Bitcoin and real money

Real ways to earn money with Bitcoin

All those who want to earn extra money on bitcoin, they should follow the simple rules. After all, the cryptocurrency market is still in the process of its formation, being risky, but at the same time very profitable. What equally as possible and to multiply, and to lose on bitcoin. Here is the first and logical rule – do not invest more than allow himself to lose.

Investing in any cryptocurrency it is advisable in a period of declining prices. At least known fact that Amateurs often take off the existing currency, namely the collapse of its course, whereas experienced investors to invest and buy it. However, stick to this rule it is not necessary in 100% of all cases, because the market no prophets, know for sure that the crash price will again increase significantly. So you can on the contrary lose a lot. Here is a double-edged sword. All you need is to be vigilant, able to wait and analyze, because no one can guarantee tomorrow of course. Therefore, you should not play with bitcoin. It is advisable to keep it for 1-3 years, thus verifying earlier predictions, and making your plan.

Answering the question “how to earn money on bitcoin?”it has a very simple answer: “you need to take bitcoins and can be exchanged for real money.” Absurdly funny and simple, isn’t it? But one thing remains most important in all of this is to find out exactly how and where to get bitcoins or how you can make money on those who owned them.

If you have decided to earn extra money on bitcoin, then you logically need a place to store it. You will need to download and install any wallet on your computer, your phone / tablet or use the web wallet. But you should review all the proposed kinds of purses and choose the best for you. Using these wallets you will be able to exchange the accumulated bitcoin for real money.

Try to approach the question of bitcoin seriously and carefully examined for its own understanding of what the cryptocurrency, in particular bitcoin and what are its features and the terms of the transaction. After all, the difference bitcoin and conventional currencies is not found in its virtual origin. Without understanding basic things about the “bitcoin economy” you risk not to make money, and even lose on it. Remember that always and in everything there is a catch, especially in the world of Finance. Consider each type of earnings in bitcoin from every possible angle before to start to implement it.

Let’s look at real ways to earn money with Bitcoin:

• The first and most logical way to earn bitcoins is to trade goods or services for bitcoins . Why not? Consider the case when the customer has bitcoins, which he may agree to pay for your product/service. All that is needed is to clarify the scheme of conversion of cryptocurrency and its output. Plus here is that you will earn on the growth rate of bitcoin. The investigation may be to cover the fee and even get on top of earned. Here the similarity with the game on the variances of the exchange rates. Minus such payment is that there is always a possibility of losing on the depreciation. So, you should always carefully follow the price fluctuations of bitcoin.
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• Mining – what not only lazy not heard. In a nutshell, you need to install on your computer a special program miner. This program allows you to mine bitcoins. The computer must have a ASIC processor and powerful graphics card. A running program solving the problem is mining bitcoins using the power of the computer. But if everything was so very simple, the value of bitcoin would not be so high. The fact that even with a powerful video card and processor ASIC is unlikely to mine bitcoins for a short time. Because for a long time nobody mines individually, after all the tasks each time become complicated together with really high cost electricity. So in the United States mining bitcoins occupied the whole of the so-called farm, which by virtue of their capacity of the mine, for example, approximately 20 to 25 bitcoins per 10 minutes.

But if you desire mine, then you have to pull up your knowledge of programming and be prepared to spend a lot of money. First, you need to read reviews about the hardware to choose. But let us clarify once again, mining it’s very expensive. You have to calculate on average how much it will cost you payment for the electricity that will consume the equipment around the clock. In total initially, you will have at least to spend about 1.5 million. But there is no any guarantees that this initial investment will come back home from such mining.

So, more reasonable would probably be to create a mining farm for the type of pool miners to join forces and money to others. In simple words little communism:) Consequently you will be able to perform all possible tasks of lesser difficulty and earn their share. But, above all, in order not to miscalculate with a choice of pool (all pools are here), you need to find answers to the following questions: – How often the blocks are mined at this pool? – What will your share of the earnings? – What are the fees for mining and for withdrawing bitcoins? – Where and how cryptocurrency can be withdrawed?

