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Hi there there,

This is my very first article right here so hopefully this gets approved, I am 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 can’t be managed by any bank or any government, it is basically a virtual currency and might be bought on-line using 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 will be a hundred% nameless while doing transactions thanks to a technology called blockchain.So then what’s the big thing about this you may ask, well let me let you know when it first launched it has completely no worth but now 1 bitcoin = 6,689.35 $ that is some fairly spectacular growth isn’t it?.

So how does this thing grow it’s possible you’ll ask, well let me inform you how one can maintain a blockchain there have to be something called a ledger the place all the transaction has to be noted and to develop into a block in a blockchain a hashing perform needs to be solved and producing bitcoin by fixing hashes are called Mining Bitcoin.

To unravel the hashing perform typically individuals used graphics cards but 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 individuals develop into part of this blockchain its value will increase.

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

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

2.you may mine them in your own

Each of these 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 following day it may drop to 100$. Trading essentially means buying bitcoin for real money and praying that its value will go up and selling it when it has gone up.This approach is very risky and it’s possible you’ll find yourself shedding cash rather than making any profit.

Or you would possibly select to mine bitcoins, but here’s what you need to consider, mining hardware is super expensive and mining requires a lot of electricity,also mining issue is getting higher day by 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 in the event you know what you might be doing.

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