At some point, you will start making good money from bitcoin mining. Hopefully, that point has come already. But ultimately, what matters is what you do with that money. Chances are you're not mining as a full-time thing. You do it in your spare time for some extra cash. Well, that extra cash can become a goldmine.
You may not have any experience investing in any market, but these days you no longer need it to get off to a strong start. This investing blog has all the information a beginner investor needs to get going, as well as plenty of more advanced articles. Everything can be learned online now.
Furthermore, you don’t need all that much time to invest, either. These days, artificial intelligence is at the core of the most useful investment tools.
These are the sort of tools that can turn anyone into an investor.
Over the past few years, tons of robo advisors have popped up online. These are exactly what they sound like – and more. A robo advisor is constructed from algorithms that parse all the information available to come up with the trades and investments most likely to pay dividends.
Now, trades and investments today might not act like they did yesterday, and that might discourage you from trusting a robo advisor. However, they don’t only use the information available and the algorithms preprogrammed. They use advanced machine learning to adapt way quicker than a human ever could.
A robo advisor does more than just advise. It will actually do the work for you, making trades according to basic principles you determine at the start. If you ever want to step in, you can, applying that human touch that is sometimes necessary.
The best robo advisors are in fact hybrids. For example, some companies offer expert financial advice from human advisors when you feel you need it.
Increase Your Investment Capital
When investing, you should always be responsible and only use money you won’t miss. This is why money that you have made on the side while mining bitcoin is ideal. But there are ways to add to this investment capital without having to do extra work.
By budgeting, you are likely to end up saving money simply by cutting out costs that you didn’t realize were making such a difference. However, budgeting takes time. Great budgeting apps such as Mint, are therefore perfect tools for those of us who work full time.
Budgeting apps connect directly to your bank accounts and categorize everything for you, showing you exactly where you have spent your money. You just need to assess the neat charts and graphs provided to see how much you've been wasting.
Furthermore, there are apps like Acorn which use the concept of “spare change” to help you save. They round up every transaction you make to the nearest dollar, and put that money into a separate savings account. This small change is something you won’t miss, which means it’s perfect to add to your investment capital.
Investing is no longer for those who have the experience and time. Anyone can do it, and if you're already making extra cash, you might as well give it a try.
The need for a VPN has shot up over the past few years. As we get closer and closer to living our entire lives online, our data becomes ever more vulnerable. We put everything out there when using the internet, from our credit card details to our personal identification.
It’s no wonder that identity theft has become a common occurrence.
Identity theft can be devastating. Not only do victims of identity theft lose masses of money. They also compromise their entire reputation. Getting credit or even a job in future becomes problematic because of misdeeds committed under their name.
However, many people engaged in bitcoin mining aren’t convinced of the need for a VPN. Blockchain is indeed very secure and seems to offer the protection of encryption on its own.
But bitcoin miners actually do need VPNs for a number of reasons. It would be wise to get the top ranked paid VPN subscription that would provide you with additional layer of security.
If you're not convinced yet, you can get one of the real free VPN services and try it without commitment. When you get a better idea, you would be able to choose wisely.
Never enough security
The thing about cryptocurrency is that its very nature requires a certain amount of risk-taking. Everything can come tumbling down with some irresponsible practices, and a currency can be brought to its knees.
Now, you're not going to destroy bitcoin, and the idea that you might is almost akin to suggesting you could accidentally delete the internet. However, just as the currency itself takes every single precaution, so should you.
You are making a living online, and therefore every layer of security helps.
Furthermore, just because the currency is secure, doesn't mean you are. While you are mining for bitcoin, your bitcoin might be safe but your identity is not. You live your life online, including your entire financial life.
It is only prudent that you protect that.
Anywhere in the world
Another reason you need a VPN is that one of the major advantages of making money from bitcoin mining is that you can do it from anywhere.
Travel the world if you like without ever compromising your ability to make money.
