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Bitcoin and How one can Make Money With It

 

Howdy there,

 

 

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

 

 

For those of you who do not know what Bitcoin is let me put it this way, Bitcoin is a currency which cannot be managed by any bank or any authorities, it is basically a virtual currency and could be bought online utilizing real money.So then apart from being a decentralized currency what are its advantages, well you may transfer bitcoin anyplace in this world without a lot fees, you will be 100% nameless while doing transactions thanks to a technology called blockchain.So then what's 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 pretty spectacular progress is not it?.

 

 

So how does this thing grow you may ask, well let me let you know find out how to sustain a blockchain there have to be something called a ledger where all the transaction has to be noted and to become 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 operate typically individuals used graphics cards but as time passed by bitcoin acquired more troublesome to mine and dedicated hardware called ASIC miners were introduced.

 

 

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

 

 

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

 

 

1.you'll be able to trade bitcoin/altcoin(any cryptocurrency apart from bitcoin is called altcoin, yes there are literally thousands of them)

 

 

2.you'll be able to mine them on your own

 

 

Both of these methods have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extremely unreliable sooner or later it may be value 10,000$ and the next day it may drop to 100$. Trading essentially means shopping for bitcoin for real money and praying that its worth will go up and selling it when it has gone up.This approach could be very risky and chances are you'll find yourself losing money rather than making any profit.

 

 

Or you may choose to mine bitcoins, but here is what you must consider, mining hardware is super expensive and mining requires a lot of electricity,also mining issue is getting higher day by day 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 money if you happen to know what you are doing.

 

 

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Website: https://btc-trader.pro/de/

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