Is Bitcoin safe? Can you recover stolen Bitcoins?

Bitcoin is a sound investment and many who have invested in it are now millionaires. But the question is, is digital currency safe from hackers?

Many doubt Bitcoin because it is an entirely digital method of storing wealth not backed b FDIC insurance or traditional institutions like banks and government. Among the common concern is how vulnerable cryptography and blockchain technology is.

To ease your mind, we will address the security issues about Bitcoin to help you decide whether you should invest in it or not.

Has Bitcoin Been Hacked?

Bitcoin was launched n 2009 and I’m pleased to tell you that its entire network has not been hacked.

Bitcoin uses blockchain technology which is extremely difficult to hack. It is safe because the data is not saved on a central service but across a vast network of computers that are continually checking and validating that the records are correct.

Due to its intensive security, it’s impossible to infiltrate the system because the attacker has to breach multiple servers to gather enough information to hack it.

You can put it this way — it’s easier to steal from a room with only one vault. However, robbing hundreds of rooms with vaults, each providing bits of knowledge on how to open a single vault, would make the process very challenging.

In its 12 years of existence, Bitcoin has proven itself to be an extremely secure digital system. It boasts a reliable monetary system that has never been hacked and has never seen counterfeit money.

However, although the entire Bitcoin network has yet to be hacked, there are instances when exchanges or wallets have been hacked in the past but NOT the entire network. So, there are still potential security risks.

Bitcoins are stored in wallets and traded through digital currency exchanges. Hackers can access other people’s wallets and steal their coins through a two-factor identification process used as a security measure.

If hackers can access some of the users’ non-cryptocurrency-related personal information, they can use brute force to infiltrate wallets and steal Bitcoins. That’s why Bitcoin investors are advised to take precautions to keep their Bitcoins safe.

There are instances of jacks, cracks, hijacks and phishes on cryptocurrency exchanges. Mt. Gox, a Tokyo-based cryptocurrency exchange that operated between 2010 and 2014, was hacked, but the assault didn’t kill Bitcoin — it’s invincible so far.

Also, on Dec. 23, 2020, there was a massive data breach from a France-based bitcoin cryptocurrency wallet Ledger. The data that involved the personal information of over 270,000 bitcoin and cryptocurrency users were published on RaidForums, a marketplace for buying and selling hacked information. But then again, it didn’t hit Bitcoin so hard. only the crypto wallets.

How Difficult to Hack Bitcoin Network (Blockchain Technology)

Bitcoin is a blockchain database and a network of hundreds of thousands of computers called nodes.

They communicate to create and update the database. The database is safe because compromising one computer’s database won’t ruin the whole network.

Also, other computers on the network will notify the hacked user about the corruption to assist them, correct the problem or disconnect them from the network. So, it’s really difficult to hack.

Another astounding factor is that a single computer with a valid blockchain may fix an infinite number of computers with invalid or out-of-date chains. The network does not follow the majority’s opinion but the chain that is objectively the most valid.

One of the most popular concerns about Bitcoin’s security is called 51% attack could cause a double spend. A 51% attack is when a Bitcoin miner or a group of miners try to overwrite or change previous Bitcoin blocks. The attacker will invalidate the previously resolved transactions and steal Bitcoin by changing one or more blocks.

For a successful 51% assault, a malicious actor would need to control at least 51% of the Bitcoin network’s total processing power called hash rate. It needs more computing power than the rest of the network to put together. That’s why a 51% attack requires a considerable amount of money.

But the Bitcoin network has also grown, and the price has risen, so as the hash rate of Bitcoin miners. This made 51% attacks more difficult to execute, making them secure. As the Bitcoin’s price continues to rise, so as the hash rate, and the security will continue to rise as well.

Aside from the high cost of a 51% attack, Bitcoin also provides additional incentives for miners to remain honest. The incentive model does not help and will only discourage hackers because when they successfully executed an attack, it would only crash Bitcoin’s price devalue what they have stolen.

Aside from reducing the value of Bitcoin stolen, it will render the attacker’s Bitcoin mining equipment ASICS useless. Due to the economic and Bitcoin’s incentive model 51% attack does not succeed.

Another advantage that keeps the Bitcoin network system difficult to hack is the strict control and transparency of the money supply that prevents double-spending. This security feature is enforced by Bitcoin nodes to maintain its reputation and reliability.

Bitcoin User Security vs. Bitcoin Network Security

It’s important to note that there is a difference between Bitcoin users and the Bitcoin network.

Bitcoin users have to protect their private key, password, and sensitive information against hackers or loss.

On the other hand, the common security facing Bitcoin networks include the security of cryptography, the power of the peer-to-peer network and the hash rate of Bitcoin miners.

Bitcoin’s peer-to-peer network is open and decentralized. Anyone can join and view the Bitcoin blockchain. However, Bitcoin nodes enforce the rules of the network to maintain the security of the whole network.

When Bitcoin developers design new transactions or introduce new features, they closely look at how it will make the nodes vulnerable to Denial of Service (DoS) attacks which could take them offline.

Bitcoin Script is also not Turing complete; it doesn’t allow loops that could lead to a transaction with an infinite loop that could exhaust the nodes’ resources trying to validate it. If that happens, it would crash the nodes and remove them from the network making them unsusceptible from attacks and hacks.

Can Bitcoin Survive Without the Internet

Bitcoin uses the internet to operate like most digital services including legacy financial systems.

Without the internet, the miners and nodes on the Bitcoin network would not be able to communicate and the network would be at risk.

The Bitcoin network would not be able to produce new blocks and broadcast new transactions.

But the good thing is that the existing state of blockchain would remain intact. Each node would continue storing the block before the internet was lost.

The nodes and miners could resume broadcasting new blocks and operate as usual when the internet is back.

The Bitcoin network could operate over networks and broadcast blocks over the radio, mesh network, and even satellite without the internet.

Developers are working on finding better ways to make Bitcoin more robust and less reliant on the internet.

Can Hacked Bitcoin Be Recovered?

Since bitcoin and other cryptocurrencies are accessible online, cybercriminals are eyeing them and targeting crypto wallets.

There have been several crypto attacks reported in the past months.

Once cryptocurrencies are stolen, it will be very difficult to recover them.

In theory, you can track the stolen bitcoin by looking at the blockchain, but mind you; it’s not easy to retrieve it due to the anonymity in the network.

Also, the criminal can use Bitcoin exchanges to convert the digital currency into cash right away.

Also, if you successfully trace the currency using public ledgers, you would have limited options because most cryptocurrencies are decentralized.

Although it is difficult, it is still possible. Paolo Ardoino, Chief Technology Officer at Bitfinex, made it possible in one of the largest cryptocurrency heists of all time, The Washington Post reported.

In August, Ardoino received calls and messages about a breach at Poly Network, a platform where cryptocurrency users swap tokens among popular cryptocurrencies like Ethereum, Binance and Dogecoin.

About $610 million cryptos from tens of thousands of people were converted into Tether, a stable coin with a value that mirrors the U.S. dollar.

He knew that cybercriminals would transfer assets among online wallets through difficult-to-trace transactions and when done, the money would be lost forever. So, he sprang into action and froze the assets.

“We were really lucky,” he said. “Minutes after we issued the freezing transaction, we saw the hacker attempt to move out his Tether. If we had waited five minutes more, all the Tether would be gone.”

Thanks to Ardoino’s fast action, the cybercriminal did not succeed. Two weeks later, Tether released the money to its rightful owners.

What To Do With Stolen Virtual Currency

The Cyber Helpline has some tips on what you should do when dealing with stolen virtual currency.

1. Check your device for malware. There’s probably malicious software that led the hacker to access your currency.

2. Call your bank. If the transaction had a related cost that connects to your bank account, you should contact the bank immediately and let them know about a possible unauthorized or fraudulent transaction. Tell them to verify with you the future transactions.

3. Track the money. You can follow the transactions of the wallet address. If the hacker attempts to transfer funds from the wallet to crypto exchanges to sell for fiat currency. You can use browser-based blockchain exploring software like blockcypher to ‘follow’ the payment through to an end bitcoin address.

To trade crypto, one has to submit KYC information, including one’s name, address, and ID information. You can contact the crypto exchange to identify the cyber-criminal.

4. Hire a bounty hunter. If you want to recover the lost Bitcoins and you are willing to spend for it, you can hire experienced blockchain searchers to help you track the crypto and potentially recover the funds. However, the prices of their services can be expensive.

How To Avoid Your Bitcoin From Being Stolen

If you want to keep your digital assets away from prying eyes and cybercriminals, here are some tips that you can follow.

1. Do not talk about owning a virtual currency. You are more unlikely to be targeted if no one knows about your digital assets.

2. Enable multi-factor authentication. It’s better to use an authenticator app than the SMS option. If you can disable SMS authentication, better do it.

3. Use a new email address and complex password. When setting up an account for Bitcoin, it’s best to create a new email for it. Do not use the email on your social media accounts or give your boss or pals.

4. Spread your investment. Many exchanges have already been hacked so; it’s best to spread your bitcoins in different exchanges.

5. Store your bitcoins in a cold wallet. You can also opt to store them in a cold wallet. It is safe because it is not connected to the internet, so the risk of it being stolen is low.

Wrap Up!

The Bitcoin network is generally safe. It uses blockchain technology and in its 12 years of existence, it has proven itself to be secure because it has never been hacked.

However, there are many instances when crypto wallets and crypto exchanges have been hacked. So, it’s best if you take precautions when storing your Bitcoins.

Always makes sure that your private keys, passwords, and other sensitive information are not easily accessible.

You can check our home page if you wish to learn more about bitcoin, bitcoin mining, and bitcoin profitability!

References

• cnbctv18.com/market/currency/can-bitcoin-be-hacked-all-you-need-to-know-about-how-safe-is-the-cryptocurrency-8342431.htm
• river.com/learn/can-bitcoin-be-hacked/
• bitpanda.com/academy/en/lessons/can-a-cryptocurrency-like-bitcoin-get-hacked-or-shut-dow
• technologyreview.com/2019/02/19/239592/once-hailed-as-unhackable-blockchains-are-now-getting-hacked/
• appknox.com/blog/5-ways-your-cryptocurrency-may-be-hacked

How many bitcoins are there? Is there enough bitcoin to mine?

Bitcoin is probably the most popular cryptocurrency today. Many invest in powerful mining rigs or join bitcoin mining pools to earn a BTC.

Since many are into bitcoin mining, it’s understandable for some to wonder if there is still enough bitcoin to mine. Of course, the volume left contributes to the difficulty in mining and its profitability.

In this section, you will find out the answer to the question — how many bitcoins are there? So, without further ado, let’s get started!

What Is Bitcoin Mining?

We will be discussing a lot about bitcoins, especially how many bitcoins are there left for mining. So, I will start this article with a section about bitcoin mining to give the newbies an overview of the process.

Bitcoin mining is the process by which new bitcoins enter into circulation. It’s also how the new transactions are confirmed using a network.

Basically, bitcoin mining is about validating transactions. The miner will search, verify and validate transactions from a pool of unconfirmed deals before adding them to the bitcoin network. They will do the validation by solving mathematical problems. The process is a critical component in maintaining and developing the blockchain ledger.

Mining requires sophisticated hardware to solve a complex mathematical problem. The first computer to find the solution will be awarded the next block of bitcoins and the new process begins again.

Although many are into cryptocurrency mining, it’s actually painstaking and costly but rewarding because every block reward comes with 6.5 BTC.

Yes, bitcoin mining is rewarding, but there are also risks.

You can spend time mining and still not get any bitcoin because as mentioned, only the first miner to arrive at the right answer or closest answer to the mathematical problem will receive a block reward.

The process does not involve advanced math or computation but the miners have to come up with a 64-digit hexadecimal number called “hash” that is less than or equal to the target has and the first one to successfully do will get the new block and each new block adds 6.25 bitcoins in circulation. Apparently, the process is guesswork.

Here’s a simple analogy.

You have three friends and you tell them you are thinking of a particular number between 1 and 100. Write that number on a piece of paper and seal it.

Let your friends guess the number and the one who gives a figure closest to the number but not greater to it will win. There will be no limit to how many guesses they get.

For example, you were thinking of no. 28. If your first friend’s guess is 29, the second’s guess is 10 and the third one’s guess is 25, the third one wins.

The answer should be less or equal to the number you wrote. Since the first friend gave a higher figure, the answer is already wrong. Both the second and third one gave a number lower than 28, but the third one’s answer was closest.

In the bitcoin mining process, there are thousands of miners and the number to be guessed is a 64-digit hexadecimal number.

Just imagine how strenuous the guesswork will be. Plus, the miners have to solve it fast because the bitcoin mining algorithm resets every 10 minutes, by then a new block has to be guessed.

Since there are trillions of possible guesses of randomness, the process requires hard work and that’s why bitcoin miners need a lot of computing power. If more miners join the network and add more hashing power, it will be easier and faster to find blocks.

To remedy this, Satoshi Nakamoto resets the mining difficulty once every two weeks or resets the blocks every 10 minutes.

A new block is created every 10 minutes, so the miners have to solve it again. The bitcoin network has grown exponentially but the average time of finding blocks has constantly remained below 10 minutes.

Aside from making miners wealthy and supporting the bitcoin ecosystem, mining is a very significant process because — it’s the only way to release new cryptocurrency into circulation.

Bitcoins are mined so they could join the circulation. All bitcoins in existence were mined. Basically, bitcoin miners are “minting” bitcoin. Without miners, bitcoin as a network will still exist as it is. However, there will be no new bitcoins in circulation.

How Many Bitcoins Are Left To Mine?

Cryptocurrency mining is a complex and energy-intensive process, but bitcoin is still profitable. Mining is a demanding procedure that requires powerful mining rigs, too much electricity, and more to earn a new Bitcoin.

Here’s an overview — you need a fast and powerful computer to solve a mathematical problem with a 64- digit solution to create a new coin. For each problem solved, one block of Bitcoins is processed and the first miner to solve it is rewarded with a new bitcoin. The new cryptocurrency is stored virtually through an online database called a blockchain.

Bitcoin was created in 2009 and Satoshi Nakamoto, whose real identity remains a mystery, set the upper limit in the source code at 21 million which means that there will be no more bitcoin to mine over that number. Initially, there were 21 million bitcoins.

Bitcoins are mined to be in circulation. However, the total number of bitcoins in existence has decreased over time because over a million bitcoins are lost in the past years. But do not worry, many bitcoins are left in circulation. There are still enough bitcoins in the market.

There is no reason why Nakamoto opted to settle for 21 million bitcoins when the limit could be higher or lower. But many believed that it’s already enough and the limited supply keeps the cryptocurrency scarce which helps bitcoin hold its price steady in the coming years.

After over a decade, nearly 90 percent of the total bitcoin has already been mined. Yes, about 18.78 million bitcoins have been mined.

Yes, in just 12 years most Bitcoin has already been brought into circulation which means that there are only a little over 2 million bitcoins left to mine, Gadgets 360 reported in August.