Collective mining is suitable for those who have no particular desire to dive into all the technical details. This is great for a cloud mining where you are, in fact, vaguely rent equipment from the company. You need to choose a pool, register it in the cloud, transfer the money and wait for their share. At first glance, all this is very elementary, but statistics show otherwise. Be extremely careful when choosing a cloud miner, because about 90% of them are cheating. So do not be lazy to double-check!
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• Simply buy bitcoin – it’s the easiest way. Despite its fluctuations in value of bitcoin, in General, the trend is still growing and apparently really will be saved. This repeat many experts. Investing in bitcoin with the expectation of its growth – quite a profitable business, but only provided that it is not the last money. Like any financial instrument, cryptocurrency is associated with high risks. There’s always a probability that the price of bitcoin will stop growing, or even collapse. Always remember that the value of bitcoin based on speculation. Understanding and accepting this, the expectation of the earnings on bitcoin becomes simple and promising lucrative.
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• You can also consider this type of stock trading like PAMM accounts . Here opening this kind of account do you trust your capital to another trader, whose task will be to his augmentation. Of course there will have to pay a certain, pre-determined, percentage for account management. In fact here is a view of a passive income. Plus the fact that you are not wasting your time as well as being an experienced trader in this field to some extent not at risk of losing the investment because of this. But there is a significant disadvantage, apart from the fact that such trading is very risky, it is simply do not practice on major cryptocurrency exchanges.
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• Alternatively, you can just start to invest in bitcoin companies , if you want to earn on the growth rate batocina without buying the bitcoin. Bitcoin companies are, first and foremost, companies that are active in the crypto industry. To them credit: Bitcoin Shop, Bitcoin Investment Trust, SmartMetric and a few other companies whose shares are traded on traditional exchanges. They all function well and compete in the environment of large companies and the Finance, that makes the prospect of investing here is very good.
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• Engage in stock trading . The bottom line is the best cryptocurrency as cheaply as possible to further its sale, but expensive on a specialized exchange. You first need to register with the exchange to acquire bitcoins. There is also a trading platform which provides access to the indicators and graphs for the convenience of the trader.

But there is a point that is very important to clarify – this is withdrawal. Note on the method of withdrawal of profits, due to carelessness and their ignorance of the surprise can be even a thorough process of verification of the identity of the trader. It is important to carefully examine the amount of Commission that you will have to pay when withdrawing money. Because often you can stumble on a dubious exchange Commission change very often or very many rules of their calculation. You need to check and calculate the fee prior to each withdrawal and conversion of money. Because of inattention, even earning growth of bitcoin, you can stay with the donut hole. In other words, if not double-check the fee, which is quite large, then if a positive outcome is no guarantee that the profit will cover the cost of its output. Also be alert to the very good conditions and small size of the Commission. This shows, first that the trick lies something else. Because the exchange is not charity! and other nuances.

Another very important point is to not store on the exchange all the money or what ever large amount. Always try to withdraw accumulated profits. Cryptocurrency exchanges rather unstable structures that are exposed and hacking, and state pressure, and many other threats, under the influence of which you can not immediately understand how exchange is already present, and your money too. Don’t keep all your eggs in one basket! Consider, for example over the location of the cryptocurrency on a cold wallet, a certain amount of money on the card and the rest in a normal wallet.

In General, stock trading is a very interesting and profitable business, but only in the case when a trader typed desire, knowledge and experience. But luck and the banal luck has not been canceled. In the case of bitcoin, the last is the key. Because the rate of bitcoin gallops under the influence of various factors, and predict with accuracy what he once again will change its direction and which way almost impossible. You can see the similarities between cryptocurrency trading with gambling. It is important to understand and accept the risks, since such a cryptocurrency like bitcoin is very expensive, the potential profit is high and losses can be very large. With regards to the list of cryptocurrency exchanges can be easily found in any search engine by typing a query. Finding the list, main is to make the right choice. First and foremost, pay attention to the background of every exchange, as exchange is, how strict are the requirements concerning the verification of the user and conditions of trading. Be sure to read the reviews about the selected stock exchange, there lies the whole point, besides, to hide any negative information is almost impossible, thanks to the Internet.

“General Risk Warning: Binary options trading carry a high level of risk and can result in the loss of all your funds.”

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What is Bitcoin and is it real money?

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Many believe that it could emerge as a mainstream payment method following the Covid-19 pandemic.

Statista estimates that the open-source software currently has over 68 million unique users.

But what is Bitcoin, and is the money real?

What is Bitcoin?

Bitcoin is a type of cryptocurrency, which is a virtual or digital currency – like an online version of cash.

It works without a central bank and is usually exchanged from person-to-person when it is sold or exchanged, without anyone working in-between to overlook the transaction.

Some people like the fact that Bitcoin is not controlled by the government or banks.

It was first released in 2009 and its value has fluctuated over the last 12 years.

People can track their ownership of Bitcoin by using a cryptocurrency wallet, which is a digital way to exchange payments.

It is easy to track as details are stored in a ledger called blockchain, which is publicly accessible and it includes all confirmed transactions.

The value of the cryptocurrency fluctuates all the time in a similar way to more conventional currencies.

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Is Bitcoin real money?

Yes, Bitcoin is technically real money. It is totally online, so you can’t get physical notes or coins.

You can use it to buy things, but not many shops accept it just yet.

Some businesses in the US, Canada, Australia, and the EU have started moving towards accepting Bitcoin – but there is a long way to go yet before it competes with our current form of currency.

