Cryptocurrency

Bitcoin- Set Cash Registers Ringing

What is the quickest way to earn money in the current times? The logical answer is through a well paid job or setting up your own business? Well, to be frank, they are more of old school if you compare it to today’s times.

Also, the youngsters who have just freshly graduated from college have little to no experience on how and where to begin, not to mention the cash crunch in their families. 

Children from business families don’t want to join family business and want to try it out on their own but cannot do so as they don’t have an idea of what to do and their family is not so generous as to waste millions on his capital.

Luckily, cryptocurrency market that came into being in the late 2000s proved to be a god gifted boon for such luck deprived individuals which they utilized to the fullest extent as soon as they got the opportunity.

Granddaddy of Crypto Money

Leading the pack in the crypto world is bitcoin, which is far ahead of others in the game like litecoin, ethereum, etc. as it proved to be an enormous success overnight and has the reputation of turning paupers into princes.

Thus, it can also be considered the granddaddy of cryptocurrencies as it is so relatable to everyone and doesn’t distinguish between rich and poor. It is the same for both classes and whether you are a success or a failure in it entirely depends on your skills in bitcoin trading and purchase.

It is easy for naysayers to say that Bitcoin was born out of despair and is virtually the last resort for people who are at a dead end in life and have nowhere else to go other than taking extreme steps.

Some other experts are of the opinion that bitcoin is nothing but a gambling technique and is basically a lure for the gullible minded fools who are looking out for opportunities on how to become rich overnight without the need to slog it out in monotonous 9 to 5 jobs in office.

While they may have strong arguments in this regard but it is a known fact that there is no such thing as free lunch in this world and you always have to pay for what you eat.

The granddaddy, bitcoin, does not differentiate between elite and underprivileged, as mentioned above, but what matters is that the people who are interested in purchasing bitcoins need to have a keen analytical mind as well as sound knowledge of market currencies in order to succeed in this trade.

Creating Awareness

After a booming start in the initial stages, bitcoin suddenly declined to abysmal depths in the early 2010s as people started to dismiss it as a flash in the pan and a get quick rich scheme.

Soon, it became so ridiculed and vilified across the world that people gradually abandoned their faith in it and started looking out for newer options. Indeed, it was the worst case scenario for the makers of Bitcoin as there was a nadir in business trade.

Therefore, before trying out for Bitcoin, beginners are advised to understand it in its entirety and need to create awareness that it is not as easy as it is made out to be and it may have similarities to an investment scheme, it is far different from it and depends on the market value of crypto currency.

Being decentralized in nature, it does not have a central bank to govern and regulate it and it is its own boss. For youngsters who have purchased bitcoin just for the sake of making money, there are numerous measures on how to do it in a safe way without incurring losses.

Some are as follows:

  1. Bitcoin Mining: It is similar to gold mining in the sense that the miners have to bring out the gold, bitcoin in this case, and make it known to everyone. While paper money is regulated by banks, bitcoin has a unique software to solve problems and have bitcoin exchange
  2. Take help from a website called Bitcoin Faucet as they generate their revenue from different ads
  3. Pay to see websites will give you bitcoin if you watch their videos in their entirety
Nicole Hennig
Nicole Hennig
Nicole Hennig is a freelance writer, content writer, blogger, and also a photographer. She graduated from the University of Caloocan in Johannesburg, South Africa in 2015.

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