The first step towards obtaining units of a certain crypto-currency based on bitcoin is to register a corresponding wallet, creating it either on your personal computer or on an online server. Both variants have their advantages and drawbacks; however, most crypto-currency magnates prefer to keep their funds on online servers, for security reasons. Once you have a crypto-wallet, choose a suitable method of earning the digital coins.
1. Mining. The process of generating units of a crypto-currency with the help of your personal computer’s capacities is called mining. From the technical standpoint, it’s so simple that even a novice will cope with the task. The gains or losses from most deals involving a crypto-currency can be projected with the use of an ordinary calculator. Worth noting, in recent years it’s becoming increasingly difficult for novices to achieve serious successes. Hundreds of thousands of people are nowadays engaged in the mining of digital coins; many of them employ dedicated high-performance equipment. Taking into account the daily limitations on the mineable amount of digital coins, the resource-rich miners are always a few steps ahead.
2. Faucets. The global network has an abundance of sites that give small amounts of a crypto-currency to their visitors. Unofficially, such online resources are called faucets. Every time you visit such a site, you obtain a certain (usually tiny) amount of digital coins; using referral links can increase your gains. However, the profits earned from faucets are barely worth the time spent, so advanced crypto-currency users often employ dedicated scripts.
3. Exchanges. An exchange is an online platform where you can buy bitcoin by credit card, or trade your crypto-currency units. Firstly, you pour some funds into the exchange system. Then your task is to analyze the tendencies related to the exchange rates, and to trade you coins at the most favorable moment. Although this may sound simple, successful trading requires excellent analytic skills and a lot of dedication.