The Frisky
  • Home
  • News
  • Health
  • Celebs
  • Movies
  • Love
  • Relationships
  • Style
  • Entertainment
  • Parenting
  • Royals
  • Travel
  • About Us
  • Latest
  • Contact Us
The Frisky
  • Home
  • News
  • Health
  • Celebs
  • Movies
  • Love
  • Relationships
  • Style
  • Entertainment
  • Parenting
  • Royals
  • Travel
Business

Less Known Ways of Obtaining BTC

by Wendy Stokes April 17, 2021
by Wendy Stokes April 17, 2021

There is a rising number of investors because they think by investing in BTC, they can earn a huge profit. Despite being known as the first decentralized currency Bitcoin is also known for its moneymaking potential. Today there is a plethora of ways for obtaining BTC, some more popular than others. In this article, we provide an overview of some of the less-known ways of getting BTC along with the main options.

Source: weforum.org

Contents

Bitcoin Mining

This was the primary way of getting BTC prior to the explosion of Bitcoin’s price and the rise of the popularity of cryptocurrencies. Bitcoin mining today is mainly done as a group on the network. However, due to the regular occurrence of Bitcoin halving, which is an event that takes place after 210,000 BTC are mined the reward or for the miners is decreasing – today is 6.25 BTC. On the other hand, the competition is also rising and the network is overly saturated with miners, which means the process of mining is also increasing in difficulty.

On top of that, the costs related to mining, including, electricity and computing power are also a significant part of mining. Overall, Bitcoin mining isn’t that popular way of gaining BTC. Still, when conducted as a group whether as part of mining pools or farms, users do have a chance to gain BTC, receive transaction fees, and decrease the cost of mining.

Source: EuropeFX Review Trading

Automated Trading Sites

If you are also completely new to the world of cryptocurrencies, then you will be glad to know that the latest trend in trading is automated trading. This is an effective way of earning BTC. Automated trading systems rely on Artificial Intelligence technology to perform trading and conduct thorough fundamental and technical analysis in order to provide the best chance for the users to earn a high return of investment. One of the top options available today is bitcoincircuit.

Source: The Write Life

Freelance Gigs

This is actually not so known way of getting BTC. Freelancing is exploding as well as the gig economy and you can easily find a lot of temporary jobs or online gigs. Of course, there are some that pay in BTC.

It just makes it convenient for anyone that can’t afford to purchase one Bitcoin as its price is currently over $60,000. Hence, there are sites where they pay you to write articles or fill out surveys, for example. However, keep in mind that you will probably be paid in Satoshis, and you will need to earn your Bitcoin over time.

Source: Business Partner Magazine

Bitcoin ATMs

Bitcoin ATMs have been around for a while, but they usually offered one function – either you can buy BTC or sell BTC. Today, as the technology is quite advanced, and you can find Bitcoin ATMs that offer both of these functions. So, you can just use your Bitcoin wallet and ID to obtain BTC in a physical or location. There are approximately 14,000 Bitcoin ATMs across the world and it’s very likely that this number will explode in the future.

Source: Medium

Popular Ways of Getting Bitcoin

While we so far discussed the lesser-known ways of obtaining BTC, it’s now time to touch on the more common ones.

Buying Online

There isn’t a more convenient way of obtaining BTC than buying it online. This will also be the primary way of starting your career as a cryptocurrency trader. This option is easily available to you thanks to the popularity of trading, exchange, sites. These websites offer a unique service to cryptocurrency investors as they make it possible to buy BTC with USD, EUR, GBP, or any other currency.

Most of these also give you the option to withdraw cryptocurrencies via bank transfer or directly to your Visa or Mastercard.

Nowadays, more than 20 cryptocurrency trading sites exist. The most widely popular one is Binance. Unfortunately, Binance is banned in the US. So if you’re a US resident it’s recommended to go with the second-best, which is Coinbase.

Unlike Binance, Coinbase doesn’t give you access to hundreds of altcoins that you can trade your BTC for. But like Binance, both of these websites give you the option of buying and selling Bitcoin.

Other popular trading sites include CEX.io, KuCoin, eToro, Bisq, Gemini, etc.

Source: Inside Bitcoins

Buying in Person

Bitcoin and cryptocurrencies are regulated in a lot of countries around the world. This makes it hard to buy and sell BTC as you wish. So the primary way of obtaining BTC is by buying it directly in person from another user that already owns the currency.

As you can imagine, the person you’re buying from is probably mining the BTC or getting it from other lesser-known methods. But what’s important is that this option is frequently exercised by hundreds of thousands of people each day. This option does come with certain risks, as you’re supposed to pay them in person in cash.

Getting Paid in Bitcoin

This one might sound similar to doing Freelance gigs, but it’s actually quite different. There are many people that prefer to buy and sell goods using BTC. Naturally, this presents a unique option for you to seize.

If you have a unique skill that you can monetize, then you can cater exclusively to the cryptocurrency community. Regardless of what service or product you’ll offer to this community, do know that there will be plenty of people to cater to.

You can also provide a discount if they pay in BTC as opposed to other currencies such as ETH, XRP, USDT, etc.

