Are you new to the cryptocurrency world, and you’re considering Bitcoin as an investment? Thanks to its overwhelming performance, Bitcoin carries several benefits over traditional investments.
Bitcoin has high liquidity powered by online brokerages, exchanges, and trading platforms. Its inflation risk is also lower when compared to other currencies. The cryptocurrency also comes with lucrative opportunities and requires minimalistic trading.
So what are the best ways on how to get Bitcoin? Consider the following four ways to get Bitcoin:
Mining Bitcoin at Home
As the cheapest way to get Bitcoin, Bitcoin mining lets you corroborate Bitcoin transactions and add them to a specialized ledger. It takes stiff competition (against other miners) and complex calculations to mine Bitcoin. The calculations will involve several blocks that contain cryptocurrency transaction data.
Building a mining rig will get you started with powerful PC specs to generate more Bitcoins. You should also have a digital wallet for storing your Bitcoin rewards.
For your rig to healthily compete with big mining firms, picking a mining pool would be ideal. Mining pools distribute cryptocurrency rewards earned among the participating members. Search online for Bitcoin machine near me for further help on how to get Bitcoin.
You can earn Bitcoin from shopping rewards, cryptocurrency credit cards, and Coinbase Earn. The rewards range from one percent to 30 percent Bitcoin Back, depending on the product and retailer.
Cryptocurrency credit cards also give you points or cashback when swiped. You can even use the cashback rewards to buy Bitcoin.
Buying Bitcoin Using Cash or Gift Cards
You can exchange your prepaid gift cards for cryptocurrency through companies such as CardCoins. Inserting cash into a Bitcoin ATM also allows you to buy Bitcoin. You need to locate a nearby Bitcoin ATM to carry out the purchase.
Online platforms like Purse can help when looking to redeem your Amazon gift cards. They allow you to settle someone else’s Amazon order and get Bitcoin in return. You’ll have the rewards deposited in your wallet once the buyer confirms the arrival of their merchandise.
Platforms such as Redeeem allow you to swap discount gift cards for Bitcoin. Most platforms that support this feature have an average discount limit of over 20 percent.
Buying Bitcoin through a Certified Exchange
The best way to get into Bitcoin is through cryptocurrency exchanges. Most Bitcoin exchanges don’t require you to give personal identification information.
You can use them to buy Bitcoin through peer-to-peer transactions or regular Bitcoin exchanges. You can deposit money to the platforms via wire, bank transfer, or other supported means with an active account.
With peer-to-peer exchanges like Bisq and BitQuick, you’ll have information about the other entity or person. The information may include IP address, location, forum username, and Bitcoin wallet address.
Regular Bitcoin exchanges, on the other hand, use order books when matching sellers and buyers. Both parties won’t have an idea about each other for privacy protection and anonymity.
Need More Tips on How to Get Bitcoin?
Make your cryptocurrency investments worthwhile with these methods on how to get Bitcoin. You should only transact with verified platforms or exchanges to avoid losing money to fraud.
Get more insights on topics such as technology, real estate, and finance from our website. Drop us a comment or inquiry on any issue you’d like addressed.