What You Should Do For to Getting Bitcoins If You Are in Britain

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bitcoin in uk

If you live in the UK, you might be interested in getting Bitcoins there. You may also be interested in Bitcoins in general. Some say it is not a very wise decision to buy the cryptocurrency and it is not a very reliable option for your investment due to its volatility. Though Bitcoin is very volatile and nobody can predict how much it will cost over the next few weeks, we do not agree it is a bad investment. A risky one, yes, but not the worst. So, what we can do to get Bitcoins if we’re in the UK. Let’s answer that question.

Mining Does Not Help

Like in other countries, there are two main ways to get Bitcoins in your online wallet. The first is mining and the second is purchasing. Of course, we’re going to discuss them both. Bitcoin mining is a difficult and complicated process, solving  particular mathematical problems and algorithms in order to prove transactions with Bitcoins which are made by the network. People transfer their coins every second so there is a need to calculate and maintain all the transactions. That’s exactly why mining is needed. The problem, as we have already mentioned lots of times on our website, is the difficulty with hashrate growth. In other words, people try to mine Bitcoins more and more  and therefore have to spend more money to acquire fast equipment and earn at least one Bitcoin. It becomes too difficult even for small mining companies. So,  if you’re not a representative of a big corporation which is going to purchase the latest ASICs and relocate your mining centers to Asia where staff and electricity are much cheaper, you should not be interested in this process.

First of All Create a Wallet

First, you need to have a wallet. If you haven’t created an online Bitcoin wallet yet you need to make at least one. There are lots of them available through the Internet so you’ll have no problems. For example, you can visit the original website of the Bitcoin network and choose one of the wallets which are offered there. They are not the best but are very reliable and work pretty well. If you’ve got an iPhone or Android smartphone, you can visit the Apple Store or Google Play Market to find wallets. There is a good range of apps for Bitcoin transactions.

Related: The Evolution of USB Bitcoin Miner

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Meet a Person

If you really want to have Bitcoins, the right option is to purchase them. Today, you can buy the cryptocurrency without any middlemen at all. No middlemen are essential points for the Bitcoin nature and philosophy. So to buy some coins you can meet with a person who’d like to sell them to you. There are two websites or platforms which we recommend to you for this purpose. The first is LocalBitcoins. Here you choose your location and find the nearest person with the best offer. Then you meet with the seller somewhere and pay for Bitcoins. It is a very simple and clear way to acquire Bitcoins. The second platform is Bitbargain. This is a very useful website where you can find a seller and buy Bitcoins at a competitive price. Moreover, you can transfer your money,  sitting on your chair at home, directly to the seller. So it looks like internet shopping when you find a person and then pay for an item. The whole process is simple and usually, does not take more than 10 minutes in total.

Purchase on Exchange

Another good choice for Brits who wants Bitcoins is an exchange. Today, there are a good number of online platforms which offer a great Bitcoin exchange service so everyone throughout the world can buy and sell the cryptocurrency. The problem with British banks is they do not yet allow withdrawals from Bitcoin exchanges. Therefore, to withdraw your money, exchanges have to use SEPA which increases the process time and costs more So, if you don’t need to use Bitcoins every day and you’re interested in investing in the cryptocurrency, exchanges are a good option for you. You can choose Coinbase, Bitstamp or Bitfinex. Or you can use a local one like QuickBitcoin to purchase the cryptocurrency within the UK. Using this platform you may find Bitcoins in your wallet an hour after payment. All this makes using Bitcoin extremely comfortable and convenient.

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