The Sun also reported close to the same figure in July. According to the outlet, the available bitcoins left to be mined were down to 2,250,681.3 bitcoins.

Although there is only over two million bitcoin left to mine, it will still take decades or even over a century to mine the last Bitcoin. Business Insider predicted that in the early 2030s, just a decade later, nearly 97 percent of the bitcoin will be mined. However, the remaining 3 percent will only come into existence during the next century and the final bitcoin is said to be mined around 2140.

The reason for the slow mining is “halving.” Bitcoins are introduced at a fixed rate of one block every 10 minutes. However, halving reduces the number of bitcoins released by 50 percent every four years. So, lesser bitcoins are mined over time and that’s why it will take longer to mine the last one.

Here’s an overview.

When Bitcoin was first mined in 2009, mining one block would give one 50 BTC. In 2012, it became 25 BTC. By 2016, it was down to 12.5 BTC.

On May 11, 2020, the reward became 6. 25 BTC. In September 2021, the price per Bitcoin is $45,000 which makes mining still profitable. So, yes, the process remains rewarding.

How Many Bitcoins Are Mined Per Day?

How many bitcoins are there in circulation? How many new bitcoins are created daily and added to the circulation? Every successful mining adds new bitcoins to circulation. So, how many bitcoins do miners make each day?

According to Buy Bitcoin Worldwide, 144 blocks are mined per day on average. There are 6.25 bitcoins per block reward. To get the number of bitcoins mined daily, we have to multiply 144 blocks by the number of bitcoins per block reward which is 6. 25.

144 blocks x 6.25 BTC = 900!

That means the total number of bitcoins mined daily is 900 on average. However, many miners are adding new hashpower over the last few years and a new block is often found at 9.5-minute intervals rather than 10 minutes.

So, it creates new bitcoins faster. On most days, the actual number of bitcoins created is more than 900.

How Many Bitcoins Are Lost?

Every year, more than 1 million bitcoins are lost. One recent estimate revealed that about 3 to 4 million bitcoins are lost forever.

However, it’s impossible to find the exact number because a lost bitcoin looks just like the same on the blockchain as one that is not lost.

The same applies to other digital assets. In most cases, they cannot be retrieved but are lost forever. The lost bitcoins permanently exit the circulation. More often, the reason is due to the user’s error.

A significant amount of bitcoin has been permanently lost due to people losing their private key which grants them access to their wallets. Aside from that, there are cases when the hardware is misplaced or bitcoin users failing to create a backup making the funds impossible to retrieve.

I have heard tons of stories from people who lost their private key or throw away a drive that had their bitcoin wallet on it.

Earlier this year, a programmer from San Francisco made headlines after he found himself locked out of an encrypted drive with a reported $220 million USD worth of bitcoin stored on it.

According to the outlet, he only had two remaining attempts to input the correct password before he would lose his BTC permanently.

The lost bitcoins shrinks the number of bitcoins in circulation and its maximum supply. According to Cane Island Digital Research, 4% of bitcoins in existence are lost each year. The study estimates that there will only be a maximum of 14 million bitcoins in circulation due to the rate at which the digital assets are lost.

Over eighteen million bitcoins are mined and an estimated 20% are inaccessible. At the time of the report, the inaccessible bitcoins amount to $140 billion. There are speculations that the lost bitcoins will only increase the value of the remaining bitcoins in circulation because they increase its scarcity.

However, good news for bitcoin users who lost their digital assets — there are chances that you can recover your lost bitcoins.

About 20% of all bitcoins are lost due to lost private keys which represent between 68,110 and 92,855 BTC that are recoverable, which translates to between $3.6 and $4.2 billion, a new study says per Yahoo! Finance.

Crypto Asset Recovery estimates that about 2.45% of lost Bitcoin is recoverable.

Charlie Brooks, the founder of the New Hampshire-based firm, told GOBankingRates that crypto’s inherent decentralization paired with strong encryption proves a secure system for stores of value but it also serves as its weakness.

“The value we add to the market is mostly reaped by retail investors as your typical retail investor is not always as serious about security as an investment firm with billions of dollars in assets under management,” Brooks said.

“To your average retail investor, the crypto and defi world is full of opportunities but fraught in insecurity by the lack of a safety net in the way of a centralized entity controlling their login details and securing their assets (i.e. a ‘forgot my password button’).”

According to Brooks, one of the potential solutions for that is using a custodial wallet. However, many are not sold with the idea of using crypto wallets as it is in opposition to the decentralized nature that is inherent to blockchain technology.

“This is where Crypto Asset Recovery helps retail investors the most,” he added.

Retail investors can hold their own private key and still retain recourse through Crypto Asset Recovery without having to turn over ownership of their keys in the event they lose their password to what they call “common crypto-assets” such as Bitcoin, Ethereum, Litecoin, Bogecoin or dozens of other altcoins.

For those who will use Crypto Asset Recovery, the bitcoin user has to provide them with a copy of their wallet and the best guesses of their password. They will use the password guesses to “brute force” the password.

The bitcoin and altcoin passwords are secure enough to foil a brute force password attack if the attacker has no prior knowledge of the password. However, the crypto asset owner knows part of their own password, so the probability of recovering the lost bitcoins “increases dramatically.”

Since recovering lost bitcoins is not easy, the company charges 20% transaction fees for the first 10 bitcoins recovered and a sliding scale for the next 10 bitcoins.

“For example — Let’s say we cracked a 15 Bitcoin wallet, we would charge 20% of the first 10 BTC and 15% of the remaining 5 BTC making our total commission 2.75 BTC,” Brooks explained.

“A large portion of Crypto Asset Recovery is conducting brute force attacks on our clients’ wallets to narrow in on a password — this is made substantially easier when we have full transparency and trust with our clients,” he added.

Most of their clients were early adopters who invested or mined bitcoins early on as a hobby when bitcoins were much cheaper. Brooks declined to reveal the largest number of bitcoins they recovered as it would be impossible to keep their client’s privacy. However, he said the recent sizeable crack was valued at over a quarter a million.

While firms like Crypto Asset Recovery are extremely useful, one should be wary of using their service. David Veksler of walletrecovery.info told Cryptonews.com that Bitcoin users should be careful because many are not legit.

Here are two hints that the bitcoin recovery agency is a scam.

First, it asks for money upfront for various transaction fees. Legitimate services ask for a percentage of the recovered fund and do not charge upfront transaction fees. Second, they make promises instead of understanding your situation to make a realistic solution.

Who Owns The Most Bitcoin?

There are probably thousands of people who have mined and traded bitcoin since 2009. Many have become multimillionaires for mining especially those who invest in bitcoin early on because back then, many were afraid to purchase the digital asset. Mining was then easier and more profitable. Apparently, bitcoin has helped many make a fortune.

Since bitcoin is a popular cryptocurrency, many are wondering who owns most of it. To give you an overview, I’ll give you 10 names of the top 10 bitcoin investors.

1. Satoshi Nakamoto

Unsurprisingly, Nakamoto, the creator of bitcoin owns most of the bitcoins in circulation. He is estimated to own about 1 million bitcoins which amounts to $34.9 billion in 2021.

Nakamoto created a cryptocurrency that is resistant to global economic crises. He wanted to help people keep their money secure. Things turned well because bitcoin has been embraced globally.

2. Micree Zhan

Zhan, a Chinese electronics engineer and businessman. He is the second richest bitcoin owner. He is also the co-founder of Bitmain. His net worth is estimated to be $3.2 billion per Forbes.

3. Mike Novogratz

Mike Novogratz, the founder of the Galaxy Investment Partners, comes third on the list. Galaxy Investment Partners focuses on investing and developing cryptocurrency-related services. He reportedly invested $7 million in bitcoin in 2013 and use those funds to finance his company. At present, he is worth $478 million, according to Forbes.

4. Matthew Roszak

Matthew Roszaki is the co-founder of Bloq, a blockchain-centered tech company focused on developing tokenized networks and applications. Roszaki is a crypto advocate and this is apparent in Bloq which offers guidance about everything in crypto from payment processing to assisting banks in safely storing digital assets. His crypto network is estimated to be $1.2 billion

5. The Winklevos Twins

The Winklevos twins — Cameron and Tyler — are among the wealthiest people after investing in bitcoin. The twins made headlines in 2004 after they sued Mark Zuckerberg for stealing their social networking idea to create Facebook.

Zuckerberg settled the case by paying them $65 million in cash and giving them Facebook shares. They own 700,000 bitcoins and were considered the first billionaires from investing bitcoin in as early as 2017.

6. Blythe Masters

Blythe Masters is another crypto investor who has worked in the finance sector for so many years. She also served as Managing Director at J.P. Morgan Chase & Co.

Prior to that, in 2014, she served as the CEO of Digital Asset Holdings, a company that develops encryption-based processing software that improves Bitcoin trading’s performance, safety, compliance and settlement pace.

Masters has an estimated worth of at least $500 million in 2021, but there is a little detail about her net worth.

7. Dan Morehead

Dan Morehead, the founder of Pantera Capital, made it into the list. Pantera Capital is the world’s first cryptocurrency-focused investment company. Its bitcoin fund has provided a 24,000% return to investors allowing Morehead to accumulate a net worth of about $200 million.

Pantera Capital does not only invest in cryptocurrencies but also fund other crypto-relation companies like exchanges and coin trading services such as Polychain Capital and Bitstamp. The company has made major growth since its launch in 2013. By 2018, it became one of the largest institutional cryptocurrency investors.

8. Microstrategy

MicroStrategy is the richest institution in bitcoin. In February 2021, it acquired additional 19,452 bitcoins for $1.026 billion in cash. It has an average price of 19,452 bitcoins for $1.026 billion in cash. Overall, it owns an estimate of 90, 531 bitcoins.

9. Tesla

Tesla is among the businesses that hold the most bitcoin. Its SEC filing revealed that the company invested approximately $1.50 billion in cryptocurrency.

As of the fourth quarter of 2020, it invested 7.7% of its $19.384 billion cash reserves in bitcoin. The company also announced that it would accept bitcoin payments for its goods. It’s the first automaker to do so.

However, SpaceX and Tesla CEO, Elon Musk seemed to have a change of heart. In May, Musk announced that Tesla would suspend vehicle purchases using bitcoins.

The company was concerned about the increasing use of fossil fuels for bitcoin mining and transactions especially coal which has the worst emissions of any fuel.

The company still believes that cryptocurrency is a good idea and that it has a promising future. However, it doesn’t agree that its benefits should be at the expense of the environment.

“Tesla will not be selling any bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction,” the announcement concluded.

Just a few days ago, Musk issued a serious bitcoin warning after China crashed its price. In the last 30 days, the bitcoin price has lost almost 10% with China’s latest crypto crackdown breaking the enthusiasm of bitcoin and crypto traders.

“Just let it fly,” Musk said as quoted by Forbes. “There’s some value in crypto, but I don’t think it’s the second coming of the messiah. It will hopefully reduce the error and latency in legacy money systems.”

China has escalated a crypto crackdown since May declaring all cryptocurrency transactions illegal. It also bans foreign exchanges from providing crypto services to Chinese residents. The China government also shut down powerful computers to secure cryptocurrency blockchains which results in crashing the bitcoin price and wider crypto market.

“It would appear [the Chinese government doesn’t] love crypto,” Musk said about the matter. “I suppose crypto is fundamentally aimed at reducing the power of centralized government and they don’t like that, is my guess.”

10. Grayscale Investments

Grayscale Investments is another popular brand in the bitcoin market. Grayscale Bitcoin Trust is the largest investment fund that owns bitcoin and the only one that is available within traditional finance.

It also has the world’s most versatile portfolio compared to any institutional investment platform with over $30 billion worth of BTC and in ownership of 656,166 BTC.

Why Is Bitcoin 21 Million Limit?

There are originally 21 million bitcoins but nearly 90% have already been mined. The creator of bitcoin has not really explained why it chose the said figure. But many believed that with a limit, bitcoin has very little chance to ever lose its value in the future.

When something is scarce, theoretically, its value holds steady in the coming year. It’s for that reason, bitcoin is called “digital gold” because there’s only a certain amount of bitcoin in existence.

Normal currency only loses its value over time when the central authority keeps printing them without setting an upper limit. That’s probably the reason bitcoin’s upper cap was set to 21 million.

Nakamoto put a fixed supply limit to bitcoin to give it anti-inflammatory properties. An email shared by software developer Mike Hearn revealed that Nakamoto intended bitcoin’s unit prices to eventually align with the traditional fiat currency so that for instance 0.001 BTC would be worth 2 Euro.

“I wanted to pick something that would make prices similar to existing currencies, but without knowing the future, that’s very hard. I ended up picking something in the middle,” Nakamoto said per The Next Web.

“If Bitcoin remains a small niche, it’ll be worth less per unit than existing currencies. If you imagine it being used for some fraction of world commerce, then there’s only going to be 21 million coins for the whole world, so it would be worth much more per unit,” they added.

Decrypt offered two reasons why Nakamoto chose the said figure — (1) money supply replacement theory and (2) the limit could be mathematically extrapolated from Bitcoin’s operating parameters.

Money supply replacement theory

By limiting the maximum supply and slowing the rate at which new bitcoin comes into existence, Satoshi intended each individual bitcoin unit to appreciate in value over time.

Nakamoto and Hearn explained that if 21 million coins were to be used by some fraction of the world economy0.001 BTC (1 mBTC) could be worth around €1. The prediction came true in 2013.

Although he compared Bitcoin to Euro in his email, some believed he may have had a much grander vision for bitcoin that’s why he chose the 21 million maximum figure.

At the time bitcoin was created the entire world’s money supply was at $21 trillion. The figure was known as the M1 money supply, which is made up of the total value of all the physical money in the world including cash, coins, travelers’ checks and more.

If Satoshi aims for bitcoin to be the single world currency to replace the M1 figure then each BTC would be worth $1 million because there are 100 million satoshis in each Bitcoin. That would place the value of each satoshi at $0.01.

The numbers align so closely which is a remarkable coincidence if it’s not intentional.

Bitcoin’s operating parameters

Aside from the M1 money supply replacement theory, the other plausible rationale is bitcoin’s operating parameters. The figure allows the network to ensure that blocks are mined in a regular timeframe of 10 minutes.

It also ensures that the amount of bitcoin paid out to miners as block rewards decrease over time as the maximum supply approaches its limit. The parameters set could be why Nakamoto limit bitcoin to a maximum of 21 million.

Again, when it comes to why 21 million and not other figures, there is still no concrete reason behind it. All of the things are mere speculations. It could be that 21 million was just an educated guess. Or more of a mathematical coincidence than a conscious choice.

While there is no explanation as to how Nakamoto ended up with 21 million, giving Bitcoin a limit makes sense. Also, there is no central authority that will create additional Bitcoins above the maximum mark set as the Fed can do in US dollars. So, bitcoin’s max limit at 21 million will stay as-is.

How Many Bitcoins Make Up $1?

The value of bitcoin is volatile, it’s best if you use a BTC to USD or USD to BTC converter to get the current rate. At present, $1 is made up of 0.0000209130 BTC.

