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Bitcoin's origins It all started around 2008, when a person or a group of people - so far no one knows any details about it - created the famous cryptocurrency. The pseudonym of this man (or several) is Satoshi Nakamoto. About ten years ago, however, this figure permanently disappeared and no trace of him remains... well, except maybe the cryptocurrency that is bitcoin. Before we move on to how to make money through it, it is important to clarify a few important points, so that later you can better understand the principle of all transactions. Check out our ranking of cryptocurrency platforms Bitcoin and cryptocurrencies - what should you know? What is a cryptocurrency? According to Wikipedia, we are dealing with a distributed accounting system based on cryptography, which stores information about your holdings in contractual units. In other words, it is a currency that holds a certain value, but at the same time is completely independent from the actions of individual countries and global banks. An extremely important feature of bitcoin is that it therefore belongs entirely to the public and no government can regulate or influence it in any respect. Cryptocurrencies are available to everyone in the globe, regardless of where they live. The cryptocurrency market is therefore extremely vast and diverse, and users who choose to transact through them appreciate the equality of all towards bitcoin. Bitcoin, interestingly enough, does not have to be purchased in full. This is very good news mainly because 1 BTC is now worth tens of thousands of dollars. Bitcoin is divided more or less the same way as many other currencies - into slightly finer units. While money such as the zloty or the dollar is divided into a hundred parts, here we are dealing with a division into - attention - as many as one hundred million Satoshi! This allows you to buy exactly the part of bitcoin you want. It is equally important to know that bitcoin is constantly changing its value. This is due to its novelty and the fact that it is a completely new phenomenon that has yet to be domesticated in some way in our society. As the value of bitcoin is constantly changing, the official website of this cryptocurrency warns against accumulating savings through it, risking the loss of huge funds. Check out the current best banking promotions Why is bitcoin so popular? At this point it is worth answering the question as to why more and more people are choosing to invest in bitcoin despite the risks involved. First of all, we are dealing with a system that allows secure transactions that are relatively anonymous, and above all, independent of any government or bank. These transactions do not require the participation of any intermediaries and are therefore extremely profitable in every way. It should be remembered, however, that this is a matter not yet very well regulated by law, and a given "transfer" cannot be revoked. When using the services of a regular bank we happen to make a transfer to the wrong account, we can successfully apply for a refund of these funds. In the case of bitcoin, unfortunately, we must be prudent, and in a not very pleasant situation count on the kindness of the recipient of an unwise, hasty transaction. Many people also appreciate cryptocurrencies in terms of earning from them - in any social media you can come across many posts suggesting how profitable it is. And indeed - if you look at the bitcoin exchange rate, you might get the impression that it was an ideal investment some time ago. Admittedly, the bitcoin exchange rate dropped significantly at one point, but then it started to rise and until now it has been breaking new records. At the time of writing this article bitcoin costs over two hundred thousand zlotys, while not long ago the price was ten times lower. Its value is constantly growing, so we can expect it to increase several times in the coming years. It may therefore seem like a reasonable investment. However, bitcoin is such a new phenomenon and not yet fully tamed, that no matter how high its value rises, we have to be prepared for some surprises in the form of exchange rate collapse and its significant drop. bitcoin miners Bitcoin and cryptocurrencies - controversies Before you learn how to start making money with cryptocurrencies, it's worth saying a little more about the controversy they've stirred up in society. During the first years of bitcoin's immense popularity, many people accused its holders of using the currency largely for shady, not entirely legal transactions that take place in the dark corners of the internet, the so-called darknet. Some banks and government organizations have launched campaigns to make people aware that investing in cryptocurrencies is unwise and you can't make money on it. However, there is not the slightest doubt that the image of bitcoin has undergone a huge, significant warming in recent years. One reason for this is that it can be used as a means of payment in many places - this decision has been made by PayPal, for example. Bitcoin is suitable for payment in this way admittedly only in the United States, but it seems that soon the situation will change and in every corner of the world we will be able to use bitcoin for payment purposes. How to make money with cryptocurrencies - mining One of the most popular ways to make money with bitcoin is to mine it. In English the term is "mining" and is somewhat rightly associated with mining, as the person mining bitcoins is simply called a "miner". If you want to learn how to make money through bitcoin mining, we are here to help. It is important to remember that prudence and common sense is important when it comes to this method of acquiring bitcoin. The basic thing is to buy a suitable, efficient digger that will meet your needs. Before you decide to buy such equipment, you should use special calculators and calculate what purchase will be most profitable for you. With an eye on a particular model of excavator, we need to find out whether it is worth buying it at all. The calculator will calculate when you can expect the so-called breakthrough moment, that is, when the investment will pay you back. More and more often there is a situation when the costs put into the excavator are unfortunately disproportionate to the profits, so reasonableness is so important. In addition to the cost of the excavator itself, you should also take into account the cost of electricity that you will have to incur in order to interact with the bitcoin mined by yourself. bitcoin miners How to start making money on bitcoin by selling it on the exchange? We are well aware that bitcoin mining is not a pastime for everyone. There are other ways to make money on this cryptocurrency, in a slightly more reasonable and simpler way. We are talking about trading bitcoin on an exchange. The matter is seemingly simpler, and describing it is undoubtedly a much more graceful task than explaining how bitcoin digging works. In order to make money by selling this cryptocurrency on an exchange, all you need to do is create an account with a broker of your choice and then make a purchase of bitcoin. Once purchased, bitcoin is already our property, which means we can manage it in any way we choose. However, to make money by selling bitcoin on the exchange you should wait a bit and hope that in the near future the exchange rate of this currency will rise significantly, allowing you to make really decent money. This seems to be a low risk trade at the moment as there are no signs of bitcoin going down in value, but it is still worth being aware that it is not 100% certain. In order to make money with bitcoin you will need a bit of luck in addition to some intuition. If the exchange rate rises enough to make the sale of the bitcoin you bought profitable, you can have the satisfaction of a perfectly executed investment. This is a very pleasant feeling every time. Check out our ranking of cryptocurrency platforms Bitcoin - how to make money on speculation? Digging bitcoin and trading it on an exchange are not the only ways to successfully earn money. Some time ago on the market of financial services appeared the possibility of the so-called contracts for difference. What does it consist in? To earn in this way, you need to take some risk, as it is well known to all those who have ever tried their hand at, let's say, betting on the results of sporting events. Here the case is very similar. We take a bet with a Forex broker, the rules of which are very simple: you bet whether the price of bitcoin will rise or fall, and the losing side has to pay back to the winner the difference in the value of the purchase price and the sale price. Yes, it can be very risky, but it is a very simple and transparent system with very little risk of fraud. If you buy bitcoin you have to take into account the possibility of a hacking attack on your assets, in this case all you have is a document with the rules of the bet you made with the broker. Making money this way is not difficult, it only requires
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