We’ve all heard about Bitcoin by now. The cryptocurrency which has been gaining value by the thousands of dollars during the past few weeks.
Though some see Bitcoin is a pyramid scheme, the truth is that there is money to be made here.
How can you take advantage of the success of cryptocurrency?
Here are 5 ways you can gain revenue by handling cryptocurrency.
- Mining cryptocurrency
Mining in laymen terms is literally creating money out of thin air. The truth is that mining creates cryptocurrency, but if you want to cash out to USD, the matching increase in revenue hasn’t been added by the Federal Reserve. In short, they’re not keeping up as Bitcoin and any other cryptocurrency is a digital currency that’s literally made up.
Now, the short version of mining, is that you can install software on your computer that will use your computer’s CPU or GPU to solve mathematical problems (the mining process). However each time a problem is solved, the mining process and thus the equation becomes more difficult, resulting in it becoming more and more difficult to mine.
- Investing in cryptocurrency
When Bitcoin first came out it was below 0.01 dollars in value. Today it’s at $16,000 on average. The reason for this increase is simple. Supply, demand and application.
Many famous stores and websites started to accept bitcoin as a valid method of payment, and thus the value of bitcoin increased.
However, there are new cryptocurrencies invented every day that could serve a particular purpose, which currently are very easy to mine, or cheap to buy. buying 10,000 shares of a cryptocurrency at $0.0001 value per share won’t break your bank. It’ll make your bank once that’s up to $1 in value.
Cryptocurrency is a new thing, mainstream spoken. The Nasdaq has recently shown interest by creating Bitcoin futures, and we’re still a long way from it becoming a common form of payment at your local deli shop. But the truth is that we’re shifting into a digital era, along side with currency.