Bitcoin, the digital gold of the internet is sought after by millions of people. Some for it’s potential to hit above $100K per coin, and others as a means of making transactions without the involvement of a middleman or third-party.
Whatever your reason for wanting Bitcoin, we can all agree that it is something worth having. Let’s face it, the future ahead of his is all going digital. Fiat money will eventually become a thing of the past. It’s better to get in now before you are left behind in this technological revolution.
Getting Bitcoin is not as difficult as you think. There are various methods for obtaining it. Below we will list all of the available methods to acquiring Bitcoin.
How To Store Bitcoin
Before you can actually get involved with Bitcoin, you need a means of storing it. With physical cash, you need something called a wallet. For Bitcoin, you need a Bitcoin Wallet. This digital wallet will allow you to store Bitcoin. This wallet comes with a unique Bitcoin Address that gets used for receiving funds. The person you send money to will also have their own unique Bitcoin Wallet address as well.
There are a few ways of acquiring Bitcoin. After carefully reviewing each method listed on this page, you may decide which one is more comfortable using or may consider all methods which can be used in their own unique way.
Buy Bitcoin Using Apps and Services
You have the option of purchasing Bitcoin using Apps like CashApp, Coinbase, and Gemini. The pros of this method are speed and convenience. Instantly purchase Bitcoin which will be available in your account to HODL or spend. Because you are using a companies app or platform, there is KYC (know-your-customer) involved where you will have to supply personal information to identify yourself.
Buy Bitcoin on an Exchange
This option of acquiring Bitcoin is more popular because you can use other forms of cryptocurrencies to exchange with. There are quick exchanging platforms like Changelly where you can either buy Bitcoin with your local fiat currency or you can exchange to Bitcoin with altcoins such as Ethereum, Litecoin, Dash, Zcash, Monero, and more. Other platforms like Binance & Coinbase Pro allows you to exchange by Trading from one currency into another.
Platforms like Binance and Coinbase Pro allow you to earn profit by trading your Bitcoin for another coin that has the potential for growth. You can also trade altcoins back to Bitcoin and earn a profit that way as well. It’s best to understand marketing conditions and have trading experience before proceeding.
Another way to earn Bitcoin is by mining it. You can mine Bitcoin using ASIC mining machines that overtime generates you a profit. ASIC machines are loud and cost a decent price to own. Other alternatives are mining with your computer. Though this method is free, profit generation is a lot slower. You will have to depend on computer speed and GPU power.
Another option that is popular for many is cloud mining. You are basically renting machines or hash power from a company, in return, you get a profit. Depending on the company, you are offered a contract that includes how much hash power is lent to you for a duration of time. When that contract expires, you may reinvest or purchase a new contract.
Another way you can obtain Bitcoin is through crypto faucets. Faucets allow you to earn satoshis (pieces of Bitcoin) by performing tasks such as solving captchas, watching videos, clicking ads, and taking surveys. Not every Bitcoin faucet is created equal. Some pay you just enough to keep you active on the platform, while others make the payout minimum so high that it’s not even worth doing. Be mindful of what you signup to before spending your time with faucets.