Good day 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 do not know what Bitcoin is let me put it this way, Bitcoin is a currency which cannot be controlled by any bank or any government, it is basically a virtual currency and can be bought on-line utilizing 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 one hundred% nameless while doing transactions thanks to a technology called blockchain.So then what is the big thing about this you may ask, well let me inform you when it first launched it has absolutely no value but now 1 bitcoin = 6,689.35 $ that is some fairly impressive development is not it?.

So how does this thing grow chances are you'll ask, well let me let you know how you can sustain a blockchain there should be something called a ledger the place all of the transaction must be noted and to turn into 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 operate typically folks used graphics cards but as time passed by bitcoin got more troublesome to mine and dedicated hardware called ASIC miners have been introduced.

So people who spend their time and money to mine bitcoin will be rewarded in bitcoins and as more and more folks turn out to be part of this blockchain its worth will increase.

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

1.you'll be able to trade bitcoin/altcoin(any cryptocurrency apart from bitcoin is called altcoin, yes there are literally thousands of them)

2.you can mine them on your own

Both of these methods have their own advantages and disadvantages, because bitcoin is managed by nobody it is extraordinarily unreliable in the future it may be value 10,000$ and the following day it might drop to a hundred$. Trading essentially means shopping for bitcoin for real cash and praying that its value will go up and selling it when it has gone up.This approach is very risky and you might find yourself dropping cash reasonably than making any profit.

Otherwise you may choose to mine bitcoins, however here is what you must consider, mining hardware is super costly and mining requires numerous electricity,also mining issue 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 good ways to make money when you know what you might be doing.

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