There are many ways to get profit from this new digital champion called Bitcoin, you will never lose if you invest in mining or just buy any bitcoin or a part of it from a legitimate online platform.
Plus you can trade like any other stock, stock trading experience or forex provides benefits when trading cryptocurrencies because there is not that much difference in trading cryptocurrencies or any other fiat currency
What is mining
The word mining is used for Bitcoin as it is used for gold for decades because it has the same difficulties and expenses as gold, but these days Bitcoin mining is more difficult than gold mining, and the chances of finding gold are much more than finding a bitcoin. It is done by using high-tech computer systems that solve some mathematical problems, these problems are too difficult to solve by hand, even with very powerful computers.
After solving that difficult math problem, the miner is rewarded with a new Bitcoin just like a miner finds gold after really hard work, but it didn’t always happen to the gold miner, and these mining processes make the BTC system be reliable by checking them every time. In every transaction, miners add transactions in the form of blocks for public record and keep the record for future use, this record is called Blockchain which is also used to verify transactions in the future.
The reward for mining Bitcoin
There are more than 5 million daily sales and purchases and checking and verifying all of them takes too much time and work for the Bitcoin miners, while any of the miners verify any transaction and add a new block that miner awarded with Bitcoin, this reward is called a block reward, and it is reducing by half after every 210,000 blocks almost every 4 years, in the beginning, it was 50 and after 4 they reached 25 so now it has reached 6.25 in the current year 2020, to learn more about Bitcoin Visit bitcoin supreme.
Cost for mining BTC
At the beginning of Bitcoin, it was very easy, anyone can do it with their PC or even a laptop or notebook and can collect thousands of Bitcoin in a day after the awareness of digital gold more and more people rush to it and due To increasing demand their price also increase, people with more money and investment installed large computers and mining machines with many graphics cards and cooling system and kept them running 24/7, it is almost impossible for an average person to build such a large system because it is too expensive, you need to think twice before putting your money into such a business, only the cost of electricity consumed in this system is not bearable for an average person
Almost everyone is familiar with online trading, such as global stocks or the forex market, and some of them have a very good experience and have a lot of money in trading stocks or currencies, even if they have no prior experience in online trading, there are many platforms. which not only provides completely free training but also provides assistance while trading online with BTC
There are so many exchangers available on the brand that gives their clients leverage to play openly as in forex and it is entirely up to you that whether you want to play long or short term it may be risky in some way if you did not get it. market behavior and did not make the right decision at the right time are some of the reason to lose but mostly your are the winner
Profit in case of trading with Bitcoin
The benefits and profits in trading Bitcoin are unlimited because Bitcoin always gives the profits to its investors because it is not based on things like other assets, such as stocks or bonds, now it has been converted from the form of stocks to the A store of value means a very reliable and trustworthy asset, just like Gold, BTC being a completely independent currency in the world, nobody can seize or block the Bitcoin assets, it remains only under the power of its owner
In the past, bitcoin has a bit more fluctuation in its value that makes it more interesting for day traders for making profits in minutes and its never losing value more than a limit makes it a favorite for long-term investors, when it started its value was less than $ 10, but it has now passed the $ 130,000 line and experts say it will hit the value of 20,000 in the next few days
After doing a deep analysis, we can see that mining is less profitable with a lot of investment, while trading is much easier and a reliable process can start with just a few dollars due to its similarities to stocks and Forex trading. easy to learn and earn currencies while Bitcoin mining needs an expert level team and lots of knowledge.