From the moment it was created and released, bitcoin has become synonymous with cryptocurrencies. Even though you’ve never traded, you’ve heard of her. It is a digital currency created by a group of people hidden under the pseudonym Satoshi Nakamoto in 2008. Its value was then negligible and amounted to $ 0.003. As time went on, the value grew steadily. Of course, there were occasional declines, but very soon this currency would find an upward trajectory again. When its value was equal to the dollar, many were surprised by its success and it was considered to have reached its maximum. Today we see that this is not true because the current value of this cryptocurrency is $ 57,656.30.

What are virtual currencies?

Virtual currencies are a digital display of value and can be considered a specific type of asset that their holders are willing to hold and/or exchange electronically and use sporadically for payments. Virtual currencies are not money because they do not fulfill the basic functions of money, and this is especially affected by the great volatility of their value, as well as the fact that the offer of a particular virtual currency is based solely on technological solutions and not on the needs of economies or monetary system. There is no insurance system, and there are a large number of operational and other risks of property loss. This especially refers to the use of so-called Virtual currencies are digital displays of value and can be considered as a specific type of asset that its holders are willing to hold and/or exchange electronically and are used sporadically for payments, in accordance with the belief that such currencies have real value.

There are many ways to get bitcoin, but the easiest way is to buy bitcoin. You can do this in several ways, and some of them are shopping at an exchange office or through an ATM. Cryptocurrency traders prefer to choose ATMs because the transaction is simpler and takes less time. All you have to do is swipe your credit card and choose the amount of bitcoin. After a successful transaction, you need to place your virtual money in a virtual wallet that can be cold and hot. Although a cold krypton wallet is safer because it saves you money on hardware, people prefer hot ones because of easy access via the internet and mobile apps. Of course, a hardware wallet is also a much larger investment. Thus, real traders know it is profitable. Learn more on safex.org.

Now that you have your first digital money, you are ready to try to make more money by trading cryptocurrencies on one of the many platforms or doing the mining. The biggest difference between trading and mining is that mining will take you more time to make money, and you need special equipment that is a huge investment for someone who is just starting in investing in digital currencies. The chances of making money increase if you join one of the mining pools. Trading is much simpler, and many mobile applications that, thanks to artificial intelligence, monitor changes in the market for you, also bring great relief.

Another way you can earn bitcoin is to, if possible, ask your employer to pay you a salary in this digital currency. Another option is online shopping. Many online stores reward their loyal customers with gift vouchers or a bonus in the form of bitcoin. Why not take this opportunity when you already have it?

A referral program is a very common and good way to make money. You can also make money this way if you register on any platform that has a referral or affiliate program and thus start recommending their services.

For each person who opts for that platform through your recommendation, you will be rewarded. Network marketing and various vouchers that are sold have nothing to do with this form of earnings, although at first glance they seem to have. You also receive the reward for a successful recommendation directly and without any intermediary.

If you have excess free time, you can monetize it by watching ads through certain web services, and the reward for growing is a payment in bitcoins. It’s a great way to earn your first bitcoin if you don’t have money but are willing to spend a lot of time. Also, if you manage any free web content such as a blog or simple web applications, you can put your public key on the page and ask for donations in bitcoins.

What is the difference between a cryptocurrency and a standard currency?

Standard currencies, such as the dollar, are issued by central banks. They control the amount of money and its value. In the case of cryptocurrencies, this is done by private individuals, who create and supervise them. But of course, this does not happen without any control. Another difference between standard money and cryptocurrencies is that their transaction is done only among people who are members of that currency system. Therefore, no intermediary companies belong to this relationship. The result is that the transaction is free and faster than the usual money transfer. However, there is one similarity with standard currencies, and that is that the value of cryptocurrencies is determined by their use-value. This means that there must be a mutual agreement between users of cryptocurrencies that for a certain number of bitcoins, for example, they can buy a certain number of things. It should be borne in mind that even a paper on which 20 dollars are printed does not have that monetary value if there is no consensus among the users.

Final thoughts

Now that you know the ways you can earn bitcoin, it’s time to arm yourself with patience and embark on this adventure. Another very important thing is that you do not enter more than you are willing to lose. Also, to begin with, it is recommended to invest a smaller amount of money, and it is recommended to invest in several different currencies so that if the value of any of it falls, you will lose everything you had.