Bitcoin and Methods to Make Cash With It

Hi there there,

This is my very first article right here so hopefully this gets approved, I’m going to share some points about bitcoin and blockchain.

For those of you who don’t know what Bitcoin is let me put it this way, Bitcoin is a currency which cannot be controlled by any bank or any government, it is basically a virtual currency and could be bought on-line utilizing real money.So then apart from being a decentralized currency what are its advantages, well you can transfer bitcoin anyplace in this world without much fees, you can be 100% anonymous while doing transactions thanks to a technology called blockchain.So then what’s the big thing about this you might ask, well let me inform you when it first launched it has completely no worth but now 1 bitcoin = 6,689.35 $ that is some fairly spectacular growth isn’t it?.

So how does this thing grow you could ask, well let me tell you learn how to maintain a blockchain there should be something called a ledger the place all the transaction needs to be noted and to turn out to be a block in a blockchain a hashing operate must be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To solve the hashing function typically individuals used graphics cards but as time passed by bitcoin received more difficult to mine and dedicated hardware called ASIC miners have been introduced.

So individuals who spend their money and time to mine bitcoin will be rewarded in bitcoins and as more and more people develop into part of this blockchain its worth will increase.

so how can I make money with bitcoin, there are ways

1.you possibly can trade bitcoin/altcoin(any cryptocurrency aside from bitcoin is called altcoin, sure there are thousands of them)

2.you’ll be able to mine them in your own

Both of these methods have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extraordinarily unreliable at some point it will be price 10,000$ and the next day it could drop to a hundred$. Trading essentially means buying bitcoin for real money and praying that its worth will go up and selling it when it has gone up.This approach may be very risky and you might find yourself dropping cash slightly than making any profit.

Or you would possibly choose to mine bitcoins, but here’s what you need to consider, mining hardware is super costly and mining requires plenty of electricity,additionally mining problem is getting higher daily so you won’t be able to get some profits without high initial investment.

That being said bitcoin trading and mining are good ways to make cash if you happen to know what you’re doing.

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