Bitcoin

5 Tips Every New Cryptocurrency Investor Must Know

The fact that the number of investors is growing day by day also speaks of the fact that one can make money on cryptocurrencies. This is supported by the fact that there are currently over 34 million bitcoin wallets, and if we include other currencies, we will reach the magic number 50, ie that over 50 million people in the world enter cryptocurrencies. Still, it’s not enough to just prepare the money to invest and think you’ve done most of the work. On the contrary, if you are a serious investor (and we believe everyone is), you must know a few basic things. Well, let’s start from the beginning.

What is cryptocurrency?

Source:monster.com

Cryptocurrencies are virtual money and exist only in digital form. What makes it different is that it is decentralized, that is there is no central authority. It is difficult to say how many different currencies there are, but it is assumed that the figure is around 1,600. Even those who do not know much about cryptocurrencies have certainly heard of the most famous and most powerful among them – Bitcoin. This currency has seen great growth since 2009 when it was released. However, we should not ignore other, smaller currencies, which can bring solid profits – Ethereum, Litecoin, Ripple, and many others. Transactions must take place via blockchain, which means that there is no third party, and this is exactly what makes the transaction secure.

How can I buy cryptocurrencies and where do I keep them?

Source:telegraph.co.uk

You can buy cryptocurrencies in several ways, in exchange offices, peer-to-peer, and the most popular way is through ATM. This is also the simplest way because all you need to do is swipe your credit card and confirm the transaction. This leads us to the next question, and that is – where to store cryptocurrencies? This money, like any other, is kept in the wallet, but since it is digital money, the wallet must be the same. There are two types of nightgowns, and they are hot and cold. Hot wallets require a constant internet connection, so they are often attacked by hackers. On the other hand, we have a cold wallet, which is hardware-software that does not require access to the Internet, so it is safer. But it requires a constant power supply and that makes it a big consumer, and its price is higher compared to a hot wallet. Still, this is about your money and consider this a smart investment.

How do I start investing?

Source:wealth.visualcapitalist.com

First of all, you need to know that there are two ways to invest in cryptocurrencies, and that is trading and mining. For many people, trading is their preferred option because they can make a profit faster. This is supported by the fact that the value of most cryptocurrencies’ changes from day to day, and there are often several ups and downs in one day. On the other hand, we have mining in which the main role is played by accountants – miners, who dig bitcoins. Mining is a great choice for the patient. Those who opt for this type of investment must know that their chances of earning a significant increase if they join a mining pool.

How do I find the right platform?

You’ve probably already heard that many have been deceived. That is why you must find out about a particular platform before you decide to deposit your money there. All he can do is check the licensing and reviews. There are also differences in the minimum role, which is $ 250 on most platforms. Some platforms allow trading in stocks, which makes them useful to those who already deal with it.

What is certainly important to mention is that there are many trading applications, intended for beginners or people who do not want to sacrifice their free time following the market situation, but leave it to the application which, thanks to artificial intelligence does all the work for them. Namely, studies have shown that thanks to artificial intelligence, these applications detect changes in the market 0.03 seconds before humans, which in this case is more than enough time to make a profit. When choosing, it is important to pay attention to the interface, to make sure that everything is clear and that you will find your way around easily.

Check here: https://btc-newstrader.com/.

Beware of scams

There is a high probability that you will encounter a series of scams when it comes to investing in cryptocurrencies. That is why it is necessary to be very empty and prevent at least what you can. Since it is known that hackers are constantly lurking and that everyone who spends time online is at risk of cybercrime, consider an online broker a safe option, because it works under strict regulations. Another thing that may indicate that something is wrong is that your network has become much slower. The fact that there is no regulation under which the bitcoin operates makes investing uncertain. Still, everything is fine until some currency comes in competition with the Government.

Source:fxempire.com

Final thoughts

Those who are just starting to invest in cryptocurrencies must be told not to allow themselves to be carried away by beginner luck. Another important thing is to pay attention to the minimum stake when choosing a platform, as well as whether the platform offers a bonus because most do. It is also important to know when to stop investing, that is, not to invest more than you are willing to lose. And last but not least, you should always invest in several different currencies, so that in case one loses in value, you do not lose all the money invested.

Follow the situation on the market, because it is constantly evolving and growing. Look at buying a wallet or trading application as a useful investment that will protect your money, and will probably double it very quickly!

7 Things You Can Buy Only With Cryptocurrency

So, here we are – you amassed yourself a small fortune in Bitcoin or any other cryptocurrency but don’t have an idea what to do with it? Don’t sweat over it as we are here to help you with these seven things you can buy only with cryptocurrency.