Unfortunately, not every country is open to the idea of bitcoin. Restrictive places like China, among others, have banned bitcoin, and you are unable to mine when you're there.
But if you are using a VPN, you don’t need to worry about these bans. You can simply set your server to any other country in the world and mine without a problem. Just be sure that you take other precautions, such as not doing so in a public space.
Speaking of which...
Public WiFi is Dangerous
Even if you're in the US or another open country, you may be in danger when mining in public. This is not because of bans or the like, but because public WiFi is incredibly dangerous.
As long as you're using a public WiFi network, your data is under threat.
Never use public WiFi without first connecting to a VPN, no matter what you're using it for. When you're doing something as financially significant as bitcoin mining, it is all the more necessary.
We are well past the era when people used to wonder what cryptocurrencies and Bitcoins are.
In fact, nowadays you can find various off-line and online places where you can freely use your cryptocurrencies to pay for goods and services.
Such widespread adoption and acceptance has forced bitcoin out of the domain of tech-savvy people, and evolved it as one of the preferred means of paying for transactions in different parts of the world.
Top 10 Countries Friendly to Bitcoin - Bitcoin.com #2 - YouTube
Let’s tell you about few well-known online places where you can pay with bitcoin.
Sports Betting Websites
The past few years have seen a great multitude of online bookmakers opening up to cryptocurrencies, mainly bitcoin. Popular online sports betting websites such as Bodog, BetOnline, Intertops, TigerGaming etc. accept payments in bitcoins and allow you to make withdrawals in bitcoins tool.
Canada sports betting industry has been particularly open in this regard. If you click on the link, you can go through a handful of reputed Canadian sports betting portals that accept bitcoins, and read their reviews as well.
Online Travel Websites
For people who are constantly on the move, and also like to move with the times in every way, Expedia, Webjet, AirBaltic, SurfAir Virgin Galactic and CheapAir are some of the online websites where you can make your travel arrangements using bitcoin.
However, most of these portals accept bitcoins only for hotel bookings. It’s only Surf Air and CheapAir where you can also book your air tickets with bitcoins. Webjet and AirBaltic on the other hand accept bitcoins for car hire, cruises, hotels and some flights too.
Movies and Games Websites
Microsoft is one of the few big tech giants that have shown a great amount of openness to cryptocurrencies.
The company allows its customers to pay for its products via bitcoin. You can upload your Microsoft account with bitcoin and buy various products like apps, movies and games from the Xbox and Windows store.
Apart from the Xbox, people can also buy Zynga online and mobile games through bitcoin.
Some of the other popular online places where you can buy games with bitcoin include PlayStation Network, Humble Bundle and Green Man Gaming.
Online Shopping Websites
People who love buying everything online, Overstock has emerged as one of the big online retailers to offer support for bitcoin.
You can pay for all the things purchased at overstock, including jewellery, furniture, household goods, bedding etc. using bitcoins, just with the click of a mouse button.
Overstock not only allows bitcoin, but is also open to accepting other types of cryptocurrencies such as Dash, Ethereum etc.
In order to pay with cryptocurrencies on Overstock, you’d first need to upload your preferred cryptocurrency to your overstock account, and its systems will thereafter automatically perform the currency conversion.
It shouldn’t come as a surprise to learn that cryptocurrencies have been wildly popular almost everywhere in the world.
This is because they offer a decentralized payment method that can be used anywhere on Earth, without having to abide by international regulations.
However, cryptocurrency’s immense popularity has not sat very well with the Chinese government. In fact, the government has moved to ban all cryptocurrency trading activities within the country, as well as any events related to digital currency by using what is known as geo-blocking.
But despite this, Chinese authorities still appear to be embracing blockchain technology, the underlying tech that supports cryptocurrencies.
So much so that China Center for Information Industry Development has started releasing ratings on different digital currencies based on three different aspects, which includes the crypto’s basic technology, its application, as well as its innovation.
Currency Vs. Asset
The Chinese government has banned the use of digital currency due to the fact that they believe there should only be one entity allowed to issue currency.
