How Do I Get Bitcoins?

Like any other currency, there are 3 major ways of getting bitcoins: exchanging them with another person, going to a money exchanger, or selling products or services paid for in bitcoins.

Here’s how to go about it. (Make sure you create a Bitcoin wallet first)

ShuBitcoin on how to buy or sell bitcoins locally

Buy (or Sell) bitcoins locally

A good option to get bitcoins is to exchange them directly with people living near you for local currency. LocalBitcoins.com and BitQuick.me are good resources to do local trades. LocalBitcoins also allows for in-person, cash exchanges.

If you’re buying from individuals you don’t know, make sure to meet them in a public place — especially if you’re paying with cash.

You can also use both these resources to sell Bitcoins.

Using exchanges to buy or sell bitcoins

Buy (or Sell) bitcoins using online exchanges

Online exchanges make buying and selling bitcoins in larger volumes easier and faster. Most exchanges follow a standard identity verification process that requires you to provide a copy of your ID and a proof of residence for security reasons. Once you are verified, you can deposit funds into your exchange account by transferring money from your personal bank account. You will then be able to buy and sell bitcoins directly on the exchange.

So far, there are few exchanges located in the Middle East: Igot recently launched in Dubai, and BitOasis will be opening soon. Many more will be launching soon. You can also use popular international exchanges, such as CircleBitstamp, itbit, and Kraken.

For a list of the largest exchanges and accepted currencies you can visit BitcoinCharts.com.

ShuBitcoin shopping cart

Sell your products or services for Bitcoin

Finally, if you’re a business owner or a freelancer, you can sell your products or services for bitcoins. If you’re interested, here’s how to get setup easily. Or, you can read more about why you should consider accepting bitcoins for payment.

Now that you have bitcoins, check out some suggestions on what to do with them today.