Collecting Bitcoins to Use In a Transaction

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

Becoming difficult.

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

Sell products or services.

Every single bitcoin comes as the consequence of a previous transaction. Thus, the way to get them, when you haven’t any, is by receiving a transaction from someone else, when 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 don’t know anyone who posses them, you can get bitcoins by offering another kind of transaction with yet another bitcoin user, resulting you getting paid in bitcoins. The alternative option is by mining them yourself.

Mining.

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

Buy.

In case, you don’t know anyone who posses bitcoins, you don’t have anything to sell to exchange 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 ways you can 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 different ways. The nice think is that you and owner can arrange the payment method: profit person, cash by deposit, bank wire, PayPal, etc. The main element element here is to get someone trustworthy. A good tip is using an escrow online service, in this manner you can 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 do bitcoins transactions. To be part of one of these, all you have to is to create a merchant account and get 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 finding a bitcoin ATM near your location may be difficult, because even the positioning where they are installed is regulated.

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