How to use Bitcoins

The Uncomplicated Way

Written by admin

Whenever you are investing with Bitcoin, you will have to obtain coins as we have already established that way you can use them at a later date to purchase things. There are at least five separate ways that you are going to be able to invest with Bitcoin.

Mine coins: This is a less common option whenever you are spending with Bitcoin. This is because it is going to involve that you solve complex mathematical equations and show your proof of work so that the chain can verify that you did the work properly.
Trade coins: There are going to be trades that you can locate online so that you can purchase coins. This is one of the more popular ways that people are going to get coins because you are going to be using traditional currency so that you can obtain digital currency. However, one of the issues with this type of negotiation is that it can take up to two weeks for a bank account to verify the trade and send the proper proof of identity. Whenever this happens, you are going to be waiting two weeks to get your coins, and at that point in time, you may forget that you have even purchased the coins.


Buy face to face: If you want to get coins quickly, then you are going to want to complete a face to face negotiation. But, this is going to very dangerous. There are stories that have made the news about people being robbed whenever they meet someone face to face so that they can get coins. Being that a single Bitcoin is going to cost at least a hundred dollars if not more, the bigger the investment, the more money that you are going to have to have on your person so that you can get a number of coins. Therefore, if you are going to have a face to face meeting, you are going to want to make sure that you are taking the same precautions that you would take if you were going to meet someone with you so that you are protecting yourself and the other person.

Face to face trade: This is going to happen when a Bitcoin investor is looking for an easier way to get coins. A trade is going to be more complicated than a face to face negotiation. Face to face deals are typically going to be known as buttonwood meetups, and they will be similar to the trades that used to happen with the New York Stock.

ATMs: An ATM is going to be the safest bet for you to get Bitcoins. It is important that you know that the Bitcoin machine will charge you a fee of five percent per negotiation and it is going to allow you to do a hundred thousand dollars’ worth of negotiations if you have the money to complete them.

About the author