Skip to content

How do I get into bitcoins and cryptocurrencies?

If you want to get into bitcoin and cryptocurrencies they are a couple of ways of getting into cryptocurrencies, I wish to show you both the freeway which takes time but no money, the cloud mining way to start earning cryptocurrencies and just regular buying of cryptocurrencies.

Selected for you
Can blockchain change The way we look at healthcare?

COLD-STORRAGEFirst step

Whatever ways you want to get into cryptocurrencies the first step is the same for always you need to set up a wallet there are a couple of different wallets out there and if it’s small amount like if you’re using faucets or just buying a small portion of cryptocurrencies, I would recommend using a hot wallet simply because it’s the cheapest way. But it can be a little bit complex to choose the right wallet therefor you can click here and it will take you to a guide in the different types of wallets and what they are capable of in short  it will help you find the right wallet for you so make sure you read it by clicking here you can also read our guide on how to put your bitcoins into cold sorry by cleaning the banner

Free Bitcoins

Let me be perfectly clear there is no such thing as free money, but there are certain ways to achieve the feeling of free money if you invest your time some first can be claimed once every hour some even down to once every 5 minutes, And if you are completely new to cryptocurrencies it’s a great way to learn about them without spending any money, I normally have one or two facets I claim once every hour when I’m working at my computer they just lie in the browser and I will claim it once they are ready, I have simple that little list of the ones I use, all of them are compatible with the Jaxx wallet

Free Bitcoin is a site which is not commercially driven it gives you the possibility of claiming once every hour, and is capable of reading your gamble with your earnings I cannot recommend you do that, they have lottery of which I have won some bitcoins within the last year I have won the lottery 2 times First time was a 6th place with a value of almost half a Bitcoin and the second time I won the lottery where a 8th place With a value of 0.02 bitcoin and this is why I recommended you have the Edit possibility of winning the lottery and the more times you claim the first the bigger your chance of winning the lottery, so if you’re looking for free bitcoins sign up with free bitcoin at

Moon Bitcoin is there a faucet I also use This one is commercially driven and therefore has a lot of Commercials on it it can be quiet and annoying sometimes But it is the way they gain funds to pay you, if you go and maximum of 24 hours between each claim you will turn up 1% bonus when your claims every day for 100 days until you hit 100%, the way I use it is I claim once I when I start my work day and once before I go home and this will keep me at 100% on the days I don’t work I usually claim it once in the morning and once before I go to bed and it is still a good way to get started in learning about cryptocurrencies, They run more photos which is listed below with other currencies than just Bitcoin.

468x60

468x601

These facets are all great facets at getting started into cryptocurrencies if you are insecure about investing or just don’t have the money to invest if you like to invest in something a little more long-term I would recommend trading all mining which will be moving on to.

Mining cryptocurrencies

You can I some mind at home with your own computer, This world put a great demand on your computer and therefore there are specialised hardware which we will be covering in another article in this article we will be focusing on cat minding where you do not need to have a big knowledge about hardware setup, mining setup and programming setup, when using cloud mining you just need to make sure you get erect correctly before I start investing so you can know what you are investing into and I will be focusing on two of the major players with Cloud mining two companies I have been Satisfied with using if you read probably what you’re getting into do not get disappointed unless it’s a scam and I know what I got into when I invested into this mining companies and they have four filled it.

Firstly are Genesis mining a company that is based in Iceland , And therefore can’t deliver cheap contracts due to the cheap energy price and Iceland thanks to geothermal energy, Before investing you should know that some contracts have an upkeep which is drawn directly from the mind amount, As I write this they only have the ethereum contracts available These are without maintenance fees and have a two year running time, With the price of 3.599 US dollar per 100 MH/s And as I write this It will give you a return looking like the following

