User reviews about making money on bitcoins. Real reviews about making money on Bitcoin Problems with ASIC

Today there will be no success story, but this will not make the story any less interesting. I’ll tell you about how I bought and sold bitcoins last year, and what came of it

Background

In order to understand what drove me at the time of my first purchase - I heard about bitcoins a long time ago, back when they were $20. In 2013, I even wanted to buy at the rate of $120, but soon changed my mind. A month after the desire, they already cost $1000 apiece. I bit my elbows

Soon the bubble burst, Bitcoin fell, and everyone calmed down.

The second time I returned to cryptocurrency was in October 2014. I accidentally saw the exchange rate chart, it looked like this:

For some reason, it seemed to me that the fall was about to stop, stabilization would begin, and then a sharp increase again. And on October 21, I bought my first bitcoin.

(It must be said right away that these were not bitcoins in their pure form, but their analogues in webmoney - wmx. That is, in fact, currency exchange within the keeper itself. I did not plan serious trading, I just wanted to try my luck and, since on webmoney I had dollars lying around, spent them on a couple of bitcoins. All exchanges were made through this site)

Approach #1

On October 21, 2014, I bought 2.6 bitcoins at a rate of $384 per piece, paying $1,000. This was the amount that I was not afraid of losing.

Almost immediately the rate fell by 20%, and I found myself in the red by $200

A week later, the rate began to rise and at the very peak managed to sell all the bitcoins. Net profit for 1 month was $140. Then friends on social media. they also wrote on the networks that they followed my advice and got a little rich ( tyts 1).

Result:$1000 - deposited, $1140 - withdrawn. +$140

Approach #2

It's like a casino here. If you win the first time, then it’s hard to stop. After waiting for the price to drop a little, I bought it again. This time I increased my investments and purchased for $2200 at the rate of 343.

And, like the previous time, the fall occurred almost immediately. The price dropped by 7%, for me this meant that for now it was -150 dollars.

For this case, I already had a strategy: if the price falls, then I buy the same number of bitcoins at a new price, thus reducing the average payback rate. Therefore, I purchased another $2,000 worth of bitcoins at a rate of 319. Now the rate at which I would have reached $0 is $331

After another 2 weeks, the rate collapses again. By all calculations, I'm already $1000 in the red. I can’t help but think that I started all this in vain. But my mind tells me that I need to shop again. It was very difficult to overcome myself, but I still threw in another $3,700. In total, at this moment there is already $8,000 in bitcoins. The payback bar drops to $305 per bitcoin. This is the course I'm looking forward to.

But, as often happens, I underestimated the size of the fall. A new week and another price collapse. Now up to $170. I understand that in just 2 months I lost $3,500. All this happens during the January holidays.

My nerves did not allow me to purchase new bitcoins again. But I also decided that I would not sell. If it burns out, that’s fate. Previously I hoped that I would catch the growth of the bubble, now I hope that I will pay off only after many months. The money is frozen in bitcoins and it will be possible to withdraw it at a price acceptable to me only in 1-2-3 years. Will wait

And so six months passed. Didn't do anything special. But my nerves didn’t let me go, I checked the course every day. It either rose to 290 (I needed 305 to break even), then dropped to 220. Of course, this also affected the rest of the work; it was not possible to fully concentrate on other projects. I was constantly afraid of missing out on some peak where I could sell well and get my money back.

It was only in the summer of 2015 that the rate began to approach the level I needed. For a while I jumped to 310, then dropped a little. And then I couldn’t stand it anymore and sold all the bitcoins for $292. Literally two hours after that the rate collapsed

Result:$7993 - deposited, $7514 - withdrawn. In the negative by 479. And if we add past profit here, we get ( -$339 )

Approach #3

At the end of summer the rate dropped. I could have calmed down, but I couldn’t let go of the thought that the whole experiment was a failure. On August 22, I again bought a batch of bitcoins for $1,300.

Stability is a sign of mastery. As you already guessed, there was a fall again :) But he didn’t change his strategy and again bought for $1,400. Now I have a little more than 12 bitcoins in my hands, purchased at the average rate of $218

Result: after a year of trading I succeeded $12,000 dollars turnover and a small plus (I rounded in the calculations, but on my wallet it turned out +146 dollars)

conclusions

1. I didn’t (actually) earn anything.

2. A few months after my sale, bitcoins doubled in price (now at $427).

3. I realized that I don’t want to do this anymore, nerves are more valuable

P.S.

