The big question of how to get bitcoins.
After gaining a basic understanding of what bitcoin is and how the wallet actually works, you might want to jump into the world of digital currency and get some bitcoin for yourself. So the big question comes to your mind: How can I get bitcoins?
After knowing the origin of each bitcoin, which is based on a mining process, you will believe that the best way to get them is to join this mining process. The fact is that this has become very difficult, because the rapid popularity of cryptocurrency is growing.
Sell products or services.
Each bitcoin is the result of a previous transaction. So the way to get them, when you don’t have them, is by receiving a transaction from someone else, when you buy them with cash or also by mining new bitcoins.
When you meet a person who uses bitcoins, you can ask them to get you bitcoins. In case you don’t know anyone who owns them, you can get bitcoins by offering another type of transaction only with another bitcoin user, so that you get paid in bitcoins. The alternative option is to extract them yourself.
In case you can’t buy bitcoins from someone else, you can get them by mining them. The term mining here means: solving a complex mathematical problem, the intention is to validate the transactions of other individuals. In return, you are rewarded with bitcoins. Sometimes receiving bitcoins is free, but there may be a fee for sending them, depending on the online platform you use. Before you get into bitcoin mining, you must understand that it is not an easy way to get bitcoins, it requires some technological knowledge, which may not be practical for you.
In case you don’t know anyone who has bitcoins, you have nothing to sell to exchange for bitcoins, there is a way to buy bitcoins. There are several online platforms, these sell bitcoins through a process called trading/exchange. Here are some ways to buy bitcoins:
Buy bitcoins from a person.
There are online marketplaces where you can buy bitcoins on a person-to-person scheme. You can pay these people in cash or in other ways. The best thing is that you and the seller can arrange the payment method: cash in person, cash on deposit, bank transfer, PayPal, etc. The key element here is finding someone you trust. A good tip is to use an online escrow service, this way you can protect yourself against any kind of fraud. The best thing about these online escrow platforms is that everyone should upload their scanned ID, this ensures security during transactions.
Buy bitcoins from an exchange and a point of sale.
Bitcoin exchanges or outlets are basically online services that make it easy for buyers and sellers to transact with bitcoins. To be part of one of these, all you need to do is create an account and get your identity verified before you can buy or sell bitcoins.
Buy bitcoins through an ATM.
Some cities around the world offer physical bitcoin ATMs. Only use your bitcoins using local fiat currency. Governments regulate the uses of these ATMs for security purposes. Sometimes finding a bitcoin ATM near your location can be difficult, because even the location where they are installed is regulated.