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Over the past few months, Bitcoin investment has seen a steady rise in its value. At the time of writing, one bitcoin is worth $1157.27 USD. This incredible value appreciation has grabbed the attention of many people. Also, with the media and government paying attention to the virtual currencies, the number of people looking to start their Bitcoin venture has gone off the charts.

Another reason as to why digital currency is gaining so much popularity is its worldwide acceptance as a form of payment at retails, corporations and large business organizations.

Moreover, it has made transactions quicker, safer and cheap as compared to the transactions involving fiat currency.

With all this being said, one question pops up into the mind: “should you make Bitcoin investment or not?”

The goal of this article is to provide you detailed insight on this question. So, let’s get started.

Should You Invest in Bitcoin or Not?

How to invest in Bitcoin?

Before asking “should you invest in Bitcoin or not?” you would need to know that there are two different ways through which you can invest in Bitcoin:

  • Buying Bitcoin and holding on until the value appreciates
  • Mining

The first one is quite simple. You go to a Bitcoin exchange, buy bitcoins and hope for the value to go high.

Mining, on the other hand, is a little tricky because when a transaction takes place, it goes straight to get verified by miners over the network. The verification process involves some complex algorithms. However, once the transaction is verified, the miners receive freshly mined BTC as a reward.

One of the biggest risks involved in Bitcoin mining is that the currency has no inherent value, is relatively new and has a price which is highly volatile.

Despite the risk, plenty of private companies and organizations are investing a colossal amount of money in BTC. Moreover, the currency is being accepted as a form of payment throughout the world, which indicates that it’s only going to increase in usage and the likelihood of it dropping back to zero is extremely low.

Another risk involved in Bitcoin mining is the difficulty. In earlier days, the difficulty level was not so high and people could easily mine new blocks through their PCs and regular laptops.

However, the difficulty has now gone to the next level with more people joining mining pools.

Since the max that bitcoins will ever reach is 21 million, the closer you get to the number, the harder it becomes to mine the coins, hence the lesser rewards.

If a miner wants to make money through Bitcoin mining, he must invest big in high-tech mining equipment. Even then, profits are not guaranteed.

Apart from these two, there is a safe third option. If you can create some complex algorithms/graphic cards through some cheap equipment, then you can expect higher profits. However, a large majority of people don’t have the sufficient skill set to succeed through this option.

So, What’s the Advice?

Keep yourself updated with the market trends, browse through Bitcoin forums and do some research regarding costs before taking a dive into the BTC world. Following these rules would increase your chances of success by over 100%. Good luck with your venture.

Tags: BTC investment sites.

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What Are Some Different Ways to Trade Bitcoin?

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Bitcoin is a computerized currency which is produced through mining. Mining is a procedure that includes understanding and solving complex algorithms using a PC. Once that complicated algorithm is decoded, then a single block can deliver around 50 bitcoins.

The time it takes to decode a single block greatly relies on the services of the miner as well as the processing power of CPU. Since the procedure of mining is long and frantic, many people want to purchase Bitcoin on the web.

Trading Bitcoin is most likely the quickest and simplest approach to make money through Bitcoin. The estimated value of the currency varies so much on the daily basis that it has become a primary investment option for traders. The currency is super exciting due to the fact that nobody knows how high or low Bitcoin can go.

Safe Approaches to Trade Bitcoin:

Here we are going to demonstrate the safest approaches to trade bitcoins. Read carefully best Bitcoin trading platform.

There are many ways to make money through Bitcoin trading. Much the same as stock markets, Bitcoin trading includes purchasing coins at low cost and selling them when the cost has gone up. To begin trading, you have to set up an online account with a consistent trading site and then store your assets into that account. When your account has been effectively verified, you will then need to closely observe the trading market for a chance to make a profit through purchasing and selling bitcoins.

Depending on the amount, the Bitcoin exchanges will charge you a specific rate for each transaction. You will also have the option to convert your local money into Bitcoin and vice versa. In any case, you should remember that Bitcoin is highly unstable. If you are not well-informed with the price trends, you may end up losing a considerable amount of cash.

A usual Bitcoin trading procedure includes four easy steps. The steps are:

  • Making an exchange account and filling it up with currency. The currency will be later used to make your first Bitcoin purchase.
  • Creating multiple accounts with the different exchange as it will help you eliminate the risk of theft in the event your primary account crashes.
  • Choosing an exchanging methodology: There are a few different methods to exchange bitcoins such as informal investment, swipe trading or becoming an investor that sits tight and hold on until the market stabilizes. Make sure you go with the option that suits you best.
  • Once you have done it all, wait until the market offers the right opportunity to make money.

These are some ways that can help you keep your bitcoins from theft and make secure trades. Good luck with your venture.

Tags: Bitcoin trading sites

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Think Your Life Is Hard? Man Threw Out Bitcoin Hard Drive Now  Worth $80m!

