$INTL (No U.S.)
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.
- Travel with someone.
- Pre-setup a wallet on a phone. Make a back-up of the wallet (usually a seed phrase) off the phone.
- You can buy a fraction of a bitcoin. For example, $15 worth of 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.
Shop at supported stores and get bitcoin as cashback using these services! Many mainstream brands are supported!
Shop using this debit card and you will receive bitcoin as cashback, just how your credit card rewards you with reward points.
Try to sell things for bitcoin or accept bitcoin for a service that you provide. Maybe offer a deal if they pay in bitcoin.
Craigslist, a large local advertisement website has a "cryptocurrency is okay" checkbox for an accepted payment method.
- Make sure you have a wallet ready before meeting.
- After the buyer sends the bitcoin, check to make sure your wallet received the bitcoin.
- Wait for the received bitcoin in your wallet to get 1 transaction confirmation for higher valued sales.
Your employer has an option to be paid in bitcoin (most likely a bitcoin related company)
Do freelance work and accept bitcoin for it. Maybe offer a deal for customers paying in bitcoin.
Use a 3rd party company to automatically convert a % of your payroll into bitcoin. such as Bitwage
- Bitcoin in it's current state is very volatile.
Trading is an attempt to gain more bitcoin or fiat through the buying and selling of bitcoin during price movements.
Standard Exchange Websites
Bitcoin Investment Vehicles
Exchange-Traded Funds (ETF)
- Coming later...?
- Avoid day trading if you aren't a professional.
- Avoid storing bitcoin on an exchange for extended periods.
You can participate in mining with any CPU, video card or ASIC. But to have a chance of being profitable you need to use specialized hardware called an ASIC. In fact, if you try mining with CPUs or video cards you will lose money from electricty costs.
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.
- Don't expect profits unless you heavily invest in mining.
- Considerable planning, calculations and capital required for those serious about mining.