Meanwhile, a single bitcoin is worth $47, 505. 96. However, expect changes from the said figure from time to time.

Bitcoin’s price fluctuates frequently on cryptocurrency exchanges due to many factors. The volatility is measured in traditional markets by the volatility index also known as the CBOE volatility index (VIX). With it, you can track the volatility of the world’s leading digital currency by market cap.

Bitcoin’s value has been historically volatile. For instance, from October 2017 to January 2018, the price of Bitcoin reached nearly 8% which was twice its volatility in the 30-day period ending January 15, 2020.

Summary: How Many Bitcoins Are There (as of Oct 3, 2021)

Total BTC in Existence: 18,832,706.25

Bitcoins Left to Be Mined: 2,167,293.8

% of Bitcoins Issued: 89.680%

New Bitcoins per Day: 900

BTC out of circulation: 30 -50% (2.56 million or $20 billion)

Wrap Up

The majority of the Bitcoin, nearly 90% have already been mined. Nakamoto has set the maximum limit of Bitcoin to 21 million in the source code to ensure that it will hold its value.

There are only over 2 million Bitcoins left to mine, but it will still take over a century to mine the last one because of halving. All bitcoins are mined for them to be in circulation.

Bitcoin mining is the only way to increase the total number of bitcoins in existence. Every successful miner will receive a block reward that comes with 6.5 BTC.

However, many bitcoins are lost due to the users forgetting their private keys. But there are cryptocurrency agencies that can help retrieve those bitcoins.

Lost bitcoins can somehow help bitcoins hold their value because it limits the supply.

Meanwhile, as the volume of bitcoin left decreases, it will be more difficult to mine it. Business Insider predicted that the last bitcoin will not be mine until 2140!

I hope the articles above give you a concrete understanding of how many bitcoins are there and how many bitcoins are left to be mined. If you wish to learn more about Bitcoin, check our home page.

References

• gadgets.ndtv.com/cryptocurrency/features/bitcoin-total-coins-limit-21-million-price-impact-mining-2512575
• mybtc.ca/article/who-owns-the-most-bitcoin
• linkedin.com/pulse/bitcoin-halving-why-never-more-than-21-million-bitcoins-abhijeet-rout/
• decrypt.co/34876/why-is-bitcoins-supply-limit-set-to-21-million
• buybitcoinworldwide.com/how-many-bitcoins-are-there/
• blog.unchained-capital.com/bitcoin-data-science-pt-2-the-geology-of-lost-coins-79e5a0dc6d1
• static1.squarespace.com/static/5d580747908cdc0001e6792d/t/5e98dde5558a587a09fac0cc/1587076583519/research+note+4.17.pdf
• forbes.com/sites/billybambrough/2021/09/30/crypto-isnt-the-second-coming-teslas-elon-musk-issues-serious-bitcoin-warning-after-china-crashed-the-price/
• forbes.com/profile/zhan-micree/?sh=7f17daf98893
• forbes.com/sites/michaeldelcastillo/2021/01/11/bitcoins-recent-surge-creates-new-billionaires/
• cryptonews.com/
• bloq.com/
• panteracapital.com/
• twitter.com/elonmusk/status/1392602041025843203

Do you want to mine Bitcoins but aren’t sure if it is still profitable? Is bitcoin mining still worth it?

Bitcoin mining is one of the most popular ways to get money from cryptocurrency. However, the process can be tough and expensive.

One has to invest in good mining rigs, take the time to learn the mining process, and consider a lot of factors like electricity to ensure profitability.

If Bitcoin mining is done right, yes it is still profitable. In the next section, I will discuss some of the things that might help you decide whether you should mine bitcoin or give it a pass.

Do Bitcoin Miners Make Money?

Bitcoin is a digital currency that operates free of any central control or over the sight of banks or governments.

Although the digital currency is not backed by central banks and the government, it is widely accepted worldwide and can be exchanged for traditional currencies.

More and more want to own and save bitcoin so they can sell it. Bitcoin mining is one of the ways to make a profit from cryptocurrency. However, the mining cost makes some wonder if the process is still profitable.

Individual miners make money from bitcoin mining because it is still profitable. Bitcoin mining is one of the most lucrative and innovative sectors in the global economy. According to data in April 2021, cryptocurrency mining has generated $3 billion in revenue, which means that crypto miners earned $100,000,000 in profit every day on average, Yahoo! Finance reported.

Five years ago, the average daily revenue of crypto mining was just around $1 million, but that has increased to almost 10,000%. Cryptocurrency mining is one of the most booming markets today.

However, one has to note that while it became extremely profitable, it has also become very competitive. One has to invest to make mining profitable.

For instance, one has to purchase mining rigs with impressive computing power and pay for the electric cost. Mining may take time and the difficulty will affect the Bitcoin you will receive as a reward.

“Bitcoin mining is starting to resemble similar industries as more money flows in and people start to suit up. With increased leverage, margins are lower across the whole sector. Soon, large-scale miners will be able to hedge their operations with financial tooling to lock in profits, whilst bringing in USD denominated investments like loans or for equity,” said Kristjan Mikselsson Managing Director of the Icelandic Blockchain Foundation.

Is Bitcoin Mining Profitable In 2021?

Is mining bitcoin worth it in 2021? This is the question I often hear lately.

Again, bitcoin mining is the process of earning bitcoins in exchange for running the verification process to validate bitcoin transactions.

These transactions provide security for the bitcoin network and compensate the miners by giving them bitcoins.

Is mining bitcoin still profitable? There are several factors that determine whether Bitcoin mining is profitable including electricity costs, availability and price of bitcoin, computer rigs and their computing power, and difficulty in providing the services. You have to know the cost of mining to determine its profitability.

The bitcoin mining difficulty is measured in the hashes per second of the bitcoin validation transaction and the hash rate measures the rate of solving the problem. But the difficulty changes as more miners join the pool. And when more miners join, the difficulty increases to ensure that the level is static.

Aside from that, bitcoin mining uses computing rigs which include expensive hardware. To know if the process is profitable, you have to consider the costs and difficulty and the price of bitcoin that you will be receiving as potential rewards.

So, is bitcoin mining profitable? In general, the revenue from mining outweighs the costs and the investment into mining hardware. Yes, bitcoin mining is still profitable even in 2021.

A profitability trend was observed in April by the miners when bitcoin was trading at nearly double its current level, according to Glassnode’s analysis.

Some Chinese miners have been selling their mining computers or rigs at discounted prices due to the competition in the business. However, the remaining miners continue to enjoy profitability boosts until the infrastructure catches up, according to industry experts.

The active bitcoin miners’ profitability doubled after a 28% downward difficulty adjustment in July, Nasdaq reported. The North American hash spread an index invented by digital asset financial services platform BitOoda to measure the difference between bitcoin mining revenue per megawatt-hour and the cost of the needed power and learned that it had almost doubled to $449 from $225 at the time.

“Mining economics have improved significantly,” Sam Doctor, chief strategy officer at BitOoda, wrote in a newsletter.

If you want to try mining bitcoin, don’t hesitate because it is still profitable.

“It’s become both easier and more profitable to mine bitcoin,” said Nick Spanos, co-founder of Zap Protocol, an infrastructure provider for decentralized apps. “That’s a recipe for enticing more miners back in.”

However, if you are an environmentalist, bitcoin mining or cryptocurrency mining might not be appealing to you due to its energy demands.

Although bitcoins are a digital currency, it requires huge energy. The bitcoin mining process alone uses too much power which is why electricity prices are critical factors.

Producing bitcoins generate between 22 and 22.9 million metric tons of carbon dioxide emissions a year which is between the levels produced by Jordan and Sri Lanka, according to a 2019 study in scientific journal Joule, NBC News reported.

Due to bitcoins carbon footprint, Elon Musk, Tesla and SpaceX CEO, decided not to accept bitcoin due to its energy demands.

In May, Musk released a statement about Tesla & Bitcoin on Twitter.

“Tesla has suspended vehicle purchase using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” the statement read.

“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at a great cost to the environment. Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.”

How Bitcoin Mining Works and Why It Needs Proof of Work

Bitcoin is a permissionless, decentralized digital money technology that enables peer-to-peer value transfers without the use of a central middleman. It uses blockchain technology so the individual miners can confirm transactions without the need for a central clearing authority.

Blockchain technology is secure because it is decentralized and distributed. Without blockchain, bitcoin is useless. It also employs a proof of work (PoW) method, which is difficult, expensive, and time-consuming to implement yet simple to verify.

Bitcoin is now safe, and attacks on the network are impossible. PoW is required since it protects against fraud and promotes confidence. PoW is a technique for ensuring that transaction processors (miners) do not lie about it.

If there are numerous copies of the blockchain on the network, it is utilized to select the most legitimate copy. Furthermore, proof of work is essential for developing a distributed clock that permits the miners to enter and exit the bitcoin network at a steady rate.

Proof of work is also used to keep track of bitcoin transactions while making it more difficult to change the data over time. The history of transactions is maintained in a data structure known as the blockchain, which is made up of a series of blocks. The blocks, which are made up of transactions, are generated every 10 minutes.

Transactions are Bitcoin transfers from one account to another that is broadcast across the network. The miners (block producers) rank transactions within the blocks based on the optional charge a user includes as an incentive.

The larger the cost, the greater the chance that the transaction will be included. A mining node can be run by anyone. Each miner has a duplicate of the blockchain. Mining is the process of constructing a block.

Linking a block with the “proof of work” hash of its predecessors will make the block tamper-resistant because every block has an ingredient in the next block’s hash. Any changes in the chain will affect the final “proof of work” has and all the block hashes in between.

The deeper the altered block is, the more computation effort is required to tamper it. The chain’s final hash is similar to a checksum because it represents the entire chain’s cumulative work.

The hashcash system is used to produce blocks in Bitcoin. Miners make blocks by calculating the answer to a proof-of-work problem. They must find a specified hash that is less than a 256-bit value.

Hashcash generates a hash with a SHA256 algorithm that changes dramatically with any change in data. It’s impossible to get information from the output. The only method to solve this problem is through expensive guesswork or PoW that is why it is required in the process.

Miners use the list of transactions and a guess number (nonce) as inputs for the hashing function to guess the “proof of work” answer. Because miners are free to enter and exit the network, the difficulty is modified every 2,016 blocks to ensure that each miner has a reasonable chance of solving the block within the ten-minute time limit.

The verification process is decentralized over the entire network as a result of this. The protocol makes this change by increasing or decreasing the objective based on the number of miners.

The first miner to discover the “proof of work” answer broadcasts the solution to the rest of the network. All nodes will be alerted when a new block is discovered. They will double-check the answer before moving on to the next block. This effort is substantially redundant; all miners compete for a solution on the same set of transactions.

The block miner collects transaction fees and a block reward if the calculations are right. A block reward is a new bitcoin that is minted and credited to their account (currently 12.5 bitcoin).

You can also think of bitcoin block rewards as the new bitcoins given to cryptocurrency miners after solving a complex math problem and creating a new block of verified transactions. The competitive process forms the consensus mechanism that keeps all nodes on the same blockchain copy.

Only the longest chain (the one with the most “proof of work”) is considered valid and authentic by the protocol. A fake chain is impractical in the long run since a miner’s chances of continuously obtaining the block reward to keep the chain going are slim. Other miners will continue to extend the valid chain quicker than the tampered chain over time.

Although PoW is for mining security, it’s not perfect. Its consensus mechanism is environmentally taxing and if the miners take over the majority of the hashing power, they can manipulate it.

Also, there is no mechanism to reprimand malicious miners beyond the high cost of attempts. Moreover, it does not scale well since every node must process every transaction. Sharding the network might improve efficiency but at the expense of security.

How Long Does It Take To Mine 1 Bitcoin?

You cannot mine just one bitcoin. Crypto miners have to mine one block. At one point the reward was set at 6.25 BTC per block.

Each block usually takes 10 minutes to mine. So, in theory, it will take 10 minutes to mine 1 BTC and get a 6.25 BTC reward.

However, you should also know that while many have been enjoying a profitable mining experience, the process is not easy. In every block, there are thousands of bitcoin miners competing for the reward. And when there are more miners, the difficulty of mining increases. So, mining a block may require more computing power to solve.

The chances of mining a single block on one rig are very unlikely. So, many bitcoin miners opt to join a mining pool to combine their collective computing power and split the profits based on the proportion of power each miner brings.

The proportion of power or hash rate depends on the ASIC mining setup. To give you an overview of the mining pool, here’s an example.

Antminer S19 Pro, one of the most powerful ASIC rigs, has a hash rate of 110 TH/s. It makes up just 0.00088% of the F2Pool pool.

How Much Bitcoin Can You Mine In A Day

With each bitcoin block taking 10 minutes to mine, it is possible to mine 144 blocks each day. With the given rate and the bitcoin halving, 900 BTC is available in rewards every day.

F2Pool and Poolin are among the two largest mining pools and they are responsible for 14.23% and 12.60% of the total hash rate.

With 144 blocks mine each day, you will approximately make 128 BTC each day in F2Pool. But you have to note that the amount of BTC will be shared between its members.

How To Know If You Can Profit From Bitcoin Mining

As mentioned, Bitcoin mining has a lot of variables. If you want a simpler life, buying bitcoin from a crypto exchange is a simpler way to make profits.

However, when mining is done properly, you can make more money from it compared to hodling.

One of the most important variables for miners is the price of the Bitcoin itself — this impacts all miners. You also have to consider the mining hardware and electricity. You should earn enough Bitcoin to cover those expenses.

If you want to ensure a profitable mining experience you need these three factors — cheap electricity, low cost, and efficient hardware, and a good mining pool.

1. Efficient Hardware

Bitcoin mining is done in ASIC-specialized Bitcoin mining hardware that is housed in thermally-controlled data centers with access to cheap power. ASIC is very critical in the development of crypto mining after CPUs, GPUs, and FPGAs. ASIC miner is the most effective method to mine crypto.

The price of the hardware may depend on the manufacturer and on how low the energy is used for the machine vs the amount of computing power it produces. Take note, the more computing power, the more bitcoin you will, and the lower the energy consumption, the lower the monthly costs.

Yes, it’s difficult to find all of these things, but it is possible. So, if you are planning to buy a machine, you should make sure that it is profitable and durable. Do not just buy a machine that will not deliver. For instance, investing in old machines is not wise because they are no longer profitable.

“Profitability is determined by the machine’s price per TH, how many watts the machine uses per TH, and your hosting costs.

Longevity is determined by the production quality of the machine. It makes no sense to buy cheaper or seemingly more efficient machines if they break down after a few months of running,” said Tore Thornas, mining expert.

2. Cheap electricity

Electricity prices vary from one country to another and it’s a critical factor in mining bitcoin. Several countries charge low electricity prices and if you live in one of those countries, then you have an advantage.

For example, running your machine if the cost of electricity is $0.045 kWh like in China, Russia or Kazakhstan will only cost you $110 a month. However, if you are in the United States where the electricity price is at around $0.12 kWh, you are already at a loss from the start. It will not be reasonable for you to mine under the said condition.

