Heard about Bitcoin and looking to get in on the latest action? In our guide below we breakdown all the available options to acquiring and investing in Bitcoin. When you hear the term “Bitcoin” or “Bitcoins”, that can either mean pieces of Bitcoin (0.0001 BTC), also known as Satoshis or whole Bitcoins (2.0 BTC).
The cryptocurrency market is extremely volatile at the moment and may be that way for some time. Once all the regulations are put in place and Bitcoin becomes more mainstream, that is when the price of a single coin can potentially explode upwards.
Purchase Bitcoin Using a Credit Card/Debit Card
The first thing you must have is a Bitcoin wallet. The term wallet is exactly how it sounds, it’s a place where you will hold your money or in this case, Bitcoin. With a Bitcoin wallet, you can send and receive BTC to/from other people or make payments anywhere that accepts Bitcoin. Coinbase provides you with a wallet upon sign-up and allows you to purchase Bitcoin directly from credit cards, debit cards, and via bank transfers. Compared to other online vendors, Coinbase has one of the lowest fees in the market and allows you to purchase as low as $1 (USD).
Because Coinbase makes it easier to purchase BTC, holding it into your account with an expectancy of it raising in value is still very much likely. According to McAfee, he still believes that due to high demand and scarcity, Bitcoin may hit a price of $1 Million. Whether that actually happens or not, people are willing to take their chances and invest in cryptocurrencies as much as possible.
Coinbase also gives you the ability to purchase other alt-coins on their platform such as Ethereum, Ethereum Classic, Litecoin, Bitcoin Cash, Ripple, Dai, and Stellar Lumens. You can convert other cryptocurrencies into Bitcoin using their base platform and Coinbase Pro trading platform. After sign-up and verification, you can instantly start investing, trading, or exchanging Bitcoin. Experience the platform and manage your cryptocurrencies via their website or mobile app which is available in the Google Play and Apple Store.
Sign-up for Coinbase here.
You will receive $10 free in Bitcoin when spend $100 or more.
A very popular mobile app that has been making it very easy to send money to family, friends, and clients is called CashApp. With the click of a button, you can instantly send and receive money without having to wait 3 business days (traditional bank transfer speed). Due to popularity, the publishers of CashApp added new features for Bitcoin. Now you can buy Bitcoin instantly with CashApp.
When CashApp is connected to your bank account, you can instantly purchase Bitcoin in seconds. You can also use the funds you receive from people and convert it into BTC. Once you have Bitcoin in your account, you are able to sell it and turn it back to cash when the value rises. After further verifying your account with CashApp, you are given your very own Bitcoin Wallet. Send and Receive Bitcoin from anywhere around the world.
A feature that stands out the most with this platform is the debit card that is provided to you upon sign-up. If you earn Bitcoin through investing or mining, or any profitable methods, you can send your profits to your CashApp wallet, convert your BTC into cash, and then spend it using your debit card.
Sign-up with CashApp here.
You will receive $5 free when signed up.
One of the top places to purchase Bitcoin online is none other than xCoins. This platform allows you to purchase Bitcoin using a variety of methods such as credit cards, debit cards, and a PayPal account. The ability to purchase digital assets with PayPal is a big feature that many other platforms simply do not have. Businesses and millions of people around the world use PayPal daily, why not have that option.
xCoins makes it affordable to purchase Bitcoin. The minimum to buy is only $20 with a miner fee of 0.0002 BTC. Upon sign-up you receive your very own wallet that will enable you to send and receive BTC to/from other vendors using Bitcoin. Another popular feature on this platform is that you can become a Bitcoin Lender and earn profits from other people’s sell transactions.
Cloud Bitcoin Mining
A very popular way of growing your Bitcoin is through the use of Cloud Mining. Cloud mining allows you to use or rent out powerful machines (mining rigs) that will grow your money. When renting out machines or purchasing contracts, you will have to choose the hash-rate or mining speed that you can afford. The bigger the hash-rate, the more profits you can receive.
The benefits of cloud mining is very notable. You don’t have to rely on your own equipment in order to start mining Bitcoin. Mining can be very taxing on your electric bill, with cloud mining that is not an issue. Because you are using some one else’s equipment you will basically be paying a small fee for transactions or an upfront contract payment fee.
Here are a select few of profitable cloud mining companies.