Time Frame ETH Coins BTC (ETH/BTC at 0.09304981) USD (BTC at $11,790.90) Power Cost (in USD) Pool Fees (in USD) Profit (in USD)
Hourly 0.00043145 0.00004015 $0.47 $0.00 $0.00 $0.47
Daily 0.01035486 0.00096352 $11.36 $0.00 $0.00 $11.36
Weekly 0.07248401 0.00674462 $79.53 $0.00 $0.00 $79.53
Monthly 0.31064574 0.02890553 $340.82 $0.00 $0.00 $340.82
Annually 3.77952312 0.35168391 $4,146.67 $0.00 $0.00 $4,146.67

The calculation will look like (4146,67 x 2) – 3599 = 8293,34 – 3599 = 4694,36 in profit, If the market don’t change. This is calculated on coinwarx So feel free to double check and remember this return is changed if prices go up down difficult to go up or down, So two minutes after I have written this it might have changed slightly two years after it might look completely different, and as it goes for Genesis mining it is a company which I have used for a long while and I have never had any complaints with it they might be a little slow responding to support a request but that’s just because they get so many request and many of them as I understand it it’s people not knowing what to expect so remember to read up on what the contract offer before requesting support.

The second company I use is hashflare, Was the company that I’ve seen Chaplin time especially after they change the Bitcoin mining contract from lifetime to 1 year, calculating on them you can still make a profit, but for comparison reasons I will be calculating on the etherium contracts so you have something to compare, and I recommend that you always before investing into any opportunity get to know what it is that you are in getting into therefore we will just go over some of the basics when you sing head flare first of all they are contracts at one year all of them you need to request a payout which is done directly from the dashboard, and if you invest in Bitcoin or litecoin you have the opportunity of setting it to automatically reinvest and thereby achieving a higher hashing power something I cannot use since I do not mine bitcoin or litecoin, and let’s look at the ethereum contract Which is at 2.200 US dollar per 100 MH/s This will give you a higher return on year one but no return on year 2, Since it’s the same earning charte as Genesis mining. But the calculation for his flower will look like 4146,67 – 2200 = 1946,67 in profit, If the market don’t change. Even though the profits a little less it is my recommendation that you use both side if you want to making big investments simply to spread out the risk and thereby minimising the risk of losing money

HashFlare

Buying bitcoins

There are several places to buy Bitcoin but it is easy to get cheated out there but someone just taking your money and walking away with your money they were giving you any bitcoins therefore I have a couple of recommendations of where to buy bitcoins these are recognised legit exchange They have used all of them without any problems they’re not much to say about buying bitcoins it is like bag any other product online each site will guide you through the procurement process what you need to be aware of is the price of which you buy Bitcoin therefore keep an eye on the price so you’re by as low as possible.

The most simple site I have used is coinbase you get your currencies just as soon as your credit card or wire transfer clears and it’s supports more than just Bitcoin which actually means you can buy and sell Bitcoin cash, litecoin and ethereum without having to buy into bitcoin first and then buy/sell the other coins. It has the added benefit of being a wallet on the same time I do not recommend storing money on there, For the same reason I never recommend storing currency in any form of exchange, it is Quicken with fewer currencies do what you had to do and then out in a wallet you control

Selected for you
The ICO craze

site-logo-500.b39d9369a078Then there are local Bitcoin where you actually trade locally, either with cash payment or by bank transfer, They have also included the possibility of paying with PayPal always mobilepay, so you can search and your way of payment the big difference between local bitcoin and other exchanges is that localbitcoins are people trading with people and therefore it is decentralised in that way that you treat directly with the merchant through local Bitcoin, I am a strong supporter of local bitcoin due to the fact that they make it possible for me to stay global and local at the same time.

I hope this gave you an insight into starting your involvement in cryptocurrencies and feel free to leave a comment below we aim to answer all questions that the might arise, Sometimes we will even take questions and make them into articles for a good answer not everything can be aired sat in two or three sentences sometimes we just need more room for the answer and that will turn into an article.

The Golden boy View All

I have a background in cryptocurrencies I have been into the cryptocurrency game since 2011

8 thoughts on “How do I get into bitcoins and cryptocurrencies? Leave a comment

Leave a Reply

%d bloggers like this: