The big question how to get bitcoins.
Once you have a basic understanding of what Bitcoin is and how the wallet really works, you may want to step into the world of digital currency and grab some Bitcoin for yourself. So the big question arises in your mind: How to get Bitcoins?
It’s getting hard.
Once you understand the origin of every single bitcoin that is based on a mining process, you will believe that the best way to get them is by joining that mining process. The thing is, this has become very difficult as the popularity of cryptocurrency is growing rapidly.
Sell products or services.
Every single bitcoin comes as a result of a previous transaction. Thus, the way to get them when you don’t have any is by getting a transaction from someone else when you buy them with cash or also by mining new bitcoins.
When you know a person who uses bitcoins, you can ask them to take 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, as a result of which you get paid in bitcoins. The alternative is to mine them yourself.
In case you cannot buy bitcoins from someone else, you can get them by mining. The term mining here means: solving a complex mathematical problem, the intention of which is to confirm the transactions of other persons. In return you get bitcoins. Receiving bitcoins is sometimes free, but a fee may be involved for sending them, depending on the online platform you use. Before you start mining bitcoins, you should understand that this is not an easy way to get bitcoins, it requires some technical knowledge which may not be practical for you.
In case you don’t know anyone who owns bitcoins, you have nothing to sell to exchange for bitcoins, there is a way to buy bitcoins. There are several online platforms that sell bitcoins through a process called trading/exchange. Here I list some ways you can buy Bitcoins:
Buy bitcoins from a person.
There are online marketplaces where you can buy bitcoins in a person-to-person scheme. You can pay these individuals in cash or otherwise. The good thing is that you and the seller can arrange the payment method: cash in person, cash by deposit, bank transfer, PayPal, etc. The key element here is finding someone you can trust. A good tip is to use an online escrow service, this way you can protect yourself from any kind of fraud. The good thing about these online escrow platforms is that everyone has to upload their scanned ID, which ensures security during transactions.
Buy bitcoins from exchange and merchant.
Bitcoin exchanges or trading outlets are basically online services that facilitate buyers and sellers to conduct Bitcoin transactions. To become a part of one of these, all you need is to 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. You just get your bitcoins through them using local fiat currency. Governments regulate the use of these ATMs for security purposes. Sometimes finding a Bitcoin ATM near your location can be difficult because even where they are installed is regulated.