Dualmine is a cloud mining platform that offers Bitcoin Mining as well as the ability to mine other cryptocurrencies. Dualmine offers you a 100 GH/s of mining power for free. The free mining power gets you accumulated to the system before you decide to invest in any more mining contracts.
Each of their contracts last for 2 years. Not only do you get mine to mine Bitcoin, but at the same time you get to mine other cryptocurrencies such as Monero, Dogecoin, Dash, Bitcoin Cash, Ethereum, and Litecoin. Manually re-invest your profits to earn more hash power.
Genesis Mining is one of the leading and long running providers of Bitcoin cloud mining today. Due to the high demand of Bitcoin, they have recently upgraded their capacity to allow more mining contracts to be purchased. Return on investment has also improved for Bitcoin. All you have to do is setup your account and choose a Bitcoin mining plan to get started.
Genesis Mining allows you to purchase contracts 12 months or 18 months. They support mining of other cryptocurrencies such as Dash, Litecoin, Monero, Monero Classic, and Zcash. Funding your account to get started has been simplified with direct debit card and credit card purchases. You don’t have to spend extra time transferring funds to order your mining contract(s). Genesis Mining allows daily payments into any wallet of your choosing.
CPU/GPU (Computer) Bitcoin Mining
If renting hardware using cloud mining is not ideal for you or if ASIC mining equipment is too expensive, then how about using something that you already have? A simple method you may be interesting in is mining Bitcoin with your very own computer. Depending on the power and speed of your computer, you can get a decent amount of hash power that will in turn give you daily profits. It’s important to note that if your computer is not compatible or has low-grade hardware, you will see little to no results.
Here are a few mining programs that you can use with your computer to earn Bitcoin.
One of the easiest ways of earning Bitcoin is none other than CryptoTab. This software acts as a web browser and runs as a miner that users your computer resources to generate you a passive income. With a decent computer you can see a small return daily. Based off of the Google Chrome programming, CryptoTab is a fast lightweight browser capable of earning you profits while you surf the internet or while your away from your computer.
To really earn with this program, the essential ingredient to success is building your network of referrals. The more people that join your downline, the bigger your passive profits. Share your affiliate link with family, friends, and promote it on social media to get more people in on the action. By helping people to earn Bitcoin, you yourself can earn more.
MinerGate is a favorite and the best way to earn Bitcoin for Free. Other than providing support for Bitcoin, they allow you to mine other popular alt coins such as Ethereum (ETH), LiteCoin (LTC), Bitcoin Gold (BTG), and much more. The software provides you with a nice dashboard, showing you the activity of all your coins being mined all in one location.
MinerGate I would consider the best option at the moment to acquiring free crypto-currencies. Bitcoin requires a lot of CPU/GPU power, but smaller coins that are moving up in value only require a minimum amount of processing power. You can get away with mining with an average computer and still see results.
While MinerGate is the computer friendlier version for mining, another software which is popular amongst many is Nicehash. Their software only works for computers that are up-to-date and have the latest hardware for serious mining. With Nicehash you can earn anywhere from $1 dollar a day to $15 dollars a day. It all depends on the power, speed, and capability of your computer.
If you are looking to purchase a computer specifically for mining, their is no time for penny pinching. You want to make sure you have a rig that is capable of high performance mining. For those who pay for their own electricity, be wary about the cost, this can affect your profit/loss ratio. Be sure to check out Nicehash’s profit calculator.
Powerful GPU/CPU’s to Choose for Mining
- Nvidia GeForce GTX 1660
- Nvidia GeForce GTX 1070
- Nvidia GeForce GTX 1080 Ti
- AMD Radeon RX 580
- AMD Ryzen 7 1800X Processor
ASIC Bitcoin Mining
One of the most popular methods (and still going strong today) to mining Bitcoin is by using ASIC (Application Specific Integrated Circuit Chips) hardware. ASIC mining is more powerful than personal computers because it’s sole purpose is for mining exclusively.
One brand that comes to mind that continues to dominate the ASIC mining hardware space is AntMiner. AntMiner (created by Bitmain) has flooded the market with powerful hardware capable of generating the user crypto-currency such as Bitcoin (BTC). The fastest unit to-date that offers a rate of 73 TH/s (tera hash per second) is the AntMiner S17+ unit.
By connecting your ASIC hardware to a shared Mining Pool, depending on your hash rate, you can generate a decent amount of BTC in your wallet. Below are all the popular ASIC mining devices available that will help you to get Bitcoin.
