If you’ve signed up for a bitcoin wallet, the next best step is to load it. Although a lot of people now own bitcoin wallets, there are still those who are at loss on how to load their bitcoin wallets while there are also people who only know of just one or two ways.
1. Start Mining
One of the surest ways to load your bitcoin wallet is to start mining. The pioneer users of bitcoin primarily used this method and many across the world still do too.
However, this can be a costly approach since you’ll require dedicated hardware and software to do the mining for you. It’ll need to run 24/7 and income is not always ensured since there are a good deal of miners competing for a certain number of bitcoins available daily.
2. Buy From Others
With many people adopting bitcoin, it’s now easier than ever to buy bitcoin from others unlike in the initial days where only a handful of people had access to it.
There are sites like LocalBitcoins.com and BitSquare.com that has allowed the exchange of bitcoin on matching demands and offers. Users who match can meet up and transact for the successful buying and selling of bitcoin.
3. Buy From an Exchange
The most common way to buy bitcoin is to buy from an exchange. Some of the most popular ones are Binance, Bithumb, and Upbit, among others.
There are a lot of pros when you buy from an exchange because they’re pretty convenient. Online exchanges sell at any time and will only require you to transfer money from your bank account.
However, there are a number of cases where buying bitcoin has been delayed and may require additional costs if you’re transferring from overseas.
4. Ask for Bitcoin Payments
With the prevalence of bitcoin today, a lot of companies now facilitate payments of bitcoin. Whether you’re an employee or business owner, you can ask your company or your customers to just pay you in bitcoin. All you need is to provide your wallet address in order to receive bitcoin payment.
But if you need anything large scale, you might want to just consider opening a merchant account on a bitcoin exchange online.
5. Load at a Local Bitcoin ATM
Probably the most convenient way to buy bitcoin is to locate a local bitcoin ATM near you and buy from there. It’s much cheaper to buy at a bitcoin ATM compared to online exchanges because it doesn’t include bank and remittance fees.
Over the past few years, bitcoin ATMs have sprouted in all the major cities with a few located on not so big cities as well.