Buy Bitcoins & Experience Efficient Payments

Once you’ve learned the basics of Bitcoin and cryptocurrency payments, knowing how to acquire bitcoins is the next step. You can pay for them in a number of ways, ranging from cash, debit and credit card payments, wire transfers, and even exchange them for other cryptocurrencies, depending on your desired method of purchase. Surprisingly, the growing community makes it easier for anyone to buy bitcoins.

Bitcoin Wallet

Before anything else, it is essential for every user to acquire a Bitcoin wallet, which is where the crypto coins are stored. Think of them as a bank account that only exists in the digital world.

Depending on the degree of security you want, different wallets will provide different security measures. Some perform like everyday accounts like a traditional wallet, while others offer military-grade firewalls and protection.

The primary options include the following:

·         A software wallet installed on the hard drive of your computer;

·         Web-based wallet service;

·         A vault service or multi sig wallet that employs encryptions;

Bitcoin Exchanges and Online Wallets

First-time cryptocurrency users will find a healthy number of exchanges and wallets where they could buy Bitcoins. Some are all-out exchanges dedicated to institutional traders, while others cater simpler wallet services that offer only the essential functions.

Exchanges and wallets are the best options for those who want to engage in trading and other Bitcoin-related services. Once you’ve set up an account with your selected platform, you can easily move your funds.

Over the Counter Trades

Another easy option to obtain bitcoins is to make a face-to-face trade with a local seller. There are sites where such transactions are arranged and prices are negotiated. LocalBitcoins is one of the most popular sites that provide such services and an added layer of protection for both ends.

Take note that you will still need access to your Bitcoin wallet upon purchasing the bitcoins. Whether it’s a smartphone, tablet, or laptop, you have to access your Bitcoin wallet to confirm the transfer.

Mining

There’s also another way of acquiring bitcoins through mining. In layman’s terms, mining is a process that can create bitcoins. Although this requires a powerful computer, it is one of the earlier methods employed to gather a sizeable amount of the cryptocurrency.

Bitcoin ATM’s

A new concept is starting to gain popularity in the industry, which involves Bitcoin ATM’s. Just like face-to-face exchanges, but done with a machine, users simply insert their cash and either scan their mobile wallet QR code or receive a paper receipt with the necessary codes to load the bitcoins onto any wallet.