The big question is how to get bitcoins.
Once you have a basic knowledge of what bitcoin is and how a wallet actually works, you may want to enter the world of digital currencies and get a bitcoin for yourself. So the big question comes to your mind: How do I get bitcoins?
It’s getting hard.
After learning about the origin of each individual bitcoin, which is based on the mining process, you will believe that the best way to get them is to join this mining process. The thing is, it has become very difficult, as the popularity of cryptocurrency has grown rapidly.
Sell products or services.
Every single bitcoin comes as a 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 know an individual, who uses bitcoins, you can ask him/her to get 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, which results in a payout in bitcoins. An alternative option is to mine 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 purpose of which is to confirm the transactions of other individuals. In return you are rewarded with bitcoins. Receiving bitcoins is sometimes free, but there may be a fee involved 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 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 are a few 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 people in cash or in other ways. A good idea is that you and the seller can agree on a payment method: cash in person, cash on deposit, bank transfer, PayPal, etc. The key element here is to find someone you 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 this online escrow platform is that everyone needs to upload their scanned ID, which guarantees security during transactions.
Buy bitcoins at exchange and point of sale.
Bitcoin exchanges or branches are basically online services that make it easy for buyers and sellers to transact with bitcoins. To be a part of one of them, all you need to do is create an account and get 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 it can be difficult to find a bitcoin ATM near your location because even the location where they are installed is regulated.