Bitcoin and The best way to Make Cash With It

Howdy there,

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

For these of you who don’t 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 can be bought online 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% nameless while doing transactions thanks to a technology called blockchain.So then what is the big thing about this you may ask, well let me let you know when it first launched it has absolutely no worth however now 1 bitcoin = 6,689.35 $ that’s some fairly spectacular growth is not it?.

So how does this thing develop it’s possible you’ll ask, well let me inform you find out how to maintain a blockchain there should be something called a ledger where all of the transaction has to be noted and to turn out to be a block in a blockchain a hashing function has to be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To solve the hashing perform typically people used graphics cards however as time passed by bitcoin bought more troublesome to mine and dedicated hardware called ASIC miners have been introduced.

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

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

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

2.you can mine them on your own

Each of those methods have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extremely unreliable sooner or later it will be value 10,000$ and the subsequent day it may drop to a hundred$. Trading essentially means shopping for bitcoin for real money and praying that its price will go up and selling it when it has gone up.This approach may be very risky and chances are you’ll end up dropping cash slightly than making any profit.

Otherwise you may choose to mine bitcoins, but here’s what it is best to consider, mining hardware is super expensive and mining requires a lot of electricity,additionally mining problem is getting higher day-after-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 money when you know what you might be doing.

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