With this post I want to show what the desire to “catch the bubble” actually looks like. When you look at the charts over the past time, it seems to you that “here I would buy at the bottom, and here at this peak I would sell and make a 5000 profit.” In fact, you have a blank slate in front of you, you don’t know what will happen next. This is roulette. Of course, I read market news, tried to predict price movements, but with the same success I could have just tossed a coin.

I didn't make 100% profit, but I didn't lose anything either. And this is only due to the fact that at the moments when the rate dropped from 350 to 170 dollars, I took an even greater risk and bought a new pack of bitcoins. Investing more and more money. It is very difficult psychologically. And, of course, it requires a lot of available funds.

I concluded for myself that I would rather earn 100% of my profits through websites and social media. networks :)

Reads: 5,035

Yes, Bitcoin is still unstable: every day it surprises with sharp ups and downs in the exchange rate. However, interest in this virtual currency does not fade. More and more countries are introducing Bitcoin (BTC) into their economies.

Many people mistakenly believe that cryptocurrencies are just another scam to enrich its creators. This is not true, although now unscrupulous individuals are creating financial pyramids disguised as “a new and promising cryptocurrency that is worth investing in.”

The financial pyramid works as long as new investors appear. If there are none, SCAM occurs - immediate closure of the project, termination of payments to participants. Why does this happen?

• The greedy project administrator does not want to share with investors and, at the peak of the investments received, takes away the cash.
• Hacker attacks.
• The outflow of funds is greater than the inflow.

For cryptocurrency to function, new participants with computing power are needed, not their money. The system itself accrues rewards in the form of BTC for successfully completed operations to create cryptographic signatures - ciphers that are used to accompany any operation in the Bitcoin network.

How can you make money on Bitcoin in 2018?

Every year the number of BTC decreases, which means that the requirements for the amount of computing power are growing, as is competition (huge companies are being created to mine cryptocurrency). If a few years ago you could make good money by mining bitcoins on a home computer with an average video card, today in this way you will earn the maximum to pay for the Internet.

So, let's look at the current ways to receive BTC:

Cloud mining

A great way if you want to increase your income without purchasing equipment for cryptocurrency mining and deep knowledge in this topic. All you need is a certain amount of money that you won’t mind investing (from $1.5).

In proportion to the amount of invested funds, you are leased computing power for mining. However, they do not need to be installed in your home. You rent a piece of a huge mining farm located somewhere abroad. Up to 85% of the cryptocurrency mined by this piece goes to you. The remaining 15% goes to the farm owners. They use these funds to maintain the facilities you rent and pay for electricity.

To invest in cloud mining, you need to follow 4 simple steps:

1. Explore services that provide such services. Look at reviews on YouTube, read about people’s experiences on forums, pay attention to the year the site was founded (the more years it has been operating, the better). Today you can trust HashFlare and Genesis Mining.
2. Complete registration.
3. Transfer money to your personal account, which you will have after registration.
4. Select the tariff and mined cryptocurrency. A contract will be concluded with you for 1-3 years.

Now all that remains is to receive income from the work of the rented part of the farm.

Do not under any circumstances believe new cloud mining projects that promise fabulous earnings (1000% -2000% per annum)! Most likely, this is a financial pyramid disguised as a company specializing in cryptocurrency mining. You may lose all invested and earned funds.

The unknown is the biggest disadvantage of cloud mining. Therefore, you should not invest your last money here. SCAM can even overtake a project that has been working for more than one year.

It is unlikely that you will withdraw $1.5 worth of bitcoins. Cloud mining services have a commission that is automatically removed when withdrawing funds. You won't even be able to pay for it.

Creating your own mining farm

About 2-3 years ago, this method of earning cryptocurrency was considered the most profitable and reliable. However, in 2018, having a modern video card is not enough, and putting together a powerful configuration for BTC mining is not cheap.

Disadvantages of a home mining farm:

1. Electricity consumption will increase significantly, as will the cost of maintaining equipment, because it will work at the peak of its capabilities, and you will have to come up with optimal cooling methods.
2. Loud noise during mining.
3. If the equipment breaks down, you may be denied warranty service.
4. The area of ​​the apartment is not enough to create serious computing power.
5. An unstable Internet will add to the hassle, since interruptions in its operation will completely interrupt the operation of the mining farm, which is why it will have to be started again.

Pros of a home mining farm:

1. You choose the mined cryptocurrency yourself.
2. Earnings are made automatically.
3. They won't cheat you out of money. Only equipment can fail.
4. You can sell your mining farm without any problems.
5. The most profitable way to mine cryptocurrency if you have a very powerful farm.

