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    Cryptocurrency: How to Make Money with Bitcoin - The Investor’s Guide to Bitcoin Mining, Bitcoin Trading, Blockchain and Smart Contracts
    Cryptocurrency: How to Make Money with Bitcoin - The Investor’s Guide to Bitcoin Mining, Bitcoin Trading, Blockchain and Smart Contracts
    Cryptocurrency: How to Make Money with Bitcoin - The Investor’s Guide to Bitcoin Mining, Bitcoin Trading, Blockchain and Smart Contracts
    Ebook62 pages1 hour

    Cryptocurrency: How to Make Money with Bitcoin - The Investor’s Guide to Bitcoin Mining, Bitcoin Trading, Blockchain and Smart Contracts

    By David Blake

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    About this ebook

    Be one of the thousand investors that are making money from Bitcoin!

    Cryptocurrency: How to Make Money with Bitcoin is your one-stop guide to everything that you need to know about the number one cryptocurrency in the world; Bitcoin. This handy manual will teach you the ins and outs of Bitcoin, as well as how you can turn it into a goldmine.

    Bitcoin has been growing in popularity. It’s new, advanced, and a breakthrough that is already set to change the future of the financial institutions around the world. Hundreds of people are loving this digital currency not only because it offers a lot of practical benefits in sending and receiving payments, but also because they can make money from it!

    In this book, you will have a clear, concise understanding of what a cryptocurrency, Bitcoin, and blockchain technology is all about. You will also learn what smart contracts are and how they work. While there are many benefits to Bitcoin, there are some downsides too, which is why this book points them out to ensure you can sidestep them when it comes to making your own Bitcoin investment.

    Learn:

    • What a cryptocurrency is
    • What a Bitcoin is
    • Blockchain
    • Smart contracts
    • Bitcoin transaction process
    • Altcoins
    • Pros and cons of using Bitcoin
    • Ways to make money with Bitcoin
    • Bitcoin trading and investing
    • Bitcoin mining
    • Bitcoin gambling
    • Best practices
    • The future of Bitcoin

    And so much more!

    LanguageEnglish
    PublisherDavid Blake
    Release dateMar 4, 2018
    ISBN9781386006046
    Cryptocurrency: How to Make Money with Bitcoin - The Investor’s Guide to Bitcoin Mining, Bitcoin Trading, Blockchain and Smart Contracts

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      Book preview

      Cryptocurrency - David Blake

      Introduction

      These days, bitcoin is continuously gaining popularity and public acceptance. Many people want to learn how Bitcoin works and hope to find their way to financial freedom. In fact, the majority of those who use bitcoin do not actually use it as a substitute for money. Instead, they see bitcoin as a lucrative investment, and for good reason. The value of bitcoin has been constantly increasing over the years. As of November 2017, the price of 1 bitcoin has reached more than USD 8,000, and it is only climbing higher. Although bitcoin is also subject to the usual fluctuations in price, if you look at its long-term price movement, it is easy to recognize that it is a very profitable investment.

      Before any person can take advantage of what bitcoin offers, you need to have a good foundation and understanding of what bitcoin is really all about. The following chapters will teach you the ins and outs of bitcoin. You will learn more about Bitcoin and its brief history. You will also get knowledge about what cryptocurrency and blockchain technology are that you are going to be able to use for a wide variety of lucrative purposes in the near future.

      Bitcoin is continuously improving. We will tackle what the pros and cons of using Bitcoin are to ensure you get started on the right foot. Knowing about these will help you avoid the common mistakes that many new investors make, and prosper where they have burnt out early. As you continue reading this book, you will be guided on how you can effectively make money through Bitcoin. Soon, you will understand why thousands of new investors put their trust in Bitcoin every single day.

      Bitcoin’s development has been really fascinating, in less than a decade it has grown from an online novelty into a world-changing economic powerhouse. No wonder why many people all around the globe are now trusting this new digital currency. To see where things might be going in the future, we will also discuss Bitcoin’s likely future as well.

      Chapter 1: Bitcoin Basics

      What is Bitcoin?

      Bitcoin is a digital currency that is held and stored electronically. It functions as a substitute for money. It also has a decentralized network. This means that no central authority or government controls it. Remember, Bitcoin does not have a physical existence; it only exists online.

      Bitcoin is the most popular and successful cryptocurrency in the world. As of November 22, 2017, the price of 1 Bitcoin is around $8,179 (USD).

      Bitcoin is accepted and used by different merchants worldwide: The gaming platform, Steam, accepts bitcoins. The giant computer software, Microsoft, also accepts payment in bitcoins. The company engaged in space tourism known as Virgin Galactic also accepts bitcoins. Overstock and even some sellers on Shopify accept payments in bitcoins. Many individuals and merchants use Bitcoin. The good news is that with the increasing popularity of the Bitcoin cryptocurrency, more and more people and businesses are being open to the idea of using Bitcoin.

      Cryptocurrency

      The term cryptocurrency refers to a digital asset that is secured by cryptography. Cryptography is the process of securing information. The application of cryptography can be traced back to the time of the Second World War when it was important to ensure that information and communication between and among the parties are secured and would not be disclosed to the enemy. After some time, cryptography found its application in cryptocurrency by converting information into codes that are almost uncrackable, which can then be used to track purchases and all other transactions. To date, there are more than 900 cryptocurrencies that have already been created. Creating a new cryptocurrency is easy. In fact, a basic knowledge in C++ will allow you to generate your own cryptocurrency in just a few days. The problem is that it is not easy to effectively promote a cryptocurrency, much less to convince people to take interest and use or invest in your cryptocurrency.

      You can consider cryptocurrency as the primary Internet money since it is stored and transacted online. Keep in mind that cryptocurrencies like Bitcoin are not considered legal tender. Therefore, they are not a medium of payment that can be used by a debtor to compel his creditor to accept payment, except if payment in cryptocurrency is stated in the contract. The good news is that

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