@arliellewelyn
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Registered: 2 years, 8 months ago
Bitcoin and Find out how to Make Money With It
Good day 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 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 can be purchased on-line using real money.So then apart from being a decentralized currency what are its advantages, well you may transfer bitcoin anywhere in this world without a lot charges, you may be 100% nameless while doing transactions thanks to a technology called blockchain.So then what's the big thing about this you could ask, well let me tell you when it first launched it has completely no value but now 1 bitcoin = 6,689.35 $ that's some fairly spectacular growth is not it?.
So how does this thing grow you might ask, well let me let you know methods to maintain a blockchain there have to be something called a ledger where all the transaction needs to be noted and to become a block in a blockchain a hashing perform has to be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.
To solve the hashing perform typically folks used graphics cards but as time passed by bitcoin acquired more tough to mine and dedicated hardware called ASIC miners had been introduced.
So people who spend their money and time to mine bitcoin will be rewarded in bitcoins and as more and more folks grow to be part of this blockchain its value will increase.
so how can I make money with bitcoin, there are ways
1.you possibly can trade bitcoin/altcoin(any cryptocurrency other than bitcoin is called altcoin, yes there are millions of them)
2.you can mine them in your own
Each of those strategies have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extremely unreliable sooner or later it could be price 10,000$ and the subsequent day it could drop to one 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 is very risky and you could find yourself shedding cash slightly than making any profit.
Or you may select to mine bitcoins, however here is what you need to consider, mining hardware is super costly and mining requires a number of electricity,also mining issue is getting higher every day so that 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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