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Collecting Bitcoins to Use In a Transaction

After acquiring a basic understanding of what bitcoin is and the way the wallet really work, you really should enter the digital currency world and obtain some bitcoin on your own. Thus the big question arrives to your mind: How do you get bitcoins?

Becoming difficult.

After you get the knowledge of the origin of every single bitcoin, which is based on a mining process, you’ll think that the best way to have them is by joining this mining process. The thing is, this has become very difficult, because the fast popularity grow of the crypto currency.

Sell products or services.

Every single bitcoin comes because the result of a previous transaction. Thus, the way to get them, when you don’t have any, is by finding a transaction from someone else, once you purchase them using cash or also by mining new bitcoins.

When you know an individual, who uses bitcoins, you can ask him/her to get bitcoins. In case you don’t know anyone who posses them, you will get 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.

Just in case you cannot purchase bitcoin from someone else, you can find them by mining them. cryptocurrency wallets 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 may be included for sending them, this will depend on the online platform you utilize. Before engaging in mining bitcoins, you need to understand, that it’s not an easy solution to get bitcoins, it needs some tech knowledge, which might not be practical for you.

Buy.

In case, you do not know anyone who posses bitcoins, you don’t have anything to sell to exchange for bitcoins, there’s a way 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 the person.

There are online marketplaces where one can buy bitcoins in a person-to-person scheme. You can pay these individuals with cash or by different ways. The nice think is that you and the seller can arrange the payment method: profit person, cash by deposit, bank wire, PayPal, etc. The key element here is to find someone trustworthy. An excellent tip is utilizing an escrow online service, in this manner it is possible to protect yourself against any sort 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 that make it easier for buyers and seller to do bitcoins transactions. To participate one of these, all you have to is to create a merchant account and get your identity verification before you buy or sell bitcoins.

Buy bitcoins through 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 where you are could be difficult, because even the positioning where these are installed is regulated.

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