However, China still allows its citizens to hold cryptocurrency as an asset, although they are not allowed to trade it or use it as a method of payment.
The Future of Cryptocurrency in China
Despite their aversion to cryptocurrency, back in 2016, the Chinese government added blockchain development to its Five-Year Plan.
Then, at the beginning of 2018, China’s president, Xi Jinping, announced that his government would be committing $1.6 billion towards blockchain development in China.
So, although China continues to outlaw anything seemingly related to cryptocurrency, its government plans to accelerate the development of blockchain technologies. This has left many wondering how blockchain innovation will be possible from within a country with such stringent regulations.
Two of the most popular payment apps in China are Alipay and WeChat Pay. These platforms have gained so much popularity in recent years that even cab drivers and street performers are starting to accept payment electronically through these apps.
Today, mobile payments have bloomed into a massive $16 trillion dollar market, with over 90% of people living in larger Chinese cities stating that they use Alipay and WeChat Pay as their preferred payment method.
So, with Chinese citizens already fervently using mobile payment platforms, it’s safe to say that consumers could be able to easily transition over to using digital currencies.
Bypassing Chinese Geo-Restrictions
Despite the crackdown from the government, Chinese citizens are still determined to use and trade cryptocurrencies. To this day, the government has shut down more than 120 crypto-trading platforms, but that hasn’t stopped the people from wanting to get their hands on digital currencies.
Fortunately, there are a couple of tricks that traders use to bypass Chinese geo-restriction and continue trading. Let’s take a look.
Exchanges Operating Outside of China
By creating themselves as a legal entity based outside Chinese borders, exchanges are still legally allowed to operate despite the local ban.
This is the method used by many Chinese exchanges shut down by the government, which has allowed them to continue their operations.
By using a stablecoin known as Tether (USDT), Chinese investors are still able to enter and exit the cryptocurrency markets.
Essentially, traders are able to use a cryptocurrency exchange that operates outside of China to exchange their fiat currency for Tether. Tether can then be traded for other cryptocurrencies such as Bitcoin and Ethereum.
Instead of directly accessing a cryptocurrency platform, traders are using proxy sites to access cryptocurrency platforms for them.
When you use a proxy site, all of your computer’s data is routed through the proxy site’s server. This means that as long as the server is located outside of China, Chinese traders will be able to access cryptocurrency platforms by hiding behind the server’s IP address.
Using VPN Services
The easiest and safest way that Chinese traders continue to access and trade cryptocurrency is by using VPN services, such as VPNpro’s reviewed Avast VPN.
Essentially, these services hide your IP address, making it impossible for authorities to tell where your computer or device is actually located.
VPNs, or Virtual Private Networks, create secure, encrypted tunnels, which route your computer’s data anonymously back and forth between the server. When using a VPN, the network will automatically assign your data to the same IP address as the server that you’re connected to.
This same server is also used by everyone else who is connected to the VPN, therefore, it’s completely impossible to track your location since there will be hundreds, maybe even thousands, of other people using the same IP address at the same time.
Therefore, by using a VPN to make cryptocurrency transactions, there’s actually very little the Chinese authorities can do to stop you.
Furthermore, as long as the server is located in another country, your computer or device will appear to be located there as well. This allows you to access cryptocurrency exchanges from within Chinese borders, despite the government's efforts to prevent crypto-trading.
Technology has transformed enormously over the last decade, and one of the ways it has made life simpler is through online payments. Early on, we were compelled to perform the tedious job of going to a bank or an ATM to take out cash.
This changed with the introduction of credit and debit cards. However, that sill involved physical presence at a location and limited the use based on some factors. With online payments, a significant alteration came about that resulted in a smooth operation conducted instantly without any hassle.
Moreover, it incorporated previous payment methods seamlessly giving customers a wide range of options. The rise of internet usage and the overall security of personal information, online payments have altered the way we conduct our everyday lives, for the better.
