What Is the Cheapest Way to Get Bitcoin – 2024 Guide

Source: economictimes.indiatimes.com

Besides begin the oldest out of all the cryptocurrencies out there, Bitcoin is the most valuable one by far. Only taking a look at its market cap will show you just how important it is for the whole market. According to the latest research, we can see that its market cap is now higher than $700 billion which is exceptional.

Owning BTC offers you a plethora of ways to use it. For instance, it can be a method of payment. You can use it as a way of building your retirement fund. Whatever is your goal, you can be sure that Bitcoin can address your needs.

As you can presume, there are numerous ways you can purchase Bitcoin. Naturally, the decision on which one of these you will use should be determined solely by your needs and preferences. For that reason, it is important to know all about them. Not to mention that you should know what is the cheapest way to do it.

Today, we want to shine a light on a couple of these approaches and determine the cheapest one.

Crypto Exchanges

Source: analyticsinsight.net

The first, and most obvious place for many, is to take a look at crypto exchanges. We are talking about the marketplaces where traders from all over the world are selling and buying digital currencies. Naturally, the commonest way of trading is purchasing or selling these for fiat currencies.

Therefore, you can see that people are connecting their debit cards to the platform. If you want to take a look at the process of doing this, be sure to visit azcryptoexchanges.com. It needs to be said that the number of these exchanges is quite high, so you need to invest a lot of time before you can find the one that suits you.

You will find that most of them will accept credit card payments and bank transfers without any problem. When we are talking about a general solution, we would say that all of them are accepting PayPal transactions as well. Sure, you will need to pay a certain fee for each transaction you have made.


Source: investordaily.com

Even though many traders wouldn’t label mining as a way to purchase BTC, we beg to differ. When you take a look at the whole procedure closely, you will see that you are spending quite a lot of energy to mine even a small portion of a coin. Therefore, there’s no other way to define it rather than investment.

For those who don’t know, miners truly represent the backbone of the blockchain system. They use certain hardware, more precisely graphic cards, to make this process work as well as they need it to work. GPUs work with a wide array of calculations to make the exchange of value in the blockchain system.

As a reward, miners get a certain portion of Bitcoin. Therefore, we can see that this is a way to get Bitcoin. We wouldn’t describe it as an easy one. Nevertheless, there are numerous stories about people who were able to earn a significant chunk of money over time, just by performing the mining procedure.

“In-Person” Deals

If you are the type of person who prefers to do this kind of deal in person, then you shouldn’t look further than visiting BTC ATMs, merchants, and stores. Each of these examples comes with its string of features and rules you need to be aware of. For instance, ATMs work relatively the same as regular ones. Plus, you can find them in every major city in the world.

Source: hbr.org

Furthermore, we want to discuss stores. Stores are places that solely work with buying and selling BTC. By visiting certain websites, you can see whether these stores are located in your city. Finally, if you want to purchase directly from another person, then you should find someone who owns them, and who is willing to perform peer-to-peer transactions.

Taking Surveys

Little is known about the possibility to get some BTCs by being a part of surveys and research. Numerous companies are more than willing to reward the participators in their studies with some BTCs. Think about it, you can get them just by taking a survey. It means that you don’t need to invest anything.

The number of these companies is not too high, but those who are prepared to offer you BTCs in return for your participation are quite active. They mainly do studies and market research. Some even offer potential participators a chance to select what are the surveys in which they want to participate.

Naturally, not everyone can just volunteer to participate in these surveys. As you probably know, companies are pretty rigid about the people they choose for these. They need to be of certain education or specialization to be a part of it. You may be the one they need, who knows?

Shop and Earn

Source: pcgamer.com

Finally, we want to discuss the latest trend in the cryptocurrency market. We are talking about the “shop and earn” approach. Numerous e-shops offer their customers a chance to get some cryptocurrencies in return after they have done a certain amount of shopping on their website.

You just need to come across e-shops that offer this possibility. At the moment, their numbers are not that high, but we can see that this trend has become quite an attractive one. Therefore, we can expect a lot of them to follow the example in the future. Naturally, this “reward” will land directly in your e-wallet.

The Verdict

Finding the cheapest way to earn Bitcoin is something many people want to do. However, it all depends on your needs and preferences. For instance, participating in surveys and getting BTC, as a result, is not a good move if you want to invest in it.

Therefore, we’ve presented you with a couple of options in front of you, and you should determine which is the cheapest one for you by having an insight into all of them, just like the one we have provided you with here.