Buy Bitcoin

HOW TO GET YOUR BITCOIN



Apps



Tips
  • You can buy a fraction of a bitcoin. For example, $15 worth of bitcoin.
  • Enable two-factor authentication for login when available.
  • Avoid altcoins, learn why here.
Standard Exchange Websites




Non-Custodial Exchange Websites



Tips
  • You can buy a fraction of a bitcoin. For example, $15 worth of bitcoin.
  • Enable two-factor authentication for login when available.
  • Avoid altcoins, learn why here.
Bitcoin ATM

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A machine to purchase (and in some cases sell) bitcoin using cash. Bitcoin ATMs have high fees and may require some sort of KYC check.


Two Types of BTMs

  • One-way: Buy bitcoin only.
  • Two-way: Buy and sell bitcoin.
Find a Bitcoin ATM


Tips
  • Travel with someone.
  • Pre-setup a wallet on a phone. Make a back-up of the wallet (usually a seed phrase) off the phone.
Bitcoin Services

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Basic function of a bitcoin service is to buy and/ or sell bitcoin. Most services require KYC meaning you need to submit identification documents to become verified.


Tips
  • You can buy a fraction of a bitcoin.
  • Exchanges/purchasing apps are not wallets. Withdraw bitcoin to your personal wallet when ready.
  • Do not purchase more than you can afford to lose.

Stacking Sats

Shop at supported stores and get free bitcoin cashback using these services! Many mainstream brands are supported!


Bitcoin Cashback From Debit

Shop using this debit card and you will receive bitcoin as cashback, just how your credit card rewards you with reward points.


Sell Stuff for Bitcoin

Basically barter: try to trade things for bitcoin. Sell things to your family, friends or on local advertisement websites like craigslist for bitcoin.

For example, craigslist has a "cryptocurrency is okay" checkbox for an accepted payment method.

When you meet to sell the item, just have a bitcoin wallet ready for them to send bitcoin to.


Tips
  • Check your wallet to make sure you received the bitcoin.
  • Wait for at least 1 transaction confirmation for higher valued sales.
  • Make sure you have a wallet pre-setup and ready.
3 Ways To Get Paid in Bitcoin for Work

  • Employer has an option to be paid in bitcoin (most likely a bitcoin related company)

  • Freelance work for bitcoin

  • Use a 3rd party company to automatically convert a % of your payroll into bitcoin. such as Bitwage


Tips
  • Bitcoin in it's current state is very volatile.
Trading

Trading is an attempt to gain more bitcoin or fiat through the buying and selling of bitcoin during price movements.


Standard Exchange Websites

  • See "BUY BITCOIN" tab.

Bitcoin Futures

Bitcoin Investment Vehicles

Exchange-Traded Funds (ETF)

  • Coming later...?

Tips
  • Avoid day trading if you aren't a professional.
  • Avoid storing bitcoin on an exchange for extended periods.
Mining

Bitcoin can be mined using CPUs, video cards and ASICs. But to have a chance of being profitable you need to use specialized hardware called ASICs. Mining is the act of processing Bitcoin transactions - in return miners can receive bitcoin.

Miners can combine their mining power in something called mining pools and share the bitcoin reward with others in the pool.

Most people won't get into mining.
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Tips
  • Don't expect profits unless you heavily invest in mining.
  • Considerable planning, calculations and capital required for those serious about mining.

“We have elected to put our money and faith in a mathematical framework that is free of politics and human error.”
Tyler Winklevoss - Investor and of Facebook fame

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