There are 4 main ways to get Crypto: buy from exchange, buy from a friend, mine or get as a reward. Buying Coins and crypto currencies is easy, but better know some principles. Let’s find out how it works.
Buy from a Global Exchange
There are two big Crypto exchanges at the moment. One is based in USA – Coinbase and the other is registered in the Cayman Islands – Binance.
Coinbase fits you best if you are from USA, as Binance doesn’t render service in USA.
The registration process is quite similar. You need to have your ID at hand and make several selfies. After that you’ll get access to your account. Sometimes immediately, sometimes it takes up to 24 hours.
As soon as you are in, you can exchange your fiat to crypto. You can send money from your credit card, PayPal account and use other means of payment. In exchange you get Bitcoin, Etherium or other Crypto on you exchange account. At an exchange you can pay, exchange, trade, stack or store in Crypto.
Smaller exchanges are much more anonymous than big exchanges. Simplified registration or no registration at all. No KYC – know your client procedures, so no ID needed. Risks are higher. And even if all went well you can buy black crypto and get some problems.
Buy from a friend
The second option is buy from a friend or a private person. Crypto can be exchanged directly just like fiat money. Rules are the same – you need to trust your partner.
For this option you’ll need to have a crypto wallet like …. or an active account on an exchange – see previous section. Crypto wallet can be registered in several easy steps. Crypto wallet is just a small program on your phone or PC.
Mine
Some crypto currencies can be obtained via mining. Mining means that you help process transactions with your PC or a special device called miner. For example you can get some popular Bitcoins or Etherium via mining.
You need a powerful PC and some technical knowledge to start mining. Plus it may take long till you mine a significant amount of crypto.
Anyway, some enthusiast try to guess which crypto coin will grow and mine it, meanwhile the mining algorithm is easy and gives significant reward fast.
Get as reward
You can support a new De-Fi project by running a node and get a reward for that. Node is a part of blockchain network that helps settle transactions.
Usually the network is called Testnet. Means that a lot of tests are being performed there. to be successful with your node on a Testnet you need to update your node as soon as a new soft is being rolled out by network developers plus have a high Uptime.
It may sound a little complicated, but you don’t need such a powerful PC as in mining. But still, you tech skills must be sharp.
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