How to Get Bitcoin Fast

How to get bitcoins Fast?

Using dollars or pounds is easy.

You get paid in them. They’re in your bank account (hopefully). And you can pay for things with them via electronic banking, by cheque, credit card, or in cash.

But where on earth do you get bitcoins? There are three ways.

You can get paid in bitcoins. 
You can buy bitcoins. And last of all (the very unconventional bit), 
you can make bitcoins. 

Yes, you can, literally, create money.

You earn bitcoins by doing or selling something in exchange for bitcoins – just as you would earn normal money. If I do this job for you, you pay me in bitcoins. You buy bitcoins just as you would buy and sell foreign currency – from the Bitcoin equivalent of a bureau de change, known as a Bitcoin exchange, or directly from an individual. You hand over your dollars, pounds or whatever currency you’re using and you receive bitcoins.

To create bitcoins, you run the Bitcoin software on your computer. It’s called ‘mining’ – more on that later. But I should say that mining has now progressed to the point at which regular home computers are no longer much good.

Of course, you need somewhere to keep your money. You could keep your dollars in a bank account, your back pocket, your wallet or purse, even under your mattress. Bitcoins are kept in a ‘digital wallet’.

There are hundreds of places to get a wallet, just as there are hundreds of places to get an email account. Often people will have more than one. You can keep a wallet on your computer or your phone, you could keep one on a hard drive off-line, or you could keep one with an exchange. Some people with lots of bitcoins keep them in a wallet on a hard drive in a safe.

Each wallet has its own address – a sequence of different numbers and letters. To make a payment, you click on your wallet, type in the number of coins you wish to pay, copy and paste the payee’s wallet address, hit send and the payment is made. To receive a payment in bitcoins, all the person paying needs is your wallet address. 

When you receive a payment, your computer might give you a little ‘ching’ sound to notify you. It is as simple as sending an email. With barcodes you can open your wallet on your smartphone, photograph the barcode, hit send and the payment is made. The day is not far off when you will walk into a shop, select an item you wish to buy, photograph the code on the label, payment will be made automatically and off you go.

Once you get the hang of it, it is as simple as using a credit card. And, as long as you have internet access, there are no barriers to entry.

Read More: How Bitcoin Could change Everything

Cash in my wallet, money in the bank 

I bet you use different kinds of money all the time, sometimes without even realising it. In various online accounts, I currently have: some dollars, some pounds and some euros. I have some air miles from two different credit card companies. I have some supermarket rewards points from three different companies. In addition, I have some bitcoins in a wallet on my computer.

These are all tokens with some kind of value, which can be swapped for goods or services. They are all, in other words, different forms of money – nine in total. Of course, the dollars are more widely accepted than my supermarket rewards points – they are a more effective form of money. But those supermarket reward points are still exchangeable for goods and services of some kind and therefore are also a form of money.

What’s more, I have none of these monies on my person. They are all stored and transacted on some computer somewhere – they are all forms of digital money. If I want to exchange the supermarket rewards points or the air miles for some kind of good or service, I must do it through the issuer.

I can send you the dollars, pounds or euros, but I have to do it through a bank. If I had those dollars, pounds or euros in cash on my person and you were standing next to me, I could hand you that money directly. But most of the people or companies with whom we transact today are not in our immediate vicinity, so we have to send the money via a bank or even a courier.

Making payments this way can be costly, particularly payments abroad or for small amounts. Western Union, for example, can charge as much as 10% of the total money transferred.

There is also the issue of privacy – the bank and people who work for it can see how much money you have, what you buy with it, who you buy from – and what your entire spending habits are.

There is also the issue of risk. The courier could be robbed, the bank could go bust (in theory at least) and so on. It is also worth remembering that money deposited in the bank becomes the property of the bank; it is no longer yours – a fact the majority of people are not aware of.

Also, not everyone in the world has a bank account. While over 90% of adults in first world countries do, in poor countries that number falls to about 40%.8 Sixty per cent of people in poor countries, in other words, have no access to basic financial services and thus are excluded from the financial system.

But here’s the key: with internet access, I can send a bitcoin directly to you with no intermediary, just as I could hand you a note if you were standing next to me. A bitcoin transaction is direct, frictionless and private.

In other words, unlike the dollars, the air miles and all those other forms of money, the bitcoin is digital cash.

Digital cash.

The possibilities are endless.

Read More: What is Bitcoin and How do i get it?