The trend in the price of bitcoins, in fact, is conditioned by a series of external elements starting from the so-called market movers. Although detached from a monetary policy in the strict sense, it is obvious that certain factors influence the trend of bitcoins.
The method we have described for making money with bitcoins is the one that comes from a speculative approach. In addition to this operational path, there are others that fall more in a bitcoin supporter’s perspective.
How Bitcoins Work: Earn Bitcoins by Mining
Mining is a way in which bitcoin earned in the traditional way. For those interested in this cryptocurrency, earning bitcoin by mimicking can become a real profession. But how do you mine bitcoins? To answer this question it is necessary to pass from a purely financial language to a more technological one. You can buy and sell the bitcoin with bitcoin trading.
To mine bitcoins you need to find the right firepower to open the safe where the secret behind the virtual currency is contained. Technically it is a question of attacking with the brute force technique a battery of data that is protected by encryption based on the SHA-256 algorithm. The operation is, in theory, easy and within everyone’s reach. In reality, mining bitcoin is not for everyone and it is not easy either. In fact, such a high firepower is needed that traditional computers often cannot guarantee. Where computers are capable of guaranteeing this power, this could happen at a very high energy cost.
Therefore, gaining bitcoin by undermining can mean destroying your computer (and therefore failing) or consuming so much energy as to frustrate the gain of bitcoin. It is for this reason that many prefer to earn bitcoins without undermining.
Pay close attention to all those ads that promise methods to earn bitcoins quickly and without undermining. If you know how bitcoins work, you will certainly know that they could be scams. In addition, very often all this should also happen for free. Let’s make it clear that there is no single way to earn bitcoins for free, but there are many small tips and tricks instead.
There are at least four ways to earn bitcoins without mining:
Pay Per Action (PPA): the customer is paid in bitcoin to carry out an action that can present the most disparate characteristics. It is in fact possible to earn bitcoins for free by registering or downloading.
Pay per Play (PPP): the customer is paid in bitcoin to play online.
Paid To Click (PTC): the customer is paid in bitcoin to view advertising banners.
Faucet (or taps): the customer is paid in thousandths of BTC to find the solution to simple captcha.
It doesn’t take the crystal ball to understand that these ways to earn bitcoins without mining are decidedly improvised and unsafe. For this reason, if the goal is to participate in the bitcoin system then it is better to follow the official channels.
Paying and receiving bitcoins can undoubtedly be an advantage. In fact, it is not only private individuals but also many companies that operate through this virtual currency. Usually, bitcoin payments are chosen by companies that are mainly active online. However the phenomenon is expanding, it should always be taken into consideration that those who experience bitcoin payments represent a minority share of the total.
The success of bitcoin must be analyzed above all from the point of view of investments. In other words, many buy and sell bitcoins in the hope of making a profit. This category of discourses on money without central authority and on alternative currency is of little interest.
How to invest in bitcoin?
Like all types of investments, bitcoin does not fall outside the rule that there is no zero risk investment. If you choose to play with bitcoins, therefore, you must take into account the possibility of losing all your capital. Let’s assume that you are aware of this risk that you decide to play with cryptocurrency anyway. The first question that has arisen is how to invest in bitcoin. Usually, in the case of shares or government bonds, the answer to this question is trivial and obvious.