Electricity prices are a huge factor in mining bitcoin because it contributes to the overall cost of mining on your end. If all of the bitcoin you mine only goes to paying for the energy consumption, then mining is not profitable for you.

3. Reliable mining pool

Not everyone can afford to buy their own mining rigs and pay for the mining expenses that include electricity. So, they join a mining pool, a network of Bitcoin mining machines that make the whole ordeal easier.

If you are mining with one machine or several thousand of mining rigs, you won’t still have it easy because the network of Bitcoin mining machines is so large that you will be having difficulty finding a block.

“If the Bitcoin Network Hashrate is 100 EH/s (100,000,000 TH/s), a WhatsMiner M20S ASIC miner with 68 TH/s, has approximately a 1 in 1,470,588 chance of mining a Bitcoin block. With one block per 10 mins they may have to wait 16 years to mine that one block,” said Thomas Heller Global Business Director at F2Pool.

Mining pools are an economic way to mine bitcoin and other cryptocurrencies. A mining pool is a collective of cryptocurrency miners — the miners join together and pool their computing power over a network to increase their chances of finding a block.

Think of it is as a group effort where you contribute a processing power for successful mining. If the pool is successful, the participants will be rewarded.

Mining pools are a great option to earn mining rewards for small operators regardless of the hardware you use. It’s also a great bitcoin mining strategy for beginners because mining pools are designed to be user-friendly. Individual miners benefit from mining pools and pools benefit from the miners’ hash rate.

Joining mining pools like Slush Pool and F2Pool are very helpful. It’s a great way to earn from bitcoin or cryptocurrency mining F2Pool, the largest Bitcoin mining pool supports around 20% of the entire Bitcoin network.

F2Pool uses the PPS+ payout method which takes away the risk from the miners. They pay out block rewards and transaction fees to miners regardless of whether the pool itself successfully mines each block. Here’s an overview of the calculation.

If the Bitcoin Network Hashrate is at 85 EH/s (85,000,000 TH/s), a WhatsMiner M20S ASIC miner with 68 TH/s, will earn around 0.000702 BTC per day before pool fees.

0.000702 BTC is calculated by 68 (miner hashrate) ÷ 85,000,000 (network hashrate) × 144 (number of blocks per day) × 6.25 (block reward).

Pool fees are normally 2.50–4.00%, so let’s use 2.50% for the example; the net mining revenue is therefore 0.00068445 BTC.

If BTC is priced at $9,000, then this M20S has a daily revenue of $6.16.

“Choosing the right mining pool is very important, as you will receive your mined bitcoin sent from the pool payouts every day. It’s important to choose a pool that is reliable, transparent, and offers the right suite of tools and services to help you optimize your mining operation,” Heller added.

4. Fees when selling Bitcoin

When mining bitcoin is successful and you decide to sell them to bitcoin users, you will likely incur fees during the sale. Depending on the fee structure of the exchange, it might be low or high. The fees usually depend on the fee structure of the exchange, state of the order book, and moment.

Professional miners have an edge because sales done with OTC desks have no fees. Some miners are even paid above the spot price for their coins.

Is Bitcoin Fast Profit Legit?

Most people buy bitcoin to make money. However, many fall prey to a false platform that only steals their money. For bitcoin traders, a good Bitcoin Fast Profit is essential. So what is a Bitcoin Fast Profit?

For those who are not aware of Bitcoin Fast Profit, it’s a software application that enables users to benefit from cryptocurrency volatility. Just like mining bitcoins, it allows one to make profits from cryptocurrency. Users can develop a trading algorithm and strategy which are automatically implemented on behalf of the user. This might be more environment-friendly than bitcoin mining because it is just an app.

The algorithm will evaluate the trend, price, market and statistics for choosing the best time to sell or buy your crypto assets like Bitcoin.

The British Bitcoin Profit is easy to use and it executes most of the tasks by itself. The system allows users to trade with stocks, Forex, and other raw materials available. Several said the said cryptocurrency system had helped them earn.

The system works like a bitcoin trader. All of the withdrawal requests are executed within 24 hours and deposited into the bank account provided. For security, it comes with a valuable SSL protocol that encrypts all documented user data to protects its service. Thus, the risk of hacking is almost impossible.

Is it legit? Yes, it is and it is a trusted auto trading platform that you can rely on to make money from the cryptocurrency market. The ratio of success for most of the traders is 96% according to the software’s analytics tool.

Also, it is licensed as an automated trading platform for cryptocurrency and managed by a team of professionals who are interested in helping people enjoy the profits in crypto trading.

The best thing about Bitcoin Fast Profit is that it allows even busy individuals who have one or more jobs to earn a passive income. It is also user-friendly and doesn’t require technical skills.

Many of those who had used the system attested that it worked for them. It gave them real profits, real results.

Bitcoin Fast Profit Features

Payouts

The payout system on Bitcoin Fast Profit is fast and accurate. The system processes it as soon as the live trading session ends. It works well because there are no delays.

Verification System

For security, all of the requests are only processed once they are verified. Also, the user information entered during the account opening or update is verified.

Withdrawal process

When you request to withdraw funds from Bitcoin Fast Profit accounts to a bank account are completed in 24 hours.

Service Charges

Most bitcoin exchanges come with service charges. But the good thing with Bitcoin Fast Profit is that it only takes a very small fee compared to other automated trading systems. The management team in charge only uses the service charge to maintain the auto trading platform.

Testimonials

Many people use Bitcoin Fast Profit and many of them freely share their experience. Through their testimonials, you will get to see and understand how efficient and effective the program is. Their testimonials are great sources for you to decide whether the program is worth it or not.

Customer Support

All investors on the platform can access the customer support system any time of the day and 24/7. Their customer support is knowledgeable, professional, fast and very helpful.

Brokers

The brokers who have partnered with Bitcoin Fast Profit are always on the watch of the auto trading system to ensure that the investors will make a profit daily.

How Does Bitcoin Fast Profit Work?

The Bitcoin Fast Profit is a standard cryptocurrency trading system that does the job for you with an accuracy of 96%. It uses Artificial Intelligence (AI) for its mathematical algorithms that track data using technical and fundamental indicators to ensure authentic market analysis.

It also makes use of fresh data in the market that affects the cryptocurrency prices to assess trades. So, the users can enjoy guaranteed profit every time they use the platform.

It is also very convenient to use because it allows you to make deposits and withdrawals using a variety of methods, including eWallets, Debit/Credit cards and more.

To make money just register and very the account. Fund it with real money and start trading. The whole process does not involve any complicated process.

The Bitcoin Fast Profit collaborates with AI brokers for simple transactions and to leverage and manage deposits.

Why Use Bitcoin Fast Profit

Thousands of traders use the Bitcoin Fast Profit app because it offers several benefits that you will not find in other apps. Here are some of them.

Allows multiple cryptocurrency trading

The Bitcoin Profit platform allows users to trade different cryptocurrencies not just Bitcoin. Yes, you can also trade Ripple, Ethereum, Monero and more.

Secure

It is also very safe to use because it offers maximum privacy and security for its users’ data. The software is encrypted, so all information is protected and safely delivered. The Bitcoin Profit also ensures an adequate protection policy for its users’ passwords. Most cyber hacks start with a weak password and Bitcoin Fast Profit doesn’t make the step easy for the hackers.

For additional security, all users will be redirected to a broker where they are required to provide additional information to verify their identity. The regulators want to ensure that the users are legit, so the process will require a government ID and proof of address.

The principal aim of the KYC criteria is to avoid financial fraud, including money laundering. Bitcoin Profit’s AI brokers are organized and puts all customers through the ID verification system for security.

Easy to use

The system is beginner-friendly. So, even if you are a complete newbie, you won’t have a hard time navigating and using the system. Also, all transactions are completed within minutes, so it is very convenient to use.

High success score

All users stand a high chance of making profits from Bitcoin Fast Profit. The success rate of transactions done by the trading robots is very high. Also, the fast transactions and processing on the site are the reasons for its outstanding success.

Convenience

If you have daytime jobs and want to earn extra income passively Bitcoin Fast Profit will make a good partner. You can use the auto trading platform without any special trading skills.

Why Is Bitcoin Fast Profit Profitable

There are a number of reasons Bitcoin Fast Profit is profitable

1. Speed and accuracy

Bitcoin Profits are efficient compared to manual crypto trading because it’s a software program that sells and purchases cryptocurrency faster than humans do. These two factors are important because time and speed are essential in the trading process because it helps reduce loss and at most times increase profit. Most trading platforms lack this, so they are liable to tolerate losses rather than profit.

2. Consistency

The platform is very consistent because it is an automated system. All of its functions are steady and dependable. The robots run diverse transactions according to specific rules and it decreases the chances of emotional trading.

How to Open a New Bitcoin Fast Profit Account

1. Register an account

Download the account registration form. It will require you to enter some personal details, including your name, country of origin, email address, and phone number.

It will not take long to verify the account. You will be notified by email when the account is ready for use.

2. Make a Deposit

To proceed with the review, the account needs funding. You can do the minimum deposit to start the investment experience. You can deposit $250 with a Visa or MasterCard ban card. You can also use Neteller and PayPal.

3. Demo Trading on Bitcoin Fast Profit

A demo trading feature is available and it works well. The said feature will give the users a great overview of the whole Bitcoin Fast Profit process. It shows how auto trading robots work, so the demo trading feature can be used to explore the program without any risk of losing your money.

4. Live Trading

The first live trading session will last for hours. So, you should dedicate an ample amount of time when you trade. During my first trade, I had multiple sessions and made $880 in two days.

I guess the demo trading workedThe demo trading was very helpful because my first live trading was very smooth. Also, the withdrawal system was fast and the funds were cleared in 24 hours.

Conclusion

Mining bitcoins is still profitable today. Cryptocurrency mining makes billions in revenue and miners make millions of profit daily on average. However, you should take the time to know the process and invest in powerful mining rigs or use mining pools.

You can also use the Bitcoin Fast Profit app that offers you the same opportunity as mining — to earn from cryptocurrency passively. It doesn’t require as much cost and energy as mining, but it is as profitable. There is no doubt that bitcoin is profitable, but there are still risks as you will be dealing with a volatile market.

If you wish to learn more about bitcoin mining and other things about the bitcoin network, check our home page.

References

• signalscv.com/2021/08/bitcoin-fast-profit-review/
• easy-to-read.eu/bitcoin-fast-profit-en/
• investopedia.com/articles/forex/051115/bitcoin-mining-still-profitable.asp
• buybitcoinworldwide.com/mining/profitability/
• gfinityesports.com/cryptocurrency/how-long-to-mine-1-bitcoin-cryptomining-BTC-mining-pool/
• cnbc.com/2021/07/03/bitcoin-mining-difficulty-drops-after-hashrate-collapse-in-china-.html
• twitter.com/elonmusk/status/1392602041025843203
• nbcnews.com/tech/tech-news/big-bitcoins-carbon-footprint-rcna920

Where to buy bitcoin at a low price? What’s the cheapest way to buy and send bitcoin? Where is the easiest place to buy bitcoins?

If you ask yourself the same question, then you are on the right page. I know that more and more are drawn to Bitcoins. It has evolved from being an obscure digital token to being a payment method that millions of stores worldwide accept. Many even believe that it’s the currency of the future.

You will need a crypto exchange to buy Bitcoin and other cryptocurrencies. Unfortunately, there are too many crypto exchanges available that choosing the best one can be confusing.

The best way to buy Bitcoin is to consider a low transaction fee, convenient payment methods, a variety of digital assets that you can purchase, and of course, it should be something easy to set up.

I understand that you are looking for places to buy Bitcoin and I’m here to not just give you one, but the best options available for you in different categories.

So, without further ado, let’s get started and explore the different ways to buy Bitcoin and discover the best places to buy your favorite cryptocurrencies!

What Is The Best Place To Buy Bitcoin?

Buying Bitcoin is not really difficult because there are lots of Bitcoin exchanges available. However, sometimes, having too many options make it difficult for some to decide which to choose. Since there are too many cryptocurrency exchanges available, I am here to help you narrow down your choices.

The Bitcoin exchanges I’ll be mentioning in this section are the best overall — security, transaction fees, Bitcoin price, and cryptocurrencies. They are popular and safe, so I highly recommend these places to buy Bitcoin.

1. eToro

eToro is an industry global leader since 2007. It supports over 20 million users and 20 million crypto transactions in 140 countries. No wonder it’s one of the most popular places to buy Bitcoin, Ethereum, Litecoin, Dash, Stellar Lumens, NEO, EOS, Cardano, Ethereum Classic, Bitcoin Cash, IOTA, Zcash, Tron, Tezos, Chainlink, and Uniswap.

The best feature of eToro is CopyTrader, a technology that allows one to start copying other traders automatically. Whether you are a beginner or too busy to study the techniques of the pros, CopyTrader allows you to replicate the moves of the successful trader inside your own portfolio. So, you can be as successful as the professionals without spending too much time studying the craft.

eToro app can trade cryptocurrencies anywhere, anytime. It has a clean and user-friendly interface which makes it very easy for one to trade regardless of the experience. Plus, it offers many options for you to pay including credit cards, debit cards, and wire transfers.

Another great thing about this Bitcoin exchange is that it doesn’t charge deposit and withdrawal fees. But there is a minimum $50 deposit when opening an account.

Overall, eToro is a really good place to buy Bitcoin. So, don’t be hesitant to check it out when you need to buy Bitcoin.

Click Here To Check eToro

2. BlockFi

For long-term investors who want to earn interest in their crypto assets, BlockFi is the best place to buy Bitcoin. The exchange allows you to use Bitcoin as collateral to secure investments and purchases. Plus, it has no transaction fee when crypto trading.

The best feature of BlockFi is the staking rewards. Some cryptocurrencies like Tezos and Ethereum have staking rewards that allow you to earn money by leaving your crypto on the exchange. The platform will use your crypto asset to mine other cryptocurrencies. As a reward, they will give gift cards.

Also, in early 2021, BlockFi released the Bitcoin Rewards Visa Credit Card that works like a cash-back credit card except that you earn crypto instead of cash. The platform offers a 1.5% reward on all purchases and a $250 Bitcoin bonus when you spend $3,000 in the first three months.

And, it’s among the safest platforms for Bitcoin investors because of its cold storage system. Its custodian, Gemini, is a New York trust company and the new York State Department of Financial Services oversees its SOC 2 Type 1 security compliance, protecting your crypto wallet.

Click Here To Check BlockFi

3. Currency.com

This exchange offers you a simple and safe platform to trade. It is an award-winning platform and it is fully regulated and complies with AML and KYC laws, so you can bank on it when it comes to security. It allows you to trade crypto with zero spread that’s why it’s one of the best places to buy Bitcoin.

So why Currency.com? First, it has 2000+ top-traded tokenized assets and cryptos. Second, it offers competitive commissions with no hidden fees.

Third, it has the best affiliate and referral offers. And, one can also make profits from tokenized government bonds and corporate bond investments.

It is simple yet powerful because it has tons of features that are very helpful for cryptocurrency trading and buying Bitcoin.

