Earn Money From Bitcoin Mining

5
394


Earn Money From Bitcoin Mining 2019

As we may have known, bitcoin had a major set back in 2018. According FinExpertiza, Bitcoin was the least profitable business as of 2018. I know a lot of friends who invested on bitcoin in 2018 thinking they would smile at the end, but it wasn’t as they thought. But do you know bitcoin was over $19,000 before it fell to $3,524.60?.  And check over the years, bitcoin always rise and fall, therefore, it is not a steady investment. On today’s discussion, I am going to guild you on how to earn money from Bitcoin mining

it is not a steady investment. On today's discussion, I am going to guild you on how to earn money from Bitcoin mining



Not to spoil your mind, business doesn’t always go the way it is being planned. You may experience a backdrop in a particular business and then all of the sudden you experience a major gain. As you have known, investing your money on any business is investing your money on any business is a risk. It is not a win win win project, sometimes you experience some shortcomings and you take it like that because it is business.

Apart from bitcoin I’ve seen people invested in many other profitable businesses but it did not turn out to be what they had expected.

Should I invest on bitcoin 2019?

Well this is not a kind of business I would make decisions for you, it is a matter of choice. But you should not use a single mistake to judge how the rest of the business will look like. Remember I said earlier that bitcoin had reached over $19000 so we are not certain of the amount it is going to clock in 2019. But you see, we are just investors and we should be optimistic that it really brings smile to our faces.

Some years back my friends told me to join him in his bitcoin investment which I clearly declined.  But something happened. Bitcoin during that year was in joy that it made some of them rich.

Though I was happy for them but I regretted never investing on bitcoin.

 

ALSO READ:

In this posted were going to teach you how to mine bitcoin and earn your cool cash. But remember I have earlier stated mining bitcoin also come with risk and expenses on its own.
Before i teach you on the steps to earn money from bitcoin mining, let us look at an overview of what Bitcoin mining is all about.

Overview Of Bitcoin Mining

Unlike paper currency which is been printed by the government  and distributed by the banks,  bitcoin is a digital currency which does not come or appears in a physical form.
 Systematically, since this is a digital currency it theoretically give hackers the privileges to create bitcoin from nothing.  This is where bitcoin mining comes to play. Bitcoin mining  is a bitcoin network that keeps transactions secured.
Bitcoin transactions are secured by Blockchain. Because of how Blockchain transactions are  structured, it it is extremely difficult for even the best hacker to compromise it. But in order for this bitcoin transaction to be secured, someone needs to dedicate computing power to keep check and confirm the actions,  package the details in block and then it is being received by the Bitcoin ledger.
That is absolutely what bitcoin miners does. You will  be paid for every successful tracking and securing of transactions.
The founders of bitcoin have set out a limit of 21 million bitcoin available for mining.  When the limit is reached miners won’t be able to earn bitcoin when the mine but they will be able to benefit from each transaction fee.
16.8 million bitcoin has been mined out of the 21 million bitcoin available as of mid January 2018.

Ways To Mine Bitcoins

 In those early days of bitcoin mining, a miner would just use software package structured to allow their computer system process bitcoin at the background. But now, it is not do because bitcoin has made it very difficult for an average computer to handle. And right now bitcoin has become more stringier to give out bitcoin unlike before.
Now adays, in other for you to stand a chance of benefiting from bitcoin, you have to adopt any of the following I would explain below.
  • Buy a specialised hardware( Popularly know as a Bitcoin mining rig)  or
  • Connect with or join a bitcoin mining pool

Buy a Bitcoin hardware

To get started with this you need to buy a bitcoin hardware created to mine bitcoin. When you have purchased it and have done the necessary setups you let it run 24/7, solving Bitcoin transactions for you.  This is to say apparently that the inflow of Bitcoin would be very steady without you getting involved or having to do much work

While setting up and using this bitcoin rig is fairly easy,  sometimes making money can be very difficult because the more people keep mining Bitcoin it becomes hard to really earn much from it.

What you need at this point in time is a change. This is to say that, bitcoin hardware you bought last year might not be of standard the next year. What you need at this point in time is to change the previous Bitcoin hardware. So at this point in time you have to buy a another bitcoin hardware.

The price of bitcoin hardware is not cheap, its price ranges from $1000 and above. The higher the price the more transactions and cash you make.

So every year you have to change your bitcoin hardware to stand a chance to earn money from bitcoin mining

There are lots of people who are willing to spend huge in getting this  bitcoin hardware mining, if you desire to  level up with them, then you have to get new one every year.

Cloud Mining

Have you tried the first method which is by managing your own mining hardware and it seems difficult for you? then I guess cloud is the best option to go into.

Cloud mining companies invest massively on mining hardwares, after buying, they sell subscriptions to individuals who are interested in mining bitcoin. Your subscription to this cloud mining gives you the opportunity to earn little of what those mining rig makes.

While I tell you this simple and suitable method, I will also tell you to be careful because the biggest challenge of this cloud mining is fraud.

Some companies pretends to be very big and reliable. They even give massive subscriptions to individuals to draw other people into buying fron them, but at some point in time they just disappears.

Before you buy from any company, you should

  • first of all research well to see a reputable company  company that has lasted for several years
  • Look for a company that has a good reputation.

Also Read: How To Remove Stock Apps From Android Without Rooting

Do away from companies with hidden domain registration (you can look up their registration info at Whois). Also, check the company’s “guarantees” profits or offers large bonus  for referring new customers; anything above a 10% referral commission is highly suspicious, why? Because even big companies don’t generate such a high profit to give such a big bonus.

Note: bitcoin companies also cut some percentage from the money you have earned due to maintenance, electricity and also the cost of doing business with you.

But to be sincere with you bitcoin may or may not be one of the top leading investment that pays well due to its rigidness.

Also Read:

Making Money Online: Ways To Promote Your Affiliate Link And Earn 2019

How To Download YouTube Videos To Your Phone With Tubemate

But the more and more people goes into bitcoin the more it becomes very difficult to earn from bitcoin in conclusion I will say bitcoin is a very risky business which you may gain massively or lose big time

 

Hits: 292

5 COMMENTS

  1. Have you ever considered about including a little bit more than just your articles?
    I mean, what you say is important and everything.
    Nevertheless just imagine if you added some great pictures or video
    clips to give your posts more, “pop”! Your content
    is excellent but with images and videos, this blog could certainly be one of
    the very best in its field. Fantastic blog!

  2. My brother recommended I might like this blog. He
    was totally right. This post actually made my day.
    You cann’t imagine simply how much time I had spent for this
    info! Thanks!

LEAVE A REPLY

Please enter your comment!
Please enter your name here