IT in Banking

Five ways to get BTC in 2020

Johannesburg, 20 Apr 2021
Read time 4min 20sec

In this digital society, crypto-currencies are getting even more popular as a means of transferring funds over the Internet. Bitcoin and its successors like Litecoin, Monero and Libra are considered a viable alternative to traditional currencies and, based on many facts, this will likely become true faster than expected. But Bitcoin is still one of the largest crypto-currencies by market capitalisation, while its price surpassed $17 000 in November 2020. That being said, there are a lot of people around the world who want to obtain BTC. In this press release, we provide an overview of different ways you can get BTC in 2020.

Bitcoin mining

Bitcoin mining is a crucial process that maintains the security of the blockchain network, and it is also the way new BTC gets discovered. Bitcoin mining was the only way, in the beginning, where you could get BTC. There were no barriers to becoming a miner, as you could mine using your personal computer. However, now we are looking at a different reality.

Mining takes a lot of time, it needs great computer hardware, and your electricity bill will likely increase due to mining. So, even though for some people it is profitable, most miners don’t work on their own anymore. As a matter of fact, most of them join mining pools and mining farms.

If you want to become a miner, you also need to know that the block reward gets halved after four years, or after 210 000 are mined. The reward they got in 2020 was 6.25 BTC. Miners also need to solve cryptographic problems (also known as hash puzzles) to add a block of transactions to the blockchain and get their rewards. On the other hand, miners get processing fees for their work, but the reward is still the main way for compensation.

Online exchange

Because mining has become a difficult task that isn’t really profitable for most people, most online trading platforms have gained a massive audience. It is more accessible for individuals who want to invest in BTC to make an account on a trading site. Not only is the registration process completed in a few minutes, but you can easily trade from your mobile and desktop devices.

Bitcoin Profit is an exchange platform where you can earn up to $1 million in less than a year of trading there. Furthermore, when you’re trading with, you can earn up to $1 500 on a daily basis if you deposit at least $250. This is an automated trading system, which means it operates automatically and it does not require you, as a user, to put in a lot of effort. Moreover, it is a reliable platform and it has won the Top Bitcoin Robot 2020 award by InsideBitcoins, among many other awards.

Bitcoin ATM

Bitcoin ATMs work like regular ATMs, but some offer an option to exchange your cash for Bitcoin. This is an easy way to get BTC. There are over 11 000 Bitcoin ATMs all over the world, but you need to do your own research and find ATMs in your area. So, to put it in a nutshell, Bitcoin ATMs will allow you to sell your cash for BTC and also to purchase Bitcoin. In order to use Bitcoin ATMs, however, you will need a Bitcoin Wallet.

Businesses and BTC

If you have a business, you can implement a payment gateway for crypto-currencies that will process Bitcoin payments. You will need to invest in a good Bitcoin Wallet and show your Bitcoin address to your clients so they can send you BTC when they want to buy your products or services. This is useful if your business operates offline.

Also, businesses that sell digital products/services online on their Shopify shop can accept BTC payments. Additionally, non-profit organisations can also accept BTC donations in the same way as online and offline businesses. Today there’s an increasing number of businesses and non-profit organisations that accept Bitcoin, like Wikipedia, The Water Project, AT&T, Twitch, Burger King and many others.

Exchange BTC in person

Some people still prefer to get BTC offline. Luckily, if you also want to exchange cash for BTC, there are sites where you can find like-minded people in your area and make a deal to meet and make an exchange. A great site you can visit for this purpose is LocalBitcoins.


In conclusion, investing in Bitcoin nowadays is certainly a wise choice. Otherwise, as Bitcoin is getting more popular, there are even more options for you to obtain BTC. Some options include answering surveys, playing games, writing articles and even reading classics. Still, if you decide to get BTC, you need to pick a reliable option that works for your financial situation and personal goals.

See also