Bottom line is that you’ll be doing business with the very people that mine, trade, and obtain Bitcoin in lesser and commonly known ways. As Bitcoin becomes a more scarce asset, it would be wise to start accumulating more of it as the price will only go up.

Sourc: finance

Conclusion

Due to the availability of online trading sites not only Bitcoin is a highly liquid asset, but also it is more accessible than any other cryptocurrencies. Furthermore, there is an increasing number of options when it comes to obtaining BTC, especially as a lot of famous brands alongside brick-and-mortar businesses are supporting the mass adoption of cryptocurrencies.

bitcoin miningBTCbuying onlineTrading Sites
Wendy Stokes

previous post
Cable Vs Satellite TV Services For Homes – 2023 Comparison Guide
next post
6 Tips for Implementing Static Code Analysis Tools

Related Posts

Cryptocurrency Casinos – The Fate Of Online Gambling

December 20, 2022

5 Reasons Why Bitcoin and Other Digital Currencies...

January 24, 2022

The Impact of Coronavirus Pandemic on the Cryptocurrency...

January 24, 2022

Recent Posts

  • From Thomas Edison to Elon Musk: A Look at the Most Famous Inventors in History

    April 1, 2023
  • The Best Game Adaptations from Popular Media

    March 31, 2023
  • 10 Common Mistakes to Avoid When Marketing on TikTok

    March 31, 2023
  • How to Choose the Right Toothbrush for Your Teeth

    March 31, 2023
  • How Much is Too Much? Understanding Proper Vaping Habits

    March 31, 2023
  • OnlyFans: Find the Best Girls in These Interesting Niches

    March 31, 2023
  • B Cup Breasts – Perfect B Cup Size Example, Comparisons & Best B Cup Bras

    March 31, 2023
  • Video Collage Ideas: 5 Tips for Making Your Memories Come to Life – 2023 Guide

    March 31, 2023

Categories

  • Accessories
  • Animals
  • Anime
  • Art
  • Astrology
  • Beard Care
  • Beauty
  • Betting
  • Biography
  • Blog
  • Business
  • Buying Guides
  • Cannabis
  • Cars
  • Casino
  • CBD
  • Celebs
  • Children
  • Citizenship
  • Clippers
  • Clothes
  • Computer
  • Couple Time
  • COVID-19
  • Crime
  • Crypto
  • Culture
  • Design
  • DIY
  • Economics
  • Education
  • Entertainment
  • Environment
  • Family
  • Fashion
  • Featured
  • Food
  • Food & Drink
  • Furniture
  • Galleries
  • Gambling
  • Games
  • Gardening
  • Gifts
  • Girl
  • Gossip
  • Guide
  • Guys
  • Hair
  • Hair Care Tips
  • Hair Dryers
  • Hair loss
  • Hairstyles
  • Health
  • Highlights
  • History
  • Hobby
  • Home
  • Horoscopes
  • Hot Rollers
  • How to …
  • Industry
  • Internet
  • Interview
  • Law
  • Legal Advice
  • Life
  • Lifestyle
  • Love & Sex
  • Love Your Self
  • Makeup
  • Marketing
  • Medicine
  • Mind & Body
  • Money
  • Motorcycle
  • Movies
  • Moving
  • Music
  • Nails
  • Net Worth
  • News
  • Parenting
  • People
  • Pets
  • Photography
  • Products for Hair
  • Real Estate
  • Recipes
  • Relationships
  • Religion
  • Royals
  • SEO
  • Shopping
  • Skincare
  • Sports
  • Studying
  • Style
  • Super Stars
  • Tech
  • Technology
  • The Body
  • Tips
  • Tips & Tricks
  • Tools
  • Toys
  • Travel
  • Type
  • Uncategorized
  • Vehicle
  • Video
  • VR
  • Wedding

Contact us:

santosmilewa [at] demotix.com

Footer Logo
  • About Us
  • Latest
  • Contact Us

© 2023 - All Right Reserved.

TheFrisky.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. Amazon, the Amazon logo, AmazonSupply, and the AmazonSupply logo are trademarks of Amazon.com, Inc. or its affiliates.

We at TheFrisky participate in various affiliate marketing programs, which means we may earn commissions on products or services that we recommend or promote through our website. When you click on a link to purchase a product or service that we have recommended or promoted, we may earn a commission from the sale. This commission helps us maintain and improve our website and provide you with valuable information and resources.

The Frisky
  • Home
  • News
  • Health
  • Celebs
  • Movies
  • Love
  • Relationships
  • Style
  • Entertainment
  • Parenting
  • Royals
  • Travel
© 2023 - All Right Reserved.

TheFrisky.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. Amazon, the Amazon logo, AmazonSupply, and the AmazonSupply logo are trademarks of Amazon.com, Inc. or its affiliates.

We at TheFrisky participate in various affiliate marketing programs, which means we may earn commissions on products or services that we recommend or promote through our website. When you click on a link to purchase a product or service that we have recommended or promoted, we may earn a commission from the sale. This commission helps us maintain and improve our website and provide you with valuable information and resources.