Consider this mining method if you do not pay for electricity or pay half, and also if it is possible to purchase equipment at wholesale prices.

Trading on cryptocurrency exchanges

Nowadays, cryptocurrency exchanges are becoming more and more popular. Here, as on currency exchanges, traders place bets and try to analyze, for example, what the Bitcoin rate will be relative to the Ethereum rate in an hour. If the forecast comes true, they make money. But it's not that simple. To make money from this, and not go into the red, you need to literally “cook” in this environment. Only maximum immersion will bring success, and this means that you need to be aware of everything that is happening in the World, know everything about cryptocurrencies and the market. Becoming an experienced trader can take years, during which you will have to constantly part with considerable amounts of money.

Purchasing at exchange offices

The best option if you want to purchase cryptocurrency.

There are many exchangers and they all compete with each other both in terms of the most favorable rate and in terms of reputation. So it is not profitable for them to deceive people. Any evidence of fraud immediately reduces the rating of a cryptocurrency exchanger and removes it from the list of verified ones.

Exchangers support almost all payment methods: you can buy cryptocurrency using a Visa or MasterCard, or using any electronic wallet.

Bitcoin faucets

Anyone can make money here: from schoolchildren to pensioners. This method of earning BTC does not require investments, trading on exchanges or creating your own mining farm. To earn the coveted 50-200 satoshi (0.000000050 - 0.00000200 BTC), you need to enter captchas and watch ads. To get more earnings, we recommend registering at all available Bitcoin faucets.

Referral program

Each such service has a referral program, so if you have your own website, blog or promoted account on YouTube, you can place affiliate links there. A person who follows the link you posted and registers automatically becomes your referral. If he mines satoshi, you will receive a percentage of his earnings. This is a kind of gratitude from the system for attracting new “earners”.

Automatic earnings on Bitcoin faucets

If you do not want to waste time watching ads or entering captchas, install the STARTAVTOBET program on your computer. She will do everything herself.

Bitcoin games

By taking part in gambling or Minesweeper games, you can earn 100 satoshi per win. This method of mining bitcoins also does not require any investment.

In total, we have 6 ways to make money on bitcoins! Everyone will be able to choose the appropriate option.

If you have saved up the nth amount of money and are ready to take a risk, we recommend investing in cloud mining. Today this is the most promising direction in which a beginner can make good money without much knowledge or time investment. In the future, cloud mining will only develop.

When it comes to methods, the first number is almost always Bitcoin faucets.

It would seem like an ideal way to make money. However, take a closer look and the picture becomes less rosy. Let’s look at what Bitcoin faucets are and how realistic it is to make money on them.

If you are interested in real working ways to make money on cryptocurrency, download the free book right now " 25 Cryptocurrency Investment Strategies»

How much will the crane earn?

The most profitable Bitcoin faucets loudly declare that you can get 100 thousand, or even a million satoshi at a time.

However, having accessed the corresponding resource, the user makes the first unpleasant discovery - the amount he will receive is selected randomly in the range from one to the notorious million, and the maximum numbers are extremely rare. The usual prize rarely exceeds 100 satoshi. At the current exchange rate this is a few kopecks.

There is a second limitation - you can repeat the entry only after some time. Somewhere 1 minute, somewhere 5 minutes, somewhere 10 or even an hour. Small intervals also mean very small amounts of 5-10 satoshi, while attempts to win big are separated by impressive periods of time.

The only plus is that there are a lot of sites distributing faucets, and if you register on two dozen, then while the time is counting down on one resource, go to another, then a third, etc. Plus, train yourself to enter captcha very quickly and perform other necessary actions. And also have super-fast unlimited Internet. After all, every site contains a lot of advertising banners and it takes time to update the page.

How much can you earn from this? Real earnings on taps will not exceed 100 rubles for an 8-hour working day at the current exchange rate. And only if the military-technical exchange rate increases significantly, is it possible for earnings to rise above this level. To earn these satoshi, you will need to spend 8 hours without looking up from the monitor, very quickly moving from site to site and pressing the right buttons.

Who makes money on cranes?

But you’ve probably seen a lot of reviews on the Internet that faucets are profitable, you can really make money there. The main thing is to choose the right site. This is followed by one or more links to those same correct sites.

The whole secret lies in them - such links really bring good income. Almost all faucet sites offer affiliate programs, giving out 25 or even 50 percent of the earnings of each referral you bring. If you send a hundred new clients to the site, each of whom will mine at least 10,000 satoshi per day, you will receive up to half a million satoshi per day. Bring a thousand - and your earnings will reach 0.05 full BTC per day, and you don’t have to sit there yourself. Referrals will earn money.

