I’ve always felt it; money is just digits on a computer these days. The Digital currency has taken over the world, and there can’t be a better example to it than Bitcoins. So well, need I explain why I’m writing this piece on how to buy bitcoins? Or you can read it something as how to get bitcoins as well.
Okay just imagine, how many of you actually hold all the money in “cash” that you own? I’m pretty sure you don’t. You just have that reflected on your computer screen when you log in to your account, right? Well, guess what, do you think your bank has all of your money in “cash”? And of that of it’s each and every customer?
Ofcourse not. Then again, have you ever wondered what happens when you “transfer” money to your friends or family?
Rarely do people send “cash” now, right? You just log in to your account, select some amount and send it to them, well the catch here is, they don’t receive cash, they just receive the numbers in their account and get happy that they got the money. Services like PayPal are working great in this niche. Here is how to receive money through PayPal and if you don’t have Paypal account yet, here is a proper guide explaining how to setup PayPal account.
So well what is money? Just digits on a computer screen, hence proved huh?
So well let’s talk about Bitcoin and how to buy Bitcoin, but before that let’s take a deeper look into What are Bitcoins, right?
What are BitCoins?
Let me be honest, understanding “totally and exactly” what bitcoins are, would need you a degree in a lot of subjects. Well yeah because it’s complicated, a lot.
But then again, you don’t need to understand every background information of something to use that thing, right?
Just like I’m pretty sure you don’t know how the Currency notes are generated, or valued, or exchanged in the global market, but does that make a difference? No, you get your salary, you spend it, you get happy simple as that, right?
So well in the simplest possible words, I can explain Bitcoin to you as : – It’s a digital currency. Probably the first cryptocurrency and the most successful one too, but well, it’s still a digital currency simple as that.
You can get bitcoin payments, send bitcoin payments, buy something off the internet using Bitcoins and what not. Oh, you can even exchange it for real money, like real Paypal money or a cash transaction to your bank account.
How is BitCoin Generated?
Well, Bitcoin is a globally accepted currency, even if it’s just digital. So no you can’t just get on your computer and start generating as much bitcoin as you want, just as you can’t generate your currency notes.
But well the best and straightforward method by which Bitcoins are generated is by “Mining”. Well no it’s not the mining in the general sense. Instead, take it as a “system where you show off and use your computing power to record transactions and other important data on to a public ledger” and well you get paid for that. Simple as that.
If you’re up for a more “detailed” guide into this bitcoin thing, the below picture should totally help you out:-
How to Buy BitCoins?
Okay so this is the soul of this article, I mean the real reason I’m on this piece right now. To show you how to and where to buy bitcoins.
Well, I’ll be discussing two major methods of buying bitcoins:-
a. Buying Bitcoins using Paypal.
b. Buy Bitcoins instantly with Credit Card.
How to Buy Bitcoins Using Paypal:-
Well, keep in mind, buying bitcoins using Paypal is not the best way to go about it, but it surely is one of the easiest, and that’s why I’m sharing this here in this article. You can also buy Bitcoins using Paypal prepaid card. If you don’t have PayPal Prepaid card yet, you can get it anyway. Here is how to get PayPal Prepaid Card?
Now if you ask me why I said it’s not the best way to go about it, well the reason is:-
- You won’t easily find sellers selling bitcoins on Paypal. Because you can always perform a Chargeback, and they’ll loose their bitcoins and the money you sent them.
- Paypal hates bitcoins anyway, because well Bitcoin is one of the most successful competitors of it, so openly dealing in Bitcoins using PayPal results in accounts getting banned.
But if you are keen on buying bitcoins using Paypal and Paypal only, then read along.
Well, it’s not an official process, but it’s one of the most used and “risk-free” methods of buying Bitcoins using Paypal so here’s how to do that.
- SignUp on https://www.virwox.com. (Virtual World Exchange)
- Then, you buy Second Life Lindens (SLL) on VirWox.
- And finally, you can buy bitcoins in exchange of the SLL you just bought.
So yeah that’s how it works, VirWox > SLL > Bitcoins.
How is this risk free? Well because you aren’t directly buying bitcoins using Paypal. Instead, you’re buying SLL using PayPal, which is totally accepted, and then you’re buying Bitcoins using SLL and not Paypal, so Paypal has no say in it.
How to Buy Bitcoins Using Credit Cards?
Well, there are quite a number of platforms which let you do so, so let’s list some of them right?
CuBits:- Well, Cubits lets you buy bitcoins using Credit Cards simple as that. And well it supports over 17 different currencies! So that’s one less thing for you to worry about.
You Signup at Cubits> Verify your identity using the OTP they send on your cell phone > Buy Bitcoins instantly using your bank account or Credit Card!
VirWox (Well yeah that same VirWox again!) : – Over at VirWox, just like you bought using Paypal, you can also buy bitcoins using your Credit Card!
Just select “credit card” from the drop down menu at the homepage and proceed. Everything else is the same, you buy SLL, you sell them for Bitcoins.
How to Buy Bitcoins Using Cash /Debit Cards:-
CoinMama: – Well CoinMama also let’s you buy bitcoins using Credit Cards so that I could’ve included it in the earlier section, but in addition to credit cards, you can also buy bitcoins using Cash or Debit Cards at CoinMama so well hence this section.
All you have to do is, Open Account(Free) > Choose Payment Method > Make Payment > Confirm your BTC Adress.
Yeah done, you can pay using Debit Cards or Cash (Or even credit cards ofcourse) and you’ll receive the Bitcoins on your address without a glitch for sure.
I won’t complicate thing; they let you buy BitCoins via Wire Transfer. So yeah just signup, send money and buy bitcoins simple as that.
So well yeah that was about how to buy bitcoins. I think I listed all the major payment methods that we humans generally use, right? (Considering you aren’t from Mars) This article should’ve helped you, right?
Well you might still have some doubts, and that’s the reason we have the comment box Make use of it, I love hearing (and responding) to you guys.