How To Get Bitcoins?

How Bitcoin Works?

by DailyCryptoInfo 337 Views

How To Get Bitcoins?

How Bitcoin Works?

by DailyCryptoInfo 337 Views

Bitcoins are released within the network and are solely monitored based on transactions embedded within the blockchain. Bitcoins cannot be made or created externally for it will not be recognized within the blockchain and what’s not recognized by the network of miners gets rejected by the protocol.

Bitcoins can be obtained directly by solely one method, mining.

Bitcoin can be obtained indirectly by many other methods such as buying it from many other people or combining microtransactions to form one Bitcoin altogether.

how-to-get-bitcoins


Bitcoin acquisition by Mining

Bitcoin can be accumulated by receiving fees and block rewards for mining in the form of bitcoin. This is the only way through which additional bitcoin can be added to the network. Hence, you cannot get scammed by any third parties since this relationship involves just you and the bitcoin protocol. This is by far direct and purest way of acquiring Bitcoin.

Bitcoin acquisition by Buying:

Bitcoin acquisition involves a third party that has already mined or bought bitcoin from somebody else. There are multitude of platforms that facilitate this exchange, for a price of course.

A majority of exchanges fall under this category in helping people to buy and sell bitcoin in exchange for fiat local currency. One might also consider accepting Bitcoin by different means in exchange for a product or service provided. Coinbase and poloniex are one of the most reputed exchanges in US and Europe respectively.


Bitcoin acquisition by accepting Bitcoin payments in your store

Another way to get bitcoins is to earn them like you would any other currency: by providing goods or services in exchange for the digital currency. There are websites that list offers for jobs that pay in bitcoins, rather than traditional currency. You can also ask your current employer to pay you in bitcoins, which can be a good option for international freelancers in particular.


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