Ways Of Acquiring Bitcoins
If you are a historian or ever attended a history class, you can agree with this:
In the 18th and 19th century, there was a gold rush race. During this period, every country wanted to possess territories believed to have large gold depositories. The race proceeded to partition and scrambling of other continents like America and Africa. Later gold became the measure of country’s wealth and medium for trading.
Fast forward to 21st-century things are moving to the digital world. As technology takes the face, it has brought with it a new type of gold rush. However, this time, it is the Bitcoin rush. Everyone is seeking ways of acquiring the digital gold.
Depending on your location, owning a single Bitcoin can shoot you to the millionaires club. In Canada, having a thousand would position you in a strategic path to billionaires’ kingdom. The question is how do you acquire Bitcoins? Here are several ways you can acquire this cryptocurrency:
Like the gold which is acquired through mining, you can get Bitcoins through the same process.
You mean there are Bitcoin depositories that every person can mine them? But they are virtual currencies, how then do you mine them and from where? Obviously, these are the questions circulating in your mind at the moment.
The processes of mining Bitcoins is similar to gold one but differs as this one takes place on virtual platforms. The process involves using high performing computers and electricity to develop codes that solve complex math puzzles. This process is known as mining where the best person earns 25 Bitcoins in 10minutes.
Initially, the process was simple as anyone would have become a miner using their PC. However, the process became complex, and now you require a lot of investments to become a miner.
b) Bitcoin exchange
Nevertheless, if you do not have enough capital to turn you into a miner, you can still acquire Bitcoins through exchanges. Here you buy the digital coin as you do to other currency. In simple language, you exchange your Canadian dollars for Bitcoins.
Some exchange bureau requires you to sign up and verify your identity while others require you only to have a Bitcoin Wallet email and a phone number for receiving confirmation PINs. Importantly, before deciding to purchase Bitcoins on an exchange, it is essential to find basic information about its reputation and legitimacy. Otherwise, you can easily fall into the hands of online fraudsters masking themselves as cryptocurrency exchange bureaus.
c) Working for Bitcoins
As the digital currency is becoming popular, organizations are adopting it as a means of paying their workers. As such, you can work and request your client to pay you using Bitcoins. In particular, if you work through online platforms, you can check for organizations that offer tasks for digital currencies.
Otherwise, if you do not have enough capital to mine or buy the coins, you are not an outcast as long as you possess skills that you can turn to cash. However, you should take precautions not to turn into scammers prey in the name of Bitcoin acquisition.
d) Reputable Bitcoin Faucets
If you neither have the capital to invest in mining nor exchange bureaus nor skills to offer services for you to earn Bitcoins, you do not need to worry. You can still earn the coin through Bitcoin Faucets. These are online platforms that reward people with Satoshi which is a millionth fraction of a BTC.
For you to earn them, you participate through completing captcha or other simple tasks in the site or app. The purpose of this reward is to encourage high traffic on their site and better ranking.
With this information, you know where to go if you need to acquire Bitcoins. The ball is now in your coat.