Bitcoin showed steady growth in November 2020 and even broke its historical record, and even now its value is at a high level. The information noise around this event affected even those who had not previously worked with cryptocurrency at all. Such a promising investment asset cannot fail to attract attention. Today the editorial staff of Profinvestment.com will tell you where to get bitcoin for a beginner or an experienced user.
What you need to do before receiving bitcoin
The first thing you need to do is create a cryptocurrency wallet. This is software (or a physical device), the functionality of which is designed to keep a pair of keys – public and private – safe. Only those who have the private key can gain access to the management of funds. With this key, transactions are signed in such a way that only a specific user can decrypt them.
There are different types of bitcoin wallets with varying degrees of security and convenience. It is recommended to pay attention to non-custodian options, that is, those that allow the client to store the key files on their own device, and do not use their own server for this.
Cold or hot wallets can also be distinguished in this context. The former allow you to store keys without an Internet connection, thereby increasing their security. Choose this option if you are planning to acquire Bitcoin for long-term storage. Secondary wallets are always connected to the Internet, which makes transactions easier.
- Cold wallets – Ledger, Trezor, Keepkey, paper (keys printed on paper).
- Hot Non-custodial Bitcoin Wallets – Bitcoin Core, Electrum, Blue Wallet, Wasabi
Ways to get Bitcoin for free
First, let’s consider where to get bitcoin without investments. I mean financial investments, but you need to understand that to earn money you will need to spend a certain amount of time and effort.
Cryptocurrency faucets allow you to receive small shares of bitcoin into your account absolutely free of charge. Working with them is carried out as follows:
- Register and indicate the address of your pre-created bitcoin wallet. Some faucets work in conjunction with special wallets for microtransactions, such as FaucetPay and Coinpot, in which case they ask for an e-mail from the account of this wallet. Then the income will be automatically transferred to the wallet.
- Click on the Claim Now button and solve the captcha. For this action, the service will give you a random amount of Satoshi within certain limits (1 Satoshi = 1 / 100,000,000 part of BTC).
- If the faucet used does not support automatic withdrawal to Coinpot or a similar wallet, then you will need to accumulate the minimum withdrawal amount and withdraw it manually. In some taps, the minimum wage is relatively high, so it can take a long time to earn it.
The crane itself makes money from advertising. Advertisers buy space from him to place banners on the site and pay for the number of impressions. Therefore, it is beneficial for the crane to attract as many customers as possible and make sure that they return regularly. Faucets are one of the easiest answers to the question of where a beginner can get bitcoins without much difficulty. Unfortunately, the amounts received will be small.
You can also get bitcoin in small quantities through special games with the possibility of earning. A deposit is usually not required in these games. On the principle of faucets, they earn on ads and share some of the profits with active users. So, if you are looking for a way to kill time in an interesting game and make some money at the same time, then this option may suit you. A number of exchanges (Crex24, Yobit) and bitcoin faucets also offer various gaming models with the possibility of earning money.
It is also worth mentioning the sphere of gambling – many online casinos accept payment and give out winnings in BTC. The disadvantage of this way of making money, if we ignore the disadvantages of gambling in general, is also the complete anonymity of the creators. If they are deceived, the ends cannot be found.
Bitcoin transactions are cheaper and faster than traditional international payment methods and operate globally, without censorship. Therefore, this is a good way to pay for various services on the Internet. Therefore, one of the options where to get Bitcoin is to register on sites that connect freelancers and employers who prefer payment in cryptocurrency.
As a rule, freelance sites focused on working with BTC are less active than traditional ones, but usually their commissions are much lower. Several platforms with payment in bitcoins:
The following methods allow you to get bitcoin in more significant quantities, but with financial investments.
Bitcoin today is effectively mined only with the help of ASICs – specialized integrated circuits. The most important application of this method is in regions with cheap electricity. However, you should be aware that at the moment the gigantic computing power of the bitcoin network is concentrated in China and belongs to corporate owners; it is difficult for an ordinary user to achieve high incomes at home.
ASICs are computers for mining, the functionality of which is limited only to calculations that allow you to mine bitcoin. All serious mining is now done on dedicated hardware, usually equipped data centers with cheap electricity and professional cooling.
Profitable ASICs for BTC today:
- Bitmain Antminer S19 Pro
- MicroBT Whatsminer M30s
- Bitmain Antminer T19
- Canaan Avalon 1246
- Bitmain Antminer S17 + 76Th
(according to Whattomine website)
Before buying an ASIC, you need to use a mining calculator. There are quite a few such services. Based on the hashrate of the equipment, the current exchange rate, the cost of electricity and other parameters, the calculators will calculate your potential profit. Only after making sure that the process will not be unprofitable, you can purchase equipment. An alternative to conventional mining is cloud mining, but you need to carefully check the service’s reputation and profitability. If the bitcoin rate is low, then the contracts may not pay off.
5. Purchase on exchanges
Trading platforms called cryptocurrency exchanges are ideal for buying bitcoin, as they offer different payment options, different types of orders (including limit orders with the ability to set the desired price level), extensive auxiliary functionality, as well as detailed help systems with instructions for beginners and power users.
In order to use the services of a bitcoin exchange, you need to register, in some cases go through identity verification, replenish your account with fiat money or the altcoins you have. Then create a buy order and wait for its execution. Withdraw the received BTC to the wallet (pay attention to the commissions charged by the exchange). An alternative to exchanges is p2p exchangers.
6. Purchase in exchangers
One of the easiest options for where to get bitcoin is to buy it in special crypto-exchangers. They allow you to quickly and without verification exchange your fiat currency for BTC. As a rule, a large number of directions are supported – for example, you can buy cryptocurrency from a Sberbank card, through Qiwi, YuMoney payment systems, even using the balance of mobile operators. Monitoring will help you choose an exchanger that supports the direction you need.
Using the exchanger includes just a couple of steps: you need to register and indicate your details, and then pay for the created application using the details that the service will provide. All that remains is to wait until the system receives the payment and the transfer is sent to your BTC wallet.
Bitcoin can be obtained in many ways, which are radically different from each other in both complexity and performance. Even a beginner who is just starting to get acquainted with cryptocurrencies will be able to choose a method that will be the least problematic for him. After that, it remains to ensure high-quality storage of the coin in the wallet, with maximum protection against hacker attacks. New technologies are very interesting, but they also require special attention to nuances, because, as in any field, cryptocurrencies are full of scammers who are looking for vulnerabilities in order to take possession of what does not belong to them.