- Antminer S17+ (73 TH/s)
- Antminer S17 (50TH/s)
- Antminer S15 (28TH/s) | Read S15 Review
- Antminer S9 (14TH/s) | Read S9 Review
- Antminer T9 (10.5TH/s)
A Bitcoin faucet is where you get paid pieces of Bitcoin by solving a captcha form. How the owner of these websites profit is by displaying ads on the page. Their a plenty of faucets online that allow you to earn BTC every hour daily. Do this enough with more than one website, and you can see a decent return. Because profits are small, a good strategy is to reinvest those profits into another profitable platform.
Below are a few faucets to check out and see if they work for you.
This platform provides various ways of earning Bitcoin. Their core feature on the platform is their Bitcoin faucet where you can earn BTC every 30 minutes. How the system works is every time it’s time to claim your free BTC, you click on the Claim button. Depending on where you lucky number lands will determine how much free BTC you will get. For example, the default reward you will receive when landing anywhere between 0 – 9985 is 23 satoshis or 0.00000023 BTC. Landing between 9986 – 10000 will give you a higher return.
Other features on their platform include a lucky wheel where you get the chance to double your existing profits. The catch with this game is depending on how much you wager and where the wheel lands, you can also lose your profits just as fast. FreeBTC also has an offer wall where you can complete tasks such as surveys and interacting with mobile apps. After each completed task you receive Reward Points that can be converted into BTC.
Investing Your Spare Change into Bitcoin
Their is a mobile app on the market called Acorns where you can automatically deposit your “spare change” (rounded to the nearest dollar) into a separate account. The transactions are so small that you won’t even notice it. Now you can do that with Bitcoin.
Coinseed is an app that allows you to connect your bank account to automatically fund your crypto portfolio. When payments are made, the spare change left over will be sent to your Coinseed account where your Bitcoin and cryptocurrencies grow. Example, you pay for a hamburger which costs $11.25, this amount will get rounded to the nearest dollar of $12.00, so .75 cents gets deposited to your wallet.
Coinseed also allows monthly recurring payments to be made. You can fund your account $30 automatically every month or make one-time payments anytime. Coinseed also has a Cash Back program where you can earn crypto on purchases from partner stores such as Walmart, Amazon, and eBay. They have a huge list of supported vendors and growing.
The spare change method has worked greatly for Acorns, and now Coinseed has taken it a step forward by allowing you to earn Bitcoin and other cryptocurrencies easily. Your money will accumulate overtime as you continue to make purchases. Because the transactions are so small, you won’t even notice it. Everyone uses their debit card/credit card for everything already. Why not invest in Bitcoin at the same time?
Fiverr Like Services (Get Paid in Bitcoin)
Everyone by now should know what Fiverr is, it’s a platform where freelancers and individuals sell their services such as marketing, graphic design, writing, video production, etc for $5 or more. How would you like to get paid in Bitcoin instead of cash? Now you can with a website called Freelance for Coins. Like Fiverr, FFC allows you to do small gigs and get paid in Bitcoin. As of right now, their are no service fees, so you are free to make a great profit.
Another way to receive Bitcoin is by exchanging them from other cryptocurrencies. Bitcoin may be considered Gold in the crypto world, but another altcoins such as Ethereum, Litcoin and Bitcoin Cash is right on it’s tail.
For example, let’s say you have Ripple (XRP) or Litecoin (LTC) in your Binance exchange account. Simply select the crypto coin you want to exchange for BTC, insert the value, then hit exchange. If you are new to crypto-exchange/trading platforms, you can follow this guide on how to use Binance Exchange.
If you live in the United States, three popular Crypto Coin Exchanges we recommend using is Binance, HitBTC, and Cryptopia. Out of the three, Binance is the more popular exchange platform on the web. The other two are excellent to have because they will exchange and hold coins that Binance doesn’t currently support.
Get Paid in Bitcoin to View Ads
Nothing more easier than to get paid viewing other people’s websites. All it takes is a simple click/view a day for a few minutes and your done. You accumulate micro-bitcoin (mBTC), also known as Satoshi’s. Once you have accumulated enough, you can then withdraw that money into a fixed Bitcoin amount right into a wallet of your choice. Their are a few websites at the moment that offer this service, but one that stands out the most is Clix Coin.
