Bitcoin And Its Evolution
Bitcoin as we all know is a decentralized digital currency that can be transferred from one person to another in a bitcoin network. This cryptocurrency was invented in the year 2008. The invention of Bitcoin was done by an unknown group or person that uses the name, Satoshi Nakamoto. We all know that Bitcoin has been in use since the year 2009 after its implementation was released as an open-source software. The transactions of Bitcoins are done by verified network notes cryptography and these transactions are recorded in a blockchain by the process of a public distributed ledger.
Talking about the invention of Bitcoin, Bitcoins were created for the purpose of giving rewards through a process known as mining. Bitcoins can be exchanged in respect of different currencies, services, and products but Bitcoin was criticized for being used in different illegal transactions, for doing price volatility, and it was also associated with thefts from the exchange. Many people use Bitcoin as a source of investment but different regulatory agencies have issued notices and alerts to all the investors regarding Bitcoin. And not only agencies but many Noble Economic Science Laureates like Richard Thaler, Joseph, and Robert Seller have raised their voices and concerns that Bitcoin is a Ponzi scheme.
We all know that Bitcoin first came into the news on 31st October 2008 when it was defined in a white paper. Bitcoin was basically designed as a virtual currency to act as money to complete different forms of payments from one person to another, from one group to another, or from different entities. The basic reason behind creating Bitcoin was to remove the third-party involvement in any financial transactions going on in the market. After it was introduced to the common public in the year 2009 by an anonymous developer, it came into wide use by different groups of people and became the most well-known cryptocurrency in the world.
After people saw the popularity that Bitcoin gained after it came into existence, it gave rise to the development of many new cryptocurrencies. We all know that financial technologies are emerging day by day, so the need for a well secured, and easy mode of payment gateway is very much required by people nowadays and in different forms of businesses that are going on in the world right now. So the competitors thought of creating different cryptocurrencies that would replace Bitcoin as a payment system or can be used as a utility of security in other blockchains and different emerging financial technology. Now Bitcoin has become the world’s largest cryptocurrency if we go by market capitalization.
BITCOIN AND FIAT MONEY
- Bitcoin is very much different from Fiat money. We know that Fiat money is basically the government-approved money or a centralized system of payment. We all know that the government of any country controls the money of that particular country, so the Fiat money has total control of its particular government but talking about Bitcoin, Bitcoin is a decentralized form of currency and no government in this world has authority over it.
- Talking in terms of numbers, any government can print more money if needed in their country whereas Bitcoin has a limitation in its number. We know that there are only 21 million Bitcoins available and out of that 21 million, only 2.8 million are available for mining so this is the main reason for the increase in the value and the price of Bitcoin with passing time.
- Any government and banks store and keep their transactions in their system in a very protected manner but the transactions related to Bitcoin are transparent and all the informations are stored in notes which are in specific computers, so this becomes a way of creating and doing corruption in the society related to bitcoin.
But due to all these reasons, we cannot ignore the advantages that the Bitcoin has over Fiat money –
- In terms of Fiat money, inflation takes place, but in terms of Bitcoin, inflation never happens.
- For doing any transaction related to any currency, people need to share their personal information but in a Bitcoin transaction, any person or any user is not required to share their personal information.
- Every currency has its transaction fees but Bitcoin has very lower or minimum transaction fees as compared to different banks in different countries.
- Different countries have different interest rates and different transaction rates but in terms of Bitcoin, this thing is universal and the value for each and every Bitcoin is the same across all the countries of the world.
- The transaction process of Bitcoin is very easy and convenient as compared to fiat money.
So these are the reasons and many more due to which Bitcoin has created a different space in people’s minds all over the world and people have gone crazy to earn Bitcoin, collect them, have them and become a proud owners of Bitcoins, but we know that the price of Bitcoin is going up day by day and not many people can afford it, so, there are different ways through which Bitcoins can be earned freely online.
So here in this article, we are going to discuss a few ways through which we can earn Bitcoin online.
Ways To Earn Money Online From Bitcoin
- BITCOIN MINING – We all know that there are limited Bitcoins available, so, talking about Bitcoin mining, it is a process through which new Bitcoins are made to enter into the market and circulation. Basically, it is an energy-intensive process in which different systems which are customized to mining are made to compete and solve different mathematical puzzles and on completion of which the minor who solves the puzzle first amongst all is rewarded with Bitcoins.
Basically, these miners take the help of the latest software which helps them to solve different transaction-related algorithm which checks different transactions of Bitcoins, and in return, they are awarded with a certain number of Bitcoins per block. According to the sources, almost 90% of all the Bitcoins available have been already mined and the remaining Bitcoins will enter into the market and circulation by the year 2140. Bitcoin mining is a very costly process, so a normal person or consumer has a very less chance of doing it.
This is a very complicated and tough process and there is a very little chance that we can get a Bitcoin. We can say that the chances are 1 per 16 trillion.
The mathematical problems are so complicated and are designed in such a way to make the existing payment methods more secure and more trust worthy.
- BITCOIN GAMES – The technology is changing very fast. technology advancement is taking place in each and every field, be it automobiles, pharmaceuticals, construction, social media, or gaming. Gaming is one such industry in which technological advancement is taking place at an inconsiderable rate. Nobody has an idea as to what new games will be there in the future. The advancement in the existing games are phenomenal and are unmatched. These Hi-Tech and high-level games are providing various awards for their players and users. One form of reward now a days is Bitcoins. There are different games available right now which allow their players to earn Bitcoins for free. By completing different levels, on reaching certain scores, and defeating a certain number of participants, these games allow us to earn free Bitcoins and this is one of the most easiest ways through which people are earning Bitcoin nowadays.
