Most Asked Quesations of Bitcoin for Newbies

in #bitcoin6 years ago (edited)

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Digital Currency? How do you make Money?

You utilize your fiat money. That's paper cash that you at present have in your wallet. Through an e-wallet benefit, you can trade cash to Bitcoin or Etheruem and so much more now, which is the true coin utilized for exchanging and purchasing elective coins. Think about the Bitcoin like your USD and the ETH as the Euro. It's perceived over the world. You can recover your cash by utilizing a similar capacity to trade advanced money to fiat money. There's a little expense charged for this trade, obviously.

How can you make money in Cryptos? cryptocurrency-400x300.jpg

There are a couple of approaches to profit. In spite of mainstream thinking, exchanging Cryptocurrency isn't the main way you can gain a coin or two, however it's the most prevalent as a result of news of individuals turning tycoons "overnight". You can exchange bitcoins and altcoins like you would for monetary forms in Forex. But digital currency is significantly more unpredictable and unregulated. You can likewise mine for coins utilizing your PC. In spite of the fact that the yield from that from a home PC won't be justified regardless of your chance or service charge. Genuine miners have specific frameworks and run different frameworks in an extensive room called a mining farm. I will cover mining for the poor man particularly in another article. You can likewise loan your bitcoin to others utilizing exchanges such as bitfinex etc... that can give you the passive edge exchanging and profiting from that. In conclusion, you can participate in exercises gave by some of these tech organizations that compensation you in coins. Like Steem (Steemit.com) for instance. It resembles YouTube, however you get paid in coins for setting up content.

Is it safe? What happens to my money when the bubble burst? in contrary bitcoin may not even be a bubble.

The bubble burst is more devastating to traders. For the casual investor, you can park your money in a safe coin like bitcoin or Litecoin, maybe even Etheruem, Monero or Ripple. Just put your money there and check back a few years from now. The bubble that traders are talking about is the massive fluctuation of money in the Altcoin market where people are pumping in money in hopes to flip a profit when the value rises within a short span of time. Not all coins are good or worth that sort of investment. Some coins never make it past investment stage.

If its so good why aren't more people doing it?

Because people don't trust what they don't know, but everyday more and more people join the crypto world. Its always hardest to take that first step no matter the business opportunity and if something is too new or hard to understand it remains in the realm of the tech guys until someone makes it mainstream. Remember the days of the internet or social media? How long were they out there before you picked it up? Same as Cryptocurrency. The money making opportunity is too good to be true. We are used to banks giving us lousy returns or insurance companies giving us between 4 - 6% annually.

My favorite sayings for this is never be the first or the last into opportunity.

In a world ever evolving in to digital money or opportunities. Major corporations and the average person try to find a way to make money and Cryptocurrencies are the perfect tool. Whether it being trading, networking, or even mining. The sky is the limit or outer space in this case... How much bitcoin would you like to have when more and more of the worlds population is joining this opportunity each day? Alot of the people in the world or especially in third world countries may not have a bank account and rely on the good old fashion paper currency. Well, Bitcoin allows people like that to make money online and get it into their wallet, allowing them more opportunities they may not usually have. An example being everyone has a smart phone but not all have a bank account funny isn't it? Well you are your own back and in charge of your own money. Make your money work for you as hard as you work for it.

Hope you all enjoyed the article and thanks for your time.
I supplied a couple of tools to make my bitcoin life what it is and makes me money.
Mining - http://bitclub.network/turnerglobal
-https://www.genesis-mining.com/
- referral code: 0qe24h

Trading Exchange - https://www.binance.com/?ref=21230501

How to Buy Bitcoin?
https://www.coinbase.com/join/593630d9f35ce606ad924978

Feel free to follow me on steemit.
https://steemit.com/@bit.mike

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Feel free to ask any questions thanks : )