3D Printed Electric Violin

Source:all3dp.com

Let’s start with the most unconventional item. Even the most prominent music instrument enthusiasts wouldn’t remember this. But here we are. 3Dvarius is open to trading with BTC, and you can purchase one of their products with crypto. The violin you’ll receive is going to be custom made, with four or five strings, engraved just for you. The best model you can have from their collection is a high-end, pretty elegant, electric concert violin. The price set on their website is set at $8,150, which is close to 1.1 BTC.

Golden State Warriors Season Tickets

Source:goldenstateofmind.com

Are you a fan of both the National Basketball Association and cryptocurrencies? If so, then we have good news for you. Golden State Warriors are a franchise ahead of their time, and selling tickets for Bitcoin is something they already adopted. They’re trendy with their high temps shooting the basketball and on the financial market alike. Fans who are into crypto and this sport will be thrilled to hear this news. Season tickets are priced at $7,611, which is close to 1.02 BTC. It’s all up to you to take the crypt 3PT or go with passing cash.

Diamonds & Gold

Source:pymnts.com

As you know, ladies can have only one good friend, and they’re diamonds. But, you can also befriend them with cryptocurrencies. Some jewelry is offering their goods available for purchase with BTC and another crypto. REEDS Jewelers were the first to provide this benefit, and if you cash out $25,000 worth of crypto, you’ll even get it transported to your location with an armored vehicle. This jewelry place offers both diamonds and gold, which can be bought for 1.0 BTC. But, all of this begs the question – what shines more, diamonds and gold or Bitcoin?

Tesla Model X Wheel Package

Source:teslarati.com

You must indeed be a man of trends if you have both Tesla vehicles and are trading cryptocurrencies. Both are trending for a while now, and many people have jumped onto the hype train. So, if your car is ready for a tire change, you know what to do with your saved crypto. You can get yourself an entire set for a mere 0.91BTC or 6,800 in American dollars—fair trade, especially if you got your Bitcoin during one of the spikes.

Rolex Watch

Source:youtube

Time is money is an old saying that holds to this day, and nothing screams time more than a Rolex watch. If you are into Bitcoin trading, you know things can change quickly over a short time. So, you might want to watch time passing by on an expensive luxury watch. Overstock offers already owned Rolex watches on a discount price; in a case, you haven’t yet earned a fortune on cryptocurrencies. Rolex for one BTC or $7,450 doesn’t sound bad now, does it?

Other Cryptocurrency

Most people don’t even think of this. Imagine if you managed to get your hands on plenty of BTC, but at one point, you don’t know how to invest further. One logical option is to look to diversify your portfolio by investing in other cryptocurrencies. Not all of them are recognized as BTC, but money can be made out of them. If you don’t know how or where to start, check out cryptorevolt and similar websites as they’ll provide you with help and information you might need for this endeavor. The desire to invest further in crypto needs to be backed by people who are knowledgeable in the matter on hands.

Gucci Coat

Autumn is almost upon us, and there’s no harm in having a coat. If you want it to be high-end styled, you should aim to make it a Gucci one. Don’t look too far as Farfetch is offering them in exchange for crypto. Buffalo leather or lambskin, you can choose, but twill comes with both pieces. Once you have one at your disposal, you’ll know that this coat is perfect for any and all occasions. All you need to do is to part with almost $8,000 or one Bitcoin; it’s all up to you.

Fly to Space

Source:thesun.co.uk

If you want to make all of your friend’s bucket list look ridiculous, add this feat to yours. Yes, it’s going to cost you a large chunk of your hard-earned cryptocurrency, but traveling to space is on another level, almost on another planet. Work hard to make this dream possible. If you haven’t heard of Virgin Galactic, check them out, as they are one of the companies that offer a space journey in exchange for crypto. Not only that, you’ll get out of our atmosphere, but you’ll also travel a bit around our planet. Now, you need to be quite good at earning and stashing crypto to afford this. The cost is no small fly, as you’ll need $250,000, which translates to 33.6 BTC. Don’t worry, you don’t need to have that amount right now, as they are booked up to 2021, so take your time and earn crypto for this purpose.

Conclusion

As you can see, this list is rather impressive, and with a reason – these things are peculiar and can be bought with cryptocurrencies. If you are a crypto enthusiast but don’t know what to do with your hard-earned fortune, take a good look at our list. There’s a bit for everyone, and you shouldn’t be an exception. Whether it is a Gucci coat, a Rolex watch, or space travel, you have it all. Our goal was to cover different spheres of life and interest of various people. We believe that we succeeded. Please, do tell us if we haven’t. This would mean that our list is going to expand for at least a couple of items.