You can make money on faucets by having a visited website, popular blog or Youtube channel. By hanging the appropriate banner and promising earnings without investments, you can get significant income. This is the only real way to make money on faucets.

Instead of a casino

Only very gambling people, fans of bookmaker bets, online casinos, etc. can mine bitcoins on their own using faucets. As already mentioned, the winning amount is distributed randomly, plus on many resources the process itself is organized as a game. For example, the FieldofBitcoin faucet is a field of 156 squares, under each of which there is a certain amount, and the maximum exceeds 100 thousand satoshi. You choose a field and you get the winnings hidden there.

Those. the same slot machine, excitement, anticipation, hope for 1 mBTC, but you don’t have to invest coins earned by honest labor. Quite a bit of fun for a gamer.

And if you have a friend, acquaintance, or relative who is wasting time and money in real or virtual casinos, it may be worth redirecting him to Bitcoin faucets. He won’t earn a lot of money, but at least he won’t waste the family budget. For the vast majority of people who do not suffer from gambling addiction, making money on faucets is unrealistic. And do not forget that withdrawing earned satoshi can be difficult, because many resources set a high threshold for withdrawal.

When Bitcoin was worth around $100 or even less, you could earn 1 BTC in a few days on faucets. If you do not spend the bitcoins received in this way, but save them, then now these coins could be exchanged for fiat money at the current rate - and make good money. But at the current Bitcoin exchange rate, it is no longer possible to earn any significant amount from faucets.

To learn about real ways to make money on cryptocurrency, come to the free online master class.

This whole story with investments, forex and all that other stuff is terribly far from me. I perceived - and continue to perceive it - as a game of chance. And reading the analytical reviews of serious experts, I understand more and more that this is the same for them.

Back in August, cryptocurrency experts grinned condescendingly in response to stupid questions from journalists about when Bitcoin would cost $10 thousand. It had just dropped terribly - by 1.5 times - from $3 thousand to $2 thousand, and it seemed to many that that this is the beginning of the end of a wonderful fairy tale about how geeks and nerds tried to grab a piece of their happiness, but got their wings burned.

Of course, experts said, in the long term, Bitcoin can cost whatever you want - even $5 thousand. “But I don’t know... I don’t know... You can wait your whole life... It’s not backed by anything, - they said. “This is a bubble!”

I watched all these battles from the sidelines. And in August, and in September, and in October. And in November, when it became clear that Bitcoin was about to break the $10 thousand mark. For me it was something like Soviet cartoons about Wall Street businessmen: some fake people with bags with dollar signs on them, rubbing their hands gloatingly, doing dubious deals.

Actually, I love to play. The kids made me put on a fun game on my phone where a bunny knocks out marbles with a ball. Try it - you won't regret it. Well, such games always have built-in advertising, and it was there that they showed me an application - I won’t say which one - in which you can bet on the rate of anything, including Bitcoin.

I am a suggestible person, and the echoes of panic in the Bitcoin market, of course, impressed me. Having downloaded the program to my phone, I received virtual $5 thousand in it for a training account and the first thing I did was buy virtual bets on 1) the growth of Bitcoin; 2) Bitcoin fall; 3) growth of Bitcoin Cash and 4) growth of Litecoin. To tell the truth, I was just going through everything that was there. Half an hour later, the bet on Bitcoin growth collapsed - I squandered all the 2.5 thousand virtual dollars I had bet, because just at that moment the rate, the bastard, decided to adjust. I bet quite a bit on the fall of Bitcoin - something like $100. There was a small profit, but it, of course, did not cover the colossal blow from the insidious Bitcoin.

Coming to this site, I had a very vague idea of ​​its rules and pitfalls. To tell the truth, it was only after a couple of hours that I realized that the value 9056.650 means the very cost of Bitcoin in dollars. At first it seemed to me that since I was not buying bitcoins themselves, but simply betting on its growth or fall, it meant that these were just something like points. Then it came.

But what does any normal person do after squandering virtual $2.5 thousand on a phone toy? That's right - he makes his own real money. Actually no, of course. Normal people don't behave like that. But it seemed to me that, since I had already started, it was stupid to quit, and it was even more obvious to me that Bitcoin would grow.

