People see an increasing chance of earning money by investing in cryptocurrencies. While this is a game where you can lose as easily as a win, the number of people willing to invest is growing.
What is cryptocurrency?
For cryptocurrencies, we can say it is decentralized, the digital money that has no central control authority. Although it does not have a print version, it has a value. It is not known the exact number of cryptocurrencies, but it is certainly a four-digit number. However, among many others, one has always stood out as the most famous and most valuable – bitcoin. Bitcoin (BTC) was created in 2009 by a group of people under the pseudonym Satoshi Nakamoto. At the very beginning, bitcoin was almost worthless – 0.003 USD, and today its current value is 11,886.90 USD! Although it only exists in digital form, you can trade with this currency, pay bills, schooling, vacations, plane tickets, and so on. Considering that its popularity is growing day by day, the purchase of cryptocurrencies has become easier. There are exchange offices and ATMs for cryptocurrencies in cities around the world. However, people prefer to use an ATM because it is simpler and faster.
When it comes to cryptocurrencies, it is important to know that like any other money, they are kept in a wallet, but a digital one. This means that you will only have access to your wallet if you know the password, or if you have a key. There are two types of wallets – hot and cold, and they are as safe as you want to invest in them. While a hot wallet requires access via the internet, it has become an easy target for hackers, while the cold one is a better way to keep your money safe.
Where can I invest Bitcoin in and how to earn more?
You can invest cryptocurrencies in the same way as ordinary money – in stocks, trading, mining. Trading is one of the simpler ways and is recommended for more impatient people who do not want to wait long for their first earnings. As the stock market situation changes and the value of bitcoin and other cryptocurrencies rises and falls rapidly, it can happen that the value of currency changes as many as several times in one day. This can lead to unexpected earnings. On the other hand, there is mining. This is a slightly more time-consuming process and is ideal for a little more patient.
When we talk about mining, so-called miners play a key role. These are accountants who solve complex cryptographic tasks before the transaction is confirmed. To increase your chances of making money, you need to join one of the mining pools. For miners, we can say that their second job is to put new currencies into circulation. Crypto mining can be completely equated with gold mining, with the provision that in this case, the mining takes place in a virtual world. For those who want to know more, we will say that there are several types of mining, and these are CPU, GPU, and ASIC mining.
Invest in a good software
To make money, you also have to invest. Investing in software is something that will surely pay off for you. It is only important to find the software to your liking. Pay attention to the interface as well as the options it offers. Thanks to artificial intelligence, the software will recognize changes in the market faster and react to 0.01 seconds faster than the fastest customer, which is more than enough in the world of investment to bring you secure earnings. This is a great solution for those for whom this is not their primary job or do not want to spend their free time in front of the screen following the market situation.
However, in addition to trading and mining, there are other ways you can make money. More suggestions you can find on cryptoknowmics.com and we will bring you some of them.
Online casinos and bet shops
There are many online casinos where you can invest your bitcoins. This can be a very lucrative income and a way of having fun, but you should also be aware of the risks because the chances of winning are 50-50.
Shop online and earn Bitcoin
Many stores offer a reward in the form of bitcoin for their loyal customers who make purchases online. All you need to do is sit comfortably in the armchair and make the purchase you planned. After you spend a certain amount of money, you will be notified that you have received 1 BTC as a gift and that it will be sent to you after you enter your BTC address.
Get paid in Bitcoin
Increasingly, people who work from home, (such as freelancers or developers), decide to be paid in cryptocurrencies. This is a great way to get some bitcoin more and thus save, but also increase your chance of earning.
Pay to click (PTC) websites
Many websites will pay you to watch some ad videos or click on a certain page. Still, do not expect fast earning and get ready to spend some hours in front of the computer. Generally, it is paid 0.00000100 BTC per video. Still, if you are jobless, here is your chance to change it easily.
Similar to watching commercials, here you will be able to earn money by filling out surveys, because these sites make money from that, and they will give you a part of it if you decide to accept this challenge.
If you want your digital wallet to be “thicker” and you don’t have the money to buy bitcoins, you can borrow them in the same way as regular money. However, be aware of interest rates, which can be quite high, around 15%. Since this is still an unexplored market, you must be careful not to run into fraudsters. That is why it is very important to choose reliable platforms.