Is Ethereum Becoming More Important Than Bitcoin – 2020 Guide

It can be said that cryptocurrencies are a perfect example of the statement, what goes up must come down. This is something that repeated a plethora of times since the introduction of Bitcoin back in 2009. In fact, the father of all cryptos is a perfect example of this statement in particular since its worth has come up and down so many times that we can’t even count them all. It came from its initial price of $1 in the beginning to almost $20k in 2018.

Source:personal-financial.com

However, this doesn’t mean that it was all the time. Sometimes, it could happen that its price dropped massively in only one day. This is an example that was followed by all other cryptos. But we can see that some of them are more stable than others. Basically, it all depends on the investments and there is nothing that can change this situation.

One of these cryptos many consider to be much more stable than BTC is Ethereum. This is a crypto that emerged a couple of years after BTC, and it positioned itself as one of the most stable ones of them all. It’s so stable that many online casinos have introduced it right alongside BTC, even though it doesn’t have too many users when compared to other cryptos.

Plus, many people don’t have all the answers to what kind of crypto is this and what are its particularities. If you are interested in finding these answers, be sure to check out crypto-profit.io. We are pretty sure that this is a pretty hot topic since so many people are interested in investing in all the digital currencies. So, let us take a look at the case of Ethereum and its relationship with Bitcoin and others.

The Ethereum Basics

Source:sofi.com

The initial idea behind the creation of Ethereum was to expand on BTC’s capabilities and opportunities. The concept is pretty much the same, but we can see that it introduced some of the additional features into it. Vitalik Buterin is a person credited with the creation of Ethereum. The initial idea was created in 2013, and the first version of this digital currency was introduced to the market two years later, in 2015.

As it is the case with BTC, ETH had the idea of completely avoiding all the financial institutions and banks. Therefore, we can complete the same backstory behind it. ETH has two main purposes in this day and age, it can be traded as all other cryptos on the market, or its network can be used to run different apps on it. This makes it a perfect option for many people who are interested in both of these purposes.

What are the Differences Between These Two?

As we’ve already stated, the concepts of these two are pretty much the same. However, it should be said that the main differences are in technical ways. For example, the transaction made by the Ethereum could have some kind of executable code. Anyone, who had a little bit of experience with BTC knows that there is no such thing with this crypto. Also, ETH has some kind of block time, which heavily depends on the transaction. Also, some algorithms are completely different with this crypto.

Also, the initial idea behind these two digital currencies was completely different. For instance, BTC was made with the idea of completely replacing all of the national and regional currencies. Ethereum’s original purpose was to facilitate programmatic contracts and other types of applications through their own currency. So, we are talking about two cryptocurrencies. But their initial idea was completely different from the start.

The Competitiveness

It should be said that ETH was made for the purpose to support BTC and other cryptos through the blockchain system. So, it makes sense to ask a question, why is competing with it? Well, it should be said that its popularity grew so much that it became obvious that it has so much potential, it would be a complete waste of it not to use it. This became a pretty important question, especially from the perspective of traders and owners of digital currencies. But we can see that they don’t have the same capacities. At the beginning of 2020, BTC’s market cap was almost $150 billion, and ETH’s market cap was much smaller, with only $16 billion.

Is Ethereum a Good Choice for Investment?

Source:nairametrics.com

From this perspective, it is pretty hard to say which one of these two is a better investment. The reason is that both of them have completely different purposes. It depends on what you are looking for in the first place. Also, you can be sure that you need to invest much more into BTC in order to expect proper results. Investing in ETH is a really good and much cheaper option. But we cannot say if this is going to be enough for you to have a proper ROI after some time. With having in mind that BTC is still the dominant force in this market, it’s pretty hard to say.

Both of these choices have their pros and cons. One of the things that will help you determine which one of these two you should choose is to see which one of these two you would like to have in your portfolio. Which one of these two will be considered more impressive after some time? Some people would argue that small miners and investors don’t have a future in BTC since a plethora of large companies has started mining and trading. We cannot be certain what the future will hold for both of these. We will just have to wait and see.

The Verdict

It would be pretty bold to say which one of these two is a better option. Both of these two concepts have their own advantages and disadvantages. As we’ve mentioned before, you need to make this decision based solely on your preferences and needs. Thankfully, there are a lot of materials you can go through and learn many things about these concepts. So, start researching and make your decision based upon that.

4 Things Not to Do When Bitcoin is Going Down

Keeping your eye out on the market is a must if you are dealing with any type of cryptocurrency. The most popular one, Bitcoin, can have its ups and downs. However, you should know how to deal with it and approach the market the right way. There are some rookie mistakes that you may end up making. If you wish to avoid those and learn a thing or two more about Bitcoin, keep on reading! We have some interesting facts for you to discover.

