The days of active accumulation of Bitcoin are long gone, and today this digital currency is quite difficult to mine. But all this does not mean that ways of earning Bitcoins have lost their relevance. The infrastructure of the peer-to-peer payment system is expanding and this can be observed both on the Internet and in the terrestrial space.
ATMs with Bitcoin appear in different countries, the number of stores that accept this currency is increasing, and in a number of American companies, employees receive their salaries in Bitcoin. All this allows us to conclude that in the foreseeable future, the relevance of virtual cash will increase, and it will replace, if not completely, then to a large extent, fiduciary banknotes and coins so familiar to many.
Those network users who are interested and want to test the payment system in action, first of all, need to familiarize themselves with the general information about Bitcoin. After that, you can go directly to earning Bitcoins on the Internet, because people are most often interested in the practical side of this issue.
To receive the cherished coins, you need to have an electronic wallet. A wallet on any modern gadget can be used as storage, as well as a third-party online service. Even hardware wallets have been developed, which look like standard memory chips and rarely surpass in size car alarm key fobs.
It is believed that cloud services do not guarantee the safety of storing funds, especially when it comes to large amounts. Therefore, many people download a special application and install it directly on the device. The program is selected taking into account the operating system. It is worth emphasizing that creating a wallet will take a long time and require a lot of disk space. The duration of synchronization can be explained by the fact that when the stationary wallet is loaded, the transaction history is copied, starting from the very first operation carried out by the very founder of the peer-to-peer system and the cryptocurrency of the same name, Satoshi Nakamoto, back in 2009.
Most people are interested in the question of whether it is realistic to make money on Bitcoins, and most often without investments? The answer will be in the affirmative, but in order to figure it out, you should familiarize yourself with the main types of cryptocurrency mining.
There are several key ways to get Bitcoins. To them, in addition to the well-known mining, as well as cloud and solo mining, which are considered classical methods, in the process of the evolution of the cryptocurrency, new types of its earnings and augmentation of Bitcoin savings have appeared, which include:
Long-term investment in cryptocurrency.
Short-term investment of Bitcoins at favorable interest rates.
Receiving income through exchange transactions.
Bitcoins distribution gateways.
These days, this activity is classified as highly competitive. The relevance of extracting currency in this way can only be considered when it comes to long-term work. You should also be aware that mining is constantly becoming more complicated and it is not possible to achieve tangible success without certain and sometimes very significant investments. After all, the emission of Bitcoins is limited by the program code and the last crypto-coin will have a serial number of 21 million.
Mining is the creation of virtual cash using the computing power of machines. The number of miners increases every year, which leads to an increase in the complexity of the formation of currency blocks, which means that more powerful units are required. Therefore, in this way, you will not be able to earn Bitcoin for free. The user will need to invest in special devices known as ASICs.
It can be noted that to create the first Bitcoins, there was enough power of x86-based processors, that is, its version installed on an ordinary stationary computer. After some time, miners switched to video cards, and since 2012, ASICs have been used, the power of which has increased several thousand times. But even despite this, the net profit of miners fell several times. This drop was especially noticeable in the summer of 2016, when the reward for creating a new block decreased by 2 times. Now it is only 12.5 virtual coins.
Today ASIC devices are produced in different countries. The cost of the car depends on the manufacturer and averages $ 1,500. Although, the price for some models reaches 7 thousand dollars. Despite the need for investment, this type of earning Bitcoins on the Internet does not lose its relevance today, because the value of Bitcoin is growing steadily.
It is believed that mining cryptocurrency using this method pays off within a few months. At the same time, the miner is risking his investment as the complexity may increase. But the greatest danger is the fall in the exchange rate, which is rather difficult to predict.
This way of earning Bitcoins works on the same principle as traditional mining. The difference is that the user does not need to buy expensive computing power, it is enough to rent it. After registering on the exchange, the client will be able to remotely control the machine.
If we talk about the advantages, then this method requires less investment. Plus, cloud mining eliminates the need for device maintenance and electricity bill payment.
But it is worth considering the risks of cloud mining, especially since the currency circulation market is not regulated at the legislative level. The desire of people to earn Bitcoin for free often leads to the fact that they turn to scammers for services. The risk of losing funds is quite high. Therefore, it is necessary to be especially careful when choosing a company. It is also necessary to take into account the fact that the organization can go bankrupt.
With this method, you can multiply your capital by several tens and even hundreds of times. But there is also a high probability of being left in the negative. This is not about mining Bitcoins, but buying them for the purpose of further resale. For example, in November 2012, 1 Bitcoin was worth just over $ 11. A year later, the price jumped to $ 1,132. After receiving such information, the answer to the question of whether it is realistic to make money on Bitcoins does not need answers. It was enough to purchase 100 crypto coins in 2012 (or a little earlier) for $ 1,100, and then sell them at a price of $ 113,200.
But this method of improving the material condition cannot be called stable. Moreover, it is extremely difficult to predict the cryptocurrency rate. Bitcoin is a deflationary currency. That is, it must become more expensive. In general, he demonstrates such indicators. But if you look at the graph, you can see significant leaps. Therefore, earning Bitcoins on the Internet in this way is more like a lottery. However, in the hands of a skilled trader, each digital coin can become a source of real material income.
The value of Bitcoin is constantly changing. High volatility makes it an excellent financial instrument for profitable currency speculation. As a rule, during stability, the dollar-Bitcoin exchange rate changes slightly. But at a time when a huge amount of virtual cash enters the market or during large purchases, there are significant fluctuations, reaching several hundred dollars. Of course, most people are just passive hesitation watchers. But on the other hand, they have the opportunity to earn Bitcoin practically for free, namely, on the difference in rates. Most often, along with the fall or rise in the Bitcoin exchange rate, fluctuations in other currencies are observed. You can track rate changes on specialized resources, for example, bitcoinwisdom. Beginners can be recommended to start activities in this direction with small amounts.
Long before the advent of cryptocurrencies, special online platforms that made it possible to issue short-term micro-loans gained popularity on the web. Today, there are many analogues that can be used to issue Bitcoin loans. The popularity of online usury, as well as the number of resources in this direction, is growing every day.
To get a closer look at the most popular cryptocurrency, you can visit portals that are engaged in free distribution of Bitcoins. You can also get virtual money through games. In fact, such methods of earning Bitcoins are rather for informational purposes, since we are talking about the minimum amounts. For example, the FreeBitcoin service gives out free satoshi in the amount of 0.000003 Bitcoins hourly, and the monthly earnings are about $ 2-3.
There are more than enough ways to get Bitcoin currency in order to receive a stable income and combine business with pleasure. Moreover, collecting can be done in parallel with the main work. As practice shows, with a competent investment of funds, the amount of profit can reach 1000%. But such cases are an exception. Most often, cryptocurrency becomes a tool for stable earnings on exchangers. Therefore, you can rest assured that it is quite possible to make money on Bitcoins, the main thing is to find a suitable way and develop a successful strategy, the unquestioning observance of all points of which is a prerequisite for success.