Buying Bitcoin

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After the opening Bitcoin address-account you can start buying coins. There are several ways to buy Bitcoins.

Buying Bitcoin from individuals


Buying and selling coins to individuals is carried on specialized sites, such as LocalBitcoins. User should select the country and the city in the special window, fill in the information on the number of coins and select the purchase payment method.

Seller should be chosen according to the grade level on the site. Purchasing Bitcoins at the unaccredited sites or from individuals is not recommended due to the high fraud risk.

Buying Bitcoin in exchangers

This method is the safest to purchase Bitcoins. There are many large exchangers where Bitcoins can be exchanged for other currencies or paid by credit card, such as CoinCorner

You can open the WebMoney purse to store Bitcoins. [1].

Trading on the stock exchanges

Such way of buying Bitcoins and earning on rates difference is possible only if you know the peculiarities of exchanges operation. One of the largest and oldest stock exchanges in the network is Mt. Gox that has held more than 80% of all transactions in early 2013, but at the end of February 2014 it has closed. [2].

Sale of goods and services

You can get Bitcoins in exchange for the sale of goods and services. In this case, the seller receives coins at his personal Bitcoin-account.


Mining the kind of earning Bitcoins conducted via computer software and its power. Mining is a process with the main objective to ensure Bitcoin operability. Computer calculates the Bitcoin tasks without the user, thus confirming the transactions that occur in the network. As a reward for handling Bitcoin miners currently receive 25 BTC.

Mining requires entry into the pool, which is a special service, which is provided by users with the power of their computers. All money received from the mining within the pool is allocated among users in the order prescribed by the master of the pool. The user also can practice solo-mining, but the profit will be minimal, since the user's computer power is much less than the power of other miners, which greatly reduces the chance to close the block before the rest of the participants. When you participate in the pool, your profit is higher.

Transaction processing

Cryptocurrency transfer is performed directly without the involvement of intermediaries. Transactions with Bitcoins cannot be undone. Any transaction has to be confirmed in the system several times and then it is assumed to occur.

See also




External Links