What is BTC’s actual price?

Source:freebitco.in

People refer to its USD price most of the time, but you can also talk about the composite price made from the average of multiple exchanges’ prices. If you are talking about BTC, you are actually looking at its last transaction on a specific exchange that has been made. So, if the Bitcoin on Bitstamp is $10,000 – its last trade was done and closed at $10,000.

What is going on with Bitcoin, and why is its price dropping?

It definitely has its periods. In fact, a year ago, it climbed from $3,000 sometimes around in September to $7,850! However, not too long ago, the price dropped low to $5,600.

If you are still a beginner or a rookie when it comes to Bitcoin, visit bitcoin-freedom.com. They have amazing software that will help you earn money in 0.01 seconds. They will also explain some simple steps and basics that will help with your learning process + you will earn money with ease.

Why does Bitcoin drop?

Source:express.co.uk

Its first and initial drop is not as scary and this dive is normal (it happens). The price can move all over the place and every day. However, you should always question any sudden changes, and see if there is a specific reason or meaning.

Top 4 key facts to consider

  1. The fall in November

The drastic fall that has happened in mid-November came after a specific event. This change has happened because of a group of miners. However, Segwit2x tried to create a newer form of BTC for larger blocks.

Unfortunately, the plan failed and loads of people have moved their money to Bitcoin Cash, which made Bitcoin Cash double its value in less than 24 hours. So, always keep your eyes & ears wide open! Read some forums, blogs, and stay on-trend when it comes to BTC, as well as its everyday gossip.

Source:news.bitcoin.com
  1. Never try to catch the exact bottom

When making your profit with BTC, know when to stop. You should let only some of your investment capital as the market takes a tumble. Never go all in. If there is a large dip in the market and you start at a coins chart, you never know when it can stop. What you should do is know how to stop and when not to catch the bottom (enter into a trade that is at the bottom of a trend). Know when to stop, since constant bottom chases mean that you are going to miss out on trades, which will further lead to no profit. Do not gamble, and don’t lose it all.

  1. Don’t sell your coins for ones that are going up

People often sell their coins of a downtrend, only to see if things will reverse and start going upwards. For instance, you can buy something for 0.25 cents. You have already done your diligence, studied, and spent a lot of time on the chart (one char in specific). You probably haven’t even tried to catch the bottom since it is a time-consuming process. After some time passes, you are still at your 0.25 cents, and then these cents will tumble down to 0.20 cents. At this point, you might want to sell your coins and make any type of profit since this is a tricky & long mind game. However, BTC can skyrocket (you never know when) and you might regret your decision since you could have tripled your earnings.

If you have already done your studying, you know everything about the money that you’re working with, and you know that there is a chance for the market to change, stay persistent & wait it out. Don’t lose it under the pressure, and rather give it a fair shot.

Source:dmarge.com
  1. Don’t spend your entire day staring at the chart

Try not to spend your entire morning, day & evening staring at the chart. It won’t change just by you looking at it. Most of your hours are probably going to be wasted. Do not just monitor your work and stay passive, but do take action! What you should do is set yourself a limit-order, and simply walk away once it is the right time. Be smart with your money, your spare time, as well as your screen time.

Remember that profit only begins with the right strategy, and if you don’t have it, you are gambling with your money!

But why does the price fluctuate as much?

Bitcoin’s price is volatile. This means that you can see its movements from 5-10% in a single day, which makes its tracking hard to do. Why is this happening? Well, Bitcoin’s market cap is still quite small, and it is still a newer market to work with. If the market cap has as little assets, the more volatile it will be.

When Bitcoin’s price increases you will notice a change (gradual change) in the market cap.

Ready to make money & avoid some mistakes?

So, how do you feel about cryptocurrencies and your money-making skills now? Are you ready to dive into the world of Bitcoin? Simply follow these crucial rules, and avoid doing and making some rookie mistakes. Everyone can profit with Bitcoin, as long as you know when to stop + if you have patience. Having a mind of steel is important since only people who can wait it out and wait for its peak will make money, and will profit in the long run!

3 Reasons Why Bitcoin Price Could Crash in 2020

Three weeks ago, Bitcoin climbed to over $12,000 only to crash in a matter of minutes for $1,500. Investors got chills from such a huge plunge in a short time, and many are now questioning whether or not Bitcoin is able to maintain its value, or if the crash is inevitable. While the coin was taking a dive, 72,000 people decided to quickly sell their Bitcoins which brought down market capitalization from $214 billion to $208 billion. This may not seem like a big deal to ordinary folks who have no investments in digital currency, but in the currency exchange market circles, this is all investors talk about. Bitcoin seems to be justifying the suspicions that followed it from the first day, and now many are in doubt whether to keep the coins or cut their losses and run.

