You’ve seen the articles slowly creeping into your daily news. Bitcoin and other cryptocurrencies are making more people rich by the day, and you want to learn more about it. After perusing websites such as The CryptoCurrency subreddit, CoinMarketCap, and Bitcointalk, you want to dive in. But how do you get your hands on some? Well, there are several options to explore.
Purchase Directly via Exchange
This is the easiest way to get ahold of cryptocurrency. You create an account at an exchange, and are able to purchase Bitcoin or other coins for fiat. For those that are skeptical about sharing your bank account information, it’s also possible to use credit cards, which give you an extra layer of buyer protection. Here is a list of reputable exchanges to purchase Bitcoin, and possibly a few other select coins directly with fiat:
You may be asked to provide identification and other personal details to receive higher limits. This is in order to be in compliance with Know Your Customer and Anti Money Laundering laws.
Purchase From Individuals
The easiest way to purchase from an individual is to use Local Bitcoins – https://localbitcoins.com/. Using this website, you can search and find someone near your location that you can buy BItcoins from in person. Offers are listed by location, payment method, and asking price. For safety reasons, be sure to meet up in a public place.
You may also run into people online that are wanting to make OTC (Over The Counter) transactions for coins. Unless you know them personally, or are using a very trusted escrow service, I would recommend to steer clear from these offers. You also may see some listing on eBay that have coins for sale. While this may be easy to do, the prices asked are usually outrageous.
Accept Cryptocurrency As Payment For Goods and Service
There are services available that enable online store owners to accept payments in cryptocurrencies. As an online seller myself, one of the biggest benefits to this is that there are no chargebacks. Whenever a payment is made, it’s final (no givebacks). You can find a lot of information regarding shopping cart integration:
Get Free Coins!
There are websites out there called “faucets” that give out tiny amounts of coins to visitors at different intervals. Why would someone do this? Well, these websites usually are full of advertisements, or are wanting you to use other services available. The more people that visit, the more money they make. So there is a balancing act of how much per person that they make, and how much they give out.