The conversation around Bitcoin has been brewing for years but it exploded in 2017 when the stock reached $19,000. It dipped back down for a few more years until it surged in 2020 and reached new peaks in 2021.
In the past, Bitcoin and other digital currencies were seen as extremely volatile, reserved for investors with extensive knowledge of the market and the world of crypto. Today, that idea has been relaxed a bit, as more governments and institutions recognize it.
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Today, the number of retail investors who want to get their hands on this valuable cryptocurrency is growing. In fact, a 2021 survey by the University of Chicago revealed that 14% of Americans invested in cryptocurrency in the past 12 months.
let’s learn all about where you can get it and when it’s the right time to invest.
How Do You Get Bitcoins?
There are four main ways to get Bitcoins: 1) Purchase on a cryptocurrency exchange like Coinbase or payment service like , 2) Sign up for an investment brokerage like Robinhood, 3) Find a cryptocurrency ATM or store, and 4) Use a crypto faucet to receive Bitcoins in exchange for completing tasks.
Once you have your cryptocurrency, you need to store it in a Bitcoin wallet. Every wallet comes with private keys and addresses used to access the wallet, which can be internet-based or hardware-based.
A hot wallet is one that is connected to the internet, which makes it easy for investors to access their Bitcoin. However, it does pose a security risk, as you are susceptible to hacking and theft.
A cold wallet is one that isn’t connected to the internet, making it the safest way to store your currency. In this case, you print your private keys and addresses and store them somewhere, like a safe or safety deposit box. You can also store that information on a USB or hard drive.
Without your private keys and addresses, it’s impossible to access your Bitcoin. So, it’s imperative that you are careful about where you store this information.
Where to Get Bitcoins
How to Get Bitcoins Fast
These days, you can quickly and easily buy Bitcoins online or offline. It’s just a matter of choosing the right purchasing option for you.
Cryptocurrency exchanges are marketplaces where sellers trade cryptocurrencies in exchange for fiat money ( government-issued currency like the euro) or other digital currencies.
Most exchanges accept bank transfers or credit card payments, and some even accept payments. They’ll also charge you a transaction fee for every trade you make.
You can choose from hundreds of crypto exchanges, but the most popular and reputable exchanges include Coinbase, Gemini, Binance.US, and Kraken.
Investment Brokerage Firms
An investment brokerage firm is a platform that allows investors to buy and sell stocks and cryptocurrencies.
Companies like Robinhood allow retail investors to trade and invest commission-free, making them highly popular. All you need to get started is an account and the money to buy and you’re good to go.