Source:forbes.com

Safer alternatives

This is a second hit for Bitcoin since the beginning of the pandemic back in March when it crashed to a value of a little over $4,000 for 1BTC. The currency is still standing and despite everything, is looking good with the little change for the past couple of weeks, but the traders are not so convinced. Many are questioning their decision to buy coins instead of gold which gained over 15% in value in the past few months.

Speculators are already rumoring that Bitcoin should be converted into more stable assets, with gold topping their choices. However, there have been some good predictions about Bitcoin circulating, like PayPal offering payments to its users in BTC, and Bloomberg suggesting that the coin could hit a $14,000 mark by the end of the year. Still, others seem to be scared of to further invest in an unstable currency and are looking for other sources and potential stakes.

In the last couple of years, investors have been at odds whether to keep Bitcoin or sell and invest in something else, namely gold. The price of gold spiked recently, mostly due to the banks stocking up on the assets, and being cautious since Federal Reserve started printing a lot of money to minimize the pandemic crisis. Will the gold manage to keep the trend of rising or is it just a temporary thing, only time will tell. In the meantime, speculators are buzzing about the weakened American dollar pointing out that it’s the best time to make gold reserves.

Source:express.co.uk

Domino effect

Major banks are suggesting that the market is about to crash which can pull down cryptocurrencies among other markets. One of the main reasons why Bitcoin is maintaining stability and value to some degree is the demand from Chinese investors through Tether. Tether is a US dollar-backed coin that was highly controversial since the creators claimed that every coin is backed by $1. In 2019 this all blew up and the Tether developers admitted that the coin actually was backed up by US dollar and loans. This “loan” part made it unstable and undesirable among investors. So, back to the Bitcoin. Currently, its value is closely dependent on the demand, if any, from the Chinese traders. If they decide at any point to move their investments into hedge funds, Bitcoin might lose the legs it’s standing on, and go down with the rest of the companies on the market.

Billionaires and some millionaires on the Wall St are wary of further investments until the markets are stable again. Many companies are struggling to remain liquid while the pandemic is still in effect. Big players on the New York stock exchange were not favoring Bitcoin even before the coronavirus crisis started saying that the currency that is backed by thin air is doomed. Today, investors are backing out of deals that they otherwise would not, and investing in cryptocurrencies right now is not even an issue. Truth be told, major investors are not thinking about investing in anything right now, but rather are just looking for ways to strengthen their hedge.

International Monetary Fund issued a statement saying that no one can predict with a decent amount of certainty how exactly pandemic is going to influence the markets. Uncertainty is not a friend to the investors and traders, and they tend to stay away from spending on fluctuating investments like Bitcoin. Pandemic completely disrupted trading, and no one can predict how it’s going to behave in the months to come. Because of this high net worth investors are laying low, trying to save their investments, and not making new ones. This could bring a market to a standstill and eventually crashing. When Federal Reserve started injecting more money into the economy to cover for all stimulus checks to boost consumerism and revive job markets, it sent the signal to banks and investment funds that the markets are in dire straits. This made investors put the hold on all investments and hold on to see new developments.

Influence of the stock markets

Source:investopedia.com

In the past year, every time Bitcoin came close to breaking an all-time high of $10,500 it suddenly dropped for a few thousand. This is a vicious cycle that keeps repeating itself. Even though Bitcoin is not backed by any asset, and is not controlled by any government, the stock markets do impact its value. Bitcoin is all about being not influenced by the movements of the traditional markets, but somehow it gets dragged under every time stock exchanges go under. So, we can determine that Bitcoin is not tied up to anything, but it is affected by the value swings of the stocks.

Will Bitcoin crash along with stock exchange? No one knows for sure. If you decide to invest in the current environment you should be more careful than usual. Stock exchanges around the world are struggling to keep moving, but the reality is that the major economies are on their knees. Maybe Bitcoin will survive one more crisis as it did before in the past, although many predict that it will be pulled down along with other stocks. In any case, do your research and get more information at https://infinitytrader.app/ before you make any moves that can cost you dearly.

Learn the Basics of Bitcoin Mining

Many have probably heard or read about the expression “bitcoin mining” people have been talking about intensively for the past 3-4 years. Before learning the basics of bitcoin mining, let’s explain the expression itself and why is it so popular.

Bitcoin stands for a digital currency that has all the characteristics of a regular financial currency we use everywhere in the world, and mining refers to the activity or a process of confirming the transactions that wait to be included in the blockchain technology.

