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How to Earn Bitcoins

bitcoin

How to earn bitcoins

Intro:

Every one is now obsessed with owing a bitcoin. Because its value has increased exponentially in very short span of time. The value of Bitcoin used to have around $10 and now it is around $15000. If you have bought 10 bitcoins in 2010 for $10, now you would be having around $150k.

There are huge swings in the price of Bitcoin. One day it might be at $10k and in the next week it might be sitting at $20k. There is a bigger risk and bigger reward for bitcoin. Since, everyone is talking about crypto currencies and its huge growth, a lot of people wanted to own bitcoins for its exponential growth.

Here is the price chart of the bitcoin for the past year.

It started with $10 and now it is sitting $13,000 at the time of writing this article. Some people are thinking that it will hit $50k by the end of the year 2018. Some people think that it will fall eventually. Whatever the case, every business has its upsides and downsides, right now crypto is booming. And bitcoin has made many people millionaires.

So, if you want to own few bitcoins despite of the risk associated with it, here is how to buy bitcoins or how to earn bitcoins.

  • Bitcoin Mining

Since, bitcoin has huge value, you can’t simply earn few bitcoins. The #1 way to earn bitcoins is through bitcoin mining. For many newbies, they don’t have any idea what is bitcoin mining. Bitcoin mining is simply authorizing bitcoin transactions between two bitcoin users. For authorizing their transactions you will get a reward in bitcoins. But, hey wait, its not that simple. You might be thinking that i can easily authorize 100 transactions and earn 100 bitcoins. You need to be authorizing million transactions in order to earn few penny bitcoins.

But how to authorize more transactions? How can you do that? The answer is, there are some special devices which can do the mining and earn bitcoins for you. But they are not cheap, you can buy bitcoin miners online and earn bitconis. Those devices are called Antminer D3 . All you need to do is buy those Antminers and enter your bitcoin wallet address and connect to the internet. They will mine the transactions and earn bitcoins for you in your wallet.

Antminer’s are not cheap, but when considering the value of the bitcoin, its worth the investment. You also need to consider your electricity charges. If you can get electricity for cheap, then you can earn more from mining.

Since, in china there are a lot of established bitcoin miners already, there will be huge competition for it. What is competition in Bitcoin mining? If the number of people who are mining the bitcoin increases, the difficulty level for solving a block of transactions also increases, there by it reduces the number of bitcoins you earn for mining. Either you need powerful mining devices or have more devices like that and with less electricity. Then you will be able to solve more transactions and earn more.

Here is how the antminer looks like:

 

For many people it looks expensive to buy an Antminer. Bitcoin mining is expensive and should be bought by people who have some decent money to invest in it.

If you want some other ways where you can earn bitcoins with less investment. Here is one..

  • Bitcoin Trading:

Currently bitcoin’s price is $13,000. If you think it will go even more high or if its value will decrease, then you can do Bitcoin trading where you can buy and sell bitcoins and you can earn bitcoins (money) by buying or selling bitcoins. What most people will do is buy at lower price and sell at higher price. So how to do this?

There are some trading websites where you can buy and sell bitcoins and make money. You can sign up here for trading bitcoin. If you are pretty newbie and don’t know the basics. Here is how to do that.

  • Sign up here at this website where you can buy and sell bitcoin.
  • If you want to start with small say, $200. Deposit that money into your account once you register an account with them.
  • After that, head over to Bitcoin daily chart. You can find one here 
  • If you think the price of the bitcoin is very high, then you can sell the bitcoin at that price. If the price of the bitcoin goes below that price, you will make money.
  • Similarly, if the price of the bitcoin goes beyond the current price, you can earn money.
  • So, there is no limitation of how much you can earn from it, as it all depends on the amount you are willing to risk.
  • Also, if your prediction goes wrong, you will lose your money.
  • All trading involves risks. So, invest only the amount you are willing to lose.

PS: This is not an investment advice.

If you want more information on how to buy or sell or mine bitcoin. Feel free to drop a comment below.

 

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