Launched in 2009, Bitcoin is the first and largest cryptocurrency globally. Ever since its launch, this digital currency has seen enormous growth in value from $0.30 to $45,000 today.
Due to its popularity and ever-increasing value, bitcoin is the first choice of every investor. This is the primary reason why 9 out of 10 crypto investors have invested in this digital gold.
Still, there are some new investors who find it complicated to invest in Bitcoins. However, it is much easier in reality.
The two of the most common ways to get Bitcoins: Buying from the exchange or earning them for free. The first method is convenient, while the latter is quite complex and needs a comprehensive understanding.
So, if you're still unsure how to get Bitcoin, read this article till the end to briefly discuss all possible methods through which you can get bitcoins. So let's start.
How to Get Bitcoins?
The best and the most efficient way to get bitcoin is to buy it from either a crypto exchange, brokerage platform, or any other platform.
So, let's start with some of the most common ways to get bitcoins:
Crypto exchanges provide a platform for crypto investors to buy or sell cryptocurrencies using fiat or other digital currencies.
They work similarly to traditional stock brokers. In addition, these exchange platforms provide advanced tools which allow investors to buy bitcoins more conveniently.
Additionally, setting up an account on these platforms is quite easy and hassle-free. There is no need to undergo a physical verification process; everything is done online.
On the other hand, there are many crypto exchanges on the internet that promises to provide low fee and advanced trading platforms.
However, choosing a reliable crypto exchange such as XBO.com is important as they provide additional security features and are highly regulated and reputed.
With the rise of cryptocurrencies, many brokerage platforms have started to offer trading on bitcoins in addition to Stocks, Forex, Commodities, etc.
These platforms can be accessed through the web or mobile applications. The best part is that most brokerage platforms don’t charge a single penny as commission.
In addition, when you invest in bitcoins through a brokerage platform, you also get an option to diversify your investment by adding other financial instruments to your portfolio.
Bitcoin ATMs work similarly to cash ATMs. While buying and selling bitcoins, you’ll have to deposit and withdraw cash.
The process is simple - Go to a real location where these machines are placed and put money into them. Then, you can buy bitcoins with the money you put in and send them to an online wallet.
Peer-to-peer (P2P) exchange networks are another way to get bitcoins. This is a direct link between the buyer and the seller. Here, you'll have an option to look for the greatest offers from various sellers.
Most P2P exchange platforms offer trust rating systems, allowing you to verify the seller's reputation. Because transactions are done directly between buyer and seller, you can get benefit from low transaction costs.
Popular payment services like Paypal, Venmo, and CashApp now allow users to purchase, trade, and sell bitcoins.
The best part is that you'll not need a separate account with a cryptocurrency exchange or an investment firm.
Additionally, bitcoins can be purchased for as little as $1, making it simple to get started and learn about cryptocurrencies.
On the other hand, some companies like CashApp allows users to earn bitcoins for every purchase they make using the app.
How to Earn Free Bitcoins?
Are you looking for an answer: “How to earn Bitcoins?” Apart from buying, you can also earn bitcoins for free through mining, rewards, or bounty programs. So, let's discuss all these methods in brief:
It is the most common way of getting free bitcoins. Mining is a process in which a new set of transactions verifies and added to the blockchain.
Those involved in the mining process are rewarded with specific bitcoins for every block that they successfully added and verified to the blockchain.
However, the reward will be given to miners who first find a solution to a complex hashing puzzle.
Playing Online and Offline Games:
Today, there are several online games that offer free bitcoins to people who play on their platforms. It is the most fun way to earn bitcoin even without spending a single penny.
These games include online casino games, blockchain-based games, non-blockchain-based games, and quizzes.
Earn Through Bounties:
Bounty programs are the best way for programmers and non-programmers to earn free bitcoins by just reporting and identifying any bug in the platform.
Many crypto exchanges often run bounty programs to keep their platforms updated.
Affiliates and Referral Programs:
Many online companies run affiliate and referral programs that can help you earn bitcoins for free. For instance, Coinbase offers free bitcoins for referring users to the platform.
There are several other websites that run affiliate programs, including LocalBitcoins.com, Paxful, Bybit, Timebucks, Lolli, etc.
Earn by Watching Ads:
There are several websites that let you earn free bitcoins by just watching ads. Some websites such as FreeCash.com allow you to win by clicking on the video, which gives ad points as a reward. These ad points can be converted into bitcoins.
Earn through Faucets:
The best way to get free bitcoin is to earn it through faucets. There are some websites that give a fraction of free bitcoin every second as a promotional reward.
The concept of a faucet is to hold visitors on a website for as long as possible so that the website owner can get better revenue and more website engagement.
Above, we have listed all possible methods to get bitcoins. As mentioned earlier, you can get bitcoins either by buying them or earning them for free.
However, when you choose to buy bitcoins, you invest money in them. On the other hand, when you opt to earn Bitcoins for free, you're investing your time and efforts. So, it's all up to you what you choose.
That's all! Hope you understood the topic better.