What if you could earn bitcoins every 30 minutes with the least amount of effort? That is the point of BitMaker. It’s a form of advertising where the viewer of the ad also gets paid in the process.
BitMaker is a Bitcoin-powered mobile application developed by Seattle-based blockchain adtech and payments company CakeCodes.
First of all, you need to download the BitMaker app from Google Play Store. Then sign up and create an account along with a Bitcoin wallet, in case you don’t already have one.
BitMaker sends bitcoins directly to your wallet. You must update your wallet address each time you receive a bitcoin payment.
How does it work?
Users just have to try out other mobile applications or fill out forms of free trials for various products and services. Users are rewarded with in-app tokens called “Blocks”. These blocks can be converted to bitcoin or ether once it reaches a certain threshold.
When you open the app, you’ll be presented with a percentage that will slowly increase. When it reaches 100%, you earn 500 Satoshi. Since you get paid this amount every 30 minutes, you earn 24,000 Satoshi every day.
As you can see in the above screenshot, there is a timer. The counter begins at 30:00 and when it reaches 00:00, an ad is displayed after which you get paid.
Fortunately, the app has both “day” and “night” modes. In the day mode, the ad has an audio whereas at night they’re just silent videos.
How does BitMaker pay you?
If you keep earning enough Satoshi and meet the withdrawal threshold, BitMaker will pay you every Saturday. Withdrawing your rewards is very easy, all you need to do is update your Bitcoin Wallet address then click on “Withdraw”. You will get your rewards deposited to your Bitcoin Wallet the following Saturday.
The weekly reward for Satoshi changes every week since they are in line with the Bitcoin trade prices. You can earn more Satoshi by completing offers which offer more number of free bitcoins.
Since its launch in September 2014, BitMaker now reports it surpasses 250,000 active monthly users across 187 countries.
According to the BitMaker website, the app has paid out over 215 bitcoins and 34 ethers up to this point. This amounts to over $275,000 worth of payouts at current exchange rates.
On April 30th, CakeCodes is launching an equity crowdfunding campaign for BitMaker on Wefunder. CakeCodes intends to use the money from the Wefunder campaign to increase user growth, fast track development for an iOS app and add new features to the existing Android app.
“Nearly $600 billion is spent on global advertising, and yet many ads are simply ineffective,” said Simon Yu, CEO of CakeCodes. “Advertisements are everywhere and people automatically tune them out. We wanted to combat this by giving consumers the option to opt in and get paid for their time used on trying a new product. With Bitmaker, end-users get paid, businesses only pay upon engagement, and customer acquisition costs are dramatically decreased. Everyone wins. What we’ve done is create a simple, fun way for consumers to be rewarded for trying cool new products.”
By creating its own entity and reputation blockchain finally enter to the typical awareness in 2017. No doubt, blockchain has the capacity to change industrial operating models. Whereas, the distributed ledger industry grew up throughout the year. However, most of the companies are still stuck in survey phase. In addition, are unable to bring fascination into the reality because they are charmed by its beauty.
The primary application is still in banking. 15% of the banks have the plan to put blockchain into the commercial production by 2017. Whereas, 91% of banks are investing in blockchain technology. The world economic forum estimates that 80% of banks are actively working on blockchain technology.
Technology is evolving, $1.4bn invested in blockchain technology startups across different sectors. Whereas, it is not only financing that blockchain is set to disrupt.
Investor look more use cases
Funding to blockchain increases day by day. According to the latest report of KMPG and GB, plus of fintech Q3 ‘16’ investment of this technology fell to $87 million in the third quarter of 2016. $119 in the second quarter and $153 in the first quarter. This is expected thatThe fall specifies that investors are beginning to grow anxious that exploration is not translating into action. In addition, excitement remains the same, this is what the report said.
The report says, ‘To-date, however, the ability to move blockchain from proof-of-concept to adoption and production has been minimal. While the market is still giving blockchain companies plenty of room to prove themselves. Investors are also becoming more concerned about results’. In addition, ‘Over the next year, investors will make more rational assessments of where the main use cases associated with fintech are and how long it will be before they are implementable.’
Growth in Asia
In North, Asia blockchain has received more attentions as compare to other. Where a number of the financial institutions are investing in blockchain related projects. In China, with record breaking of fintech investment, increases for each of the past four quarters. And, there is still a room for growth in Asia in 2017. Accordingly, KPMG China’s fintech investor and innovation partner say that investor is still interested in investment. Not only in massive rounds CV investors are investing in small blockchain technology companies in Asia. Few of them companies are at the second or third round of funding. These small projects are starting to lead the large investment. A Chinese investor has made an investment of $1.7 million for Taiwanese startup Bitmark. A trend may continue in next year.
Companies like Uber and Airbnb provide the services by linking consumers with their needs. They are still playing the role of the middle person. Accordingly, they still take a cut. Whereas, blockchain is entirely different from all this. It has the ability to remove the middle person from needs and its satisfactions. Which clearly means that someone needs take their full dues.
