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Author Topic: How One Can obtain bitcoins?  (Read 277 times)
shivamtrivedi9090 (OP)
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January 08, 2021, 10:15:40 AM
 #1

There are different ways by which we can obtain bitcoins like Buying on exchange, accepting bitcoin payments or using mining.
Which is the fast and beneficial resources of obtaining bitcoin??
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January 08, 2021, 10:28:34 AM
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 #2

There are different ways by which we can obtain bitcoins like Buying on exchange, accepting bitcoin payments or using mining.
Which is the fast and beneficial resources of obtaining bitcoin??

There are pro's and con's for each of these methods... Hard to say which one is fasted, safest, most beneficial... If there was one super-method, everybody would be using it and the other methods would hardly exist. In the end it's about finding a purchase method that suits you.

Exchanging on an exchange, paying by wire: if you stick to the biggest, regulated exchanges this could be pretty fast (depending on how much time it takes your wire transfer to be registered). Expect full KYC. Wether or not it's beneficial depends on your trading strategy and how the market is behaving, aswell as the fee structure of the exchange

Exchanging on an exchange, paying with credit card: if you stick to the biggest, regulated exchanges this is fast. Wether or not it's beneficial depends on your trading strategy and how the market is behaving, aswell as the fee structure of the exchange. Also: full KYC

Exchanging P2P: better for your anonimity, can be really fast (cash to BTC P2P for example). Usually the sellers do take a little larger profit margin, but sometimes deals can be done. Do realize you're going to somebody you have never met to exchange fysical money in your pocket against BTC. Story's of people getting robbed are not unheared of.

Buying BTC on one of those instant non-KYC websites: usually pretty fast, sometimes less secure, usually more expensive

Accepting BTC as payments: could be fast if you make a lot of sales... Could be nonexistant if you have no customers (or if your customers don't want to use btc). Can be expensive and insecure (if you use bitpay for example).

Mining: this is actually running a big business. If you have dirtcheap electricity, have a good deal with a hardware provider, have cheap labour costs, have a good warehouse to store your ASICs, this *could* be fast, safe, anonymous and profitable... But if you don't know what you're doing, or if you don't have a lot of investment money, or if you don't have cheap electricity,... you could be mining at a loss in no time...

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January 08, 2021, 12:17:40 PM
 #3

There are different ways by which we can obtain bitcoins like Buying on exchange, accepting bitcoin payments or using mining.



based on the three points of choice, which one can you achieve and do at this time?
for example, instead of you waiting a long time to mine, even though by buying on the exchange you can do it right away.
make that decision by comparing all the advantages and disadvantages.

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January 09, 2021, 12:49:49 AM
 #4

One can obtain bitcoin in many different ways, by mining, accepting bitcoin as payment, trading, buy and sell and many more.
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January 09, 2021, 03:58:39 AM
 #5

There are different ways by which we can obtain bitcoins like Buying on exchange, accepting bitcoin payments or using mining.
Which is the fast and beneficial resources of obtaining bitcoin??

It's like asking what's the fastest way of earning money. Obviously there's no sort of "best answer" to this question as it's going to be totally different for each person. Some people prefer accepting BTC payments, some people prefer mining it, some people prefer starting a typical business and just use their income to buy bitcoin, some people prefer getting a job and just use their wages to buy bitcoin, some people prefer trading, etc. Completely up to you.

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January 09, 2021, 04:16:21 AM
 #6

Everything depends on the way you take forward. There are local exchanges, where you need to provide KYC and then make buying with the payment option provided. With standard exchanges you get access depending on the level of KYC fulfilled. There are service providers on our forum who help with exchange of bitcoin for PayPal and other payments with the help of escrow. More ways are open infront of you, and it is purely your choice you to find the right one and benefit out of it. Mining is a big process where a capital investment, electricity, location and market progress need to be good.

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January 09, 2021, 04:27:34 AM
 #7

It's like asking what's the fastest way of earning money. Obviously there's no sort of "best answer" to this question as it's going to be totally different for each person.
There is no fast way to earn anything, you have to grind and work hard for it. As the quote above says, it is a matter of perspective.

One can obtain bitcoin in many different ways, by mining, accepting bitcoin as payment, trading, buy and sell and many more.
Don't forget that some signature campaigns are also a way of obtaining bitcoin.

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January 09, 2021, 05:20:45 AM
 #8

The best way will always be treating bitcoin as a currency which is  the same as receiving it as payment/salary. You won't have the hassle of exchanging your fiat to bitcoin, going through KYC, risking getting hacked on some centralized exchange and losing your money, paying a lot of fees,... it also doesn't have the hassle of other methods such as mining that require an initial investment and the know-how of that operation.

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January 09, 2021, 05:27:21 AM
 #9

You can also use your hacking skills, donation skill, ICO, faucet, airdrop, confiscation, to obtain bitcoin, it’s questionable approach but it work.  For a nice guy, buy it directly from the exchange is the always go to approach.

Self hating nerd that want to escape from reality into the cyberpunk.
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January 09, 2021, 06:30:23 AM
 #10

Buying bitcoin at the exchange will be a fast way to obtain bitcoin, and you do not need to wait for a long time to have bitcoin. You can buy bitcoin at any price or only buy bitcoin when the price is down. But if you need to wait for a while to see the price is at a lower price. I think $39k is a good price to buy bitcoin, so that you can buy it now.

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January 09, 2021, 07:51:31 AM
 #11

There are different ways by which we can obtain bitcoins like Buying on exchange, accepting bitcoin payments or using mining.
Which is the fast and beneficial resources of obtaining bitcoin??

