The rise of Bitcoin has led to an explosion in the popularity of more cryptocurrencies. While all the different options out there might seem quite confusing to the average person, one thing is certain – lots of people want to get their hands on some Bitcoin. However, before doing it, you need to set up a Bitcoin wallet. But how do you top up your Bitcoin wallet? This blog post will show you how to top up your Bitcoin wallet without any trouble!
Make sure you have a Bitcoin wallet
To create a Bitcoin wallet, sign up for an account with a major cryptocurrency exchange such as NakitCoins. This requires providing your email address and the country you live in so that the company can verify your details. After clicking on a verification link in the email sent to you by the service, choose a secure password that cannot be easily guessed.
Log into your account with your username and password. You will then be asked to set up a two-factor authentication (2FA) method on their site. Please choose one of their available 2FA methods, such as Google Authenticator or Email Authentication, but choose something easy for you to use because not being able to access your Bitcoin wallet will be truly problematic.
Purchase bitcoins from cryptocurrency exchanges
Online exchanges, such as Coinbase, NakitCoins, and Gemini, allow you to trade fiat currency for bitcoins. In order to purchase bitcoins, customers will need access to their online exchange account and have a means of funding the account with.
Depending on your local regulations, there may also be restrictions on how much money can be exchanged in one day or week. So, ensure you understand these regulations before completing the transaction. If this is not an option, another option is purchasing bitcoins from individual investors through an online platform such as LocalBitcoins. The principle here is essentially the same as buying from an online exchange. A buyer will select how many bitcoins they want and state what price they are willing to pay.
Buy bitcoins from individuals or services
You can buy bitcoins from individuals or services: Some people and organizations are willing to exchange bitcoins for fiat currency including dollars and euros. You can use one of these Bitcoin sellers if you want to pay with cash, by wire transfer, or by Western Union transfer. You can also buy with PayPal. Earning bitcoins from certain services is also a possibility. Some Bitcoin exchanges will offer an instant payout at a fixed rate when you deposit your fiat currency at the market rate (plus a fee). Coinbase offers this type of service.
Try winning free bitcoins through faucets
Even if you don’t have much money, it is still possible to top up your bitcoin wallet. One of the most effective ways is through faucets. If you are new to Bitcoin and have some spare time, sign up for a couple of different sites and submit as many entries as possible. You will be rewarded with smaller amounts at first, but eventually, these will add up.
Earn bitcoins through Bitcoin mining
To mine bitcoins, you need a mining rig. There are two options for mining Bitcoin: solo and pooled mining. In pooled mining, many users work together on the same problem to solve it. When you find the answer, you receive a share of the bitcoins that have been mined as a reward.
As you can see, they are many ways to top up your Bitcoin wallet. While some of them are complex, several methods are straightforward. It all depends on the approach you feel more comfortable with. However, buying from crypto exchanges is always the most effortless approach.