Source:expresscomputer.in

The key goal of having this kind or this version of electronic money is to enable you to perform direct online payments without the mediation of a financial institution (without a central bank or a central administrator). If you consider all the mediators involved in the process of transacting money from one country to another, all the commissions charged by the mediators, not to mention having to convert money to the local currency and the transaction time needed, using cryptocurrencies sounds like a much affordable solution. All the transactions in the bitcoin network are being recorded in the so-called blockchain. It is sort of a database (a public list of all the transactions) maintained and updated by thousands of miners across the globe. Even though all the transactions are anonymous, they are however publicly available for everyone to see.

So, how does one learn the basics of mining?

Bitcoin is being produced (made) by a computer that participates and manages an already mentioned (blockchain) public database. The computer is being awarded one bitcoin for each successful transaction that adds a new block to the blockchain. This process is called the mining process, where mining is done by computers.  It is important to understand that the reward never goes to one person because no one in the world has enough computer power to solve a complex mathematic problem (operation) needed for a successful block. This is the reason miners network into mining pools to group their computer power and proportionally share the reward. The more miners, the secure the network, but the harder the mining.

One fact that arises from this is that human activity is not required for the mining itself. A logical question that would follow is – then is it required in the trading of the bitcoins? The answer, believe it or not, is no. By this moment in time, there are numerous software, robots, trade platforms for analyzing algorithms, initiating, and analyzing trades, without having to spend valuable time searching for buyers yourself. One such software can be found at q-profit-system.com.

Investing a good software is always a smart solution, especially if you are new in this cryptocurrency market and you want to make sure you stay on the right track. In any case, hiring a broker will maximize profit with bitcoins.

Source:coinrevolution.com

However, if you have decided to mine, there are also a couple of more things to learn about.

Hash rate – is the number of operations your hardware can perform in a second when trying to break the mathematical problem. It is measured in megahash, gigahash and terahash. The higher the rate the more are the chances of successful mining. Calculate your energy spending to avoid surprises– the computer, logically, operates on electrical energy, which of course costs money. Ideally, you want to use the hardware that will not spend more energy than you will earn by mining. Then, choose how you will perform mining: GPU, FPGA, ASIC.

  1. CPU/GPA – the weakest of three options. Theoretically, you can use your computers’ CPU for mining, but in practice, it is very slow and makes no sense in today’s market. You could increase the hash rate by adding GPU chips (contained by graphic hardware), but you also should be ready to invest a bit more money.
  2. FPGA (Field Programmable Gate Array) is an integrated electric circuit that enables mining hardware producers to buy chips and put together the equipment themselves. It gives better results than the CPU/GPU.
  3. ASIC bitcoin mining (Application Specific Integrated Circuit) is specifically designed to do only one thing: mine for bitcoins with exceptional speed and relatively low energy spending. They are quite expensive and manufacturing them takes quite some time.

Pool – when you have considered everything and procured the equipment, you can start mining. But keep in mind, you will have more success if your network/joins a pool of other miners.

Certain companies offer mining services, so if you want to invest in cryptocurrency, but do not wish to go through all the trouble of buying and installing the hardware, calculating electricity spending and all the other things mentioned in the text above, then “cloudhashing” is your option. You buy the finalized product, a whole mining package, by choosing the hash rate speed. All the other technical things are provided by the company (electricity, hardware, maintenance, networking in the mine pools, etc.)

Once you have mined and managed to get a bitcoin, you should have a safe place for keeping it. Symbolically, these places are called the wallets. What they do is keeping your private keys which you use to access your assets. Wallets come in different versions, depending on the device (desktop, mobile, web, hardware wallets).

There are numerous bitcoin mining courses available online, for everyone who plans to start mining. The content usually includes lectures for gaining basic knowledge on bitcoins, tips on what to do and what not to do, steps you need to undertake before starting the mining, etc.

Lots of video material explaining is also available for free, on different websites, where people shared their experiences on how to mine.

You could say that this kind of currency belongs to the people. Bitcoin is an open code system, owned by no one, but where anyone can take part in its development. It is a currency not limited by state borders. More important, no government in the world controls it. So, this is what makes it so tempting.

Source:starofmysore.com

One thing is for sure, the world is turning more digital every day, and bitcoins have a very interesting role in this. Is it the new version of gold? Get ready to jump on the train and find out.

Top 9 Interesting Facts on Mining Cryptocurrencies

Are you into cryptocurrencies or Bitcoin in particular? Maybe you are slowly getting into this world? It doesn’t really matter if you are a pro or a beginner, this article is for everyone! In fact, right here we will discuss and explain some interesting and unique facts that you probably didn’t know of. Keep on reading and find out a bit more and enjoy these 9 facts regarding mining cryptocurrencies!