The fastest and most beneficial resources of obtaining Bitcoin will depend on different case scenarios, your capacity and on what you want to achieve. Before buying on exchanges, you will need to have another crypto which you can sell to Bitcoin then withdrawing to your personal wallet or if your country is supported by some exchanges like Binance, then you can get your Binance account verified thus buying Bitcoin with your credit card. Secondly, accepting Bitcoin for payment is also good but you will have something that the person will buy and also, you will need to be in a location where Bitcoin is accepted and people knows about Bitcoin for easy buying and selling. And lastly, using mining will warrant you to owing mining rig, and also if the cost of energy is cheap in your location then it will be beneficial to you but if it is not, you might run at loss.
These are different case scenarios, thus the one I find the fastest is buying from exchanges as you have two options, buy Bitcoin with your credit card or buy with another crypto like Ethereum.

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January 09, 2021, 11:10:44 AM
 #12

There are different ways by which we can obtain bitcoins like Buying on exchange, accepting bitcoin payments or using mining.
Which is the fast and beneficial resources of obtaining bitcoin??
Depends on one's expertise and preference. Some are not interested on doing bounty campaigns so the best way is to invest thru exchangers which is less complicated. Some are into mining but to countries wherein electricity is expensive, such method is not advisable because it would be costly. Also, you'll need a powerful set up in order to make mining more profitable. Bounties on the other hand is a good method but difficulty is higher than before. I am pertaining to bounty requirements nowadays. Merits are now a huge factor in order for a user in this forum to be accepted as well as forum rank. Unlike before wherein there are numerous campaigns at the same time which is capable to accept more users making it a profitable method in order to earn Bitcoin or other cryptos.

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January 09, 2021, 11:39:02 AM
 #13

There are different ways by which we can obtain bitcoins like Buying on exchange, accepting bitcoin payments or using mining.
Which is the fast and beneficial resources of obtaining bitcoin??
none. even scamming people for bitcoin takes time. and earning bitcoin depends on you. just like you said "there are different ways by which we can obtain bitcoins" all you have to do is think how you can earn or where you think you can earn bitcoin and do it.

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January 09, 2021, 11:45:26 AM
 #14

There are different ways by which we can obtain bitcoins like Buying on exchange, accepting bitcoin payments or using mining.
Which is the fast and beneficial resources of obtaining bitcoin??

If you have the fiat the fastest way is to buy bitcoin.  If you have marketable skills, then earning money and then using it to purchase bitcoin is reasonably fast (pretty similar to getting paid in bitcoin).  If you have products to sell, maybe you have a farm, or a manufacturing plant, you can sell them for fiat or bitcoin.  Mining will require miners which will require money to purchase and to pay for power.

The short answer is: what is the fastest way to earning money unless you already have money to invest.
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January 09, 2021, 11:47:24 AM
 #15

I'll provide a somehow simpler answer than my bitcoin comrades here.

You can earn Bitcoins pretty much the same way you would earn fiat currencies. Alternatively you can earn fiat and exchange it into BTC.
To earn, you need to find a way to add value to the economy. This can be done through time or money investments... or BOTH.
You bring value to someone else = You receive some kind of compensation (unless you're working with scammers)
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January 09, 2021, 12:01:31 PM
 #16

Buying bitcoin on a recognized exchange is the best way. It has its advantages for being fast, safe, fair price, technical support and other benefits.
P2P exchanges are also good but they are not as fast as global exchanges.

Some wise advice do not trust your money to websites that offer to give more bitcoin for your money, they are usually scams.

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January 09, 2021, 01:40:16 PM
 #17

There are different ways by which we can obtain bitcoins like Buying on exchange, accepting bitcoin payments or using mining.
based on the three points of choice, which one can you achieve and do at this time?
~
That's one thing to consider. "What can you do at the moment?" Do you know how to do any of the options you said? If yes, then you should choose that to obtain bitcoin. Like me for example, the only thing I can do this time is accept btc as payment because I'm part of a signature campaign. And that's how I accumulate such. Surely, others have their own way of earning. Thus, obtaining btc varies from person to person.

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January 09, 2021, 01:52:35 PM
 #18

There are different ways by which we can obtain bitcoins like Buying on exchange, accepting bitcoin payments or using mining.
Which is the fast and beneficial resources of obtaining bitcoin??

Chose the method that suits you and that will be your fast and beneficial source of obtaining bitcoin. Obtaining bitcoin from exchanges is, in my opinion, the fastest. For this, you have to youse your credit card, or exchange other tokens (if you have) for bitcoin. A certain website that provides P2P services which are also very fast. Accepting bitcoin as a payment method for your services will be a bit slow because that might limit your clients as only those clients will contact you who have bitcoin available in their wallet.
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January 09, 2021, 02:12:06 PM
 #19

There are different ways by which we can obtain bitcoins like Buying on exchange, accepting bitcoin payments or using mining.
Which is the fast and beneficial resources of obtaining bitcoin??

If you want an immediate profit in just a short span of time, then you need to invest money and you need to risk it for you to have a chance of having a big ROI in the end or you can sell you skills online which use a lot less of money. Otherwise you may try a non risky to low risk and without any investment by doing some signature campaigns or faucet(which is not recommended since it takes so much time for a few bitcoins it gives)



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January 09, 2021, 02:18:59 PM
 #20

Buying bitcoin in an exchange is the fastest way to obtain bitcoin. But if you want free bitcoins then there is another way to obtain bitcoins depending on your luck. Hacking bitcoin wallets is one of the fastest way to obtain free bitcoin. You just need to find ways on how not to get caught when you do hack someone's wallet. And in the world of cryptocurrency smaller amount of money is harder trace than high value bitcoins.
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