You can obtain bitcoins in several ways, each one being completely different from each other. It’s also very important for you to know that bitcoins can be sent very easily from one individual to another. As a result, they take the form of a highly transferable product.
Now let’s take a look at some easy ways to get bitcoins.
The incredibly inexpensive days of bitcoin mining, which only lasted a few years, were days when bitcoin was so cheap that it made financial sense to mine it at a very low cost instead of buying it.
Today, bitcoin mining is still a viable option, but different steps need to be taken in order to properly exploit the current difficulty level.
BTC mining requires specialized equipment that performs the extremely fast calculations necessary for bitcoin mining. The total power of all miners, or the hashrate is so important that the material found in average computers (or any computer, for that matter) cannot perform the data mining calculations quickly enough to produce significant results. A specialized hardware is required which is known as ASIC or Application Specific Integrated Circuit.
Exchanges are by far the most common way to get bitcoins. Exchanges are platforms that allow users to buy cryptocurrencies for another means of exchange, usually a fiat currency.
Exchanges do this via an order book or a general ledger which corresponds to the buying or selling instructions. These instructions are called “auctions” and “requests”, respectively.
Note: After purchase, make sure you don’t keep your bitcoins on the exchange. Make sure to transfer them to a safe and secure encrypted wallet like AiBB.
Earning bitcoins in exchange for goods and services
It is an option which is just as feasible as mining or investing in digital currency. There are certain businesses allowing people to earn BTCs in exchange for their services.
These businesses typically including some freelancing job sites where BTCs are paid to people, as well as companies that collect BTC by accepting it as a means of payment.
Earning bitcoin, in some cases, can be the most convenient option for someone with a running business. No real transition is necessary for companies to undergo to earn bitcoin. You can even just add your bitcoin wallet address to an invoice to accept payments in BTCs.
Bitcoin ATMs (BATM) are kiosks that look like traditional ATMs, but instead of connecting to a bank account, they connect to the Internet and allow cash and credit card transactions for bitcoin. Some BATMs offer two-way functionality, which allows users to buy and sell bitcoins through the kiosk.
BATMs now require some sort of an identity verification like KYC / AML information before finalizing a transaction, so users must be ready to scan their credentials into the machine. Common BATM locations include retail stores, stores, bars, restaurants, malls, and airports.
To know more about bitcoins and other cryptocurrencies, download the AiBB app and go to the “learn” section to access everything on a single page.