The big question is how to get bitcoins.
After gaining a basic understanding of what Bitcoin is and how a wallet actually works, you may want to dive into the world of digital currency and get yourself some Bitcoin. So the big question arises in your mind. How can I get bitcoins?
After you know about the origin of each bitcoin that is based on the mining process, you will believe that the best way to get them is to join this mining process. The point is that it has become very difficult because of the rapid popularity of cryptocurrency.
Sell products or services.
Each bitcoin comes as a result of a previous transaction. So the way to get them when you don’t have is to get a deal 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 them to receive bitcoins. If you don’t know anyone who has them, you can get bitcoins by recommending other types of transactions with another bitcoin user, resulting in you being paid in bitcoins. An alternative is to extract them yourself.
While you can’t buy bitcoins from someone else, you can get them by mining them. The term mining here refers to solving a complex mathematical problem with the aim of verifying the transactions of other individuals. In return, you are rewarded with Bitcoins. Receiving bitcoins is sometimes free, but sending them may involve a fee, depending on the online platform you use. Before you get into bitcoin mining, you should understand that it is not an easy way to earn bitcoins, it requires some technological knowledge that 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 that sell bitcoins in a process called trading/exchange. Here I list 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 other ways. The good 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 from any kind of fraud. The good thing about this online backup platform is that everyone has to upload their scanned ID, this ensures security during transactions.
Buy bitcoins from exchange and socket.
Bitcoin exchanges or outlets are basically online services that make it easy for buyers and sellers to transact bitcoins. To be a part of one of them, you only need to create an account and get your identity verified before you can buy or sell bitcoins.
Buy bitcoins with ATM.
Some cities around the world offer physical bitcoin ATMs. You just get your bitcoins through them using the 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 located is regulated.