3 Ways to Receive Bitcoin

Table of contents:

2024 Author: Samantha Chapman | [email protected]. Last modified: 2023-12-17 09:13

Bitcoins are a type of digital currency used for a peer-to-peer payment system. They are created when users register and verify payments. Once earned, they can be sent and received with special programs. Scroll to step 1 to learn how to earn bitcoins!

Steps

Step 1. Download a bitcoin client

There are many different options and you will need to choose the best one for you. The three main categories of wallets are offline or desktop wallets, mobile wallets, and web wallets. Desktop wallets are installed on your computer and you can use them even when not connected to the internet, mobile wallets are downloaded to your computer, and web wallets are run on third party websites.

Some desktop wallets: Hive Wallet, Bitcoin Core, Multibit, Armory, and Electrum.
Some mobile wallets: Bitcoin Wallet and Mycelium Wallet (a third party service).
Some web wallets (all third parties): Blockchain.info, BitGo, GreenAddress, Coinbase and Coinkite.

Step 2. Wait for the bitcoin chain to download

This download can take several hours, but you must download the entire chain before you can send or receive bitcoins.

Method 1 of 3: Receive Free Bitcoins

Step 1. Find advertising offers

Some companies offer bitcoins in exchange for completing surveys.

Step 2. Visit websites or watch videos to receive bitcoins

BitVisitor offers small amounts of bitcoins for every 5 minute visit to a web page. The payments are quite small, but you won't need an account to redeem them. Just enter your bitcoin address, fill in the CAPTCHA, and click on next after 5 minutes.

Step 3. Visit some sites and see their advertisements

Some sites like FaucetBTC pay a small amount of bitcoins for site visits - all you have to do is enter the address and captcha.

Step 4. Answer the questions on the forums

At Rugatu, you can earn bitcoins by answering the questions people ask about bitcoins. In this system, valid answers will be selected and rewarded with bitcoins.

Step 5. Offer computational power to "miners"

This will significantly increase your CPU usage, but sites like Bitcoin Plus will use your computer in the background in exchange for bitcoins. All you need to do is leave the program running in the background. However, consider that this will increase the computer's electricity consumption.

Step 6. Complete some surveys

Sites like EarnCrpyto will pay you in bitcoins if you complete their surveys.

Method 2 of 3: Buy Bitcoins Online

Step 1. Know the risks

Buying bitcoins is risky, and can be considered an investment. The price of bitcoin is extremely volatile - at the end of November 2013, prices hit an all-time high of $ 1124.76 / BTC, while at the end of April 2014 their value had dropped to $ 491 / BTC. This means that you will trade money for BTC, you will run the risk of losing it, due to the trend of the currency.
When you buy bitcoins, you will need to trust that the website is not stealing from you and that it is actually giving you bitcoins in return. As with all sites you give your bank details to, you should make sure it's trustworthy.

Step 2. Find a reputable trading site

LocalBitcoins is a popular choice that will put you in touch with a local seller.

Step 3. Post an offer

On LocalBitcoins.com, you will need to post your location, preferred payment method and the amount of BTC you want to buy.

Step 4. Buy a small amount first

To verify that the site is trustworthy, first try to buy only a few euros of bitcoins.

Step 5. Choose a trader

All reputable trading sites should offer a score for all traders who trade on the platform. This score is an indication of the trustworthiness of the trader.

Step 6. Pay for the bitcoins

On LocalBitcoins and other reputable trading sites, once payment is made, they will put the required amount of bitcoins in escrow. The payment method will vary according to the trader's preferences. According to the agreements made, you can pay via PayPal, by bank transfer, or in cash in person.

Step 7. Receive the bitcoins

When the trader receives the payment, he will release the bitcoins from the deposit, and these will become available in your wallet.

Step 8. Rate the trader, and ask him to do the same with you

An important aspect of bitcoin trading sites is reliability. When you rate the trader, you will inform other potential buyers that the transaction was successful.

Method 3 of 3: Earning Bitcoins with "Mining"

Step 1. Get to know this method

Bitcoins mining is the operation with which new bitcoins are generated. When you "mine" bitcoins, you will verify the transactions and add them to the chain.

Step 2. Evaluate if it's worth it

To do this, you can calculate the amount of bitcoins you will earn. Find a mining calculator on the internet. You will need to know the hash rate with which you will be mining, the watts consumed by your computer, the cost per kWh of your electricity bill and the time you want to dedicate to mining. Creating bitcoins takes a lot of power and won't be profitable for everyone.

Step 3. Download a miner program

For starters, GUI Miner is a good choice, because it has a simple interface. You can download it here.

Step 4. Join a server pool

Slush Pool is one example, but you can find more on the internet.

Step 5. Create an account

You will need to enter your unique bitcoin address and other information. It is a good idea to use different addresses for different functions, so you may want to generate a new address for this specific site.

Step 6. Set a sending threshold

This threshold is the amount of bitcoins you will earn from mining before they are sent to your account. The computer will not be able to automatically send the bitcoins to your account, but it will have to do it in sections.

Step 7. Add a new worker

You will need to set up your username and password.

Step 8. Copy your worker's username

Step 9. Go back to GUI Miner, and create a New Miner

Step 10. Paste the username on the GUI miner

Step 11. Under Server, choose the pool you are using

Step 12. Select the Device

If your graphics card has a processor, select that. The graphics card is much faster than your computer.

Step 13. Set the CPU affinity to 0

Step 14. Start mining

Your computer will automatically run the program in the background.

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