Bitcoin is a type of cryptocurrency. It is decentralized and easy to operate. The user can use this Bitcoin for multiple purposes. Bitcoins are earned through some very interesting ways.
How do you get Bitcoin?
Certain websites work on PTC (Paid To Click) model. People are paid to watch ads and click on websites for traffic. It’s a time-consuming process and earning is too low. There are online platforms where people can post their blogs and news on Bitcoin. These people are paid for their content contribution on Bitcoins.
A person can provide a Bitcoin related service such as a blockchain developer, mining expert, and online marketer. If a user has a collection of bitcoins they could lend it to the developers by charging interest. Bitcoin can be traded if a user has enough domain knowledge. Buying it through an online exchange and selling it when prices are high.
How to buy Bitcoin?
Bitcoins are also earned through affiliate marketing. There are companies who pay in bitcoins for promoting their product or service. Another way of earning bitcoins is through Gaming. Games such as Coin brawl & Chopcoin shell out bitcoins for the winners. The most effective way of earning bitcoins is through mining.
Bitcoin mining is a tedious process. High-end mining platforms produce bitcoins. The mining devices used for this purpose are ASIC (Application Specific Integrated Circuit) or GPU (Graphical Processing Unit). These devices help in solving complex mathematical problems. Sometimes it is difficult for a single miner to earn rewards as bitcoins.
Therefore, companies hire a group of miner’s to solve the equations. It is called a miner pool. Mining is also possible on the cloud. A company can also lend its data center to a miner for solving these problems. This way the user could avoid investing in expensive mining equipment and both parties are benefited.