Bitcoin is banned in countries including China, Russia, and Vietnam as it is not considered a legitimate form of payment.

It is very high-risk, but some people have made a fortune from it.

However, the nature of it being virtual means that difficulties can part you from your money very easily.

Get in touch with our news team by emailing us at webnews@metro.co.uk.

For more stories like this, check our news page.

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What Is Bitcoin #2: Bitcoin Is Real Money

Blog Home › Bitcoin › What Is Bitcoin #2: Bitcoin Is Real Money

Rat poison. The most important invention since the internet The next tulip mania. A swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy.

Bitcoin has been called every name from the woeful to the wonderful, with the last quote from Microstrategy CEO Michael Saylor standing out for its poetic qualities. Indeed, Bitcoin is a difficult subject to fit into a box. Yet, at its core, Bitcoin is money. Or to be more exact, Bitcoin is the most real money humanity has ever known.

In the previous article, we traced the exciting evolution of money from barter to banknotes to Bitcoin. After our quick lesson, we can now answer the basic question with which we started the journey.

Unlock your financial freedom

What is Money?

Money is an asset that performs three functions.

1. Store of value: Money is used to preserve wealth into the future. Think of it as a way to transmit value across time.
2. Medium of exchange: Money is used to pay for goods and services. Think of it as a way to transmit value across space.
3. Unit of account: When we want to express how much something is worth, we do so in reference to a unit of money.

Fiat currencies are fully accepted as mediums of exchange and units of account, and do a good job of moving wealth across space. However, fiat currencies are a poor way to transmit value through time, as inflation eats away at their purchasing power. In just the last 12 months, fiat money supply has exploded by 70%, or 18% year-on-year inflation over the last 10 years.

Gold, on the other hand, has traditionally been the address for citizens fleeing the ravages of fiat inflation. If you invested your $1,000 wealth into gold when President Richard Nixon ended the gold standard in 1971, you would have $44,680 dollars today. At the same time, those that kept it in fiat would see their buying power decreased to $163.2

However, you can’t exactly buy a cup of coffee with your gold bar. As a form of money, Gold’s analog structure is unsuitable for the 24/7 nature of our hyper-connected markets.

Satoshi Thought Money Needed an Update Badly

What needed creating was a system that encompasses the best of both worlds, and that is what Satoshi achieved with the launch of Bitcoin. Like gold, it has performed incredibly well as a safe haven from fiat inflation, up 500% from last year. Like fiat money, it’s divisible and portable. Bitcoin’s journey to full global money has begun at the ‘store of value’ phase. Many have been drawn to Bitcoin for its purpose as ‘digital gold,’ including investing heavyweights like Paul Tudor Jones, Stan Druckenmiller, and MassMutual.

Even in the store of value department, Bitcoin has a few key characteristics that position it as superior to gold:

1. Portability – The main distinguishing factor between Bitcoin and gold lies in your ability to move them around. Bitcoin is stored on the internet and moves in minutes. Gold is stored in physical vaults and moves in days. A private key written on a piece of paper, stored in a hardware wallet, or even remembered in your head is all you need to move your wealth across continents.
2. A predictable supply schedule that can be audited by anyone on a transparent blockchain.
3. Absolute scarcity – There will only ever be 21 million Bitcoin mined. Ever
4. Divisibility – One Bitcoin can be broken down into 100,000,000 Satoshis
5. Censorship resistant – No one can seize a user’s wealth or prevent them from spending it as they see fit.
6. Permissionless – Using cryptocurrencies requires a wallet and a private key, which can be generated by anyone without the need for permission.
7. Self-sovereign – People actually own their crypto wealth. They do not need to trust a third party to hold custody of their asset.

It is these set of characteristics that position cryptocurrencies not only to eventually capture a significant portion of the $10 trillion gold market but to significantly expand the market beyond traditional holders of gold.

What Comes Next?

While the quest to overtake gold as the world’s most prestigious store of value is demanding in itself, Bitcoin will not stop there.

Work is underway to build the infrastructure and tooling that will make it even quicker and cheaper to transact using Bitcoin, thus allowing it to become a true ‘medium of exchange.’ The recent announcement by Tesla that they plan to accept Bitcoin as a method of payment could accelerate its acceptance as a ‘medium of exchange’ even further.

Finally, a future in which Bitcoin serves as both a store of value and a medium of exchange is a future in which prices will come to be quoted in Bitcoin. At this stage, Bitcoin’s evolution into full global money would be complete. Such a future scenario even has a catchy name.

With Coinmama, citizens from all around the world can begin to take control over their financial destinies and connect their wealth to the future.

In the next article, we’ll familiarize ourselves more with the technological innovations that set Bitcoin apart from every form of money that came before it. If you’ve ever found yourself confused by the difference between Bitcoin, blockchain, and everything in between, you’ll want to tune in for the next one.

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