How to Get Bitcoins And Store Them?
Bitcoin is no longer unfamiliar today. It’s a new currency created back in 2009 by Satoshi Nakamoto. Like money, bitcoins are used for the transaction, however in a different manner. As they become valuable, now people start to wonder the effective ways on how to get bitcoins. Bitcoins can be used to book hotel and purchase items on Overstock. In fact, you can use them to purchase Xbox games. However, most people are more interested in using bitcoins to make themselves rich in money. That’s the real point that most people thought.
Unlike money where the bank is the place to store them, bitcoins are stored in a digital wallet. You can consider it as virtual bank account and it’s available on cloud or user’s computer. People who own bitcoins are also aware that saving bitcoins in a digital wallet is somehow risky since online ‘thing’ is more prone to get hacked.
How to get bitcoins properly?
There are varied methods used to get bitcoins. Here are some ways for you to acquire them:
Acquire bitcoins via online
You can actually buy bitcoins online. However, you might as well buy it in small amounts. You can buy them in Coinbase or Xapo. There you can buy bitcoins under $2000. Buying small amounts of bitcoins is rather safe for you to start your bitcoins collection. You can buy them in those sites in exchange to service charge though in approximate 1%.
Trading exchange for buying large amounts
If you are going to challenge yourself and buying larger amounts of bitcoins, you might as well consider the trading exchange. This is how to get bitcoins in larger amounts since you will be able to buy over $2000 of bitcoins. The higher the amount of bitcoins you buy, the lower the commission’s rates is as an exchange. Thus, it’s still beneficial for you. However, you will be required to create an account first at an exchange. The process is not that different from opening new bank account though. In this method, you will get to know that this exchange involves different currency, depending on the country.
Buy bitcoins with cash
You can exchange bitcoins with another individual using your cash. There are individuals as well as retails outlets available for bitcoins exchange with cash. You can use service from platforms like LibertyX or LocalBitcoins to find the nearest individuals or retails for you. There are also bitcoins ATMs you can use to send your bitcoins to your wallet in exchange for cash. Trading cash for bitcoins using bitcoin ATMs is not a new thing though. However, you will be charged 5-8% fee if you trade bitcoins using one of these ATMs. Find the list of ATM in CoinATMradar.com.
Obtain bitcoins through mining
How to get bitcoins aside from trading or exchange is by mining. You need to download mining program such as CGMiner. You need to download it via your PC which has the custom setting for this. You need to solve complex math puzzles in order to get bitcoins through mining process. Actually, this is the original of obtaining bitcoins. If you happen to be the winner, you will be rewarded with 12.5 bitcoins in every 10 minutes. This method seems hard for the beginner but if you enjoy this process, you can improve your skill and earn more bitcoins to your wallet.
Buy directly from bitcoin’s owner
You can meet the owner of bitcoins and make a direct transaction. You can hand them some money and make them load their bitcoins directly to your phone. However, this method is also risky since you need trusted people to do this method. If you are not confident to meet face to face with bitcoin’s owner, you can avoid this method. However, you can taste the water by purchasing bitcoins in small amount first.
How to get bitcoins and store them?
Once you obtain your bitcoins, you need to store them safely. As mentioned above that this digital currency is placed in the digital wallet that you need to create before you purchase them. Unlike your physical wallet, the digital wallet is easy to be carried everywhere so it won’t burden you. There are various types of bitcoins wallet you can choose. Here they are:
Paper wallet – Simply to say, this wallet is in a form of the document containing public address used to receive bitcoins and private key. It allows you to make transactions such as transfer or spend bitcoins. The document is printed in QR codes-form, allowing you to scan it when you need it for a transaction. Bitcoin paper wallet is one of platforms providing service for a paper wallet. This wallet is considered the most secured wallets for bitcoins since it doesn’t work digitally.
Mobile wallet – Where to store bitcoins is as important as how to get bitcoins. So that’s why mobile wallet provides you just right. You can pay for goods, shops, and do any transaction easily using your own smartphone. A mobile wallet is in a form of software or app installed on your smartphone. In this app is stored your private keys which allow you to do any transaction via your phone. However, this type of wallet is prone to get hacked so you need to be more aware of it.
Web wallet – Another type of bitcoin wallet is web which allows you to store private keys. It’s provided by the server of the company online. This wallet provides various services containing different features. Some of them are even linked to your mobile and desktop wallet. You can also call web wallet as the e-wallet. This wallet practically runs with the help of internet connection. Some of the notable services come from Coinbase, Circle, Stroncoin, Xapo, etc.
Bitcoins are free for international payments as well as small business and not tied to any regulation from certain countries. However, some countries have started to arrange clear regulation about bitcoins in order to manage tax issues and stuff. Some people even consider bitcoins as their valuable investments. The value of bitcoins is expected to go higher so this what makes people work their best on how to get bitcoins.