There are an alleged 21 million Bitcoins ever made. Only 17 million of them are currently in circulation which means 3 million coins are still “up for grabs”.
The 3 million “unmined” coins are, however, are increasingly hard to obtain – even with the best mining software and hardware.
You don’t however, necessarily to mine Cryptocurrency to own them. Especially because it is quite uneconomical to mine them. You can simply tap into the pool of 17-odd million coins in circulation by purchasing them in their fiat currency equivalents.
But where do you get them then? After all, Cryptocurrency is this dark and mysterious transaction system used only by criminals and drug addicts right?
Purchasing them, therefore, would then occur in a shady online place like the deep web – where they are used to acquire illicit things.
There are publicly accessible marketplaces where you can securely purchase Bitcoins.
In the world of digital currencies, Bitcoin serves as the Dollar-like go between that allows people to purchase other currencies (altcoins)
The actual trading of cryptocurrency “pairs” then takes place on and specialized Crypto exchange like Binance or Bitfinex. A demand for it will naturally result in the increase in the value of other affiliated currencies (Altcoins).
Another major Crypto intermediator that functions like the dollar is called Ethereum.
Read more about Cryptocurrency exchanges here
You can get your Bitcoin to add to an exchange or your choice or to keep safe via online wallet or Crypto cold-storage is called Paxful.
Based in the USA, Paxful is a unique bitcoin marketplace where one can buy bitcoins from trusted sellers (vendors).
It boasts a collection of over 1,200 trusted vendors and purchase time of fewer than 10-15 minutes to receive Bitcoins.
Here are some of the benefits of getting your coins through Paxful:
Almost every payment option
Vendors accept over 300 payment options. This makes it easier for you to remain anonymous. You can buy Bitcoins using gift cards, cash deposits, online wallets or credit cards.
You are charged a Bitcoin’s blockchain network fee when Bitcoins are moved out from a Paxful wallet. You do, however, get to keep “more money in the pocket” by holding almost the full value of your Bitcoins stored with them.
Fast, easy & secure
As are a buyer on Paxful, you are 100% protected. Like a bank, all vendors are screened for legitimacy. This ensures that you can pay with confidence, and via a 2-factor authentication escrow system.
This is the highest-level encryption and professionally audited security tool you can get!
Other benefits include a rating of buyers to help you identify and ‘bookmark’ the best sellers to get your coins from.
You will be able to chat to real people when conducting transactions. This is facilitated with full mobile and desktop notifications via email. You will also have access to the full conversation transcript and history.
To stay completely anonymous, you can make payment for coins via Amazon Gift cards, or other vouchers. Have a look at the many options available and choose the one best suited to you.
Paxful comes with full support and even has a section for businesses to use Paxful as a payment system without bank accounts. This is facilitated with the relevant APIs to link to their eCommerce sites.
In summary, the Paxful wallet is designed for mainstream users. So if you are even the least technically savvy person, you can still use it.
As a Bitcoin first-timer, you can easily use Paxful wallet to make your way into the trading of altcoins – or just hold the coins for a large breakout in price.