Howdy there,

This is my very first article here so hopefully this gets approved, I am 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 managed by any bank or any authorities, it is basically a virtual currency and will be purchased on-line utilizing real money.So then apart from being a decentralized currency what are its advantages, well you can transfer bitcoin anywhere in this world without a lot fees, you can 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 absolutely no worth but now 1 bitcoin = 6,689.35 $ that is some fairly spectacular growth is not it?.

So how does this thing grow you may ask, well let me inform you the best way to maintain a blockchain there have to be something called a ledger the place all the transaction needs to be noted and to change into a block in a blockchain a hashing operate needs to be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To resolve the hashing operate typically folks used graphics cards however as time passed by bitcoin received 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 grow to be part of this blockchain its value will increase.

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

1.you may trade bitcoin/altcoin(any cryptocurrency other than bitcoin is called altcoin, yes there are literally thousands of them)

2.you possibly can mine them on your own

Both of these strategies have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extremely unreliable sooner or later it will be worth 10,000$ and the next day it might drop to 100$. Trading essentially means buying bitcoin for real cash and praying that its price 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 fairly than making any profit.

Or you may select to mine bitcoins, but here is what you need to consider, mining hardware is super expensive and mining requires numerous electricity,additionally mining difficulty is getting higher every single day 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 when you know what you are doing.

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