For instance, it has powerful charts and 75 technical indicators, instant price alerts and split-second transactions, negative balance protection, and guaranteed stop-loss.

Also, Currency.com aims to be a world-class platform that rewards knowledgeable and skilled investing.

It also makes it easier for investors to pay their transactions by allowing multiple payment providers and the use of a credit or debit card. It also has 24/7 customer support and a full-fledged demo account if you want to see how price action develops and understand the risks inherent in leverage.

A demo account is a good way to understand how the platform work, get a feel of the trading condition and develop your own cryptocurrency trading strategies.

Click Here To Check Currency.com

4. Binance

Binance is one of the most popular Bitcoin exchanges because it’s the world’s largest cryptocurrency exchange. You can buy and sell crypto assets on the platform in minutes.

One of the best things about Binance is the diversity of assets available on the platform. It has over 200+ crypto assets, so expect to find tons of cryptocurrencies on the platform aside from Bitcoin. It’s not as user-friendly as the other exchanges but it’s not very difficult to use either. Those who try to use it were able to start trading in minutes!

Binance is a huge success and it has already expanded its products and services. In fact, it partners with Simplex to allow users to use their credit and debit cards to pay for their transactions. About 15% of the crypto-assets can be purchased using debit cards but the purchase comes with a 3.5% fee.

It offers three interfaces when buying Bitcoins — basic, classic and advanced — to match your experience and expertise. Basic is for first-time users, classic offers a market trading snapshot and advanced are for experienced traders.

Also, Binance, if I may say is user-friendly. It has a 24/7 customer service team that is ready to help you resolve your credit and debit card payments, fees, wallets, and other technical issues.

Binance also keeps their users informed about the updates of Bitcoin and other cryptocurrencies because they have a blog with the latest trends in Bitcoin and other cryptocurrencies, and an online message board.

Click Here To Check Binance

5. Coinmama

Coinmama is the easiest way to buy and sell cryptocurrency which makes it a good starter for those who are completely new to buying Bitcoins. Do not worry, it is trusted by nearly 3 million people across 188 countries since 2013. So, yes, the brand has a good reputation. I can say it is safe and reliable.

Also, it is best if you want a fast transaction because Coinmama understands the investors’ sense of urgency that’s why it offers a quick way for setup and verification. You can complete the account setup and start purchasing in minutes.

It’s the go-to option for those looking to buy Bitcoin immediately because it has a streamlined platform and mobile app that simplify the sign-up process, so you can spend less time waiting and more time trading. It also offers instant delivery — just place your order and get your coins instantly. No deposits are required.

Plus, it has all your favorite coins Cash, Ethereum, Ethereum Classic, Cardano, Litecoin, Tezos, of course, Bitcoin and other cryptocurrencies.

The exchange also offers several payment options, including credit and debit cards, Apple Pay or bank transfer. However, the mode of payments and loyalty levels affect the fees. Express debit card purchases usually incur a 5% surcharge.

Moreover, they have high spending limits that will surely allow you to buy Bitcoin and the other cryptocurrencies you want without holding back. New users can join Coinmama’s affiliate program and earn a 15% commission on all referral purchases. So, try this way to buy Bitcoin and let us know your experience.

Click Here To Check Coinmama

What Is The Safest Bitcoin Site?

Cryptocurrency exchanges are safe platforms to buy and sell bitcoin and other digital assets like Bitcoin. Most, if not all, claim to be safe but a few stand out in this area.

Finding a safe place to buy Bitcoin is easy, just check the reviews of the Bitcoin exchange and find out what the other users say about their experience with the platform.

1. Phemex

Phemex is a cryptocurrency exchange that offers spot, derivatives, and simulated trading on a single unified platform. The premium users have the ability to buy crypto by paying fees on its spot exchange for major cryptocurrency assets like Bitcoin, Ethereum, XRP and Link. It is safe because it has cold wallet storage to keep the funds safe on the exchange.

Phemex is easy to work with because it has a demo account for beginners to practice with 300K transactions per second. It has competitive trading fees and advanced order types to manage risk. Plus it has a fast and responsive mobile trading app.

The cryptocurrency exchange provides both futures contract trading and spot trading services. It’s the first in the industry to offer a low-cost membership model that will allow users to spot trade Bitcoin with zero fees.

Its perpetual contracts can be traded with up to 100x leverage. It also offers a non-crypto GOLD USD trading pair contract with more traditional assets and commodities. It is safe and has low fees, so it’s a good place to buy and sell Bitcoin.

Click Here To Check Phemex

2. Shapeshift

Shapelift is another safe place to buy Bitcoin. It is a digital marketplace founded by veteran crypto leader Erik Voorhees in 2014. It offers crypto services to users worldwide. The online exchange also offers you the ability to quickly swap between assets in a seamless, safe, and secure environment.

It is the first of its kind cross-chain swaps powered by 0x and THORChain with 1000s of trade pairs with FOX back on every trade. It also supports over 750 cryptocurrencies across 11 blockchains. It is secure and non-custodial and allows you to safely send, receive, buy, trade, and store your crypto assets.

It is decentralized and unlike most centralized custodians, Shapeshift gives you total control of your crypto and makes buying Bitcoin a breeze. You can easily connect your favorite crypto wallet to get started and it doesn’t require you to open an account. It doesn’t require IDs or fees.

Click Here To Check Shapeshift

3. CEX.io

This is a trusted and secure Bitcoin and crypto exchange that offers you the easiest and safest platform for buying, selling, trading, and earning cryptocurrencies. The platform has certificates like PCI DSS that serve as proof of its service’s safety.

It has a money service business status in FinCEN. It complies with the legal requirements of the countries where it functions. It also has two-factor authentication, DDoS protection, and the use of multi-signature Bitcoin addresses making it one of the safest crypto exchanges in the USA and around the globe.

It also comes with 24/7 customer support to answer your concerns. It makes everything possible to ensure fast processing of inquiries. And for your peace of mind and satisfaction, the support team goes through carefully designed intensive training. They are professional, knowledgeable, and experienced. Buying bitcoin with CEX.io is fun, convenient, and very relaxing.

Click Here To Check CEX.io

Which Crypto Site Has Lowest Fees?

Finding the best crypto exchange can be challenging because there are too many of them on the market. However, if you are particularly concern about finding one that offers low fees, this section is for you.

The exchanges in this section stand out when it comes to fees. They are the cheapest way to buy Bitcoin.

1. CoinSmart

CoinSmart is a crypto exchange based in Canada. It comes with a comprehensive identity verification process and it’s capable of detecting fake addresses or a date of birth using a database from the data collection agencies.

Many prefer it when it comes to buying Bitcoin because it is one of the exchanges that offer the lowest fees. It offers a 0% fee for Bank Wire and Bank Draft and up to a 6% fee on credit or debit cards. and 1% fee on electronic funds transfer.

​​CoinSmart is designed to make crypto simple. The company wants its users to have a digital currency exchange that they can actually understand. It’s for both beginners and experts because CoinSmart aims to make cryptocurrency accessible to everyone conveniently, so it allows you to buy and sell bitcoin and other digital currencies via desktop and mobile.

It has advanced trade features for experts that include the following limiting orders, stopping loss, and real-time charting. It also comes with the SmartTrade feature that lets you trade from one coin to another without the limitation of trading Bitcoin or Ethereum first. Moreover, it lets you track all your trades and trading activity for ease of use.

I have a smooth and fast transaction with CoinSmart. But for me, it stands out due to the low fees it offers compared to others. So, if you are very particular with the transaction fees, the cheapest way to buy Bitcoin is through CoinSmart.

Click Here To Check CoinSmart

2. PrimeXBT

PrimeXBT is an award-winning trading platform that allows you to trade global financial markets using cryptocurrencies like Bitcoin, USD Tether, USDC and more. It also has access to global markets and 24/7 support.

Furthermore, it allows you to earn by inviting friends and pays up to 50% of the trading fees paid by them. Convesting is a smart way to trade where you can select from the best performing traders and copy their trading activity automatically.

You can also let others follow your trade and earn extra income for doing so. With convesting, copy-trading platform, you can earn up to 20% of all profits earned from your followers.

It’s a great option for low-cost exchanges because it allows you to open a free account with attractive trading conditions and competitive fees. The trading fee is 0.05% for takers and 0.02% for makers, 0.01% for Indices & Commodities, and 0.001% for Forex majors.

It doesn’t have a demo mode for inexperienced traders. But I still find it to be among the best exchanges especially for those who want a simple platform to trade with leverage. PrimeXBT is worth a try, so you better check it out.

Click Here To Check PrimeXBT

3. FixedFLoat

FixedFloat aims to provide flexible solutions tailored to their customers’ wants and needs. Plus, it has a robust design and fast processing. It doesn’t require sign-ups, so no hassle. It also saves you a lot of time.

Moreover, it has friendly and dedicated customer support who are willing to help you every step of the way. No matter what your concern, you can trust them to help you find the solution no matter what issues you encounter when using the platform.

Also, you can choose to go for either fixed or floating exchange rates depending on what fits your strategy. You can then let the bots do the hard work of picking the best deal for you. FixedFloat supports tons of currencies including Bitcoin, Ethereum, Tether, Binance USD, Bitcoin Cash, Dash, and more.

FixedFloat was launched by a team of blockchain experts with extensive experience in finance, web tech, and entrepreneurship. The team behind the platform is united by the idea of creating the best-in-class digital asset exchange platform that meets all the needs of the crypto community.

Click Here To Check FixedFLoat

What Is The Cheapest Way To Buy And Send Bitcoin?

Finding the best location to buy Bitcoin depends on your location and when you buy it because Bitcoin is volatile and its price can change drastically from time to time.

I wouldn’t recommend a particular exchange because as mentioned, it depends on several factors.

However, I will help you find the best one near your place by sharing with you the different factors that you should consider.

Fees. The different exchanges may impose various fees, including deposit fees, transaction fees, and withdrawal fees. When combined altogether it will affect the total amount you receive.

Exchange rate or spread. Some exchanges offer extremely low fees while others hide their fees by larger spreads making you pay more if you are buying bitcoin or receiving less if you are selling bitcoin.

Country support. You should make sure that the exchange is supported by your country. Otherwise, it won’t be useful for you.

Limits on how much you can buy. Most exchanges restrict your buying and selling amount based on your time with them. The amount of personal information you have given them to satisfy the KYC and AML regulations.

Payment methods. Normally, the cheapest payment method is bank transfers or wire transfers. Some also allow credit cards, but they usually ask for higher charges for that.

Reputation. When choosing an exchange to work with, you have to research about the exchange if it is trustworthy. Always choose the one with great reviews because that would answer whether the company has a good reputation or not.

Can I Buy Bitcoin For $100?

How do you invest in bitcoin? If you are planning to start your Bitcoin investment with $100, no problem. You can invest in as little as $100.

You can buy bitcoin fractions up to $100 which means that you do not have to buy a whole coin which is currently retailing at $51, 658.

Bitcoin units referred to as Satoshi is divisible to eight decimal places and a single Bitcoin is equal to 100,000,000 satoshis.

You can also buy or sell one-thousandth of a bitcoin.

Is Coinbase Pro The Cheapest Way To Buy Bitcoin?

Coinbase is a very popular exchange. However, Coinbase Pro offers a better rate than it. I can’t say that Coinbase Pro is the cheapest but it’s sure is one of the exchanges that offer the least or minimal fees.

Coinbase Pro is Coinbaise’s GDAX (Global Digital Asset Exchange). It is called Pro for a reason — it is for serious and professional traders. You will easily understand once you use the exchange.

Coinbase has a very simple user interface while Coinbase Pro can be fairly intimidating. So, yes, Coinbase offers significantly higher fees for the simper interface.

Using Coinbase, you can easily make selections to Buy or Sell, Choose assets like Bitcoin and enter the amount USD. It’s somewhat similar to Coinbase Pro, but the latter also offers you to specify an order type that defaults to Market and the type of order type will help you pay a lot less.

So yes, when it comes to fees, Coinbase costs more. It can charge you O.5% for a Spread which can be higher in volatile markets. Also, it charges a Coinbase Fee which is higher than a Flat Fee.

For example, buying a $100 bitcoin may incur you $2.99 flat fee or $2.99 plus a 0.5% spread for a total of 3.49%.

Coinbase Pro’s trading fees are designed in an industry standard tiered structure. It is dependent on the maker/taker status. The fees start at 0.50% and taper downward for higher volume traders based on monthly trading volume. Most retail traders only pay up to 0.5% which is really low compared to other exchanges.

So, if you want to buy Bitcoin and avoid outrageous fees, Coinbase Pro is a good option.

How Can I Buy Bitcoins Without Fees?

Are you aware that the trading fees when you buy Bitcoins could cost a fortune if you continue paying them for years? And do you know that you can actually buy Bitcoin without fees?

Yes, you can if you cut out the middleman. If you do so, you’ll see how much you will save over time by buying Bitcoins with ZERO fees. And that is something that you have to learn especially if you want to be a successful trader.

95% of people are not aware of this and end up paying fees between 0.1% to 7% on all of their transactions, which is quite high. So, how do I buy Bitcoins with no fees?

Here are some options for you.

1. Coinbase Pro

You probably heard about Coinbase already. But do you know that it also runs a less popular trading platform called Coinbase Pro? The second one offers users to buy Bitcoin with low and even zero fees.

Here’s how to do it.

Coinbase Pro offers users two types of trades.

1. Taker Trades. Take someone’s offer to buy or sell Bitcoin at a certain price.
2. Maker trades: You are the original creator of order in the first place. When you are the maker, you can buy Bitcoin without fees!

2. Use no fee cryptocurrency exchanges

Aside from Coinbase Pro that offers you an option to trade with zero fees, there are Bitcoin exchanges that offer crypto trade with zero commission and you can use them to save money. Here are some of the best places to buy Bitcoin with minimal to zero fees.

Here are the best exchanges to trade with no fees.

1. Phemex – Known for its fast trade execution and demo account
2. Crypto.com – The leading digital platform with wide range of digital assets
3. Kucoin – A trusted exchange and very popular for altcoin trading
4. Digitex – A great exchange for crypto day traders
5. Amplify – Highly recommended for beginners and who are new to trading fiat, BTC, ETH
6. Shapeshift – Allows instant crypto swaps with zero fees
7. BLADE – This exchange is backed by Coinbase and other world-class investors
8. Lykke – An innovative digital exchange that offers forex and crypto

Wrap Up

There are too many crypto exchanges available where you can buy Bitcoins. But the top five exchanges are the best places to buy Bitcoins.

We also added more by sharing with you the safest and low-cost Bitcoin exchanges. The best crypto exchange for you depends on your highest priority — security, price, features, or all of them.

Just remember that if you want to save and buy Bitcoin with zero fees then that is possible. Several exchanges offer no fees or zero commission like Phemex, Shapeshift, Crypto.com to name a few.

You will save money in the long run if you work with exchanges that are low-cost or have no fees. However, mind you, the user interface in those exchanges might not be so easy for beginners.

