinch, and check the rate first.

Holding it yourself

Spending money

A wallet app on your phone is fine for what you'd carry in your pocket. It's quick and works at local merchants that take bitcoin.

Savings

For anything you'd be upset to lose, make sure you hold the keys yourself and your seed phrase is backed up safely offline. If your phone is lost or broken, those words are how you get your bitcoin back. Come to a workshop and we'll help you set it up.

Learn it hands-on

It's easier with someone beside you. Bring your phone to a meetup and we'll walk through it together.

See upcoming meetups