Silk Road forums
Discussion => Newbie discussion => Topic started by: XMenNewb on September 24, 2013, 06:39 pm
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Hello, I'm new here and I'm looking to buy as soon as I feel safe and secure about proceeding. I am playing it safe as I don't want to make any mistakes. Which is why I am here with a few questions.
1) Is my SR account considered a wallet to store my bitcoins?
2) Is the address I find in my account where it says "Click here to make a deposit" the same as the "receiving address" that I will need to provide when making a bitcoin purchase?
3) Do bitcoin exchangers create a wallet (or some account) to hold your bitcoins after purchase? What would you recommend when it comes to maintaining your personal bitcoins?
3) How exactly do I use the escrow system? I only see the options "withdraw bitcoins" and "send bitcoins to another member." How can I make sure my funds are in escrow before the funds transfer to a vendor?
4) Lastly. As of this moment I am only interested in purchases. What are the potential benefits to learning PGP?
I've had read the FAQs and spent a decent amount of hours on the forums. I just want to extinguish all the doubt and inquiry that I have before I proceed in these transactions. Safety is something I don't want to take lightly.
Thank you in advanced,
-Newb
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1) Yes it is
2) The address you need to send them to is found on http://silkroadvb5piz3r.onion/account
3) Most do, you can have dollars, bitcoins or other currencies there and trade or transfer when you want
If you inted to keep lots of coins, you should probably download and install your own wallet with the bitcoin client rather than trust any online service
3.5) You just make the purchase and the funds go into escrow automatically
4) Most vendors require all communication be encrypted. Learning to use PGP takes a short while but it's a big plus for security.
Without it you're posting your name and address in cleartext and there is a possibility that someone unwanted might read it.