The tech world is always throwing up new ideas and innovations. In 2009, the world was given a potentially epoch-making piece of technology known as bitcoin. By allowing people to send, receive and trade currency in a unique and decentralized way, bitcoin instantly became a threat to traditional payment methods. Although the cryptocurrency was only adopted by a small group of computer geeks in the early days, it’s now starting to find its way into the mainstream. A flood of interest in 2017 pumped the value of a single bitcoin to record levels, while companies of all shapes and sizes started to accept BTC as a form of payment.
As interest in bitcoin has increased, the sector has a whole has grown. Today, as well as hundreds of altcoins offering a similar service to bitcoin, the underlying technology powering all cryptocurrencies is being adopted by various industries. From banking to music and healthcare, blockchain is now being used to process and store data in a more secure way. In simple terms, the crypto world has come a long way since 2009 and now everyone wants a piece of the action. Back when the technology was brand new, only those that were good with a computer could collect some coins. As a consumer, the market is now set-up for novices and there are three easy ways to bag some BTC.
Credit And Debit Cards
The first way to convert your native currency for any cryptocurrency is to make a payment using your credit or debit card. In the same way you can purchase foreign currency online, you can do the same with bitcoin. In this instance, it’s not a bureau de change you need, it’s an exchange. The largest exchange at the moment is Coinbase. After creating an account, you can select the bitcoin option, input the amount you want to purchase and click confirm. As well as allowing you to buy BTC, Coinbase acts as a wallet from which you can send, receive and store credits.
In line with modern payment methods, bitcoin businesses now accept eWallet transactions. PayPal has become one of the leading solutions in this space thanks to its reputation and security provisions. In fact, what’s interesting about PayPal payments is that you can now access them through third-party platforms. At Coinlist, users not only get links to places where it’s possible to buy bitcoins using PayPal but also advice, reviews and guides. Because this technology is so new, most people are unsure about what to do and how to do it. Third-party sites help bridge the gap and, in turn, make the payment processes more accessible for newbies.
Exchange Crypto For Crypto
The final way to bag some bitcoin is to exchange it for another cryptocurrency. If you scroll through a list of altcoins, you’ll see that there are now hundreds of alternatives to bitcoin. In fact, many of the altcoins on the market perform a different function to bitcoin, which means it’s worth spreading your interests. With so many alternatives out there, you can purchase an altcoin and then use an exchange to trade it for some bitcoin. What’s nice about using this strategy is that you can use multiple cryptocurrencies at once. Doing this is a great way to fully immerse yourself in this new technology and get the most out of the sector.
Naturally, the method you choose should be based on your preferences and the one you feel comfortable with. Whichever way you go though, it’s now a lot easier to buy bitcoin and become part of the payment revolution.