Bitcoin is undeniably a revolutionary virtual currency that is also one of the most sought-after cryptocurrencies in the crypto market. Actually, many have compared Bitcoin, due to its value, to digital gold. Hence, there is a multitude of options available today in obtaining Bitcoin. Here we review popular and reliable choices of investing and obtaining BTC.
One of the most popular and reliable ways of getting Bitcoin, especially in the beginning, was Bitcoin mining. The miners need to approve a 1 MB block of transactions, and by doing so, they also need to solve a computational puzzle. Only the first miner achieves this before the others, gets the block reward which is actually Bitcoin tokens.
The creator of Bitcoin, Satoshi Nakamoto, wrote in the Bitcoin code a protocol that cuts in half the reward of the miners when 210,000 bitcoins are mined. So, the first block reward was 50 BTC, and subsequently, each halving reduced the block reward. First, it was 25 BTC in 2012, then it was 12.5, and lastly, in 2020, it was halved to 6.25.
This is one of the main reasons why Bitcoin mining isn’t necessarily popular among solo miners as it can be unprofitable for them to mine, and it might take them years before they are able to reap the rewards. In addition, the competition is also increasing, as well as the costs related to mining, computing power, and electric energy. Fortunately, there are still alternative ways of getting BTC through mining, and there are mining pools and farms which rely on the collective effort of the group.
This is a quick and easy way to get Bitcoin, and it’s one of the factors that drive the popularity of the cryptocurrency. You will be glad to know that there are a vast number of trading sites, which have excellent features and technology. For instance, bitqs.app is an automated trading system that trades for you at high accuracy, conducting technical and fundamental analysis on market conditions and trends. Furthermore, you can read the in-depth trading guide to gain more insights about trading and use the correct settings for your account. If you want to register on the site, you need to make a deposit of at least $250. Plus, the daily ROI of the platform is up to 70% on a daily basis.
The last option is Bitcoin ATMs that are gaining more users in recent years, especially because their number is also growing. At present, there are around 14,000 Bitcoin ATMs. They work as regular ATMs, but are connected to the Internet or all also known as Internet-connected kiosks where you can buy BTC or sell BTC. Most of the available Bitcoin ATMs specialize in one of these functions; however, there are some that offer both for their users. The main disadvantage is that you need to find a Bitcoin ATM in your area, but otherwise, the transactions are completed quite efficiently.
Bitcoin Trust Funds
This is a perfect option for institutional investors, and actually, a lot of institutional investors invest in BTC through crypto and Bitcoin trust funds. Another advantage is that you don’t need to directly buy or handle BTC or research a lot about this topic because this is all taken care of by the trust fund.
This is another perk for institutional investors that probably want to make a large BTC investment. Some prominent names in this field include Grayscale Bitcoin Trust, Osprey Bitcoin Trust, Pantera Capital, to name a few. However, this is a more viable alternative for institutional investors, and if you’re an individual investor, it will be much easier for you to make a deposit and register on the exchange platform. But again, this depends on your financial goals and conditions.