A typical strategy for people new to Bitcoin is first acquiring a small amount of Bitcoin (sats) while learning more about what Bitcoin is, and later purchasing more once they have learned. This short article explores and compares the main methods to acquire Bitcoin. What are the main methods of acquiring Bitcoin? Which methods are most suitable for you?
The main methods of acquiring Bitcoin are to purchase it, earn it, or mine it.
For most people, simply purchasing Bitcoin is likely to be the easiest and most cost-effective way to acquire it. Typically this will involve a process of:
It's also possible to earn Bitcoin:
One benefit of earning Bitcoin is that, if done correctly, it can be more private than buying Bitcoin.
Mining was much more feasible for individuals in the early days of Bitcoin. Nowadays, it usually requires millions of dollars in capital and investment. It typically requires the ability to source (or manufacture) specialist mining hardware, cheap energy prices, and an operations team to maintain the equipment.
Mining is arguably the most private way to acquire Bitcoin.
There have historically been many mining-based scams that promise fantastic returns or hardware that is "too good to be true". Remain skeptical with anyone who promises very high mining returns.
Source: Saylor Academy
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