If you are thinking of investing in cryptocurrencies it is imperative to know where to get them from and how to use them. Trading in crypto coins is not the same as trading in regular stocks and bonds, because the crypto market behaves quite differently from traditional stock markets. Here are some ways that you can use to get Bitcoins when you are starting out:
- You can buy Bitcoin online. To earn free crypto coins, you are going to need a Bitcoin wallet for storing them. The wallet is nothing but software meant for sending, receiving and storing Bitcoins securely so that they cannot be stolen. You can choose from 4 types of wallets, namely, hardware wallets, mobile wallets, web wallets, and desktop wallets.
- Once you have a wallet, you must then create an account in a leading cryptocurrency exchange like Coinbase, BitStamp, Coinmama, or Kraken. These exchanges act like marketplaces where sellers will sell crypto coins to buyers in return for other crypto assets or fiat currencies. Exchanges will typically accept credit cards and bank transfers and you will be charged a transaction fee for each transaction you make. When choosing exchanges it is best to do some research beforehand. This is because not all exchanges are equally trustworthy and reliable. For instance, Coinbase is one of the more popular exchanges in the US; it operates in Singapore and European countries and you can buy Bitcoins with funds from your bank account.
- Another easy way to get Bitcoin is to accept these coins as payments for goods and services rendered. You can sign up to get a Bitcoin merchant account. This will let you transfer invoices and integrate payments made with Bitcoins into the order pages. It is also possible to get Bitcoins by doing micro-tasking for websites, working as freelance writers and artists, affiliate marketing, etc.
- You can get Bitcoins through mining. However, mining is an energy-consuming process that requires specialized miners or computers. Installing and running an independent mining rig is not easy and neither profitable. It is best to sign up with cloud mining services or join a mining pool to improve your chances of getting rewards. Another way of earning more bitcoins is through trading. The automated bitcoin trading bots like the Bitcoin era increase the speed of trading and give good returns.
- You can not only get Bitcoins by selling your goods and accepting payments in Bitcoin but also use these to buy anything you like, such as new cars, travel tickets, and even high-end real estate. You can look for Bitcoin merchants in online directories. You are free to use Bitcoins to buy gift cards and use these for online shopping.
- Finally, you can even get Bitcoins when you buy this in-person. Here, you may use sites like CoinATMRadar that help you identify Bitcoin ATMs and these work like regular ATMs; you can trade cash for Bitcoins. You can use sites like Paxful to locate bank branches offering Bitcoins in exchange for cash. There are websites such as LocalBitcoins that allow you to find individuals keen to exchange Bitcoins for money.