Buy Bitcoin

HOW TO GET YOUR BITCOIN


Apps
All apps supported on:
AndroidiOS


Bitcoin only - increased security, no scams, no confusion.
Supports Lightning payments.
Supports DCA
Lists altcoins to take advantage of retail. Exchange security decreased.

Tips
  • You don't have to buy a whole bitcoin. For example, you can purchase $15 worth.
  • Take custody of your bitcoin by withdrawing to your personal wallet. Leaving it on a custodial service is high risk.
  • Enable two-factor authentication for account logins to increase your security.
  • Avoid altcoins, learn why here.
  • Respect your privacy? Learn how to keep it here.
KYC Exchange Websites


Bitcoin only - increased security, no scams, no confusion.
Supports Lightning payments.
Supports DCA
Lists altcoins to take advantage of retail. Exchange security decreased.



Non-KYC Exchanges


Supports Bitcoin only - increased security, no scams, no confusion.
Supports Lightning payments.

Tips
  • You don't have to buy a whole bitcoin. For example, you can purchase $15 worth.
  • Take custody of your bitcoin by withdrawing to your personal wallet. Leaving it on a custodial service is high risk.
  • Enable two-factor authentication for account logins to increase your security.
  • Avoid altcoins, learn why here.
  • Respect your privacy? Learn how to keep it here.
Bitcoin ATM

Flowers

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

Flowers
The 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 don't have to buy a whole bitcoin. For example, you can purchase $15 worth.
  • Listed services aren't wallets. Withdraw bitcoin to your personal wallet when ready.
  • Enable two-factor authentication for account logins when available for increased security.
  • Avoid altcoins, learn why here.

Bitcoin Rewards

Shop at supported stores and get bitcoin as 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

Try to sell things for bitcoin or accept bitcoin at your store. 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. Don't expect to get many (or any) bitcoin offers though.


Tips
  • 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.
3 Ways To Get Paid in Bitcoin for Work

  • If your current 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


Tips
  • Bitcoin in it's current state is very volatile. Expect your value received in bitcoin to fluctuate a lot.
Trading & Investment Vehicles

Day trading is an attempt to gain more bitcoin or fiat through the buying and selling of bitcoin during price movements. This is not a recommended method of aquiring more bitcoin because:

  • You will most likely lose your bitcoin due to the nature of the market.
  • In most cases, every sell is a taxable event.
  • There is counterparty risk.

An investment vehicle is a custodial company that buys and stores bitcoin on your behalf. This is also not a recommended method to buy bitcoin because:

  • You don't know for sure if the company is holding your bitcoin 1:1. They could be running a fractional reserve.
  • In most cases you can't withdraw your bitcoin.
  • Companies get hacked, bankrupt, funds seized or have inside jobs all the time
  • Giving your bitcoin for someone else to hold defeats the whole purpose of Bitcoin.

Standard Exchange Websites

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 due to risk of hacks, etc.
Mining

You can participate in mining with any CPU, video card or ASIC. But to even 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 100% lose money from electricty costs alone.

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 so you can probably cross mining off the list for a way to aquire your bitcoin.
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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