Collecting Bitcoins to Use In a Transaction

After acquiring a basic understanding of what bitcoin is and the way the wallet really work, you might like 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 understanding of the origin of each single bitcoin, which is based on a mining process, you’ll believe that the best way to have them is by joining this mining process. The thing is that, this has become very difficult, as 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 haven’t any, is by finding 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 obtain bitcoins. In case you have no idea anyone who posses them, you can find 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 may get them by mining them. The word 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 is sometimes free, but a fee could be included for sending them, this will depend on the online platform you use. Before getting into mining bitcoins, you need to understand, that it’s not an easy solution to get bitcoins, it requires some tech knowledge, which may 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 solution 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 these individuals with cash or by other ways. The good think is that you and the seller can arrange the payment method: cash in person, cash by deposit, bank wire, PayPal, etc. The main element element here is to get someone trustworthy. An excellent tip is utilizing an escrow online service, in this manner it is possible to protect yourself against any kind of fraud. The great thing about these online escrow platform, is that everyone should upload their scanned ID, this guarantees security during the transactions.

Buy bitcoins from an exchange and outlet.

Bitcoin exchanges or outlets are basically online services which make it easier for buyers and seller to do bitcoins transactions. To participate Simpleledger Token of these, all you have to is to create a merchant account and obtain your identity verification before you buy or sell bitcoins.

Buy bitcoins via an ATM.

Some cities all over 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 positioning where these are installed is regulated.