The history of the first crypto began at the end of October 2008, when an article titled “Bitcoin: A Peer-to-Peer Digital Cash System” was published on the Internet. The article was signed by the pseudonym Satoshi Nakamoto. Behind him was a person or a group of people. The identity of this person still remains unknown, although many researchers have put forward many hypotheses on this score.
In 2009, Satoshi Nakamoto created the Bitcoin system and put it online. During this time period, the first block was generated and the first 50 bitcoins were created. On January 12, Satoshi sent 10 bitcoins to the famous American programmer Hal Finney, which was the first transaction in history using a cryptocurrency.
The idea behind the creation of the bitcoin cryptocurrency was that it could not be regulated by the decision of the authorities of different countries.
In 2009, 1 bitcoin was only worth $ 0.1. You couldn’t buy anything for that. Today, the fortune of those who were able to mine this cryptocurrency in 2009 is estimated at millions of dollars. In April 2021, 1 bitcoin was already worth over $ 60,000.
What is Bitcoin
Bitcoin is a comprehensively secured gold coin that can instantly travel anywhere in the world. This coin cannot be counterfeited, duplicated or prohibited in any way. In addition, bitcoin does not wear out as it does with conventional coins. The amount of this cryptocurrency is limited, and a total of 21 million can be issued. Today, no country in the world can print or crash the bitcoin rate.
Many people are interested in the question – what does Bitcoin look like? Like all computer information, cryptocurrency is a file. Each bitcoin is unique, so if you lose it, then one bitcoin in the system will decrease and another crypto coin will not take its place. And this is the main difference between virtual currency and ordinary one. Bitcoin cannot be re-printed like a dollar. Experts believe that the last of the 21 million bitcoins will be mined by 2140. So you still have time to get rich with this currency.
The benefits of crypto
- Confidentiality. No personal data of the owner of the wallet is tied to the virtual currency wallet. In addition, you can create a new address for each new Bitcoin transaction. This will make it impossible to track the transactions.
- Opportunity to earn on rate fluctuations. I want to remind you that at the beginning of October 2020, the price of one bitcoin was about 10 thousand dollars, and after 5 months the bitcoin rate jumped beyond 60 thousand dollars. Where else can you make money like that in a short period of time?
- Lack of influence on the bitcoin rate from the government and the banking system. Nobody controls Bitcoin. Unlike banking services, the bitcoin system works without interruptions and around the clock.
- the risk of losing money when exchanging bitcoins. Because the activities of the exchange platforms are not regulated.
- the cost of bitcoin can change rapidly or even disappear, because it is not tied to any official state currency.
- the possibility of losing money. The state does not protect consumers in the event of a refund on an incorrect transaction.
- bitcoins stolen from a digital wallet are almost impossible to return.
- lost codes from the wallet cannot be recovered.
How to make money with crypto?
There are several ways to become the owner of Bitcoin.
The original source is mining generating through mathematical calculations. Theoretically, owners of any computers can install mining programs in order to earn bitcoin. In practice, the following features of bitcoin currency mining have developed:
- The economic feasibility of mining depends on the power of the computer. The most powerful gaming video card must be installed in it, then it makes sense to engage in generation.
- Before starting a round-the-clock operation, it is worth measuring the speed of mining, and then comparing the real costs of electricity with the profit received.
- You can significantly speed up the procedure for obtaining bitcoins by joining a pool with like-minded people. Due to the shared network computing resources of each of the participants.
Exchanges are the place where you can make crypto exchanges. Each participant, investing real money, has the right to make transactions. They are related to the analysis of rates, receiving signals, selling and exchanging cryptocurrencies for real money.
On the exchange, each of its participants can replenish an account, buy or sell virtual currency at a certain price. It is shaped by supply and demand. Thus, the cryptocurrency rate on different exchanges may differ. You can buy digital currency through bank cards or payment systems Qiwi, Yandex.Money or PayPal.
Exchange services make it possible to transfer money into the desired currency at the internal rate. Often these transactions do not require registration, you just need to specify the account data from which the currency is transferred and to which it will be credited. On exchangers, you cannot trade with other users, as happens on the exchange.
You should not use the services of the first available exchanger, it is better to check the reputation of such services in advance. Exchange transactions last from 5 minutes to several hours. The exchange speed depends on the speed of the network, as well as the operator. It is also important to know that each exchange service has its own schedule. For those who want to quickly exchange cryptocurrency, exchangers are unlikely to be suitable, since while the operator carries out the operation, the favorable rate may change.
Where to exchange currency without risks. Read my article.
How to buy bitcoin directly? To do this, you need to find a person who is ready to sell cryptocurrency. Most often, the parties agree on a price based on the exchange rate of the virtual currency. In this case, the seller can indicate what percentage of the margin from the exchange rate he wants to receive. The advantage of this option is that the transaction takes place without an intermediary and no commission is charged here. But the absence of an intermediary is not only a plus, but also a minus. Since no one will provide additional security for the transaction. I do not recommend this method of currency exchange. Since you can lose all your money if the seller is deceived.
Crypto without investment
You can also earn cryptocurrency, in particular bitcoin, without investment. There are many resources out there to get Bitcoins for free. I have compiled a list of the most trusted and generous resources. If you decide to get bitcoins for free, click on the links below.
This is a bitcoin faucet, with the help of which absolutely everyone can receive Satoshi for completing various tasks. In the future, Satoshi can be converted to Bitcoin. Almost all tasks do not require real cash investments. Therefore, Cointiply can be regarded as an additional source of income. You can make money from watching videos, completing surveys, viewing sponsored links and much more.
A resource that has become legendary for its honesty. He distributes satoshi once an hour and pays a minute. It also offers simple captcha and not bad ads. Pays directly to your wallet, without intermediaries. You can earn even more by using their Multiply BTC section. Runs a weekly lottery giving away free bitcoins with proof of winners, so use it often.
Also a popular resource for making money without investment. It allows you to make money without investment by watching ads. The profit is paid after accumulating 50 thousand satoshi. Here you can make good money by completing simple tasks.
On this service, you can complete tasks, as well as collect cryptocurrency in one click. Here you will be invited to visit other sites, leave comments on the forums, and much more. Surveys are paid up to $ 14. Free Faucet also has its own Brazio token (BRAZ) which can be earned and then converted into other currencies. Here you can find a good and interesting way to make money.
On this service you can receive satoshi for free in random mode. You have the opportunity to play this lottery every hour. The maximum winnings are $ 300. Agree that this is not bad.
To withdraw the accumulated satoshi, you need a special crypto wallet. It is best to create a personal account on sites that are verified and reliable.
Here are a few of them:
- Blockchain wallet;
- Exodus wallet;
- Payeer wallet.
Can Bitcoin be counterfeited?
Bitcoin registries are protected by cryptography. You cannot fake them all at the same time. There is no way to rewrite data in blocks and claim that someone now has millions. Bitcoin is a very secure currency. I advise everyone to keep up with the times and learn new things. Cryptocurrency is a very promising tool for making money. I myself buy and will buy and earn in this area.