Welcome to the bitcoin world. Let’s skip the basics and get right to how to get bitcoins:

1) Mine bitcoin
2) Buy bitcoin

These are the easiest ways to get bitcoin. Of course, buying bitcoin is the simplest. You open an account on a bitcoin exchange, exchange money from your currency (such as US dollars) for bitcoin, and now you have bitcoin.

Mining bitcoin is more fun, requires more work, and actually can be profitable (meaning you make money). There are people that actually make thousands mining bitcoin, and companies able to make millions of dollars mining bitcoins.

How do I mine Bitcoin

To get started mining bitcoin, you will have to buy bitcoin mining hardware such as the very popular ASIC chip-based Bitmain Antminer S9 (read more Compare pricing Antminer S9). When bitcoin first started, people were able to mine with their home computer, usually heavily upgraded, with the CPU and GPU power built in. Heavy-duty graphic cards could give a leading edge. However, with the invention of the ASIC chips using 16nm technology, that older computer rig system quickly became antiquated.

The Antminer S9 is incredibly small and efficient. This is what it looks like:

You will need a bitcoin wallet. More on that after a quick mention on buying bitcoin.

How do I buy bitcoin

The absolute fastest way to get bitcoin is to buy bitcoin. You can do so through reputable sources such as Coinbase.com (this link opens a new window to coinbase.com so you can check them out).

In short, you set up an account, and you can buy bitcoin. To withdraw with ease, you will need to verify banking information so they know where to send your bitcoin. Just for added security, it might make sense to open a secondary account at your bank (presumably without fees and a tiny balance requirement). That way you can give coinbase that account number so your main checking account number is separated.

Now, back to getting a bitcoin wallet set up:

How do I set up a bitcoin wallet

The safest place on the internet to open a bitcoin wallet so you can get bitcoins and have them in a secure place seems to be blockchain.info (check them out here: blockchain .info wallet).

Do not skip steps. Do not make an easy to guess password. Seriously. Set up a bitcoin wallet that is secure.

You should read about How my bitcoin wallet works for really great information on not just setting up your wallet, but how it is encrypted, and, most importantly, how to not lose your wallet information.

Yes. That’s right. You can lose your wallet information if you don’t have it written down in a secure location. Blockchain.info offers backup methods to recover your information, but if you don’t have that, your bitcoin wallet will be gone forever with zero way to recover your bitcoins.

Interested in bitcoin mining? Learn more here: Mining Bitcoin