If you wish to learn more about Bitcoins, Bitcoin exchange, cryptocurrency, and more, check our blog.

References

• cryptomaniaks.com/guides/how-to-buy-bitcoin-without-fees
• hedgewithcrypto.com/zero-fee-exchanges/
• cryptocurrencyfacts.com/trade-cryptocurrency-without-paying-fees/
• bitcoinprice.com/gdax/
• cryptimi.com/guides/whats-the-cheapest-way-to-buy-bitcoin
• retirementinvestments.com/invest-100-into-bitcoin/
• quora.com/How-do-I-buy-bitcoin-Can-I-buy-some-or-part-of-a-bitcoin-for-100
• bitdegree.org/crypto/tutorials/cheapest-way-to-buy-bitcoin#cheapest-way-to-buy-bitcoin-what-kind-of-buyer-are-you
• coinbase.com/?clickId=xJEw2IXaKxyLWMiVSrVCvXziUkBTZzQF8xdP1M0
• quora.com/What-is-the-cheapest-place-to-buy-Bitcoin
• quora.com/Where-can-I-buy-cheap-bitcoin
• thebalance.com/best-places-to-buy-bitcoin-4170081
• wikijob.co.uk/content/trading/cryptocurrency/places-to-buy-bitcoin
• chron.com/market/article/buy-bitcoin-online-16194709.php
• crypto.com

With Bitcoin price returning to healthier heights in 2019, a lot of new investors and traders have started entering the market, once again attracted by the potential to make money by investing or trading BTC.

However, a big part of managing cryptocurrencies lies in choosing the best bitcoin wallet. After all, you need to keep your bitcoin safe from hackers, scammers, and other bad actors out there.

There are several different types of BTC wallets, with each type having its own strengths and weaknesses. The choice of which type you wish to use is on you, but we can help you choose the best wallet for each of the types. Let’s start.

What Is The Best Bitcoin Wallet

When it comes to Bitcoin wallets overall, our choice for the best one goes to Coinbase.

Coinbase

As you probably already know, Coinbase is also a US-based cryptocurrency exchange, and the largest one in the country. Apart from that, it is a very user-friendly wallet that makes it easy to store, buy Bitcoins, or sell digital currencies.

Coinbase is quite practical, as it allows you to connect to your US-based bank, and connect your account directly. That way, money transfers are direct, quick, and easy, and you can transfer funds directly to and from your Coinbase wallet.

The wallet does not support a lot of coins, but it does support Bitcoin, which is what we are focusing on today. Coinbase also has more than decent security, as it has never been hacked. Many believe that this is a disadvantage, as a hacking attack causes exchanges to improve their security and make it even better. However, for now, at least, it seems that Coinbase has done everything right straight away.

Best Bitcoin Wallet App

In terms of Bitcoin wallets for mobile, the best choice overall would be Mycelium.

Mycelium

Mycelium is a mobile-only wallet that can store Bitcoin, and it is available for Android and iPhone alike.

Now, one downside regarding this app is that it is a bit more complicated to use, as far as your typical mobile wallet goes. As such, it might not be so easy to handle for newcomers, although experienced wallet users will likely find their way around it quite quickly, Of course, new users can try it out as well, but navigation is generally easier with some experience.

As stated, this wallet doesn’t have a desktop interface, but it still has security that would be good enough for any bank. This security was integrated from third parties, and it makes the wallet that much more secure.

Mycelium is also a good choice for those who appreciate privacy and anonymity, and it will keep your BTC safe, and within reach wherever you go. This also makes it perfect for trading on the go, provided that you have internet access, of course.

Best Bitcoin Wallet For Android

On the other hand, if you are looking for the best Bitcoin wallet specifically for Android systems, then Coinomi Wallet is your best choice.

Coinomi

Coinomi is a relatively old wallet, which was originally developed back in 2015. Since then, it has managed to create quite a solid reputation for itself, and it stores a number of different cryptocurrencies, including Bitcoin.

It is easy to set up and use, and it even allows you to choose which coins will be displayed. This is a handy feature that allows you to only focus on those coins that interest you, instead of viewing all of them at the same time.

The wallet address is generated by using the master seed, consisting of 12 random words which do not, and should not ever leave your phone. This master seed also allows you to restore your balance on a different phone, if something happens to your device. You can also set up your own password instead of a mandatory PIN.

It does have occasional issues with transactions not being confirmed right away, although this happens quite rarely. Also, while the wallet was originally open-source, this is no longer the case, as the developers changed it as of January 2018. This might mean that it is hard to determine whether there are potential bugs or other problems with its code.

Best Bitcoin Wallet for iPhone

If you are an iPhone user and you are looking for the best Bitcoin wallet for your device, we can recommend Edge Bitcoin iOS Wallet.

Edge

This wallet was originally developed under a different name — Airbitz. These days, it is better known as Edge App Wallet, and it is a non-custodial HD wallet, which was developed in 2013, and it has quite a strong development community backing it up.

Obviously, the wallet is quite old, and it has received more than decent reviews over the years. It also has quite advanced security features, which allow it to stand out from the competition.

Those include QR code support, PIN code, the ability to restore the wallet or its keys, Seed words, the ability to import or sweep private keys, an estimation of transaction fees, the ability to add ERC-20 tokens, as well as Segwit support for BTC.

All in all, it is a great wallet, and if you choose to use it, you will know that your coins are definitely as safe as they could get. And, in the end, that IS the purpose of the private wallet, which is why we recommend it.

Best Online Bitcoin Wallet

Now, while the online Bitcoin wallet may be less secure than some other solutions, it is definitely the most practical. When it comes to these wallets, we can recommend Blockchain.

Blockchain

Blockchain is safe, with designs that offer numerous security features. Using a Bitcoin wallet online is more practical because it is always connected to the internet, so that you can easily send your coins to an exchange. With that in mind, Blockchain stand above the rest in terms of popularity, as they are very easy to use.

Blockchain wallets come in the form of a browser extension, although they do have other forms. They also support several coins, Bitcoin included, and are available on pretty much all operating systems. They both also come in numerous different languages, and more.

Best Bitcoin Wallet Desktop

If you are looking for the best wallet for your desktop, however, our choice falls on Exodus.

Exodus

Exodus established itself within only a few years, with advanced security features, but still a beginner-friendly interface. As a result, it serves as a go-to solution for professionals and newcomers alike. It offers over 100 cryptos and more than 30 fiat currencies, which makes it great for users around the world. It also has a version for all of the most popular operating systems.

This is one of the oldest wallets for Bitcoin that you can find on the market. It is very simple and intuitive, without too much to distract you while using it. Of course, that doesn’t mean that it is not rich with features — and you will likely find it to be quite interesting and efficient.

Best Bitcoin Wallet Hardware

Finally, we have hardware wallets for Bitcoin, where Ledger Nano S stands above all else. Hardware wallets are generally considered to be the safest wallets for storing crypto, as they do not have an internet connection at all times. That means that no one can hack it, except in the exact moment when you connect it to your PC in order to transfer funds to and from it.

Ledger Nano S

Ledger Nano S supports a wide variety of coins, and it uses high-security features. However, thanks to an easy-to-use interface, it is still pretty simple to use, and it is quite affordable, as well.

There is not a lot to criticize about this wallet, and if you are careful enough not to lose it, your coins will be as safe as you can get them. Ledger Nano S is used by professionals around the world, and it is the best option for achieving the ultimate security of your cryptocurrencies.

And, the fact that it supports more than 1000 cryptocurrencies is definitely a big plus, and also something that makes Ledger Nano S useful to everyone. While there are 3,000 cryptos on the market right now, the chances are that the coins that most people have invested in are, in fact, supported by this wallet.

Conclusion

As you can say there are different kinds of Bitcoin Wallets and all you need is determine your preferred platform and convenience of use.

Related:

Best Cryptocurrency To Invest, Earn Free Bitcoins Instantly, Websites To Purchase BTC Instantly, Top Bitcoins Faucets, Site To Buy Bitcoins Easily

Bitcoin mining still remains one of the best ways to make a profit in the crypto industry, although it is not exactly easy to do it by yourself anymore.

With the demand being as great as it is, it is much easier to simply join one of the Bitcoin mining pools and help out, rather than try to win the block for yourself.

But, no matter what you try to do, you need two things in order to do it — mining hardware and mining software. Today, we are going to talk about BTC mining software, as well as different pieces of software that can serve as the best choice for different systems.

What Is A Bitcoin Mining Software?

To start off, let’s first cover the basics, such as answering the question of what Bitcoin mining software actually is. As you know, Bitcoin mining is done by providing your computing power to a mining pool to participate in solving blocks and verifying transactions.

Mining hardware is actually what does the mining, but the mining software is also quite an important aspect, as it can connect you to Bitcoin’s blockchain, or to the mining pool. The software’s main role is delivering the hardware’s work to the Bitcoin network. In addition, it also receives all the work that other miners have done.

The software also monitors all of the input and output that your mining hardware does, and it provides you with useful statistics, which include the temperature of the hardware, fan speed, as well as the mining speed and hashrate information.

The software will also require you to set up your own Bitcoin wallet, where it will send all the BTC that you manage to mine as part of your efforts. You can use any wallet that supports Bitcoin, just keep in mind that not all wallets are compatible with all devices.

Also, the security of the wallet is also a very important thing to consider. For example, if your goal is to earn larger amounts of money from mining, you will also need a more secure wallet to store it. The best wallets, as you likely know, are hardware (cold) wallets. If you are only after small profit, however, the online (hot) wallet should do the trick.

With that out of the way, let’s take a look and see what is the best Bitcoin miner app for different devices. After that, you can simply choose which one suits your needs best, and you can start mining coins with the rest of them.

Best Bitcoin Miner Software

Similarly to wallets, different Bitcoin miners need different software. The best Bitcoin miner app for Android will likely not help you much if you plan to use your PC that runs on Windows 10 system. This is why you need to make sure that you are using the best software for different devices, which is what we will discuss today. So, without any more delay, let’s begin.

#1 GroupFabric Bitcoin Miner

One of the best choices for mining Bitcoin on Windows 10 would be to use Bitcoin Miner. This software has a very easy-to-use interface, which makes it a perfect choice for new miners, who are only getting started. Too many other solutions come with a bit more complex interface that assumes that you already have some experience, so if that is not the case — this is the miner for you.

It also comes with several other features, such as a power-saving mode, which is a great thing to have, considering how expensive BTC mining can be, especially when it comes to electricity use. Then, there is also mining pool support, as well as fast share submission.

Of course, it would be very useful for you to automatically know whether you are making a profit by mining or not, instead of just waiting for a while and having your bills grow, only to receive a minimum amount in return.

Bitcoin Miner has got you covered there as well, thanks to its profit reports feature. With it, you will always be able to determine whether your mining is actually earning you a profit. If not, it is time to change your approach.

#2 CGMiner

Our next choice for the best bitcoin miner app for Windows 10 is CGMiner, which is probably one of the best-known, as well as the most commonly used software among the members of the Bitcoin mining community. CGMiner is also the most popular free Bitcoin mining software available for download on Github.com.

One big reason for this is the fact that CGMiner is created on the original code of CPU Miner. Thanks to this, CGMiner is one of the most feature-rich options that you will ever find.

Some of the features that it contains include the ability to control fan speed, which is really useful when it comes to handling cooling. Next, it has remote interface capabilities, CPU mining support, as well as multi-GPU support. Another very useful feature is the self-detection of new blocks.

The software also includes monitoring, overclocking, and a number of other features and operations, as mentioned above. It is definitely one of the best options, although the fact remains that it is likely only suitable for more advanced miners. CGMiner is open source, with the original files stored on GitHub.

The downside of this mining software is its lack of interface. It might not be friendly for beginners, especially if you do not know how to work with command lines.

#3 EasyMiner

Easy Miner is a GUI-based, free and open-source bitcoin mining software similar to CGMiner. You don’t have to shed a single penny to use it because it is free. Plus, it is open-source, so if you are a programmer, you can customize or adjust the mining software to suit your needs.

It’s very easy to extend because it is highly optimized for x86, x86-64 machines and supports the getwork mining protocol. It is very lightweight because it is low on CPU and GPU resources depending on libcurl and jansson.

Moreover, it allows you to mine bitcoins, litecoins, bytecoins, monero and other cryptocoins using only your computer or GPU. It also offers a clean user interface that you can integrate with your cryptocurrency wallet. Also, it features military grade security empowered by round-robin SSD servers to ensure that no one will hack your account and steal your cryptocurrency.

It is designed to focus on the mining process. It’s very easy to use. In fact, you can use it within minutes compared to the countless hours you would waste to configure a bitcoin miner.

It also delivers real-time statistics about the hashrate, total shares and earnings in the past hours for maximum transparency. Plus, it can be your personal wallet management because it provides all the functionality and security of a professional wallet. Unfortunately, it only works with Windows operating systems and ASIC mining hardware.

#4 Genesis Mining

Genesis Mining is the world’s leading hashpower provider. It started at the end of 2013 and the founders initially use it for buying and selling Bitcoin. They were fascinated by bitcoin technology and decided to build their own farm. They came up with the mining idea as a service and it became the first mining farm in Eastern Europe.

Genesis Mining has over two million customers from more than 100 countries worldwide. It also offers over 10 minable cryptocurrencies through six major mining algorithms. There have been over 100 million transactions on the platform since it started in 2013.

It also offers an improved affiliate program that has been renewed, rewritten and revamped. The organization wants to reward its affiliates regardless of their size and whether they are a marketing expert or a home blogger.

The Genesis Mining Team will give you an affiliate code that you can share with your family, friends, and the rest of the world. Every time someone uses the code you will both be rewarded with — a 3% discount on the referral’s purchase and an upgrade of 2.5% hashpower or more for you!

Those in higher tiers enjoy better rewards and will receive more than hashpower because Genesis Mining is also giving away specials gifts. There is a dedicated section on the website for its affiliate page which is accessible for users after logging into their account.

The best thing about Genesis Mining is that it welcomes feedback and suggestions. Their partners are free to reach out to the Genesis Mining Team because they welcome their partners’ ideas to improve the system.

#5 BTCC

BTCC is one of the leading digital asset trading platforms in the world founded in June 2011 in Shanghai. It offers exchanges, mining pools and wallets. It raised $5 million in Series A funding from the Lightspeed Venture Capital in 2013. open new offices in the United Kingdom and other countries.

In 2017, the bitcoins mined by BTCC mining pool for up to 900 million US dollars a year. It already has over 900,000 registered users and more than 430,000 transactions.

Many choose BTCC for a number of reasons like it has a low barrier and has no lockup or investment requirement to join. It has an attractive commission of up to 75%, active marketing support, a user-friendly management system, and tailored-made promotional material. It has affiliate programs too and the members are the first to participate in its online and offline activities and latest products.

#6 CCG Mining

CCG Mining is one of the best software you can use to start mining the most profitable cryptocurrencies and become an owner of the mining rig. It also offers the highest level of hashrate to increase your capital.

