There’s nothing scary about acquiring Bitcoin, although, as with anything, be smart to avoid the scams. One thing that makes it popular is the relative anonymity, although initially you will need some traditional money to acquire it so expect to give out personal information.
Let’s say you want to explore Bitcoin and make a few purchases. There are plenty of sites that sell small amounts of the currency, less than $2,000, and the proper “wallet” for storage. Kraken, CEX.IO, Coinmama, and Bitstamp.net are a few. Coinbase is also a big player in this arena, although they have been plagued by accusations of fraud.
For larger investments, exchanges have the best commission rates. Think of them as stock markets, and again there are numerous options.
Special ATMs also dispense Bitcoins. There are hundreds of them around the U.S. alone, although they charge much higher transaction fees than online sellers.
Other ways to acquire Bitcoin are meeting people in person through sites like Craigslist for a good old fashioned exchange of cash for digital currency, or even getting a job that pays in Bitcoin.
Or, if you’ve got the computer power to do so, you can actually mine for your own Bitcoin, perhaps the most satisfying way to acquire the currency even if it’s not a get-rich-quick scheme by any means. It will, however, heat your home for free.
And there are, of course, ways you can get rich off Bitcoin, they just might not be for everybody.