Bitcoin is widely popular today. What is bitcoin? It is digital wallet’ app on a smartphone or even in your computer with protection and privacy. Digital wallet is the same as the wallet that we carry around, but with digital currency. People from anywhere can send Bitcoins to your digital wallet which is positioned anywhere, and you can send Bitcoins to other people in return too. All these bitcoin transactions are recorded which is called the blockchain, which is actually a public list. As bitcoins are stored in the digital wallet, we can say this is a type of digital currency. This was introduced in the year 2009 and still it is gaining popularity in the world. Some companies have modernized their payment options by adding a special category of bitcoin payment, so that people can buy or sell items and give bitcoin as their payment. Many developed countries have legally accepted bitcoins and its flow and some countries are still in the emerging market. This is the most innovative payment method released till today.
Converting Bitcoin to Cash
This will be the answer everyone familiar or using the bitcoins wants to know. You can easily sell your saved bitcoins on a cryptocurrency exchange, such as Coinbase or Kraken. This will result in the process of withdrawing the resulting cash regarding the value of the bitcoin and crediting it directly to your bank account. On 10th June 2020,
1 bitcoin =7, 36,997.34 Indian Rupee. You can earn bitcoins in many methods- Earning with a Crypto Interest Account, getting Cash-Back in Bitcoin When You Shop Online in online ecommerce sites, earning with Affiliate Marketing which is the current trend in marketing, earning by trading and mining etc. The original Bitcoin lifestyle gives more information about bitcoin.
Making Money with Bitcoin
The most famous techniques proved to make money using bitcoins are as follows:
● Bitcoin Mining
As the name suggests, this is just the digging of bitcoins extra to make more money. This finds the prospect of being rewarded with all the valuable bitcoin tokens. If you are not into any mining or don’t know what is mining, this doesn’t cause any problem! You can buy the cryptocurrencies using a fiat currency and trade it on various exchange platforms like Bitstamp using another cryptocurrency. Another famous way of earning is by playing the video games allotted to you or you can just publish your blog posts on platforms that pay users in cryptocurrency. Basically, the need is to make cryptocurrency.
● Bitcoin Faucets
The next method is just simply viewing ads and answering surveys. This can be done by visiting the bitcoin faucet website, signing up and following their instructions. Those who visit the site and answer short questions, surveys, watch ads or captchas will be paid directly by the website from their income.
● becoming an affiliate marketer
This is the ongoing trend to make money using bitcoins. Now everyone has turned into an affiliate marketer one way or the other. You can become an affiliate to a cryptocurrency company. If you are a member of their affiliate marketing program, then you have agreed customer buying that product, you earn commission. This is what happens in vestige, oriflamme etc.
● Trading method
The most used or prominent method is by trading. This is just like a real stock market where the Bitcoin exchange coins, wherever and wherever possible.
● Mining of Bitcoins
This is the main topic of the blog. Mining is actually the method or the process of making money with bitcoin. This is basic and very simple to explain. You can sit at the comfort of your home and join the global network to solve the complex cryptographic puzzles which are required for the blockchain ledger. Thus for your work, you will be rewarded bitcoins. The person, who enjoys doing these tasks, can make profits like these easily.
● Platforms of Cryptocurrency
Cryptocurrency lending platforms work like a lending institution and offer interest rates between 8% and 15% and give away bitcoin loans to the debtors.
● Winning Share of Bitcoin by Competition
You can win bitcoins by two methods – Bitcoin Brawl competition and Bulls’ Run competition.
- Cloud Mining
You could also try cloud mining where you go out and rent machines to mine coins on them. The setup is easy and straightforward and you can find more information on this website.
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