Bitcoin and Learn how to Make Money With It

Good day there,

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

For these of you who do not know what Bitcoin is let me put it this way, Bitcoin is a currency which cannot be controlled by any bank or any authorities, it is basically a virtual currency and could be bought on-line using real money.So then apart from being a decentralized currency what are its advantages, well you possibly can switch bitcoin wherever in this world without a lot charges, you will be one hundred% nameless while doing transactions thanks to a technology called blockchain.So then what is the big thing about this it’s possible you’ll ask, well let me tell you when it first launched it has completely no value however now 1 bitcoin = 6,689.35 $ that’s some fairly impressive growth is not it?.

So how does this thing grow you might ask, well let me tell you how one can maintain a blockchain there should be something called a ledger where all of the transaction needs to be noted and to change into a block in a blockchain a hashing operate needs to be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

To solve the hashing function typically folks used graphics cards however as time passed by bitcoin got more difficult to mine and dedicated hardware called ASIC miners were introduced.

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

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

1.you can trade bitcoin/altcoin(any cryptocurrency aside from bitcoin is called altcoin, yes there are millions 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 managed by nobody it is extremely unreliable at some point it could be price 10,000$ and the following day it could drop to a hundred$. Trading essentially means buying bitcoin for real cash and praying that its price will go up and selling it when it has gone up.This approach is very risky and chances are you’ll end up shedding cash slightly than making any profit.

Or you might select to mine bitcoins, but here is what you need to consider, mining hardware is super costly and mining requires a lot of electricity,also mining issue is getting higher on daily basis so that you won’t be able to get some profits without high initial investment.

That being said bitcoin trading and mining are two good ways to make cash should you know what you are doing.

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