Understanding Online Payments - YouTube
One of the most significant advantages of online payment methods is its use in shopping. From the seller’s point of view, they no longer are confined to selling their products to the immediate neighbourhood.
For the buyer, it has been nothing but a revelation, shrinking the world, and making it easy to buy multiple items from various places with a click of a button while lounging in their living room.
Another benefit that has emerged over the last decade is the process of paying through EMIs. Since online portals give out discounts on a regular basis, if a customer sees something they like, online payments allows them to not only buy the item instantly but also pay for it over time.
The simplicity of online payments is the backbone of online casinos. The industry has developed in such a fashion that gamblers can pay to play however they feel comfortable. With this luxury comes safety wherein inscription technology and confidentiality make transactions secure so people can enjoy games without worrying about anything else.
Online payment methods range from bank transfers to credit cards and bitcoins to select payment gateways. Moreover, the manner in which consumers use to deposit money can then be used to take out money, giving it a holistic approach that is helpful for beginners as well as professionals. The icing on the cake is that online payment consists of little or no transfer charges, making it all the more profitable from the start.
Online payments aren’t always about buying and selling. They bring joy and happiness to friends and family in unique ways. No longer does grandma has to hide money in a birthday card for a grandchild who is in a different part of the world.
Online payments make it simpler to transfer money to bank accounts, payment gateways or even someone’s mobile account.
Money transfers now take place while on the move through mobiles, and once again when it comes to emergencies, this is more than helpful.
To make money you need to invest money, and online payments present that option right in the palms of your hands.
Feel like a winning streak coming while playing online slots or maybe you want to invest in stocks predicting the market will go up in the next hour, online payments simplify the entire process and lets you go about making money in a relaxed manner.
If you’ve read about Bitcoin, you would have also read about Bitcoin mining. Bitcoin mining is nothing but the process of creating Bitcoins from your computer. In this article, let us read about the meaning of bitcoin mining and if it is still profitable today.
Bitcoin mining involves updation of the ledger of Bitcoin transactions, called the blockchain. A user requires extremely powerful computers to perform mining. As a part of the process, miners race against each other in order to guess a particular number.
The first miner to make a successful guess about the number ends up updating the ledger of transactions and is rewarded newly minted Bitcoins.
How does a blockchain work - Simply Explained - YouTube
Currently, if you want to earn profits with Bitcoin mining, there are certain strategies that you need to deploy. In April 2018, several bitcoin miners were at the risk of facing a shakeout and chances of profitability were low.
It is suggested that you put your money on equipment, storage, and cooling. You cannot profitably mine with a PC and GPU at home. Profitability can be calculated with the help of a Bitcoin mining calculator.
What is the need for Bitcoin mining?
Bitcoin has emerged as an alternative to the banking system. This system allows for different operations with the transfer of funds from one account to another. Such a system does not need any central authority.
When users have a trustworthy central authority, money transactions are easy. For instance, when you tell a bank that you wish to transfer $100 from your account to another person’s account, the bank is the authority with the power to process the transaction.
The bank alone takes charge of updating the ledger and holds the balances of everyone in the system
So, what’s the process of establishing a decentralized ledger system? How can you give authority to someone to update the ledger without worrying about the incapability or their negligence?
Bitcoin answers all. It rules and has the required protocol to solve all these problems in a unique and interesting way.
How does Bitcoin mining work?
Bitcoin mining allows anyone to participate. All they need to do is update the ledger of the bitcoin transactions and guess a specific number. The guesswork is more or less done by the computer.
If you have an extremely powerful computer, you have the chance of making more guesses in every second, increasing and improving your chances of winning at the game.
Users that make a right guess earn bitcoins that are transferred into their account. They also get to move on to the next page and write bitcoin transactions on the blockchain.
In a nutshell, mining is the process of earning new bitcoins. It is called mining because you ‘mine’ new bitcoins from the system. However, in totality, mining is just a basic part of the process.
It is actually meant to be the maintenance of the ledger in a decentralized manner.