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| Bitcoin |
Hey, how’s the going? I
am sure by now you know what bitcoins are. Just in case you don’t, here’s a
brief description. Bitcoin is a form of virtual currency with which you can
purchase and pay for goods and services. It belongs to a group of virtual
currencies together known as crypto-currency. There are several types of
crypto-currencies like litecoin, dogecoin, altcoin and lately Ethereum and
Bitcoin Cash. But, bitcoin happens to be the first and most valuable of them
all. Bitcoins have peculiar units of measurement. They are BTC (Bitcoins), mBTC
and Satoshis. 1BTC(1 Bitcoin) = 1000 mBTC and 1 BTC =100,000,000 Satoshis. It
can be mined online using the processing power of a computer (old method) or
buying a specially designed hardware with huge processing power or even buying
and selling them on an exchange. You require a virtual or hardware wallet to
store the currency and there are several credible exchanges online where you
can change virtual currency into real cash. If you want to know more about
crypto-currencies, I suggest you do some further research online.
Mining vs Trading
Before I break things
down, here’s a bit of very important information. When I first wrote this piece
15th
August 2016), the price of 1 bitcoin on CoinDesk was valued at $588.53,
down from $600 about a week or two earlier due to a hacking incident of a
bitcoin exchange in Hong Kong. Today 6th August, 2017, the price hovers back
and forth between $2,600 and $3,000. So the question at this point would be,
should you mine or trade bitcoins? Okay, here’s the deal! It’s believed that
about 70% of all bitcoins have already been mined and by January 2018 80% would
have been mined. People have actually pulled resources together to purchase
ultra powerful processing hardwares purposely to mine therefore individual
mining is no more cost-effective. Infact it’s considered a waste of time unless
you join what is called (pool mining). How about trading? Yes you can trade in
bitcoins but how wise would that be? Bitcoin has reputation issues. In some
countries, it’s not been fully accepted as a legal tender
1.
Crypto-currency is still not fully
developed and no one knows the direction it would take in the future.
2.
Black-hat hacking issues (Criminals
hacking into exchanges and stealing crypto-currency).
These and other
uncertainties tend to make the price of bitcoins and other crypto-currencies highly
unstable and high risk. Therefore it would not be very wise to buy and sell
bitcoins at this moment but well if you are not risk averse, you can give that a shot because experts believe bitcoin will go up to $10,000 soon. Well, you can still do it if you don’t mind the risk
involved. There is a great alternative though and it’s totally free.
The best alternative
(How and where to earn free bitcoins)
Okay, I know you have
been waiting to read this portion, so grab a chair, sit tight and pay rapt
attention. Ever heard of PTC (Paid To Click)?? This is just a way
of getting paid by viewing adverts. After
personally investigating and participating, I have come to the conclusion that
it’s the best way to earn bitcoins for free without any hustle. All you need is
about 2hrs a day or better still, if you can spare more of your time, the
better. After a couple of weeks investigating online, I came up with three
websites that offer these services but pay in bitcoins. Note that, this does
not in anyway, necessarily mean that, these websites are faultless. It only
means that by my experience, it remains the safest method to earn free bitcoins
if you have the patience, that is. Afterall, there’s no risk involved except
your time, electricity and internet bundle. Here’s the list of three that I
consider credible.
1. ADS 4 BTC
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| ADS 4 BTC |
ADS 4 BTC is my favourite. They display the real unit of
BTC you receive, not in Satoshis or mBTC. Ads are delivered into your account
to be viewed as and when they become available so there’s no limit on how much
you can earn. Click here ADS 4 BTC
to sign up. The good thing is that some of the ads come with some substantial amount
of BTCs, implying also that, the amount you can earn for viewing an ad is not
fixed. The only downside is that, on sign-up, you’re asked to choose the best
time you would prefer ads to be delivered. Once that is done, it can’t be
changed. This is very important
because it makes the difference between the number of ads that would be delivered
and those you might miss out on because of the set time.
2. COIN ADDER And FAUCET HUB
2. COIN ADDER And FAUCET HUB
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| Coin Adder |
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| Faucet Hub Payment Proof |
From
my experience I have concluded that Coin Adder is another good place to earn
some free bitcoins. You get to earn a maximum fixed amount of 75 Satoshis and a
minimum of 25 Satoshis (equivalent to 0.00000075
BTCs and 0.00000025BTCs) for every ad viewed for just 14 seconds depending
on your location. The only problem with Coin Adder is that, a set of between 6 and
maximum 15 ads only, are delivered to be viewed daily and that’s it. No ad
would then be delivered again until the next day. If you have no time to sit
around waiting for ad delivery then this is great for you. It is a sort of
touch and go platform. They require that you sign up for Faucet hub to receive
your payment. Not only that, you can also earn bitcoins doing similar tasks on Faucet hub if you wish but you need it for payment vetting and approval. The beauty of it is that, you can then shift to other projects. Click
here Coin Adder and here Faucet Hub to register and start earning. The above images display my payment proof..
If on the other hand, you’re
thinking about mining? Here’s where to go - Genesis Mining. They have existed
for over two years and it looks like they are here to stay. Theirs is cloud mining
which is a form of pool mining (all the purchased hash power is pooled
together for the mining and shared according to one’s contribution). They
do the mining on your behalf with their machines. What you do is that you buy
what is called hash power at a certain minimum price. Hash power is basically
the speed at which you want the mining to be done for you. Have you heard about
the “doubling bitcoin” craze that’s going on around the world? That’s what this
is all about. You can even customize the amount you want to buy and you can also
either buy with credit card or with bitcoin. I joined recently and here’s my strategy. I use
the bitcoins I earn from the freebie platforms to buy the hash power on Genesis Mining and then bingo I am off.
Downside
of Cloud mining
However, there’s a downside
even to cloud mining that you need to be aware of. Those who had set up the hardware
would require that you pay maintenance fees which include electricity, cooling, maintenance and more. The fees vary on platforms. Platforms like Genesis
Mining would cancel your contract without giving you any profit if the
maintenance fees exceed profits from the coins being generated by the hashpower
you bought, simply requiring that, you need to invest more to buy hash power.
This should tell you that, a single bitcoin isn’t easy to come by so always
beware of those promising to double what you have. Before you invest it’s important
to determine the profitability of the investment. This website Crypto Viral
can help you do that.
Conclusion
PTCs are great for people
starting from ‘ground zero’ (no money to invest) in any online venture and in this case, earn bitcoins. Besides
if you are a novice at making money online, it’s never advisable to pay and
join any website that promises to make you ‘rich quickly'! It’s high risk! PTCs are a
safe place to start since they don’t require monetary investment. The trick is
to sign-up for 2 or 3 of such sites that are credible, withdraw earnings when you
earn the required minimum and invest it in other ventures like Genesis Mining . The whole point to this is that, the $5 worth of Bitcoins you hold to today, could become $200 tomorrow. However, if you have the resources then purchasing
hardware, setting up a mining rig and joining a mining pool is probably the
best option of them all. The whole idea with PTC is to
raise capital and invest somewhere else. Anyway, share this article if you found it
useful. Feel free to comment or ask any question as well. The investigation
continues!!