I charged 100 real dollars from my credit card. And there the same pitfalls immediately began. Firstly, a 2.5% commission is charged for the transfer. Secondly, the advertisement promises to add $100 of your own for every 100 dollars you deposit. In fact, we are talking about a certain account for $100, from which - under certain conditions - part of the commissions and fees will be compensated - no more than 10%, and even then only 2% per day. Deception, in short. But the good news is that I didn’t really count on this “gift”. Although, of course, I made exactly $100, and not $20, as I wanted at first, precisely because the advertisement talked about a 100% bonus when making exactly $100.

Then I tried to study the question of how to withdraw money from there. It's not that simple either. The card where the money will go out must be verified. That is, take a photo of it from the front and back (the numbers and secret codes must be covered) and send it somewhere. To Cyprus, where this company is registered. I did this, and somehow my card was verified quite quickly, after which I decided to buy.

Diversification, eggs in a basket - all this is not for us, desperate investors from the 7th "A". Of course, I immediately invested everything in the growth of Bitcoin. Without even looking at how much it costs there or what’s going on at all. I bought - as it later turned out - for $9568,850 per bitcoin. And as soon as I ate, the system immediately showed me a minus - ha ha! - 25 bucks. Bitcoin began to fall again. The drop was noticeable, but not by 25%. I panicked. I clicked the “Information” button and found out that they charged me a $25 commission for accepting the bet. Such great guys!

It turned out that in order to get a profit, I needed Bitcoin not only to go positive, but also for me to earn more than $25 on it - that is, the profitability should be more than 25%. That's normal.

Well, okay, it was late at night, before going to bed (and I checked the exchange rate every 5 minutes), the system showed me already minus $80. I actually said goodbye to money. If Bitcoin had fallen another hundred dollars, my bet would have simply closed and I would have lost everything. But the next morning it turned out that everything was a little better - only minus $60. Bitcoin has come to life. There is a chance to save at least half of the money raised. But I was sure that since I didn’t squander everything right away, it meant there was still a chance to at least make a profit.

My plan was to wait for the nominal plus. In my case it was +$25 commission, 2.5% establishment fee and, as I suspected, another 2.5% withdrawal fee. I didn’t read this directly anywhere, but, understanding who I was dealing with, I expected something exactly like this. In other words, I needed my $100 bet to rise by $35 and at least a couple more cents, so that I could then brag to everyone about how I made money on Bitcoin. Moreover, it should be noted that I did not buy the bitcoins themselves, but rather made a bet that bitcoin would increase in price. That is, a virtual derivative of virtual currency.

As surprising as it was for me, by the middle of the next day Bitcoin returned to its previous positions and grew quite strongly. The application has already shown either plus $2.5 or minus $3 - taking into account all commissions. That is, it was no longer offensive to go out. Well, as a last resort, I could tell you how I almost made money on Bitcoin.

And here’s the problem: Bitcoin went up, but I’m in minus. Surprise! It turns out that every day they charge me $4 for “moving the bet”! Okay. I went to read the manual again. Yes, indeed, we charge you a small, almost imperceptible fee every day. Yeah. 4% per day is not noticeable at all. Well done.

In other words, it turned out that the instrument I use is not intended for long-term investment. Like buy bitcoin, and skim off the cream six months later. With the system I found myself face to face with, it turned out that for 180 days of my fictitious investment, I had to pay $720 to this miracle system. Yes-ah-ah, really well done!

I started poking around with the numbers. It turned out that for every $5 increase in the price of Bitcoin itself, my profit was about $1. This means that in order for me to just stay afloat, Bitcoin must rise in price by at least $20 every day. Considering what is going on with it now, this is a completely achievable task, but on the scale of the six months I had planned, this meant an increase of $3.6 thousand. At the current (looking ahead) $10 thousand. Perhaps this is not such an incredible level, but - note - in such situations, I would simply break even. Earning $720 for system owners. No more. I am, of course, a very kind person, but not that kind.

So it became clear: I use the tool for short trades, and I need to close very quickly. Literally fixing at least the minimum profit.

But while I was calculating all this, Bitcoin began to move in earnest. Now my $9,568 per bitcoin has remained below, the rate is approaching $9.7 thousand, and I am already in a noticeable plus. Let me remind you that an increase in the exchange rate by $5 allows me to earn $1. And he is growing! And I already see plus $12, taking into account all commissions.

What can I say, 12% per day is, brothers, 4380% per annum. If you count it amateurishly. This is literally a fairy tale!

Then I see on the news: “Bitcoin has crossed $10 thousand for the first time.” And in my system there are still $9.7-9.8 thousand. What’s the matter, I, of course, did not figure it out. It is clear that I have gambling. That this is all a hoax. But I already understood that it will continue to grow. And I decided not to withdraw money, but to wait.

