Hiya 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 these 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 government, it is basically a virtual currency and may be purchased online utilizing 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 fees, you could be a hundred% nameless while doing transactions thanks to a technology called blockchain.So then what’s the big thing about this you might ask, well let me let you know when it first launched it has completely no worth however now 1 bitcoin = 6,689.35 $ that’s some pretty impressive growth isn’t it?.

So how does this thing grow it’s possible you’ll ask, well let me inform you how to sustain a blockchain there should be something called a ledger the place all of the transaction must be noted and to become a block in a blockchain a hashing operate has to be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

To unravel the hashing function typically individuals used graphics cards however as time passed by bitcoin bought more difficult to mine and dedicated hardware called ASIC miners had been introduced.

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

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

1.you possibly can trade bitcoin/altcoin(any cryptocurrency apart from bitcoin is called altcoin, yes there are thousands of them)

2.you possibly can mine them on your own

Each of those methods have their own advantages and disadvantages, because bitcoin is managed by nobody it is extraordinarily unreliable someday it can be value 10,000$ and the subsequent day it could drop to one hundred$. Trading essentially means buying bitcoin for real cash and praying that its worth will go up and selling it when it has gone up.This approach may be very risky and you could find yourself shedding money moderately than making any profit.

Otherwise you might choose to mine bitcoins, but here’s what it’s best to consider, mining hardware is super expensive and mining requires a lot of electricity,additionally mining difficulty is getting higher daily 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 cash when you know what you might be doing.

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