Hello there,

This is my very first article right here so hopefully this gets approved, I am going to share some factors 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 controlled by any bank or any authorities, it is basically a virtual currency and will be bought online utilizing real money.So then apart from being a decentralized currency what are its advantages, well you can transfer bitcoin wherever in this world without much charges, you could be a hundred% anonymous 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 absolutely no worth however now 1 bitcoin = 6,689.35 $ that’s some fairly impressive progress is not it?.

So how does this thing develop chances are you’ll ask, well let me tell you tips on how to maintain a blockchain there have to be something called a ledger the place all of the transaction has to be noted and to grow to be a block in a blockchain a hashing perform 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 acquired more troublesome 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 people develop into part of this blockchain its worth will increase.

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

1.you can trade bitcoin/altcoin(any cryptocurrency other than bitcoin is called altcoin, sure there are millions of them)

2.you possibly can mine them on your own

Both of those methods have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extraordinarily unreliable someday it may be price 10,000$ and the following day it might drop to a hundred$. Trading essentially means buying 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 you might find yourself shedding cash rather than making any profit.

Or you might select to mine bitcoins, but here is what you must consider, mining hardware is super costly and mining requires a lot of electricity,additionally mining difficulty 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 cash should you know what you’re doing.

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