By evening it was plus $34. I told my comrades. We laughed. Finally told my wife. Before this I was somehow shy.

I figured that if Bitcoin rose to $10 thousand, I would earn something like $60. Plus or minus.

The next morning I wake up - plus $115. Including all commissions! Mom dear!!!

Bitcoin finally broke through $10 thousand and continues to climb.

I have a dilemma: go out now or wait longer. If you wait any longer, you will have to pay another $4 to extend the rate. It's a pity. But there is nothing to do. Fun is so much fun. They charged me $4, and it continues to grow. Already almost plus $200. But then it falls - to plus $167. The hands are shaky. I'm starting to write this article. The headline is “How I earned $167.” But every 5 minutes I look at the graph. It seems to be creeping up.

That's already +210. Here's +190. Here's +201. +180. +170. +160. Crap. +175. +180. +201. +215. Ugh.

All. It's time.

With trembling hands I press “Close deal”. +199.3 is fixed. They write - some additional write-offs. Plus 2.5%, minus something else, minus something else. Plus some bonuses, minus interest on bonuses and something else. I click on “Withdraw funds”. Sure? Yes! Where are you going? "Yandex wallet"? Virtual money? Webmoney? What webmoney?! On the card, on the card! Enter the verification code, enter the card number... withdraw exactly? Take it out straight away? Do you need to “remove” or “receive”? What? I need to take it off and get it! What to choose? Okay - take it off. I think I guessed right.

Phew! Okay. Application accepted. We'll translate it soon.

After 5 minutes, a letter: “Hello! We inform you that the accepted request for withdrawal of funds could not be executed. The recipient’s card bank has refused, the transaction is not allowed null.”

Bli-i-i-in! Well, I'll get another card. No! You can only withdraw to the account from which the money was debited. I'm calling my bank. What the hell is this? “Oh, well, that’s how it should be,” they say. You can only deposit money using bank details - one card number is not enough. Bli-i-in!

I go to the air traders website. I'm looking for how to create bank details. A pleasant surprise: when transferring to an account, the commission is $10. Okay. I enter all the BICs, INNs and that’s all. It seems to be working out. I press "Remove".

A letter arrives: the application has been accepted. Execution time: 2-5 working days. But the money has already been debited from the account in this Forex. Fine. Will wait.

The bottom line is. The deposit for this service is 6.1 thousand rubles. Withdrawn after 2 days - 16,627.99. Taking into account all the commissions and all that other stuff. At the exchange rate, the earnings are $189. Well, or plus or minus 10 thousand rubles.

Very nervous, and still can’t touch the money yet.

P. S.: I wonder if you will have to pay taxes? 13% or 35%?

P. P. S.: While I was writing this text, Bitcoin rose to $10.8 thousand. That is, I could earn another $20. But I'm very glad that I closed the deal. And for now I don’t plan to do all this again.

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Hello, in this article we will talk about the virtual currency - Bitcoin.

Today you will learn:

1. How to earn bitcoins with and without investments.
2. What to do with bitcoins.
3. How much do they earn?

Working ways to earn bitcoins

First, watch a 3-minute video that literally tells you about the Bitcoin cryptocurrency:

Earning bitcoins using a computer is becoming more difficult. Just a few years ago, when Bitcoin was just beginning its “promotion,” it was possible for anyone to earn the average salary of an office worker. Now, with the advent of the big coin, we have to come up with new ways to actually earn coins.

Mining

Mining is the extraction of currency using a video card, one of the first ways to earn cryptocurrency. It has its drawbacks, although it is considered the most reliable and profitable.

About two years ago, you could earn money thanks to a video card, which did not require any expenses. The whole point was that the currency “hunter” built gold mines in a game form, extracted gold and exchanged it for real money.

Now, in order to earn money, you need to create or buy a special computer configuration with an expensive video card. Not only will the configuration cost a lot of money, but you will also have to pay twice as much for electricity. That is why mining, as an unprofitable method, goes down a step from the top every month.

Advantages of mining on your own computer	Disadvantages of mining on your own computer
1. It is possible to sell equipment at a discount at any time. 2. Complete minimization of speculation. 3. You choose which currency to “hunt” for. 4. Automatic earnings of bitcoins.	1. Equipment handled in this manner has a high risk of breakdown. Added to all this is the low likelihood of warranty service. 2. Noise and double the electricity use. 3. It is not possible to create large farms in your own apartment. 4. Due to Internet outages, work is completely interrupted (even if it has lasted for several days), and the farm has to be started again.