This platform allows you to earn Bitcoin by completing tasks such as viewing websites. The websites you will be viewing are from advertisers looking to promote their business or affiliate links. After each website is viewed for a set period of time (example 30 seconds), you are rewarded with pieces of Bitcoin (also known as Satoshis).
Clix Coin has three methods for viewing websites and earning Satoshis such as Surf Ads, Active Window Ads, and Auto Surf Ads. The amount of websites you can view are limited to what is available for that part of the day. You can usually finish viewing a set of ads one part of the day and comeback later and see a new list to earn Bitcoin from.
Clix Coin offers an affiliate program that allows you to share your affiliate link to get passive profits in your account. If anyone sign-up from your link and has viewed any website in their account, you will receive a small commission from their clicks.
Accepting Bitcoin As Payment
If you own a business that accepts cash, check, and credit cards, did you know that you can now accept payments in Bitcoin as well as other crypto-currencies? Online platforms such as WooCommerce gives you the ability to accept Bitcoin and Altcoin’s as a new form of payment. Other online eCommerce platforms such as Shopify will eventually follow suit as crypto-currencies continue to become more popular and mainstream.
If you want to accept Bitcoin offline, companies like BitPay offer a mobile app feature allowing you to accept payments from customers right through your phone or tablet device. Mass adoption for Bitcoin is the future, if you are a business owner it’s time to add crypto-currencies as another form a payment. If you have an online web store that uses WordPress or WooCommerce, then below are a few useful plugins you should consider.
Recommended WordPress Plugins:
- GoUrl Bitcoin Payment Gateway
- Blockonomics – WordPress Bitcoin Payments
- Mollie Payments for WooCommerce
Bitcoin Stocks To Invest In
If you’re on the fence about purchasing Bitcoin or looking for other forms of investment, you can always purchase stocks. Like Bitcoin itself, stocks go upward or downward. The list of stocks below provide an upward mobility mainly due to the massive rise of Bitcoin and other crypto-currencies. If the trends continue to rise, you can potentially more than double your profits.
CME Group (CME)
The CME Group is a mega exchange operator. They handle over 3 billion+ contracts with an estimated value of over $1 quadrillian dollars yearly all over the world. This stock looking to lead the pack when it comes to Bitcoin exchange and future contracts. As long a Bitcoin is healthy and growing, this is the stock to have.
Bitcoin Investment Trust (GBTC)
This stock “coincided” with the explosion of Bitcoin. This company purpose is to bring digital currency investments to small investors. GBTC provides you with the perfect opportunity to invest in Bitcoin without purchasing a single coin.
Overstock is an online merchant store that sells everything from kitchen accessories to jewelry and clothes. What makes this stock special is that it accepts Bitcoins as a form of payment. As the popularity of Bitcoin continues to grow, so will this stock.
A company that specializes in creating powerful GPU’s for computers and leading video game consoles such as PlayStation 4. Because of the rise in Bitcoin mining, Nvidia graphic cards have been flying off the shelves. As cryptocurrencies continue to grow, so will this stock.
Advanced Micro Devices (AMD)
Like Nvidia, AMD provides both GPU’s and CPU’s for computers and video game consoles. Because of the massive growth of Bitcoin, this stock continues to soar upwards. AMD will continue to grow as more cryptocurrencies continue to flood the market and become more mainstream.
Riot Blockchain (RIOT)
What powers data and transactions for Bitcoin and all other cryptocurrencies is Blockchain technology. If cryptos were to dissapear, the tech behind it will always remain, grow, and evolve. This stock option continues to shoot up at a tremendous rate and doesn’t look like it will stop anytime soon.
Like stocks or investing in other ventures, their can be risk in Bitcoin and all the other current and emerging crypto-currencies. But at the same time their is potential for a big return. By incorporating one or more of the strategies listed above, you have the opportunity to expand your new and existing portfolio with crypto-currencies.
Re-cap of services mentioned:
- CoinBase (Buy/Exchange Bitcoins, Litecoins, and Ethereum) Sign-Up Here.
- Binance (Exchange your Bitcoin and other cryptocurrencies) Sign-Up Here.
- Genesis Mining (Grow your Bitcoins, Ethereum, Litcoins by Cloud Mining) Sign-Up Here.
- MinerGate (Grow your Bitcoins, Dash, Litcoins by Mining with your own computer) Sign-Up Here.
Any questions on how to use Bitcoin or about any of the aforementioned services above, feel free to contact me or comment below.