For example, arcade city is the new ride-sharing app that connects the customers with drivers by using Ethereum blockchain. Christopher David, Arcade city’s driver, a former Uber driver says that ‘The Achilles’ heel of Uber and Lyft is their centralized management of pricing. By decentralizing that decision to the level of the driver and rider, Arcade City frees the driver to be an entrepreneur and empowers the rider with control over their entire experience. Both drivers and riders are loving it so far’. May of this year, Arcade city become first in blockchain startup at GTEC awards.
In the same way, blockchain allows an artist to upload, sell or market their work without any middle authority. Edith Suarez of CNN discuss about the blockchain transparency, which other platforms failed to provide, ‘Music is placed in the decentralized server, then each song is embedded with a piece of code (meta information) […] [When people download] a track with a cryptocurrency, a payment is automatically sent to anyone involved, be it the writer, the producer, the singer, as well as many others.’’
Now, government and establishment fail to maintain their trust in the public. In that scenario, public related information should be held in transparent easily available manner. Where anyone will have the ability to verify the ledger and also have the copies of that data.
Most of the countries in the world want to move their currencies to blockchain trend. And, they are also exploring the other areas of the government. A prominent example of this year is, Governor Jack Markell, announce two blockchain initiatives. Whereas, Estonia use the blockchain technology to enhance an e-residency program. In addition, anyone from anywhere in the world can apply to become e-resident of Estonia.
Environment takes shape
In 2016 Japan’s legislatures pass a bill to regulate bitcoin in a country. Furthermore, with the adoption and popularity of bitcoin, they have a plan to focus on security and other risk issues. While regulators are trying to provide a transparent system. Not only Japan is starting working on digital world but US, South Korea and many more countries trying to provide a transparent system to the public.
Education and collaboration
Education is the biggest challenge while blockchain is still new in market trends. There are security issues, companies must not put off or panic if proof of concept does not reveal themselves immediately. They are going to improve their work and understandings with other companies. Early adopters of any technology get benefits. That is why organizations need to know how they can use blockchain technology as soon as possible.
Along with being accessible through networks such as Tor and I2P, Monero implements various cryptography techniques to unlock an extensive level of security and privacy:
1. Untraceable Stealth Address
As we all know, reusing the same address for bitcoin transactions is a common privacy issue of Bitcoin. Receiving or sending multiple transactions to the same address can allow anyone who knows your address to track its activity. Thus, bitcoin is not a tool that should be used on the darknet, especially for privacy purposes.
On the other hand, Monero has no such privacy concerns. Monero’s blockchain is secured in such a way that only the sender and receiver are able to identify the destination address. Only a unique cryptographic hash is provided, to each and every transaction that can be decoded by just the send or receiver to disclose the real address. These encrypted addresses are called “stealth addresses.”
Related: Bitcoin’s current price
2. Unique Separated Transaction Units
When you send XMR to any address, it arrives as several separate payment units. Basically, each unit would appear on the Monero blockchain as being transferred to its appointed and distinct stealth address. This process is applied to the sender as well as the miners when any fees are paid to them. This makes tracking of any transactions far more complicated.
3. Undetectable Ring Signature Payments
Ring Signatures is another technique that adds up to the cryptographic system behind Monero’s blockchain.
Just to be clear, similar to Bitcoin, Monero also consists of a public and private key in order to engage in buying or selling of XMR.
For example, if you are to send 18 XMR to a shop, the XMR get sub-divided into 10,5 and 3 XMR streams, these flow into distinct Monero addresses of the ship. The private key that authorizes any 10, 5 and 3 streams sent across the network, becomes a possible signatory to the transaction. The number of possible signatories is dependent on the “mixing depth” you set. As your transaction splits into units, ring signatures guarantee that transactions can’t be stalked back to any system’s IP address.
In the end, it’s almost impossible to track or identify Monero users
These 3 techniques provide maximum privacy and prevention from roaming trackers. Monero’s code ensures the anonymity of every user and leaves barely any possibility of a linkage to take place.
Related: Read more about Altcoins
Before discussing the legality, we’d like you to know exactly what is Bitcoin mining is and how does it work.
Bitcoin mining illegal refers to the process of adding transaction records to a public ledger called Blockchain. In this ledger, every single Bitcoin transaction is recorded, and the record is always open for the public access. The record of these transactions is organized into blocks.
The creation of these blocks is what Bitcoin mining is based on. Every time a new block is created, it is added to the Blockchain for public to see it. However, it does not reveal the identity of parties involved in the transaction.
The block creation is done through solving mathematical algorithms using powerful computers.
So Why Would It Ever Be Considered Illegal?
There may be several reasons as to why people consider it illegal. More than often Bitcoin mining is confused with counterfeiting the money, which is completely false.
You are not counterfeiting your national currency, but rather creating a completely new currency.
Another reason behind some governments opposing Bitcoin is due to it being decentralized. Due to the fact that Bitcoin cannot be regulated or controlled, several governments view it as a threat to their national currencies. Some governments also believe that Bitcoin is actually undermining the government itself by offering non-state currency.
Moreover, the Bitcoin cryptocurrency can be mined illegally. One of the most common examples is the miners hacking your PCs through malware and using their processors to mine coins.
In Which Countries Is Bitcoin Mining Illegal?