1. The ”real” father and founder of cryptocurrencies

Source:thefintechtimes.com

Bitcoin is known as the very first cryptocurrency, and it is the most talked-about cryptocurrency in the world, wouldn’t you agree? However, the history of money based on cryptography goes back to times way before Bitcoin! In fact, DigiCash is the ancestor of Bitcoin, although without blockchain.

Because of that, it didn’t jump to mainstream use and it wasn’t as talked about, ever. Its creation dates back to the early 90s. It was founded by a young American crypto enthusiast David Chaum. He wanted the transactions to be anonymous, and it wasn’t controlled by any government financial bodies.

2. The first-ever Bitcoin transaction was for pizzas

Source:thefintechtimes.com

Are you a pizza lover? If so, you will find this fact super funny! The first-ever transaction was for two pizzas that were bought for 10 000 BTC. This happened in 2010, and once converted to real money, this was around 25 USD back in that time. Currently, Bitcoin is worth 6 500 USD, which means that these two slices would have been 65 million USD! Laszlo (the pizza lover), has significantly overpaid his two slices. It is one of the most talked-about topics online, on some forums, as well as among Bitcoin & cryptocurrency fanatics!

3. The first-ever BTC faucet gave away 5 BTC per one user

This may sound a bit shocking, but this has happened in 2010. The creator of the website called Gavin Andersen allowed each user to receive 5 Bitcoins as creating the account. This way the creator was promoting his site, his game, as well as the crypto value itself. Nowadays there is a huge gap and everything is different with faucets. For instance, a site called Bonus Bitcoin allows you to claim 5000 Satoshis every 15 minutes. Once converted to dollars, this is about 0,3$, depending on the current Bitcoin price. You will get around 5-10 Satoshis for free on most sites, which is quite little nowadays.

4. There are other even smaller units

Most people worldwide believe and feel as if Satoshi is the smallest unit since it is considered as almost nothing. Bitcoin is divided into 8 zeros after the decimal point, as you probably know it by now? However, this doesn’t mean that you can’t divide Satoshi as well. Once you do the math and the equation, you will get a unit called Millisatoshi, which equals one-thousandth of Satoshi.

5. The bitcoin wallet

Source:blog.bitnovo.com

Did you know that there are Bitcoin wallet private keys? Well, they are integers from 1 to 10 to the power of 77. If you were to guess a private key of a BTC wallet, you would have to spend years exploring it. You would have to have a lot of computing power. These mathematical equations are something that others haven’t witnessed just yet. If you are a crypto user and you want a crypto wallet, just know that it is a bulletproof solution, literally!

6. At one point, there have been 184 billions of BTC

You are well-aware of the Bitcoin blocks, right? Well, a block number 74 638 has had a unique error a few years back. This led to the creation of a huge number of new BTC coins, over 180 billion of them! However and in only 5 hours, experts were able to create a new version of Bitcoin called 0.3.10. Because of this glitch, a huge amount of Bitcoin was ignored, but people have accepted the change.

Source:pikist.com

7. No one knows about the real and true inventor of Bitcoin

The most popular cryptocurrency in the world doesn’t have its rightful owner written next to its name! Was it one person, persons, or an entire organization? We still don’t know, even to this day! Thus far a lot of people have stepped up and have tried to claim Bitcoin. However, none of them were credible and you couldn’t believe their statements. People believe that a creator of bitcoin is Satoshi Nakamoto, hence the name Satoshi’s (read the fun fact number four). However, another popular belief is that it is an acronym for some larger names & tech giants, such as Samsung- Toshiba-Nakamichi-Motorola.

8. Bitcoin has been banned, is your country still on the list?

Did you know that some countries can ban cryptocurrencies completely? Although this can be quite hard to do & determine whether if it is the right move to do, the following countries have made the call:

  • Algeria
  • Bolivia
  • Ecuador
  • Nepal
  • Bangladesh
  • Cambodia

9. Cryptocurrencies will do more good than harm

Source:unbank.mobi

Think about eCommerce, and embrace cryptocurrencies! Internet connectivity is available in third world countries, which is great. On the other hand, opening a bank account over there can get difficult. Bitcoin and similar currencies will help eCommerce reach a lot of people in the world. Cryptocurrencies are great as a payment tool, and they can come in handy – no matter where you are in the world (as long as if it is not one of the previously mentioned six countries).

Want to give it a try?

So, what do you think of these top 9 facts? Did you know some of them already? Or maybe you know something that we don’t, so care to share in the comments down below?! Either way it is, everyone can fall in love with Bitcoin and the world of cryptocurrencies. If you want to know a bit more about them as well as the trading check, give https://profit-secret.com/ a click! They have answers to some of your most-asked questions.

