If you are looking to enter the Bitcoin game and keep your own coins, there are many options available. These are some of the different methods available to acquire some Bitcoin yours.
Buy them from an exchange
One of the most common forms of acquiring Bitcoins is through an exchange. Web sites such as BitStamp, BTC-E or Cabirtex here in Canada, allow you to buy Bitcoin. They do not sell Bitcoin, but how it works is that the exchanges combine it as a buyer with a seller who is selling for any price you are looking for.
This sounds like a great option, and somehow it is, but it also has its disadvantages.
One of the main ones is that exchanges require that you add your personal information to you by knowing your client’s legislation that is present in many countries with respect to companies related to the currency. This might not be a concern for everyone, but in one era of the post-NSA scandal, it is becoming increasingly clear, at least for me, that the data they put, there is more accessible than he believes.
It could be a bit paranoid, but who knows what could happen in the future. After all, only ten years ago, the idea that the government is spying on everything we do was purely the kingdom of the tin tin hat conspiracy theorists, and now it is only common knowledge. Who knows what follows?
As you can say, I’m not a big fan of exchanges. The idea that I have to give up my personal information to an entity that could have to release that information seems to go against the spirit of Bitcoin.
Fortunately, there are other options.
Of course, there is only one place that really comes Bitcoins; mining. Each bitcoin that will have, see or listen, was at a mined point through the Bitcoin mining network.
If you find yourself in possession of a mining platform, go ahead and mine! Or if you have a computer fast enough to be worth it, that’s fine too.
But be careful! If your computer is not cooled correctly, you run the risk of overheating, which could potentially brick.
Frankly, mining with your computer is not worth it. Not anymore. As mining difficulty increases, it becomes increasingly difficult to obtain any benefit. And unless you have a dedicated mining platform, your probability of obtaining any kind of mining return is quite low.
Some argue that mining is at its departure, and even buying a dedicated mining platform is no longer a valid option. I do not agree, but that is a subject for another day.
Buy them from a private corridor
If you are able to find a private runner, you can connect them with them and exchange. This has some obvious benefits, but it also has inconveniences.
First, it is completely anonymous. Even if you meet in person, there is no reason why you need to use your real name, or any details about you other than your wallet number so you can transfer it to the funds. And if you pay cash, banks can not trace it either. So, if that is a concern for you, you are in the business.