Guide on Bitcoins – Can you make money from cryptocurrencies?

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Today we are going to talk about a popular way to generate money on the internet involving the famous bitcoin cryptocurrencies. Is it really that easy earn money with bitcoins? Everything you need to know about these coins will be in this article.

Why is bitcoin so expensive?

During its birth, bitcoin cost little and was even distributed for free to encourage people to use it. Over time, the black market and people who want to transact without being traced by the government began to use this currency, which dramatically increased supply and demand.

Everything that is scarce and valuable is expensive. The big problem that this currency goes up and down, no matter how much experts analyze its growth, its future is uncertain, especially with the growing amount of cryptocurrencies emerging.

Do Bitcoins and Cryptocurrencies Really Make Easy Money?

Its value and variation can also be explained by the fact that bitcoin is an autonomous currency, without the control of banks or governments. Bitcoin is just an object that people and investors are willing to pay dearly for. It's like the gold rush.

Is using bitcoin illegal?

No, bitcoin is not banned or illegal. Anyone can accept it at your establishment as a form of payment without problems. The truth is that there is no regulation on cryptocurrencies, although the government tries to push rules on it, there is not much to do.

Nowadays bitcoin is most of the time traceable, so it becomes increasingly impracticable to use bitcoin in trafficking or money laundering. It is still a very preferred currency, for its security, but nothing different from the dollar or another currency that the bandits use.

Do Bitcoins and Cryptocurrencies Really Make Easy Money?

All transactions are stored on the blockchain. This data is public and anyone can access it. However, the user ID is kept confidential. You store bitcoins in a digital cryptocurrency wallet called a wallet. It can be safe or dangerous, hackers are constantly looking for ways to steal bitcoins, but there are many safe wallets.

Who created Bitcoin and cryptocurrencies?

Bitcoin was one of the first cryptocurrencies created by the anonymous Satoshi. He made this currency available as an open source, which started the creation of numerous other currencies, each with its own proposal.

The concept of cryptocurrency was first mentioned in 1998 by Wei Dai on a cybherpunks mailing list. The goal has always been to have money that is in the person's own control rather than the government.

Do Bitcoins and Cryptocurrencies Really Make Easy Money?

I already wrote an article talking a little about Satoshi and the history of bitcoins on my other website Suki Desu Japanese culture. You can read the article about Satoshi clicking here.

What is mining and how does it work?

In addition to the buyer and seller, transactions need to be decrypted. This task is called mining and can be performed by anyone who has a computer, usually robust.

People who help to decrypt currencies earn a small percentage of the transaction. The decryption is done automatically, using all the power of thousands of machines until reaching the solution.

Do Bitcoins and Cryptocurrencies Really Make Easy Money?

Some invest heavily in mining machines that have super robust hardware and that cost a fortune, but are able to generate a lot of income in the month just by mining, despite the high energy bill.

Even video cards became more expensive after people discovered that it is possible to mine using the power of video cards. Sites have also used visitors' computers to mine, so beware of sites that consume a lot of your computer's processor and RAM.

How to get bitcoins?

Since Bitcoin is currently very expensive, people transact with small bits of bitcoin called satoshi. These fractions are equivalent to cents, but the values ​​are usually less than 0.01.

You can get bitcoins in several different ways. We can list some of the ways below:

  • With payment for goods and services;
  • Buy bitcoins at exchange offices;
  • Through exchanging with a friend;
  • Through homemade mining;
  • Through mining in the Cloud;
  • Using trader networks and binary operations;
  • Faucet and alternative free forms;

What are the advantages of Bitcoin?

Some wonder what are the advantages of using bitcoin. Many got rich without waiting to have bitcoins stored or to make transactions and exchanges, but when it comes to money, what are the advantages of using it?

One of the main advantages is that bitcoin is a universal currency and gives you complete freedom of payment. You can receive and send any amount of money from anywhere in the world without worrying about borders, limits and taxes.

Do Bitcoins and Cryptocurrencies Really Make Easy Money?

Bitcoin exchange rates are much lower than any other currency, it also presents less risk to traders because they are safe and irreversible. As already mentioned, all transfers are public.

What are the disadvantages of bitcoin?

Unfortunately the degree of acceptance bitcoin is very low compared to normal currencies. Few businesses accept bitcoin, luckily it is much more advantageous than any other cryptocurrency.

It is also quite volatile and its future is uncertain. Its popularization gave a great appreciation in the currency, but its value can fall drastically causing some investors to lose their money, or the opposite can happen and they become richer.

Do Bitcoins and Cryptocurrencies Really Make Easy Money?

Its development is still ongoing, it is not clear which direction the currency can take. Bitcoin can also have many disadvantages compared to other cryptocurrencies that promise innovative solutions.

Beware of Cryptocurrency Traders

Once in a while you come across an ad, phone call or even a message on your social networks from people inviting you to join a network or work with a particular cryptocurrency-related trading and trading application or even the dollar.

Be very careful with these trickster tactics that these traders use to recruit people to their racketeering platform. They promise millions of profits in minutes, but in reality binary, forex and trader trading is just a gamble and gamble.

Do Bitcoins and Cryptocurrencies Really Make Easy Money?

They really are not lying in saying that you can make easy money. It's just a thousand times easier for you to lose all your money. Do not waste time entering this jungle of operation without understanding the subject. The most annoying thing you have is these marketers who are inviting people to make money instead of operating themselves.

How can I learn more about Bitcoin?

There is a course that I find very interesting called Bitcoin Secrets. In it you will learn absolutely everything about bitcoins. The course owner also provides a free book which shows 4 simple steps to make money with bitcoin.

In this course you will learn about Bitcoin, how to invest in bitcoin, how to analyze a cryptocurrency, how to acquire bitcoin in practice, how to make international exchanges, how to withdraw and declare income tax, different investment modalities and strategies, day trade and scalping, tools and mining and many others.

I hope you take advantage of the tips provided by the free book and also the course if you want to invest in that knowledge. If you liked the article don't forget to share it with your friends and leave your comments.

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