Given their incredible increase in value in 2017, bitcoin will continue getting a lot of attention in 2019. If you’re just getting started out with this cryptocurrency, or even if you have some experience, there’s no doubt that you are wondering what the best way to make money with bitcoin is.
There are two options: Mining and trading. Both options can yield excellent results. Read on to learn more about making money by mining or trading bitcoins.
The easiest way to get involved with and make money from the bitcoin game is through mining; however, it’s also the slower of the two options. Bitcoins are generated via the mining process. Essentially, this process involves using a computer to solve complex algorithms known as blocks. Once a block has been decrypted, you can earn about 50 bitcoins.
If you are interested in mining bitcoins, choose a dedicated computer, install bitcoin mining software and sit back while your computer does all the work and makes you money. Just remember that you want to use a high-quality computer that has fast processing speeds, otherwise it could take a very long time to actually see results. If your computer has a slow processing speed, it could take a year or more to decrypt a single block.
If you really want to see the coins come in as quickly as possible through mining, you can invest in a purpose-built mining rig, or you can build your own. Lastly, you can join a mining pool. With a pool, computers are connected together to decrypt blocks into pieces that are shared with a group. Once a block is successfully decrypted, the bitcoins are issued out based on how much work your computer put into the effort.
If mining isn’t the route you want to take, you can make money by trading your bitcoins. This process works much like trading any other commodity.
To trade bitcoins, you need to set yourself up on a bitcoin exchange, which works much like physical currency exchanges. Through this process, you’re basically purchasing one form of currency with another. Once you’re set up for an exchange, you’ll deposit funds into your account and monitor the market, looking for opportunities to make money. Trading is the fastest way to make money with bitcoin.
Whether you choose mining or trading, you’ll find excellent opportunities to make money with bitcoin. Get started growing your wealth today!