Bitcoin Beginner Series EP2. How to get started with Bitcoin?

Bitcoin Beginner Series EP2: Want to get Bitcoin? How do you start?

Where can you get Bitcoin?

Once you understand what Bitcoin is and how it can be useful, the next question is, “How can we own it?” 

Here are 3 main popular methods today:

1. Mining

• Uses computers to solve mathematical equations to help secure the network.
• Miners are rewarded with Bitcoin, but currently, it requires high energy and high costs.
• Not suitable for beginners or those without technical knowledge.

2. Buying from an Exchange 

• The easiest method for beginners is to buy from a reliable exchange (an exchange regulated by the SEC). 
• Examples include Binance Thailand, Bitkub, Orbix, etc.
• You should choose a platform with good security systems and reasonable fees.

3. Receiving payment in Bitcoin 

• Some companies are starting to offer employees the option to receive their salary or wages in Bitcoin instead of cash.
• Suitable for those who want to accumulate Bitcoin consistently without having to buy it themselves.

For beginners, method 2, buying from an exchange, is the most convenient and accessible. But after buying, the crucial question is, "How do we keep our Bitcoin safe?" Because if it's lost or stolen, it cannot be recovered like a bank account.

How to Store Bitcoin Securely

Once you have Bitcoin, keeping it safe is extremely important, because if it's lost or hacked, you might not be able to recover it. There are two main ways to store it:

1. Leaving it with an Exchange (Custodial Wallet)

🔹 Similar to depositing money in a bank.

✅ Pros

• Easy to use, fast 
• Suitable for beginners
• No need to worry about backing up data

❌ Cons

• Exchanges can go bankrupt (e.g., FTX, Zipmex)
• You don't truly own the Bitcoin.
• Risk of being hacked or having your account suspended.

2. Storing it yourself (Self-Custody)

🔹 Similar to keeping cash with yourself.

✅ Pros

• Safer, no one can take your Bitcoin from you.
• You truly own your Bitcoin.
• No risk from exchange bankruptcy.

❌ Cons

• If you lose your private key, you might lose your Bitcoin forever.
• High responsibility in managing security.
• May involve more complex usage steps.

Now we know how to acquire Bitcoin and how to store it. So, if we want to "store Bitcoin ourselves," how can we do that? Please follow us in EP3!