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A man has shared his pain after unknowingly unconsciously tossing out a Bitcoin hard drive seven years ago. The hard drive is now worth $80 million. Campbell Simpson, supervisor of tech site Gizmodo Australia, says he passed up a major opportunity for amazing wealth since he ejected a piece hard drive containing 1400 bitcoins. Seven years later, the Bitcoin market soared and Mr. Simpson’s apparently unimportant web money, which he purchased for $25, is currently worth $80 million dollars.

Bitcoin, which is online cash connected to a client’s digital wallet, is payment used to trade on the web and is acknowledged by numerous organizations. In 2010 Mr. Simpson’s 1400 Bitcoins were just worth around $25, however now, one Bitcoin is worth over $4,000.

‘I didn’t need or think about, anything on it. So I discarded it,’ he said.

At the point when usage utilization on the web began to explode, Mr. Simpson consistently – but bitterly – checked how much his 1400 was worth. After understanding his Bitcoin accumulation would have been worth $4000 a couple months later, Mr. Simpson was marginally irritated.

In any case, this month Bitcoin achieved a noteworthy high value, making his once-measly hard drive of worthless crypto a $6 million gold mine.

‘This is presumably a ridiculous thing, looking back, that I’ve at any point done. Also, I’ve done a considerable amount of idiotic things a ton of times,’ Mr. Simpson said.

The tech author says he has been offered advice on the best way to potentially recover the long-gone hard drive, however, he concedes he won’t try attempting to discover it. ‘I don’t even want to discover those Bitcoin, though. I’m truly content with my life right now. I needn’t bother with them,’ he wrote. ‘I’m for the most part really nice in life, I think, and I can giggle about it for like 95% of the time.’

Despite admitting he is not in desperate need of the hard drive, Mr. Simpson bemoaned the type of lifestyle he could live if he had $6 million – and says he could have even purchased a house in Sydney, ‘I could have purchased a house. In Sydney. At Sydney costs. I could have traveled the world or purchased a goddamn yacht or something,’ he added.

Here is a string of tweets he posted earlier this year:

 

Seems pretty pissed to me! What do you think of this unfortunate event? Let me know in the comment section below.

 

Story and image credits: Daily Mail

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Last Time to Buy Bitcoin as “Unreliable Sources” from China Spook Markets

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A Chinese journalist published a new article saying that China is banning ICOs and exchanges. The news was a Google translated article from a Chinese Journalist who claimed to have spoken to some official. Since there is no confirmation from a government official and no formal statement of any sort has been released, we can say that this news is possibly fake.
As we all know, the last time China banned Bitcoin, they took it back just a few months after.

However, this news might just be doing everyone a favor as this is probably the last time you can buy bitcoin at such levels.

Don’t Forget…

Bitcoin will survive with or without China, they’ve changed their mind before and they can do it again.

 

News Credits: cointelegraph.com

Image Credits: bitcoinist.com

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Wise Words from Fred Wilson

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Image Credits: picoloresearch.com

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7 Shocking Things You Can Purchase with Bitcoin Right Now

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Bitcoin has been on a roll ever since the hard fork incident took place. The digital currency climbed to many new heights within the past month but, the most recent one was it hitting a record of $5000 per coin on Saturday, last week.  Let’s not forget, the value did fall by $1000 within three days before it made a speedy recovery. Bitcoin right now is hovering above $4,200 per coin.

We’re all aware that the rapid fluctuations of the cryptocurrency make it difficult to price products. But even with that continuing, there are still some exciting and wild purchases you can make with bitcoin.

Here are 7 of the most shocking things you can buy with bitcoin.

  1. Airline Ticket

    Back in the summer of 2014, Air Baltic was announced to be the first airline to accept bitcoin as a means of payment for airline tickets.

  2. Pizza

    In 2013, ForCoinsLLC was launched by two bitcoin enthusiasts. Their aim was to make it simpler for consumers to purchase items with bitcoin. PizzaForCoins is their website that allows you to pay with bitcoin at local franchises of Papa Johns, Pizza Hut and Dominoes.

  3. A college degree

    You can get a master’s degree in digital currency from the University of Nicosia, in Cyprus. They accept tuition payments in bitcoin through a bitcoin exchange but, their first class is free online. The degree costs $14,500 however, if you pay in bitcoin, you get a 5% discount.

  4. An apartment in Dubai

    Looking for a new pad? Well, the Aston Plaza and Residences in Dubai newly announced that the developers would be accepting bitcoin as a payment for studios, one and two-bedroom apartments. Prices begin at around $127,800 which is 27.55 bitcoins.

  5. Date night

    In Berlin, a restaurant owner claimed that about 10% of his customers pay using cryptocurrencies.

  6. A brandy distillery

    Presently, a distillery in Nemesvamos, Hungary, is selling its building along with the equipments for a little above 73 bitcoins.

  7. A funeral

    One funeral home in the U.S., Crescent Tide Cremation Services in Twin Cities, Minnesota is known to accept bitcoin as a means of payment. They even offer 3% discount if you pay in crypto-cash.

 

Story Credits: mic.com

Image Credits: techrepublic.com

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