With the rising value and interest in bitcoin, many people are looking for ways to get bitcoin. This article describes many ways you can get Bitcoin to be able to participate in this exciting new trend.
Invest in bitcoin
One of the easiest ways to get bitcoin is to invest in it – you use your own money to buy bitcoin. You buy bitcoin on an exchange that converts your money into bitcoin. There are many exchanges available around the world, so there’s probably an exchange in your area that uses your local currency and payment methods – often bank transfers. Exchanges work based on matching buyers and sellers, so you often place a bid for bitcoin, and if there’s a seller that matches your bid, your order gets filled. Once your order is filled the bitcoin get transferred to your wallet. Once you have the bitcoin, you can hold on to them or participate in trading or various other activities described next.
Trading is another popular way to get bitcoin. You trade bitcoin for other tokens like Ethereum, Bitcoin Cash, Dash, or Zcash and then trade among them taking advantage of the differences in price. Once you make a profit, you withdraw your profit into bitcoin. Trading takes skill and patience.
Another way to get bitcoin is in gambling. You might start out with converting your own money into some bitcoin and then gamble at sites that accept bitcoin. If you’re a skilled gambler, or lucky, or both, you could end up multiplying your initial bitcoin investment.
Work for bitcoin
A low-risk way of getting bitcoin is to work for it. If you have a skill, such as programming, design, translation or writing you can offer your service to people who will pay you in bitcoin. There are many popular websites where you can offer your services to users that are looking for skilled people.
Mining is a great way to get bitcoin. Mining is a process where you use a special computer to help generate bitcoins. While you cannot use a regular computer to mine bitcoin, there are special mining rigs available where all you do is plug it in, and the miner generates bitcoin for you. The disadvantage of this approach is that miners are expensive, they’re not available all of the time, they’re noisy, and miners use a lot of electricity. However, if you have room for a miner and relatively cheap electricity, mining might be a way for you to get bitcoin.
A way to make a little bitcoin is to use a bitcoin faucet. A bitcoin faucet is a website where you do a little work, like solving a captcha, in exchange for a little bit of bitcoin. Some people do well with bitcoin faucets because they’re patient and have a lot of time.
A passive way of getting bitcoin is through signature campaigns. Companies in popular cryptocurency related forums offer certain members bitcoin to feature their logo and other information in user’s forum signatures. Users get paid on a regular basis as long as they continue to post on the forum.
Referral programs are another passive way to get bitcoin. You get a referral code to be used with various websites, like exchanges, gambling websites, and others. For users that sign up through your referral code, you get paid a commission in bitcoin. When it comes to the exchanges, if some bigger trader decided to register through your link, you can even expect some percentage of his trades and fees.
There are lots of ways of getting bitcoin, and this article has shown you the most popular ones. Which you choose depends on the amount of risk you’re willing to take, your skills and your patience. Keep in mind, that even small job that you have been paid $5 for in bitcoins, can in a few months turn out to be worth even couple times more.