Bitcoin, an Internet currency, is created using PC hardware resources (processors and graphics cards). The process of creating bitcoin tokens is called mining. Whereas in 2009 it was possible to mine the tokens with an ordinary PC, today it requires high-powered equipment – a farm. A farm includes a lot of video cards, ASIC processors. The price of such equipment runs into thousands of dollars. Besides, such equipment needs special care, it is very expensive and requires certain technical skills. There are states where it is legally forbidden token mining. It is good that users have other ways to get coins.
- Exchange services. There are platforms on the Internet, where you can buy BTC with debit card. This platform allows you to safely perform transactions related to the exchange of different cryptocurrencies.
- Cryptocurrency exchanges. These are sites where you can sell and buy crypto. The largest exchanges are Binance, Kraken and so on. Keep in mind that bitcoin exchange rates may vary from site to site.
- Bitcoin Cranes. These are sites that give away cryptocurrency to users for free. To get some satoshi, you just need to enter a captcha or perform another simple action.
- Trading platforms. These sites allow you to sell your goods for bitcoins. The most popular sites are Amazon, Ebay, and Purse.io.
- Self-service terminals. You can use payment terminals to get tokens. There are also special Bitcoin ATMs that offer the currency at the best exchange rate.
Options for use
Although bank cards are still considered the most common way to make payments in all countries, many retailers are smoothly switching to cryptocurrency. For example, Bill Gates has repeatedly stated that Bitcoin is better than any fiat money. Paying with bitcoins in the States can be done, for example, at Overstock.com, a retailer whose revenue in the third quarter of 2019 was $347,000,000.
In European countries, major hypermarket chains cannot accept tokens as a means of payment. However, there are startups introducing prepaid debit cards. They allow customers to use available cryptocurrency at any place that accepts payment cards. You can get a Cryptopay card and use it to pay for goods and services. Such cards have become very popular lately because they allow crypto investors to use their cryptocurrencies in their daily lives.
Every month there is news that a country around the world has started a catering establishment that accepts bitcoins. There are states where BTC can be paid for a cab ride. There is a special service called Coinmap, which can be used to find out about stores that accept cryptocurrency. So the industry is actively growing and developing. Bitcoins can be used to buy groceries, cars, real estate, to book flights, to book hotel rooms. Anyone can start using virtual money. Thus, to use BTC you need to create a wallet and buy some bitcoins. The main task of the user is to take care of the safe storage of their own savings. It is safest to store tokens on hardware wallets.