Here are the most common ways to get Bitcoins:
You can get Bitcoins by Mining
Bitcoins can be acquired by the process of mining. As the name suggests, you have to do some virtual digging to get the Bitcoins. People who mine for Bitcoins usually do it to earn some profits. There are special software programs which help you mine the Bitcoins. Since Bitcoin is a virtual currency, there is a Bitcoin network as well. The miner looks out for new block of Bitcoins in that network. The moment there is a new block, the person who is mining gets the Bitcoins.
You can do the exchange of currency
If you don’t want to get involved in the mining process of Bitcoins then you can also do the straightforward currency exchange. This is a very simple process. There are many Bitcoin providers out there and they are willing to give you this virtual currency in return for certain amount of physical money. Currently only Euros and Dollars are the accepted physical currencies that can be exchanged with Bitcoins.
Sell products and services for Bitcoins
You could be a vendor of certain products and services and start selling them for Bitcoins. For instance, you may have an ecommerce website selling certain items. If your website allows Bitcoin payment transactions, you can get Bitcoins in return for your products or services. Right now this is not a very popular option as there are only very few sites which are doing this. However, it is expected that after some time Bitcoins will become one of the primary modes of payments.
Are Bitcoins really safe?
There are definitely some doubts about the security of the Bitcoin transactions. Many of these concerns are not completely unfounded. If you like the concept of Bitcoins and want to use it then you will also need to be extra careful about the security. Many measures are being taken to make Bitcoin transactions safer but there are still many loopholes.
For instance, the web wallet used to keep the Bitcoins online is not considered to be very safe. Therefore, to maintain the security of your funds, it is advised that you use the offline wallet to keep your funds. The offline wallet stores the Bitcoins on your computer and is not accessible to the hackers. You can take it online only when you need to make a particular transaction.
Bitcoin is an online digital currency similar to a dollar or a pound but with a few exclusions. This digital monetary system was introduced by Satoshi Nakamoto in the year 2009. Bitcoin encloses a peer-to-peer payment system where no mediators exist therefore goods can be safely transferred between two individuals residing anywhere around the globe. It is linked with a heavy network of processors. The unit of currency for Bitcoin system can be easily acquired by joining the wide-spread network. Bitcoin endows with a fast, low-priced and safe transaction option but still, few of the investors are willing to stay away from this online digital monetary system. So the question still hangs back, is it secure to invest with Bitcoin?
The Bitcoin Recognition
Bitcoin, which has attained a name on top of the financial charts, came into view a few years back. This online digital currency is an amazing creation that has impressed many. Bitcoin has turned to get extremely famous around the globe. Moreover, this system has led a few of the top trades to consider it as a satisfactory source of payment. Bitcoin rates get high up to 10% and continue to rule the financial market and this has made many interested in investing in it.
Downside of Bitcoin
With an amazing positive aspect, crypto-currency also includes a few negative points. As mentioned, this thing is still going slow; and with that comes great suspicions. The prices of Bitcoin are unpredictable. The world is still astonished at its appearance and there exist a small number of Bitcoin holders. This leads to questions unrequited together with the cold fear among people as investing in a new unpredictable ‘gold mine’ can yield devastating effects. Its newness comes up with lack of regulations and scares off potential investors.
Bitcoin Investment – the Beneficial Aspect
The next unique feature of Bitcoin is that it does not include a central bank and neither does a central government control it. Bitcoin is a global currency. Its creation as well as existence lies behind a complex mathematical algorithm that allows it to cover-up the government related mishaps. The cases of political instability and government irrationalities that sink the economy down to disgrace and lead years of investments in a currency down the drain do not crop up in the crypto-currency system like Bitcoin. This online system comes up with a secure and friendly investment prospect together with low inflation risks.