8 Reasons why Bitcoin is Better than the Dollar

Bitcoin has been changing the world for the better ever since it appeared on the market more than 10 years ago. The leader of the digital currency has had many ups and downs over the years, but overall it has proved quite beneficial for everyone involved. Following its meteoric rise in value at the end of 2017, many saw how quickly they could become successful investors and joined in on the virtual currency fun. However, many still wonder what Bitcoin truly is, and what makes it better and easier to invest in when compared to the US dollar. In this article, we aim to give you the reasons why Bitcoin is better than the dollar and convince you to give it a shot as soon as possible.

1. Freedom

Bitcoin works differently than the US dollars in its very core. You probably heard of the term decentralized, which means that the users of Bitcoin are free to do whatever they want with their Bitcoin without any intermediaries. Nobody controls your decisions, there are no banks and governments, and therefore no penalties, laws, or fees. Bitcoin allows a cheaper, faster, and more secure way of doing business and investing, far from the eyes of the banks. The owner is the only one in charge of their BTC amount.

2. Easy Online Shopping

Source:bitcoin.eu

Bitcoin does not have a physical form. Everything exists online, from the moment you make it, to the moment you trade it. Bitcoins are stored, withdrawn, and deposited into and from e-wallets. The blockchain technology is at the source of how Bitcoin works. Due to this amazing feature, it is easy to spend BTC online, as well as some shops around the world that accept it as payment.

3. Less Volatility

While it is infamous for its spikes in value, Bitcoin is still less volatile than traditional cash. This makes it an easy choice for investment. What is more, it is easy to start investing as you simply need to acquire some BTC to be able to make more money.

4. Tracking

Source:loopslu.com

It is virtually impossible to track the amount of the ways in which cash moves around the world. Once there is a need to print more cash, the governments, banks, and treasuries can do it. However, this decreases the value of money leading to inflation. The US dollar is now worth much less than years ago, and you can do significantly less with $1,000 than a few decades ago. With Bitcoin, there is a finite amount of it that exists. Thanks to the already mentioned blockchain technology, millions of computers are joined together through a vast network that uses cryptography to record Bitcoin transactions around the world, creating a public record of all BTC movement. This transparency and trust between the people who trade in BTC can never be achieved with something so controlled and governed as the US dollar. For this and many other reasons, the banks are not very happy with the world turning more and more to cryptocurrency.

5. Investment

Bitcoin is now a common way of doing business in the modern, technologically advanced world. Most countries have introduced BTMs where you can do all things ATMs allow, but with Bitcoin. Dozens of shopkeepers make it easy for customers to spend BTC for their services and products, joining in on the fast-spreading craze that is cryptocurrency. All of this opens many doors for investors looking to multiply their wealth. There is no conversion, and if basically combines the best sides of gold and cash with an open, restriction-less market.

Source:coindesk.com

6. Security

Bitcoin works exclusively through peer-to-peer connections. It is as open as it can be, fully secure, transparent, and frictionless. No third parties stand between you and another person on the other end of the transaction or trade. Private keys that BTC users have are solely theirs, and they allow them and nobody else access to their balance.

7. No Returns

Bitcoin is great for maintaining records, that much has already been mentioned. However, once a transaction has taken place, the ownership of the amount in question also transfers from one user onto the other. What this means is that two people exchange a set amount and nothing else, making record keeping and taxes easier to follow and healthier overall. There is no possible way of fraud like with cash, where one amount can be said to be in one place but never get there.

8. Transition and Access

Source:independent.co.uk

While there are almost as many currencies in the world as there are countries, there is only one Bitcoin or one of the other digital currencies. They can be used in exactly the same way in all corners of the world without nation or bank boundaries. Every transaction is seamless, and each one has a clean record behind it. No matter how geographically different and far two people are, they can easily do business with Bitcoin without third parties or exchange values.

Closing Remarks

If you were hesitant to try a digital cryptocurrency and finally realize what makes it so special, we believe these eight reasons can make you see why Bitcoin is a much better option for someone looking to invest in 2020. While fiat currencies like the US dollar still have immense value in the contemporary world, it is only a matter of time before Bitcoin and its cousins completely take over and once and for all bring us into a cashless world. Bitcoin is simply more trustworthy, secure, and easier to use and invest, which is more than enough in the world where people are looking for equality and transparency from corruption and deceit. Traditional currencies are bound to become a thing of the past sooner rather than later, so make yourself ready by acquiring Bitcoin while it is still in its infancy. The past ten years of its life are nothing compared to what is coming in the future! Visit https://crypto-gps.com to learn more about the most popular cryptocurrency and start investing today.

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