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Hey there,

This is my very first article right 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 can’t 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 can switch bitcoin anyplace in this world without much fees, you could be 100% nameless while doing transactions thanks to a technology called blockchain.So then what’s the big thing about this chances are you’ll ask, well let me inform you when it first launched it has absolutely no value however now 1 bitcoin = 6,689.35 $ that’s some pretty impressive development is not it?.

So how does this thing develop you might ask, well let me inform you how you can maintain a blockchain there have to be something called a ledger the place all of the transaction has to be noted and to become a block in a blockchain a hashing operate must be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

To resolve the hashing perform typically folks used graphics cards but as time passed by bitcoin bought more difficult to mine and dedicated hardware called ASIC miners were introduced.

So individuals who spend their time and money to mine bitcoin will be rewarded in bitcoins and as more and more folks develop 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 aside from bitcoin is called altcoin, sure there are millions of them)

2.you may mine them on your own

Each of these strategies have their own advantages and disadvantages, because bitcoin is managed by nobody it is extremely unreliable someday it will be price 10,000$ and the subsequent day it might drop to one 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 could be very risky and you might find yourself shedding money slightly than making any profit.

Otherwise you may choose to mine bitcoins, but here is what you need to consider, mining hardware is super costly and mining requires lots of electricity,additionally mining issue is getting higher on daily basis 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 if you know what you’re doing.

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