The offer of mining among “hunters” is considered only if it is possible to pay half the cost of electricity or not pay for it at all.

Cloud mining

The essence of cloud mining is that you don’t have to spend money on a computer, video card, and so on. You are offered to rent computing power on remote servers. However, cloud mining has been almost completely “attacked” by scammers who successfully hide after receiving the rental payment. So be careful with this.

The purchase of capacity occurs in hashes. The computer unit increment system is identical to bytes. It is advisable to purchase Giga or Terahashi. This is a more reliable option.

The average cost of one Gigahash depends on the exchange rate. For example, in 2016, 1 bitcoin cost about $650. 1 Gigahash cost 0.0006 bitcoins ($0.47). This will be enough for a stable income of 1 bitcoin per week.

Investments

Bitcoin appeared in 2008 and its cost was negligible. In 2017, the cost increased a million times. An investment carries some risk. With a long-term investment in cryptocurrency, it is possible for the price to rise, stop, or fall.

After several years, many people regret that they did not contribute, for example, in 2013. It was at the end of this year that the price began to rise, which later rose “to the skies.”

Bitcoin farm

Mining farm – a chain of computers that perform calculations around the clock, 365 days a year. The way a farm works is that you provide a specific program with the processing power of your computer. The video cards built into the farm operate at the limit of their capabilities.

Farms occupy a pyramid position. They are beneficial only to those who started doing this at the time of the birth and “promotion” of cryptocurrency. Many people, having learned that a mining farm brings in $1,000 a month, spend fortunes on it, but what happens then?

Perhaps in the first month the farm will give you the desired money. But the fact is that over time, the computing power requested by the program and servers increases. And the power of your farm remains the same as in the first month. As a result, earnings will decrease.

In the best case, the owner of such a device begins to try to fix something, but nothing works, and therefore he has to sell the farm.

Next, the second pitfall: your farm worked hard, for example, for about six months or a year. You bought it for 100,000 - 150,000 thousand rubles, and in a year its cost due to constant work will be about 60,000 thousand rubles.

But does anyone make money on these farms? Yes, on the computing power of those who buy up hangars and completely fill them with farms. They invest several million and buy about hundreds of thousands of video cards. This brings income, but newcomers who have stepped on the second pitfall make money only by selling these same mining farms.

To avoid getting hooked by those who sell farms, ask yourself: why is he selling it if it generates income? True miners who know all the intricacies and nuances of making money will not dare to decide to sell what generates income.

How the farm works and what you get paid for

Bitcoin is a decentralized unit. It does not have a single server or developer who would do this. This is why when you download special mining software, you turn your computer into a particle of the server. And there are quite a lot of people like you. If you put all these particles together, you get a powerful server.

To give people an incentive to stay part of the server, the system pays rewards in the form of virtual currency. That is, miners receive money for donating the power of their computer to the system.

Remember that it is impossible to quickly earn bitcoins, and it is also impossible to earn them simply by placing a farm on the windowsill and minding your own business. This is a kind of investment in which you need to wait for payback, you need to constantly work on it, delve into new subtleties and monitor the exchange rate of virtual currency daily.

Earning bitcoins without investment

It is quite possible to make money on Bitcoins from scratch, but it will take a lot of time. At the moment, there are a huge number of servers that offer free currency, more precisely, Satoshi (one hundred millionth of a Bitcoin). All you have to do is enter captchas, go to websites or watch videos. In general, a full-fledged job.

Where to earn bitcoins

Free Bitcoin servers are called Bitcoin faucets. The amount of earnings is low, but you also do not perform complex tasks. Initially, faucets were created to “promote” currency, but now they are the easiest and most popular way to make money. Plus, there is a referral program on all servers. By attracting partners, you receive additional income.

Several ways to earn currency without investment:

1. Bitcoin collection.

The easiest way to get bitcoins. The registered user is asked to either enter a captcha or view an advertisement, and after the action is completed, they are paid from 50 to 200 satoshi.

Typically, such faucets have a timer for entering a captcha or viewing an advertisement. On some sites, the entry can be repeated every five minutes, while on others it can be repeated every hour. Experienced “hunters” suggest setting up 10 – 20 servers for coin mining, because it is very difficult to get even an average income from one such faucet.

If you have or a well-promoted social network, then this method is just for you. You can leave affiliate links to Bitcoin faucets where a certain number of people will see them. Thus, we are back to the referral system again. For referrals, that is, partners, the service determines your percentage.

