Collecting Bitcoins to Use In a Transaction

After acquiring a basic understanding of what bitcoin is and how the wallet really work, you might want to get into the digital currency world and get some bitcoin on your own. Thus the big question arrives to your brain: How do you get bitcoins?

Becoming difficult.

After you get the knowledge of the origin of every single bitcoin, which is based on a mining process, you’ll think that the best way to have them is by joining this mining process. The thing is, this has become very difficult, 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 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, you can ask him/her to get bitcoins. In case you have no idea anyone who posses them, you can get bitcoins by offering a different type 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 may get them by mining them. The term mining here means: solving a complex mathematical problem, which intention would be to validate other individuals transactions. In return you’re awarded with bitcoins. Receiving bitcoins may also be free, but a fee may be included for sending them, it depends on the online platform you use. Before engaging in mining bitcoins, you need to understand, that it’s no easy way to get bitcoins, it needs some tech knowledge, which might not be practical for you.

Buy.

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

Buy bitcoins from a person.

There are online marketplaces where you could buy bitcoins in a person-to-person scheme. It is possible to pay they with cash or by other ways. The good think is that you and owner can arrange the payment method: cash in person, cash by deposit, bank wire, PayPal, etc. The main element element here is to find someone trustworthy. An excellent tip is utilizing an escrow online service, this way it is possible to protect yourself against almost any fraud. The great 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 participate one of these, all you need is to create a merchant account and get your identity verification before you buy or sell bitcoins.

Buy bitcoins through an ATM.

Some cities around the world offer physical bitcoin ATMs. You merely get your bitcoins through them using local fiat currency. Governments regulate the uses of the ATMs for security purposes. Sometimes getting cryptocurrency near your location may be difficult, because even the location where these are installed is regulated.

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