Hi there there,

This is my very first article right here so hopefully this gets approved, I’m going to share some points about bitcoin and blockchain.

For those 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 can be bought on-line using real money.So then apart from being a decentralized currency what are its advantages, well you may switch bitcoin anyplace in this world without much charges, you could be one hundred% nameless while doing transactions thanks to a technology called blockchain.So then what is the big thing about this you could 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 growth isn’t it?.

So how does this thing develop you might ask, well let me tell you methods to sustain a blockchain there should be something called a ledger where all the transaction needs to be noted and to become a block in a blockchain a hashing function must be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To unravel the hashing function typically individuals used graphics cards however as time passed by bitcoin acquired more difficult to mine and dedicated hardware called ASIC miners were introduced.

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

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

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

2.you can mine them in your own

Both of these methods have their own advantages and disadvantages, because bitcoin is controlled by nobody it is extremely unreliable someday it might be worth 10,000$ and the next day it may 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 you could end up shedding cash moderately than making any profit.

Otherwise you may choose to mine bitcoins, however here is what it’s best to consider, mining hardware is super costly and mining requires a lot of electricity,also mining difficulty is getting higher every 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 money if you know what you are doing.

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