It also offers an affiliate program with several benefits — attractive payouts with 6% from each purchased cloud mining contract at the website, instant payments, unlimited referrals earning potential, and multilingual website. Joining its affiliate program is also easy, you simply need to register at the website.

To enjoy the benefits, just activate the affiliate program and get the referral link. Place the referral link on the website. When your referrals by contracts through your referral link, you will get your reward.

To be a successful partner, you can use a website or blog, advertise on YouTube, use social networks to share the affiliate links. You can also communicate on the forums and send affiliate links in the signatures of your messages.

#7 Awesome Miner

This is the complete solution to managing and monitoring your mining operations. It is scalable up to 200,000 ASIC miners and up to 25,000 GPU/CPU miners which makes it a great option for powerful large-scale mining. It is also flexible to cater high demanding operations.

For beginners, it is very easy to use because it has an automatic setup of all popular mining pools and everything is just a click, so you can start mining within a minute. It is also easy to use because it has native overclocking that controls the clock speed, voltage, power, and fan of your GPU.

It includes a built-in web interface that is accessible from any computer, smartphone, or tablet. It has multi-user access and assigns permissions and specific miner access for each user account for security. Moreover, the Cloud Services provides a web-based interface allowing you to monitor your mining operations from any device from any location. It also includes Telegram app notifications for your mobile devices.

The best part of this is that it is completely free of charge with all features and for any number of miners. There’s more, it also offers an affiliate program giving you a chance to earn a commission when you refer new customers to Awesome Miner. It has 10% higher performance for Antminer S9 and 40% for Antminer S17 with improved power efficiency and more features

The commissions are paid for each new sale through its partner Impact Radius which handles all promoting tracking and the payouts can be made via electronic funds transfer or PayPal. You will get a 10% commission for an Awesome Miner subscription!

Conclusion

With that, we conclude our list of the best mining software for different systems. As you can see, most of these mining software solutions are cross-platform options that will let you mine BTC rather easily. Some of them even allow you to mine additional cryptocurrencies, which is great if you wish to diversify your portfolio and go beyond Bitcoin.

If not, you are not obligated to use them, but keep them in mind, if you ever decide to give some altcoins a chance.

Related:

Bitcoin Mining Hardware, How Much To Make Mining Bitcoin, Bitcoin Cloud Mining, Is Bitcoin Mining Profitable

If you have developed an interest in Bitcoin, and you wish to learn how to earn it — you have come to the right place. We have a number of excellent tips that will allow you to start making money with BTC today. All you need to do is figure out which one of our tips seems the most attractive to you.

You can even choose to apply a few of them, which will increase your BTC earnings even more. But, without further ado — here are some ways in which you can start earning Bitcoin right now.

How to Make Money With Bitcoin Mining?

The first method of getting your hands on some of the BTC coins would be to go directly to the source of all Bitcoin using mining hardware. Just in case you are not at all familiar with how BTC mining works, what it is, or how much you make mining bitcoin  — it is a process during which participants in the Bitcoin network verify BTC-related transactions and earn in the process. They do so by solving difficult math problems with their computers.

As they solve the problems, the transactions get verified and confirmed as true. Meanwhile, the participants who solved the problem — miners — receive a reward in the form of new Bitcoin coins. As you can see, the process is quite adequately named, and with your computer acting as a digital pickaxe — you too can become a Bitcoin miner.

How Bitcoin Mining Works

It used to be that Bitcoin mining was quite easy, even if not very profitable. You see, Bitcoin’s blockchain was designed to solve one block per 10 minutes.

Meanwhile, the speed of solving blocks depends on how much computing power the blockchain has at its disposal. If more people start mining, the computing power increases, and blocks would be solved faster.

To prevent this, the difficulty of solving blocks increases, so that the time needed to solve them would still remain at 10 minutes. In the early days, you could have mined thousands of BTC by yourself each day.

These days, however, with BTC price being so high — a lot of people want to mine the coin, and so they had to join up into mining pools. By joining the pool, you contribute your computing power and get a percentage of the reward once the block is solved. The percentage of the reward is as large as your contribution to the total computing power used to solve the block.

In other words, the best way to mine Bitcoin today would be to join one such mining pool. Otherwise, your chances of getting a block all to yourself are slim, and without the right amount of computing power — you would never be able to solve it by yourself, anyway.

How to Make Money With Bitcoin Faucets

Another method of earning Bitcoin would be through Bitcoin Faucets. To put it quite simply — Bitcoin faucets are websites and applications which you can use to get small amounts of BTC as a reward for completing various tasks.

Now, this might sound too good to be true, at first. However, do note that these are no get-rich-quick schemes.

In fact, you won’t get rich, and it won’t be quick, either. The rewards you get may come in BTC, but they come in extremely small amounts of BTC.

As you may know, the smallest amount of BTC is 0.00000001 ฿. This is called 1 Satoshi. Now, Bitcoin faucets might pay you 1 Satoshi per task, or 10 Satoshi, or more. Even so, the amount is still quite small, and their value fluctuates depending on the value of BTC itself.

Still, they are there, they are giving away BTC for small amounts of quick work, and they are still a new, small, and underdeveloped form of making money. It is an interesting concept to explore as you learn about BTC.

How to Make Money With PTC Websites

There are many ways to earn free bitcoins instantly online. PTC or Paid-to-Click websites are another way to earn BTC by visiting websites, watching videos and similar advertising materials, and alike. There are quite a few of those around, and they pay small amounts of BTC, not unlike Bitcoin Faucets.

One of the best known among them is BTC Clicks, and it will let you choose between watching an ad that is 5/10/20 seconds long. Naturally, each of these different ad lengths will be rewarded with a certain amount of satoshi.

So, in theory, if you were to watch 20-second ads for a whole day, you would still make less than $10 per day.

In other words, this is hardly the way to go it you want to get BTC and make a decent profit. But, it is still a method of earning Bitcoin — no matter how small amounts of it you may end up having in return, so we decided to mention it anyway.

How to Make Money Writing About Bitcoin

If you are after some more serious earnings — you could always start writing about Bitcoin, for Bitcoin. There are a lot of people out there who are interested in learning about BTC and other cryptocurrencies, meaning that it can be profitable for a website to have various texts, guides, and similar content about it. If the website’s owner happens to be willing to pay in Bitcoin, you could be the one who will write those texts.

Of course, that would also require that you are knowledgeable about Bitcoin and that you know what you are talking about, The necessary knowledge would include the coin’s history, its behavior, constantly tracking its price and news that are impacting it, and alike.

Even then, you won’t earn huge amounts of Bitcoin, and your pay is likely to vary from one client to another, and it would also depend on the level of expertise and knowledge that you have to offer. It is a good way to start earning BTC if you know a lot about it. Otherwise, you might want to start learning.

How to Make Money Gambling Bitcoins

Crypto gambling is another way to go, although not a very smart or reliable one. In order to profit this way, you don’t only need knowledge about cryptocurrencies, but also about different gambling methods.

Also, as you likely know, gambling tends to depend on luck, quite a bit, meaning that knowledge alone might not be all you need to win some BTC.

Still, it is possible, and there are numerous decentralized applications and websites where you could go and win BTC. Sites like Primedice or Bitstarz are a good place to start if you are interested in this method of earning Bitcoin.

Just remember that the risks tied to crypto gambling are extremely high, which is only to be expected when combining two things that are so risky on their own.

How to Make Money With Bitcoin Trading

Now, one of the most reliable ways of getting BTC would be simple crypto trading. In that regard, you could try day trading or trading bots.

Day trading can still be profitable, as Bitcoin’s volatility remains as high as ever. The price can change suddenly, and go up or down by thousands of dollars.

If you invest enough time into learning about the rules of economics, as well as study the behavior of the Bitcoin market — you to could profit quite a bit by simply buying when the price is low, and selling when it surges up.

Then, there is bot trading, which means that you don’t exactly do the trading yourself. Instead, you use software that you can set so that it would enter trading deals whenever specific, pre-determined conditions are met.

That way, you don’t have to constantly check on the state of the market — you would know that your bot stands guard, even if you are on the go, at work, or doing something else that requires your attention.

3Commas is one of the most popular trading bots these days, and it works on many of the biggest and most popular crypto exchanges. In other words, it is very likely to instantly find BTC for sale or to find a buyer for your own BTC, depending on the situation. It works non-stop, and you can use it on any device that has access to the internet, thanks to the fact that 3Commas is a web-based service.

With it, you can avoid great losses, and take advantage of new trading opportunities, and still have more than enough time to dedicate to other things in your life.

How to Make Money With Accepting Bitcoin as Payment

Bitcoin is a cryptocurrency, meaning that it IS, after all, a currency. As such, it can be used as a method of payment for goods and/or services, provided that you have something to offer.

Basically, you can sell pretty much anything you own and don’t want or care about anymore, and get BTC in return in your Bitcoin Wallet.

You don’t have to go through financial institutions, or banks that might trouble you with numerous barriers and conditions — simply sell things over the internet, and ask for BTC in return.

That way, you could join the ever-growing list of various businesses that are already more than happy to accept BTC. It is also one of the ways to obtain Bitcoin that doesn’t require too much technical or financial knowledge, investment experience, and alike. Simply offer a service or a product, and decide its price. BitPay has platform that allows you to receive Bitcoin as payment.

How to Make Money With Bitcoin Micro Earnings

Micro-earnings are the easiest way to earn Bitcoin. They often do not require a lot of advanced technology or knowledge.

What they do require, however, is time and patience, because these jobs will last a long while, and they will only pay small amounts of BTC, likely only small amounts of Satoshi or even dollars.

These are often small tasks that you have to repeat over and over again, and we have mentioned some of them already — such as receiving messages, watching videos, clicking on links, visiting websites, participating in various polls, and alike.

As mentioned before, these jobs won’t be complex, and they won’t pay much, but they should keep you busy, and let you interact with Bitcoin directly in a pretty safe way. Definitely safer than gambling, but also with much smaller (although guaranteed) payments. A site that you can earn Bitcoin is on Earn.com.

How to Make Money With Bitcoin Micro Jobs

If you have some spare time during the day, you could always start doing micro jobs and get Bitcoin in exchange.

The name says it all — these are jobs that require small amounts of time and pay small amounts of Bitcoin. They might include things like testing a new plugin in order to see whether or not works well with a specific browser.

Another thing that you might be asked to do is to retweet some post. As you can see, these jobs truly only take seconds, and you would be done with them after that, and ready for the next one.

However, while they would likely only bring you a few Satoshi’s — every little bit can help, and you would be on your way of earning enough to start slowly trading BTC — small amounts at first, and then elevate your earnings by buying when the prices are low, and selling when they grow.

If you are interested in seeking out this kind of work, you can always check out Coinworker, which offers many of the tasks mentioned above, as well as many others.

How to Make Money With Buying
and Holding Bitcoins

Finally, we have buying and holding, which is the best way to get profit from BTC, according to some of the greatest experts in the crypto industry. Bitcoin’s current price is way lower than the largest price it has ever achieved. In other words, there is potential for the coin to at least reach that same price once again, if not an even higher one.

This is how most people in the crypto industry think. To them, the best way to earn profit would be to simply buy coins now and hold them for a few years. By then, their price will have doubled, tripled, quadrupled, or grown even more than that.

Imagine being the guy who bought BTC when it was a fraction of a cent, and decided to keep it in some wallet. Imagine forgetting about those coins for 8 years, and then one day, hearing that each of those coins is now worth $20,000.

Cashing out at that moment could make you a millionaire, almost instantly. This is the power of HODLing, and while BTC price is at around $8,500 right now — experts say that it could be worth $100,000 per coin someday.

Those who have bought it before or even those who buy it now and decide to HODL could see major gains in a few-years period. It is definitely worth considering.

Conclusion

And that is it. These are the best ways in which you can earn Bitcoin, buy Bitcoins, get or profit using mining from Bitcoin. As you can see, there are number of different methods, and all you need to do is take your pick, explore a bit, and start making a profit.

Whether your earnings will be large or small — depends on the method you choose. But, whatever you decide to do, the very fact that you are engaging with Bitcoin will give you a big advantage someday, when cryptocurrencies reach mass adoption.

Related:

Best Cryptocurrency to Invest, Bitcoin Cloud Mining Review, Ways Make Money With Bitcoin, Best Sites To Buy Bitcoin

Sources:

• quora.com/How-can-l-find-a-legit-PTC-site-that-pays-in-Bitcoins
• ig.com/en/bitcoin-btc/how-to-trade-bitcoin
• investopedia.com/articles/investing/102214/how-bitcoin-casinos-work.asp
• forum.bitcoin.com/micro-earnings/
• medium.com/@freebit/best-micro-job-online-paid-btc-58a559d7c5e6

If you have developed an interest in Bitcoin, you are far from the only one. Millions of people around the world have gotten into the cryptocurrency space in the last few years, and most of them have come into contact with BTC at some point during that time.

Bitcoin is still the largest, strongest, safest, and most dominant cryptocurrency in the world, and there is no indication that this will change anytime soon.

However, Bitcoin also has flaws, and its volatility is likely one of the biggest ones among them. However, that doesn’t mean that you can’t make a profit by trading it. BTC price tends to move down a lot more than it moves up. As such, buying BTC for the purpose of traditional trading won’t get you very far.

The only other alternatives you have are to invest and HODL or to short Bitcoin.

What Does It Mean To Short Bitcoin

Simply put, shorting Bitcoin is a form of trading, which is much closer to betting than actual trading.

With Bitcoin’s price being extremely volatile — once it starts dropping, it is likely that it will keep dropping for a while, and only see surges from time to time. If you buy it when its price is relatively high, you are doing so in expectation of growth. When it grows, you can sell it and make a profit.

However, what if you bought it and its price started to drop, and then just kept dropping lower and lower? Selling it right away will bring loss, rather than gains. Waiting for a few days will likely make the situation worse.

However, if you decide to short it, you can still make a profit. Shorting is a type of trading where you sell Bitcoin futures contracts. It is a pretty simple concept to grasp — if you believe that BTC price will keep dropping, you can bet that it will have a lower price in the future. If your guess ends up being right, you make a profit.

If your guess about its future price ends up being correct, your gains would be several times higher. However, margin trading also increases the risk of you losing your investment, as you have less room for being wrong.

So, on the one hand, there are magnified rewards. On the other, there is also a much greater risk. This is why margin trading is only meant for the risk-takers who also know what they are doing and can afford to lose their investment if it comes to that.

How To Short Bitcoin

There are several ways in which you can short Bitcoin. Every method requires you to contact either a trading agency, or a platform that offers short-selling services, and place a short sell order.

They will then use their own supply to sell BTC, and you can repay them for doing so in the future. Hopefully, by the time you have to repay them, the BTC price will be lower than it was at the moment of the initial sale.

So, basically, if you short 5 BTC when its price is $10,000 per coin, you get $50,000. If the price drops to, let’s say, $8,000 by the time you have to repay the platform/agency, the same 5 BTC will cost $40,000, and you will have earned $10,000.

Today, we are interested in the last option, which is short selling on crypto exchanges, and we have come up with three exchanges which are considered to be the best for doing so. Let’s see how you can short Bitcoin on each of them.

