Hey 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 can’t be managed by any bank or any authorities, it is basically a virtual currency and might be purchased online utilizing real money.So then apart from being a decentralized currency what are its advantages, well you’ll be able to transfer bitcoin anywhere in this world without much charges, you might be a hundred% anonymous while doing transactions thanks to a technology called blockchain.So then what is the big thing about this you may ask, well let me inform you when it first launched it has completely no worth however now 1 bitcoin = 6,689.35 $ that is some pretty impressive progress isn’t it?.

So how does this thing grow it’s possible you’ll ask, well let me tell you tips on how to sustain a blockchain there must be something called a ledger where all the transaction has to be noted and to change into a block in a blockchain a hashing perform has to be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To resolve the hashing perform typically people used graphics cards but as time passed by bitcoin got more difficult 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 folks become part of this blockchain its worth will increase.

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

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

2.you possibly can 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 one day it may be worth 10,000$ and the subsequent day it could 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 is very risky and chances are you’ll find yourself shedding money reasonably than making any profit.

Or you might select to mine bitcoins, but here is what it is best to consider, mining hardware is super costly and mining requires numerous electricity,additionally mining problem is getting higher every single day 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 money in case you know what you are doing.

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