Wednesday 7 April 2021

Collecting Bitcoins to Use In a Transaction

Having gained a basic knowledge of what bitcoin is and how the wallet actually works, you want to get into the world of digital currency and get some bitcoins for yourself. This is how the big question comes to your mind: how do I get bitcoins?

Bitcoin

It is getting difficult

After you get the knowledge of the origin of each bitcoin, which is based on the mining process, you will believe that the best way to get them is by joining this mining process. The thing is, this has become very difficult, as the popularity of crypto currency increases rapidly.

Sell ​​products or services

Every single bitcoin comes as a result of the previous transaction. Thus, the way to get them, when you have none, is by acquiring transactions from someone else, when you also buy them using cash or by mining new bitcoins.

When you know someone who uses bitcoin, you can ask him to get bitcoin. If you do not know anyone who offers them, you can get bitcoins by just offering another type of transaction with another bitcoin user, resulting in you being paid in bitcoin. An alternative is by mining them yourself.

Mining industry

If you can't buy bitcoins from someone else, you can get them by mining them. The word mining here means: solving a complex mathematical problem intended to validate transactions from other individuals. In return you are awarded bitcoins. Getting bitcoins is sometimes free, but a fee can be included to send them, depending on the online platform you use. Before getting into bitcoin mining, you need to understand that this is not an easy way to get bitcoins, it requires some technical knowledge, which may not be practical for you.

Purchase

If you do not know anyone who presents bitcoin, you have nothing to sell for exchange of bitcoins, there is a way to buy bitcoins. There are many online platforms, these sell bitcoins through a process called trading / exchanging. Here I list some ways by which you can buy bitcoins:

Buy bitcoin from someone

There are online marketplaces where you can buy bitcoins in a person-to-person scheme. You can pay these individuals in cash or by other means. It sounds good that you and the seller can arrange the payment method: cash in person, cash by deposit, bank wire, PayPal, etc. The key element here is to find someone trustworthy. A good tip is using an escrow online service, this way you can protect yourself from any kind of fraud. The good thing about these online escrow platforms is that everyone should upload their scan ID, it guarantees security during the transaction.

Buy bitcoins from an exchange and outlet

Bitcoin exchanges or outlets are basically online services that make it easier for buyers and sellers to conduct bitcoin transactions. To be a part of one of these, you have to create an account and get your identity verification before buying or selling bitcoins.

Buy Bitcoins through ATM

Some cities around the world offer physical bitcoin ATMs. You simply get your bitcoins through them using the local fiat currency. Governments regulate the use of these ATMs for security purposes. Sometimes it can be difficult to find bitcoin ATMs near your location, because even the place where these are installed is regulated.

No comments:

Post a Comment

How to Convert Bitcoins to Dollars?

Exchanging bitcoins to an useful currency Bitcoins are being hailed by many as the future currency, but only a few sites will accept them. I...