The governments all around the globe have a mixed stance on this subject. For example, in Russia, the possession, as well as the use of Bitcoin is illegal. In fact, Russia is considered to be one of the biggest anti-Bitcoin countries out there. Presumably because of the current financial crisis brought about by low oil prices and the sanctions instituted as a result of Russian activities in Ukraine.
Ecuador is another country to oppose Bitcoin, but interestingly enough, has launched its own digital currency. The currency is designed to lower the government’s reliance on fiat currency.
Another country to outlaw Bitcoin is Iceland. Then there are other governments such as Indian government that have made negative comments against Bitcoin but haven’t launched any official bans on the mining/ownership of the currency.
Legal Bitcoin Mining:
The majority of governments seem to be okay with Bitcoin and have not made any negative remarks or launched an official ban as of yet. US, China, South Korea are few to name.
In these countries, you can legally mine the coins by using your own Bitcoin mining hardware and electricity resources. However, stealing the said resources may still result in prosecution.
For more information on mining hardware, Read our guide on how to set up a bitcoin miner.
In all, Bitcoin mining is completely legal and safe for the users. Although there are some countries that have outlawed the currency, many countries remain to be silent on the issue and have passed no legislation for or against the most widely used cryptocurrency.
Bitcoin is a peer to peer, decentralized digital currency. The currency is free from any third-party influence like governments, the central bank, or a governing authority. The currency promises to revolutionize the traditional way of spending money in near future.
Bitcoins are not real coins. It’s a currency that is based on a string of codes and locked with encryption keys. The transactions made through bitcoins leave no traces behind, giving those involved complete anonymity.
There are several different ways to buy bitcoins but the most common way is buying through cash exchanges.
Buying Bitcoins Through Bitcoin Cash Exchanges:
Buying bitcoins through cash can be confusing at times. Especially for those doing it for the first time. But don’t worry, we have compiled a list of Bitcoin cash exchanges that make the whole process simple and straightforward. The list includes:
LocalBitcoins is a reliable Bitcoin escrow service from where you can cash deposit or cash trade in person. A quick step by step guide on LocalBitcoins includes:
- Find a local seller who is willing to trade in cash
- Choose how many coins you want to buy
- Receive seller’s account number
- Deposit cash into seller’s account
- Upload money-deposit-receipt as a proof
- You are ready to receive bitcoins in your LocalBitcoin wallet
BitQuick connects you with sellers where you can pay with Bitcoin and buy products online. For now, BitQuick is only available in the US and works the following way.
- First, you will need to find a seller
- After finding a seller, discuss the price for bitcoins
- Receive seller’s bank account number
- Deposit cash into seller’s account
- Upload receipt as a proof
- Receive bitcoins
Wall of Coins:
A peer to peer bitcoin exchange. Wall of Coins offers a number of bitcoin payment methods; however, the cash deposit is the most common method that they offer.
Wall of coins is one of the largest cash bitcoin exchange in the US with over 100,000 deposit locations across the country.
Apart from the US, it also operates in some major countries like Germany, Canada, Latvia, Poland, Argentina, etc.
LibertyX offers its services at a number of retail stores across the US. However, it requires the buyers to provide their identity which makes it less private compared to those mentioned above.
The maximum limit on buying bitcoins online from LibertyX is $1000, with 1% fee on each purchase.
One of the unique features of LIbertyX is that it grants $1000 worth of bitcoins for free to those who sign up through Facebook.
Bitcoins through ATM? Yes, you read it right. You can buy cryptocurrency through Bitcoin ATMs with only cash. Bitcoin ATMs require no verification, making it one of the most private ways of buying coins.
The average transaction fee through bitcoin ATMs is 5-10%, which is completely acceptable to those who want 100% privacy.
Bittrex is a USA based digital currency exchange that offers fast trade execution, protected wallets and cutting-edge security measures to ensure the safety of your funds. It is said to be supporting more than 190 cryptocurrencies with a market cap of $354,425,501.
Bitfinex is a cryptocurrency trading platform based in Hong Kong that offers peer-to-peer trading of all major cryptocurrencies. It’s known for its customizable interface, security and variety of digital currencies.
Bithumb is a Korean cryptocurrency exchange portal which is known for its reasonable price rates for bitcoin traders, ability to make quick real-time transactions and protection of every users’ assets with SMS verification. It is currently having a market cap of $314,531,860.
Kraken is a San Francisco based cryptocurrency exchange established in 2011. You can exchange multiple digital currencies as well as buy bitcoins. The currencies traded include Bitcoin, Dogecoin, Litecoin, Ripple, Ven, U.S. dollars, the Korean won and the euro. Moreover, Kraken is known for its security measures to prevent any sort of illegal activities to take place.
GDAX is a U.S. based exchange that offers a spontaneous, trusted and secure interface, along with full insurance of the funds held online. It is also backed up by major investors such as Union Square Ventures, Andreessen Horowitz, and the New York Stock Exchange. Currently, the market cap of GDAX is at $104,995,957.
These are some of the top exchange bitcoin for USD through which you can buy coins. Each exchange has different terms and conditions for its users. Make sure you go through them carefully before acquiring their services.