1. How To Short Bitcoin On Bitfinex

Provided that you are located in an area supported by Bitfinex and that you have an account within the exchange, opening a short position should be quite simple. In fact, Bitfinex has clear instructions on how to do so, which you can find on their website.

All there is to do is to follow a few short steps:

1) Go to the Bitfinex Trading page, and choose a trading pair you wish to short, and then proceed to the Margin section.
2) Create your order by choosing the type and specifying the amount. You can also specify certain options for margin funding, although this remains optional.
3) Click on ‘Margin Sell’ to place your order, and the system will take care of it automatically.
4) You can close the position with a close button, or simply place Limit Margin Buy order of the same amount of BTC as your order. Once the order is filled, the borrowed funds will be returned to Bitfinex, and your gains/losses will be credited to your wallet balance.

As you can see, the process is mostly automatic and rather simple, and all you really need to do is specify certain aspects and conditions of your order. After that, it all depends oh how the market value of BTC will perform.

2. How To Short Bitcoin On Binance

If you are a Binance user and you wish to short BTC on this exchange, the process is not that simple, since Binance doesn’t actually offer pure shorting. Instead, you can use its relatively new margin trading platform to trade with leverage. Once again, the real issue is whether or not your prediction regarding the price of Bitcoin will be accurate.

So, assuming that you have an account on Binance’s exchange, you should log into it and hover the mouse over your profile icon in the top right corner of the screen. You will see the first two characters of your email address, and once the dropdown menu opens, you will need to click on your email to access the dashboard.

At this point, you should be able to see your account balance, and below ‘Balance Details,’ there should be an option called simply ‘Margin.’

Clicking on it will start the process that will result in the opening of your Binance margin trading account. Just like a regular trading account, it will require you to go through identity verification. Simply follow the instructions, and you should complete the process quickly enough.

Next, you will have to transfer your funds from your regular Binance account to the margin trading account. This is also quite simple, and all you need to do is click on the Wallet tab, then on Margin, and then on Transfer. Choose the coin, enter the desired amount, and click on the yellow button that says ‘Confirm transfer.’

At this point, you will be ready to submit your short order, and use your coins as collateral for borrowing funds. Your new Margin Wallet will calculate the amount that you are allowed to borrow, depending on how much money you have stored within. The rate is fixed at 3:1 (3x), meaning that owning 1 BTC will allow you to borrow an additional 2 BTC, but not more than that.

You will get your borrowed funds, and you will be able to start trading. On the right, you will see the margin level which warns you of the risk level, which will change depending on your total debt towards Binance, and the funds you have in your wallet as collateral.

To start trading, go to the Exchange page, and choose the next tab that says ‘Margin.’ After that, simply trade your coins as usual, and repay your debt after making a profit.

3. How To Short Bitcoin On Bitmex

Finally, we have BitMEX, and if you are interested in using this exchange for shorting BTC, you can do it without a lot of issues. You need to start by creating an account if you don’t already have one, which can be completed quite quickly.

After that, make a deposit in BTC, and you will be ready to start shorting Bitcoin.

Start by selecting the cryptocurrency to invest or that you wish to trade in, which is going to be Bitcoin. Next, there are different types of futures trading options, but you should make sure that you have Perpetual selected, which should be a default option, but it is best to make sure.

After that, it is time to place your order. You can choose between a Market order and a Limit order, and the difference between the two is that Market order will execute your order instantly and automatically at the best buy/sell price, which brings the speed of execution, but it does come at a slightly higher fee than Limit order. The choice is yours, but to save up on fees, you might want to consider selecting the Limit order.

Next, there is the quantity field, which will select the number of contracts you want to include in the transaction. The contracts are presented in USD, where 1 contract represents $1. This is the amount of money that you will be working with, with or without leverage. As mentioned, adding leverage will bring greater gains as you are basically borrowing more funds, although you are exposing yourself to more risk of getting liquidated.

Conclusion

As you can see there are ways to still earn from Bitcoin if you think its price will go down. If you follow our tips here on how to short sell Bitcoin, you can still earn profits.

Do you have reactions and insights on our post, please share to us in our comment form.

Related:

Websites To Purchase BTC, Earn Free Bitcoins Without Investment, Best Cryptocurrency To Invest, Best Popular Sites To Buy Bitcoins Instantly, Ways To Make Money With Bitcoin

Sources:

• investopedia.com/news/short-bitcoin/
• thebalance.com/how-to-short-sell-bitcoin-4155773
• ig.com/uk/trading-strategies/how-to-short-bitcoin-190115
• medium.com/@alexcav/how-and-where-to-short-bitcoin-29e51564a489
• 99bitcoins.com/short-sell-bitcoin/

Bitcoin is by far one of the most popular cryptocurrencies today. Aside from this, there are a lot of altcoins available for long-term investment that will surely give you massive profit.

Most of them are profitable, but it doesn’t work the same. So, you have to be careful when it comes to choosing what cryptocurrency to invest in. If you are planning to invest in cryptocurrency, you can do so. Here’s a list of the best cryptocurrency to invest in.

1. Bitcoin (BTC)

It’s impossible to create a great digital currency list without BTC because it top digital currencies. Bitcoin is the first cryptocurrency and it is very popular due to its value. If you are interested in purchasing bitcoin to earn from it, you have to see it as a long-term investment.

Bitcoin is volatile, you can’t predict its price. Today, you might be grinning from ear to ear due to its high price and tomorrow you might find yourself shock at how sudden its value drops. Although this is a great investment, do not expect that things will just go fine all the way.

In fact, the price of bitcoins has plunged several times, but it has managed to remain as one of the forces to reckon in the crypto world because it’s the best cryptocurrency. Many people believe that the first remains the best and this seems to be true with BTC. This cryptocurrency is expected to be relevant for a long time.

A number of The good thing with Bitcoins is that it has been recognized by different retailers and services. In fact, hundreds of businesses accept BTC as payment. Among the major retailers that accept bitcoins are Overstock.com, Expedia, eGifter, Newegg, Shopify stores, Dish, Roadway Moving company, PizzaForCoins, Intuit PaybyCoin Services, and Microsoft to name a few.

However, you should take note that you need heavy backing in terms of funds in order to appreciate the gains when you trade Bitcoins.

As of this writing, bitcoin is equal to $7,601, according to Wallet Investor. However, after a year, it is expected to be $42, 190. 30. If you will keep this as a long-term investment, you will gain more. A 5-year investment promises you a +455.05%. revenue. If you make a $100 investment for BTC today, it will be $555.05 in 2023.

2. Ripple (XRP)

Ripple is on to great things. In fact, those who invested in this in 2017 are definitely smiling as of this writing. That is why Ripple is among the best cryptocurrencies that you can invest in.

Others might find this digital currency unattractive due to its low price. However, the same reason makes it appealing to long-term investors.

Ripple has a total market capitalization of about $35 bln, so it has a lot of potentials. Ripple is one of the best cryptocurrency to invest in 2018.

According to Cryptocomes, if the total crypto coin market cap reaches to $1.5 trillion, there won’t be room to develop for Ripple. Blockchain can still be risky. If something goes wrong with the transactions, the value of the coin will fall. Therefore the Ripple 2018 price prediction is relatively humble.

3. Ethereum (ETH)

Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality. This is generated by Ethereum platform and it provides a decentralized Turing-complete virtual machine.

Ether is a fundamental cryptocurrency for operation and is used to pay for gas, a unit of computation used in transactions and other state transitions. This is cryptocurrency is listed under the code ETH. This is used to pay for transactions and computational services on the Ethereum network.

Ether is a promising cryptocurrency. In fact, its price skyrocketed by almost 3,000 percent in 2017 as it hovered around $720 with a market capitalization at $70 bln. At the time, its price in the market has almost doubled, so is its crypto coin market cap. So, this is definitely calling you to invest in it.

“I just got back from the Bitcoin Miami conference and Ethereum is worth close to a $1,000. When I went to the same conference the year before it was $8 to $12,” said Matthew Gertler senior analyst at Digital Asset Research told International Business Times.

“If anyone had said to me at the time that the high would be a $1,000 or more, I would have thought that they were crazy. I’ve been incredibly surprised over the past year. So I don’t have a high price expectation [for ether]. In terms of a low [price], I don’t have a bottom either.”

4. Litecoin (LTC)

Litecoinoffers a Bitcoin-like experience as it is also a peer-to-peer cryptocurrency except for the high fees. Just like Bitcoin, this also experiences an increase from $4 to $358 in 2017. However, this year, it crash to almost 100 earlier this year, but the coin persists.

The good thing with Litecoin is that it constantly improves the technology of Bitcoin. For instance, if Bitcoin completes your transaction in 10 minutes, Litecoins will do it faster in 2 minutes and 30 seconds. Also, while the cap of Bitcoin is fixed at 21 mln, Litecoin takes it higher at 84 mln. In 2017, it completed a Lighting Network transaction by transferring a fraction of a Litecoin in one second.

LTC is a great long-term investment. According to Walletinvestor.com, this cryptocurrency is a profitable investment option. As of this writing (2018-07-31), Litecoin is worth $77.465. If you buy Litecoin for $100 today, you will get 1.291 LTC. Based on its forecast, there will be a long-term increase.

By 2023, the LTC projected price (on 2023-07-27) is $680.910. With a 5-year investment, the revenue is expected to be around +778.99%. So, your $100 investment may end up to $878.99 in five years.

5. ZCash (ZEC)

ZCash is the first open, permissionless currency that fully protects the privacy of transactions using zero-knowledge cryptography. This is a decentralized and open-source cryptocurrency that provides strong privacy protections.

It features shielded transactions that hide the sender, recipient and value on the blockchain. If Bitcoin is like http for money, ZCash is https – a secure transport layer.

ZCash brings fungibility to cryptocurrency by unlinking shielded coins from their history on the blockchain. Is pioneers the use of zero-knowledge proofs by applying cutting-edge cryptography to blockchain technology.

The zero-knowledge proof allows fully encrypted transactions to be confirmed as valid. This new property will enable the entire new classes of blockchain applications to be built.

With this cryptocurrency, users can enjoy the advantages of using a public blockchain while still being sure that you are protected and your information is private.

ZCash’s price was fluctuating heavily from $220-$330. For 2018, the most realistic forecasts suggest that this can reach between $554 or $2,100 and higher.

If ZCash doesn’t get that high it will still likely reach $200 in 2019. Wallet Investor gave a more positive forecast in 2020, with a price range from $370-$2,222. In 2025, its cost can grow to a minimum of $2,037 and in the best case between $2,500-$8,800. Some investors claim that it can even reach the threshold of $60,000.

6. Dash (DASH)

Digital Cash is formerly known as Darkcoin and XCoin. This revolutionary digital money system is an open source peer-to-peer cryptocurrency and decentralized autonomous organization (DAO). It features instant transactions, private transactions and a self-funded, self-governed organizational structure.

As of this writing, Dash is priced at $216.599. If you invest $100 in it, you will get a total of 0.462 DASH. Based on WalletInvestor’s forecast, by 2023, Dash is worth $2,238.680. With a 5-year investment, you will experience a revenue of around +933.56%. In 2023, your $100 investment will be $1,033.56.

7. Monero (XMR)

Monero is another great altcoin. Unlike most digital coins, this uses a special technology called “ring signatures” that shuffles users’ public keys to eliminate the possibility of identifying a particular user.

Monero employs a specific protocol that generates multiple unique one-time addresses that can only be linked by the payment receiver and are unfeasible from blockchain analysis making it analysis resistant. Since Monero is untraceable and unlikable, it is more secure and private compared to bitcoins.

XMR is another great long-term investment. At the time Monero is $123.6. Based on Wallet Investor’s forecast, in a year the price of XRM will go up to $1044.190 and in five years the revenue is expected to be over 744.82%.

8. IOTA (MIOTA)

The IOTA token was created to service the “Internet of things.“ IOTA is a permissionless distributed ledger for a new economy. It’s free and open-source and safer than blockchain.

IOTA’s distributed ledger’s transactions are not grouped into blocks and stored in a sequential chain. In contrast, the stream of individual transactions in IOTA is entangled together. This structure enables for high scalability. The more activity in “The Tangle” the faster the transactions can be confirmed.

With IOTA distributed ledger, every connected machine can maintain its own virtual wallet and transact with other connection machines without fess. In 2025, over 75 billion devices will be connected to the internet of things.

At the time, IOTA is worth $0.931m but a longer-term increase is expected. After a year, WalletInvestor predicted that it will cost $5.900. In five years, IOTA will be worth $633.64.

9. NEO

Neo is a blockchain platform and cryptocurrency that is designed to build a scalable network of decentralized applications. NEO token generates GAS tokens that can be used to pay for transaction fees generated by applications on the network.

Neo is often called the “Chinese Ethereum,” but this is different from Ethereum. Neo is expected to eventually operate with its sister company OnChain. Working together will allow them with unprecedented reach and usage.

At the time, NEO’s price is equal to $30.053. Based on the forecast, this coin will be $169.193 after a year. With a 5-year investment, your revenue is expected to reach +462.98%. So, if you invest $100 for this coin today, it will be $569.98 in 2023.

Meanwhile, Smartereum gave a higher value for this coin in its forecast. The site predicted that Neo’s price will be around $355 by the end of the calendar year 2018. Furthermore, its five-year forecast is around $1,275.

10. Nash

Nash or Nash Exchange (NEX) is a platform for high-performance decentralized exchange and payment. The crypto is originally known as Neon Exchange. It leverages an off-chain matching engine to enable faster and more complex trade across multiple blockchains such as NEO and Ethereum. It also handles complex order types that are not currently available on other decentralized exchanges such as market and limit orders.

This cryptocurrency handles high trade volume with its unique publicly verifiable off-chain matching engine. Its payment service enables third-party smart contracts on NEO to send and receive global assets such as NEO and GAS as part of their computation. So, investing in Neo is a good decision.

The Nash wallet extension underpins the NEX ecosystem and allows for quick and seamless coordination between NEX, dApps and websites. To make things better, this cryptocurrency allows for cross-chain trading by giving you the opportunity to trade tokens based on the NEO and Ethereum networks.

According to Price Prediction, the price of NEX will double in the second quarter of 2019 and will quadruple in the fourth quarter of 2019. By 2020, its value will be five times its price today and will increase up to eight times in the fourth quarter of 2020. That prediction is only within 2 years. The publication noted that your revenue will be 10 times if you invest in this token in 5 years.

Conclusion

There are a number of cryptocurrencies in the market that you can invest in. Bitcoin is one, but there are other alternatives that you might not be aware of. The list above aims to help you discover the altcoins that are as good as BTC.

If you wish to learn more about cryptocurrencies like Bitcoins, feel free to visit our homepage.

References

• cryptocomes.com/10-best-cryptocurrencies-to-invest-in-2018
• bitdegree.org/tutorials/best-cryptocurrency-to-invest/
• quora.com/Whats-the-best-cryptocurrency-to-invest-in-long-term-Why
• cryptowisser.com