Bitcoin and how to make money with it


This is my first article here, I hope it will be approved, I will share some points bitcoin and blockchain.

For those who don’t know what it is Bitcoin Let me put it this way Bitcoin is a currency that cannot be controlled by any bank or government, it is basically a virtual currency and can be bought online using real money. So, besides being a decentralized currency, what are its advantages, you can transfer well. bitcoin thanks to the technology called, you can be 100% anonymous when doing very free transactions anywhere in the world. blockchain.So you might ask what’s the biggest thing about it, let me tell you that when it first launched it cost nothing, but now 1 bitcoin = $6,689.35, that’s a pretty impressive increase, right? .

So how does this thing grow, you may ask, let me tell you how to run the blockchain, there must be something called a ledger where all transactions must be recorded and the hashing function must be solved to become a block on the blockchain. and producing bitcoins by solving hashes is called Mining Bitcoin.

People usually used graphics cards to solve the hashing function, but over time, bitcoin mining became more difficult and special equipment called ASIC miners were introduced.

So people who spend their time and money to mine bitcoins will be rewarded with bitcoins, and as more and more people become part of this blockchain, its value will increase.

How can I earn money? bitcoin, there are two ways can trade with bitcoin/altcoin (any cryptocurrency other than bitcoin is called altcoin, yes there are thousands)

2. You can mine them yourself

Both of these methods have their advantages and disadvantages, because bitcoin is not controlled by anyone, it is extremely unreliable, it can be worth $10,000 one day and drop to $100 the next. Trading essentially means buying bitcoin for real money and praying for its price to go up and selling it when it does. This approach is very risky and you may lose money instead of making any profit.

Or you can choose to mine bitcoins, but this is what you need to consider, mining equipment is very expensive and mining requires a lot of electricity, also the difficulty of mining is increasing every day, so without a high start, you will not be able to make some profit. investment.

Bitcoin trading and mining are two good ways to make money if you know what you are doing.