*Please read our investment disclaimer.

There are many ways to earn Bitcoin, here are a few examples:

Mining

Bitcoin mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the blockchain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

Bitcoin mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work (PoW) function. The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a “subsidy” of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system. Bitcoin mining is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.*

 

Staking Platforms

Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. In PoS-based cryptocurrencies the creator of the next block is chosen via various combinations of random selection and wealth or age (i.e. the stake). Proof of Stake currencies can be more energy efficient than Proof of Work, which mainly relies on energy use. You can earn by just holding many proof of stake cryptocurrencies. This provides dual benefits of securing the blockchain network as well as creating an opportunity for users to get incentives or dividends on their holdings. Some popular PoS coins are Dash, Neo, and PIVX.

 

AltcoinsTrading AltCoins

Trading altcoins is similar to investing in penny stocks, in case you don’t know penny stocks are the shares of smaller businesses and early stage companies, which have a much lower value than regular stocks. They are also much more volatile, often experiencing gains of more than 100% in a single day – or disappearing altogether overnight.

The idea here is to buy coins cheap, and sell them as they gain value, then convert profits to Bitcoin or continue to hold altcoins.*

Most coins will start off at a low price, and rise in value if they are successful. Of course this is not always the case, especially for ICO coins which may start off at a quite high valuation, depending on the structure and success of the ICO. But, nevertheless, it is usually true to say that the largest profits to be made often come from seeing the potential of a newer coin early on, before anyone else, and then riding the wave of success as other traders and users jump on-board. The technology will be unproven and may still be unfinished, and there will be little other objective evidence to look at. Investing in cryptocurrency is a high risk, high reward endeavor anyway, but this is particularly true if you buy very early on. You should therefore take care to spread out your capital over an even larger number of ventures if you take this approach in order to hedge your risk.*

Here are some cryptocurrency trading platforms: Binance | HitBTC 

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How do you earn Bitcoin? December 5, 2017