How To Trade, Mine & Invest Bitcoin Cryptocurrency
Bitcoin Cryptocurrency trading, mining, and investment is the real deal right now; many people around the world are becoming so rich through this simple and easy online business. Though it requires experience, capital, and a strong mind to start this business; in this article, I am going to educate you on what Cryptocurrency is all about and how you can start earning big from it.
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What is Cryptocurrency?
Cryptocurrency is digital money that can be used as payment for goods and services. This currency is accepted in almost all the country of the world, unlike banknote which is usable in just one country. Cryptocurrency is a worldwide currency and it is not managed by any bank or government, you are a manager of your account and money this means no tax or charges is required when you make a transaction.
cryptography is used to verify and secure transactions as well as to control the creation of new units of a particular Cryptocurrency. Essentially, Cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled.
Satoshi Nakamoto introduced Bitcoin. Satoshi described it as a €˜peer-to-peer electronic cash system.’ It is completely decentralized, meaning there is no bank in charge. All you need is to create an electronic wallet in the Blockchain website.
Wallet addresses consist of the sender’s and recipient’s public keys for transferring and receiving cryptocurrencies.
The blockchain is a public ledger of all transactions that ever happened within the network, available to everyone. Therefore, everyone in the network can see every account’s balance as well as every transaction.
Whenever a new transaction is opened the transaction is broadcasted in the network, but it needs to be confirmed first and within a Cryptocurrency network, only miners can confirm transactions by solving a cryptographic puzzle.
What can you do with Cryptocurrency?
1. Buy goods – it can be used to purchase to buy goods both online and offline in the local shops
2. Invest – Many people believe that cryptocurrencies are the hottest investment opportunity currently available. Indeed, there are many stories of people becoming millionaires through their Bitcoin investments. Bitcoin (BTC) is the most recognizable digital currency to date, and just in the year, 2016 one BTC was valued at $800. In November 2017, the price of one Bitcoin exceeded $7,000, today as I am talking to you one BTC worth $12,000 Ethereum, perhaps the second most valued Cryptocurrency, has recorded the fastest rise a digital currency ever demonstrated. Since May 2016, its value increased by at least 2,700 percent. When it comes to all cryptocurrencies combined, their market cap soared by more than 10,000 percent since mid-2013.
2. Mining – Miners are the single most important part of any Cryptocurrency network miners provides bookkeeping service for their respective communities. They confirm every transaction and record it in a distributed public ledger called the Blockchain. A lot of people have made fortunes by mining Bitcoins. Back in the days, you could make substantial profits from mining using just your computer, or even a powerful enough laptop. These days, Bitcoin mining can only become profitable if you’re willing to invest in industrial-grade mining hardware. This, of course, incurs huge electricity bills on top of the price of all the necessary equipment.
Types of Cryptocurrency
The most popular cryptocurrencies are BITCOIN, ETHEREUM, and LITCOIN. Bitcoin is the most valuable.
How to Earn from Bitcoin Cryptocurrency
The easiest way to earn much in Cryptocurrency trading is by investing your Bitcoins and other digital currencies with a tested and trusted broker that has experienced traders and miners; I bet you; within the interval of one month, you must have gotten twice or even more of your initial investment/capital because many traders/miners I know, offer thirty to fifty percent payout every week and many even go as far as giving a referral bonus when you invite new investors to their broker.
Bitcoin Cryptocurrency trading Terminology
- Broker: company that mines and trade Cryptocurrency
- Trader: Someone who works under the Broker, He or She mines and trades for the investors.
- Investors: Those that invest in Cryptocurrency