- BY BECOMING A BITCOIN AFFILIATE – We all know that affiliate marketing is at a boom right now. The market share of affiliate marketing is increasing considerably and has no boundaries. People are making lots and lots of money through affiliate marketing. In terms of Bitcoin, affiliate marketing is a process through which a person can earn Bitcoin free of cost. the basic aim and purpose behind any affiliate marketing are to generate leads and make conversions and earn profits. In Bitcoin affiliate marketing, also a user can sign up to become a bitcoin affiliate marketer on different websites where they can receive payment as a compensation in Bitcoin.
The process for the signing up for any affiliate program is very easy and is available on the internet everywhere. The user just has to visit any Bitcoin affiliate website and then he has to sign up for that particular affiliate program. There they will receive a unique link for their product or any service that they may share and whenever anyone uses their unique link to complete a transaction, the user will get some percentage of compensation and in turn, they can earn free Bitcoins. Talking about different Bitcoin affiliate websites, some of the famous Bitcoin affiliate websites are CoinNama where a user can get up to 15% for each sale.
Ledger, here we can get up to 10% of the compensation.
Treasure here the user can get between 12 to 15% for each sale.
Coinbase, this is one of the best websites and here the user can get up to 50% of the compensation during the first three months after he signs up.
- JOBS AT CRYPTOCURRENCY FIRM – Cryptocurrency firm is one of the major booming industries in the world right now. this is such a particular industry that is moving towards success and profit on a daily basis. these firms are looking for talents and a great workforce. they need the best people who can help them achieve their target before their time limits. These firms are paying their employees a good amount of money along with cryptocurrencies. few of them also provide salary along with Bitcoins to their employees. so this is a way through which a person can earn Bitcoins for free by working in any cryptocurrency firm. these firms are looking for talented people having the right set of skills, knowledge, and qualities that will help them in their digital marketing, in their content creation, in terms of web designing, in terms of security, and many more. so these types of firms have a lot of opportunities available in terms of earning cryptocurrency and Bitcoins if a person wants to for free of cost.
- MAKE BITCOINS BY READING BOOKS – Businesses nowadays have found different techniques and ways to complete their target within the time limit. A very interesting website is there on the internet named paid books. this website basically pays its users in Bitcoins whenever a person completes reading a full book. There are different types of books available in different genres. A person can read a book of his choice and in terms can get paid in Bitcoins. This is the easiest and most interesting way to earn Bitcoins available in the whole world.
- GAMBLING – We know that they are many websites available for gambling. Gambling is always risky but there are people who want to take risks and try their luck. For them, the good news is that there are many gambling sites that are offering Bitcoins as a reward. Many of them are not legitimate but yet there are few legitimate websites available on the internet which provide Bitcoins to their winners. A few names are 7bitcasino and Bitstarz. There are businesses available that are ready to take risks for their customers and who are also ready to take risks to earn money, so by gambling online, a person can earn free Bitcoins.
- THROUGH BITCOIN FAUCETS – Talking in simple terms, Bitcoin faucets are basically the websites that pay their users for clicking their ads. The process is very simple, these websites allow you to click on their ads, and in return, they will provide the users with fractions of Bitcoins. The only thing that the user needs to devote is his time on these particular websites for clicking ads. The fact is that the Bitcoins that are provided by these faucets are very low and very small and it needs quite a lot of time to earn a good amount of Bitcoin. But the fact is that this is a free way and a simple and easy technique through which any person who wants to earn Bitcoin can earn.
- CREDIT CARDS – Like any other normal credit card, there are cryptocurrency credit cards available in the market. Now, talking about this cryptocurrency credit card, here in this credit card, a person whenever completes any transactions or makes any kind of payment so in normal credit card he earns cash back or points for each and every transaction but in cryptocurrency credit card the user will be getting Bitcoins for free. For every transaction and every swipe, the user will be earning free Bitcoins as much as fixed by that particular company. Now talking about few companies which are offering this service are- Gemini is one such company that is offering cryptocurrency credit cards along with companies like BlockFi and Upgrade.
The demand and use of credit cards are increasing day by day among consumers. the buying behavior of people has changed a lot and credit card helps them a lot in their purchasing and making transactions etc. So the concept of cryptocurrency credit cards is very much into fashion and will increase in the coming days. Whenever a consumer completes his transactions, he gets a certain number of points for his transactions and a bonus to get discounts and other facilities, but here in crypto currency card, he will be getting free cryptocurrencies and Bitcoins which are valued far more than these bonus points or cashbacks.
So at last, we can say that these cryptocurrencies and Bitcoins have changed the world a lot in many ways and will continue to bring change in the world in the coming times. People are using Bitcoins more and more with every passing day. There are thousands of people who are ready to purchase and sell their coins. They are many apps that are allowing the trade of these crypto currencies in all the countries across the globe. Many companies are seeing this as an opportunity and as the future of their business when it comes to cryptocurrency and Bitcoins.
So these are a few techniques mentioned above using which any person can earn and collect Bitcoins even if he does not have enough money to buy them directly. The mindset of a consumer and a businessman is changing day by day. They are evolving themselves according to the changing environment and technology, so these are the steps that are taken by different businesses in the world which attract more and more customers and for customers, they are serving their purpose of getting Bitcoins for free of cost. A person feels satisfied with getting Bitcoin as it is becoming a new trend of collecting Bitcoins.
So not only these methods, but there will be several new methods that will be coming up in the future, but it is up to us, we need to think and evaluate all the positive and negative aspects before indulging ourselves in any such financial activities as it may cause profit, as well as loss. Opportunities are available everywhere but it is up to us how we evaluate and see them. Talking in terms of Bitcoin, there are lots of opportunities available in the market and there will be many more coming in the future as this is the future of digital transactions and digital money that we will see in the coming years.
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