Collecting Bitcoins to Use In a Transaction

After acquiring a basic understanding of what bitcoin is and how the wallet really work, you might like to enter the digital currency world and get some bitcoin for yourself. Thus the big question arrives to your mind: How do you get bitcoins?

Becoming difficult.

After you get the understanding of the origin of every single bitcoin, which is predicated on a mining process, you’ll believe that the best way to have them is by joining this mining process. The thing is, this has become very hard, because the fast popularity grow of the crypto currency.

Sell products or services.

Every single bitcoin comes as the result of a previous transaction. Thus, the best way to get them, when you don’t have any, is by receiving a transaction from someone else, once you purchase them using cash or also by mining new bitcoins.

When you know a person, who uses bitcoins, it is possible to ask him/her to get bitcoins. In case you don’t know anyone who posses them, you will get bitcoins by offering another kind of transaction with yet another bitcoin user, resulting you getting paid in bitcoins. The choice option is by mining them yourself.

Mining.

In case you cannot purchase bitcoin from another person, you can aquire them by mining them. The word mining here means: solving a complex mathematical problem, which intention would be to validate other individuals transactions. In exchange you’re awarded with bitcoins. Receiving bitcoins may also be free, but a fee could be included for sending them, this will depend on the online platform you utilize. Before engaging in mining bitcoins, you must understand, that it’s not an easy way to get bitcoins, it requires some tech knowledge, which may not be practical for you.

Buy.

In case, you don’t know anyone who posses bitcoins, you don’t have anything to sell to switch for bitcoins, there’s a solution to buy bitcoins. There’re several online platforms, these sell bitcoins by way of a process called trading/exchanging. Here I list some ways you can purchase bitcoins:

Buy bitcoins from the person.

There are online marketplaces where you could buy bitcoins in a person-to-person scheme. You can pay they with cash or by different ways. The good think is that you and the seller can arrange the payment method: profit person, cash by deposit, bank wire, PayPal, etc. The key element here is to find someone trustworthy. cryptocurrency is using an escrow online service, this way it is possible to protect yourself against any kind of fraud. The good thing about these online escrow platform, is that everyone should upload their scanned ID, this guarantees security through the transactions.

Buy bitcoins from an exchange and outlet.

Bitcoin exchanges or outlets are basically online services that make it easier for buyers and seller to accomplish bitcoins transactions. To be part of one of these, all you have to is to create an account and obtain your identity verification 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 uses of these ATMs for security purposes. Sometimes getting a bitcoin ATM near your location could be difficult, because even the location where these are installed is regulated.

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