How to get Cryptocurrencies
For the purchase of cryptocurrencies, there are several options available. We will describe each of them in this article.
You can obtain cryptocurrencies in several ways:
- Cryptocurrency exchange (exchange office)
- Bitcoin ATMs
- Purchase from another individual owning cryptocurrencies
- Mining
Crypto Exchanges
To buy on a cryptocurrency exchange, you need to find one – popular ones include Coinbase, Bitfinex, Kraken, and others. On the exchange, you need to create an account, often with verification if you want to buy cryptocurrencies with regular currencies (crowns, dollars, pounds, etc.). Once you have an account on the exchange for some regular currency, you can exchange it for any cryptocurrency at an appropriate time. The same can be done in the opposite direction – that is, selling cryptocurrency for regular currency. Purchasing cryptocurrency or topping up your account can often be done using a debit or credit card. However, some banks restrict this and do not allow payment to be authorized or completed. Cryptocurrency exchanges allow for automated purchases at regular intervals, which can be utilized when investing in cryptocurrencies using the DCA (dollar cost averaging) strategy – that is, purchasing cryptocurrency at different times, which results in averaging the purchase price.
Bitcoin ATMs
Bitcoin ATMs are a form of purchase that can be done anonymously to a certain extent, as you can buy cryptocurrencies up to a certain limit without the need for identification. The process works similarly to using a traditional ATM. It’s important to note that the exchange rate is constantly changing and can sometimes change significantly. Therefore, the exchange rate in a Bitcoin ATM is always fixed at the time of the transaction.
Purchase from another person
This method involves buying from another individual who owns cryptocurrencies. This can be done through various online platforms or in person. The exchange rate and the specifics of the transaction would be agreed upon between the parties involved.
Mining
Mining is more of an investment form, but we mention it here because it is one of the ways to obtain cryptocurrency.