1. Automatic earnings on faucets.

Making money on a machine is the best option for finding virtual currency. This is a fairly simple method that is suitable for those who want to make a profit without any action at all. In order to earn money, you just need to install the special STARTAVTOBET application on your computer, and it will bring you money automatically.

What to do with earned bitcoins

If you have earned your first bitcoin, then the question arises: what to do with it? Before you start working, any server you want to register on will offer to open a wallet with which it cooperates.

This is exactly the same system as, for example, if you paid your child’s tuition through a university partner bank: minimal commission or no commission at all, and the money will be received one hundred percent. Many Bitcoin faucets withdraw earnings automatically if you enter your wallet number.

After the first cryptocurrency has been successfully earned, it must be withdrawn. Many advanced “workers” advise not to wait for the rate to double or increase, but to withdraw the amounts immediately, because there is a huge risk of “burning out”.

Bitcoin withdrawal

It is legal to withdraw bitcoins to an electronic account. Unfortunately, this currency cannot be cashed out, but there have been cases when it was used to pay in online stores.

The following ways to receive cryptocurrency are available:

1. You can withdraw through exchanges.

Exchange systems have flooded the Internet. They allow users to engage in a system of purchases and sales, as well as cryptocurrency conversion (conversion is the ability of currencies to exchange among themselves). The commission on exchanges is minimal, but you need to wait until there is a buyer for your product.

A popular exchange is a great chance to quickly exchange a coin. The most reliable exchanges are those that, after registration, ask you to make a deposit and undergo verification, and only after that they provide a full list of transactions.

1. Exchangers.

The most reliable and proven method by many people. Almost instant payments to your desired wallets. But of course, the exchanger requires a fee for its operations.

1. Forums.

This is perhaps the most unsafe method of exchanging currency. It is built through a forum on the complete trust of strangers in each other. And here the chance of becoming a participant in a dishonest deal increases.

On specialized forums it is possible to find a specific person with whom you will make a transaction, but this will take some time. The advantages of this option are zero commission and instant exchange.

How much do you earn on bitcoins?

The more people mine or register for Bitcoin faucets, the less you will earn. Imagine a circle that is divided into ten equal parts. A circle is information that you need to process, and for this processed circle you pay 20 bitcoins.

There are ten people like you, and when you process this circle, one tenth of all the money will end up in your wallet. Now imagine that a thousand more people find out about this circle, which means that now the reward will be a thousand times less.

The Bitcoin exchange rate is not backed by anything and is extremely unstable. It changes almost every hour. This happens because its fall and rise depend only on two factors: buying and selling.

Example. If one person decides to sell ten bitcoins, the rate will fall quite low, and if he decides to buy them, the rate will increase. It also depends directly on the news. If a well-known news newspaper writes that they want to block the cryptocurrency, then the rate will be almost equal to the minimum.

When considering mining as an option for making money on cryptocurrency, the daily income will be about 600 rubles per day. And this is with the most powerful gaming computer. If you take a computer of average power, then the maximum income will be 50-60 rubles.

Alternative ways to make money on Bitcoins

People don’t really want to wait for their cloud mining to take off or for a certain amount of Satoshi to be collected on a Bitcoin faucet.

In order to earn 1 bitcoin per week, you can use the following methods:

1. Take advantage of cryptocurrency doublers.

Doublers operate on the “invest - get twice as much” system. In this case, you need to be careful and not jump into the pool headlong. Beginners who invest large sums to receive what they think is the same cryptocurrency are left with nothing.

In case of “victory” over the doubler, it is recommended to use only those servers that offer small percentages (2-3% per day). There is no need to “scroll” the money several times either. It’s better to do it once, withdraw and invest further amounts. This will be more reliable, and you definitely won’t get burned out.

The operating principle of doublers is based on the arrival of newcomers to the system who invest money. In this case, payments to existing participants continue. But such servers later turn into scams and are forgotten.

Earning money from honest services is not built on the principle of a pyramid, like future scams, but on the principle of deposits in official financial institutions, where they pay a small percentage on the account balance. In order to earn 1 bitcoin per week, you need to invest 15.

1. Casino.

There are small lotteries or casinos on Bitcoin faucets. With an accumulated amount of several hundred Satoshi, you have the opportunity to win at the casino and earn currency for free.

1. Exchange.

Traders no longer want to earn one bitcoin a week. They want the same results in a few days or even hours. Trading takes place according to the standard market system: we buy cheaper and sell more expensive.

The exchange rate does not depend on any influences. The main task of a trader is not to panic when the rate begins to decline rapidly. Just wait until the price rises again and sell. For your patience you will receive very decent money.