Today I am going to explain to you what are bitcoins and how do you get them. But first, a little story how I made some easy money.
Last year I bought bitcoins for around 600€ when my friend recommended them to me. I knew that this guy is very skillful when it comes to investing. I decided to give bitcoins a try. Today I just checked what are my bitcoins’ value and it was +2100€. So I already had made about 1500€ without doing anything. Well, a few mouse clicks.
I need to admit that it was the easiest money that I have ever made. Today I just withdrew a very small part of my wins but I am going to maintain my bitcoins because I believe that they are going to raise in value even more.
Will Bitcoin Bubble Burst? – UPDATE 5.12.2017
I have now earned more than $20,000 with cryptocurrencies. The value of Bitcoin and other coins is just going up and up. Is it just a bubble? I believe that the value will keep on rising for a long time based on the reasons that I mention in the video below:
What Are Bitcoins?
Bitcoin is a first decentralized digital currency founded in 2009. It is somehow similar like any other “normal” currency like euros and dollars. You can pay your shopping with bitcoins. You can trade it to other currency or other goods. It has a certain value that changes like other currencies’ values change.
But there are a few differences about bitcoins.
1.Inflation doesn’t affect bitcoins. It is already defined how many bitcoins there will be in the future. No one can make them more than it’s defined beforehand. Compare this for example to dollars. 100 years ago $1,000 was a big money. But if you have $1,000 today, it’s only worth for $45 compared to 1916.
There are much more dollars out there every year so the further we go, the more their value goes down. Who knows if after one hundred years every second person in America is a millionaire because of the inflation. But inflation doesn’t have any effect on bitcoin because nobody can make more of them. That’s a big benefit!
2.Bitcoin transactions happen immediately. Let’s say that you want to transfer money to your friend who is living in a different city or country. If you make a normal bank transfer, it usually takes 1-3 business days. Money doesn’t get there immediately because the bank needs to transfer your money and it takes time.
With bitcoins, you don’t have to wait for days, hours or even minutes. Usually, the transfer happens in a few seconds. Think how easy it is to transfer money with them. This could also help many companies and business owners. Sometimes a company wants the money on their bank account before they start doing anything.
But you need to wait for 1-2 days until money gets there. I work as a transport manager and I know that using bitcoins would make some actions much easier and probably make more profit to companies.
Here is a video which will explain you even more simply what are bitcoins and what can you buy with them.
Bitcoins are generated all over the Internet by anybody using a free application called Bitcoin miner. Mining bitcoins produces new bitcoins but it requires work from the server and the computer so it’s not very fast process.
How Does Bitcoin Work?
Instead of me explaining you with long complicated lines how bitcoins work, I recommend you check one or two of the following videos which explain with pictures and simple explanations all about how bitcoins work and how people can change them.
How Does BitCoin Work?
How Bitcoin Works in 5 Minutes (Technical)
Some Examples of Bitcoin Profits
Today in 25.12.2016 the value of a one Bitcoin is $883. The price has grown hugely in a few years as you can see in the graph above. If you had bought, for example, 100 bitcoins for $100 5 years ago, you would have now $88,300 value in bitcoins. Quite a good profit for a $100 investment, huh?
Bitcoin reached its highest value so far in 2014 when one bitcoin was worth even over $1,000. I believe that bitcoin has a great potential of growing in the future because more and more people are starting to use it and becoming aware of it.
As I mentioned before, I have made already around 1500€ with bitcoins and I bought them last year. However, that’s only a little sum if I compare what some of my friends have already earned with bitcoins.
Where Can You Already Pay with Bitcoins?
The amount of companies that are accepting bitcoins grows year by year. You can already pay with bitcoins in tens of thousands (if not hundreds of thousands) companies. You can buy flight tickets online with bitcoins from some airline companies. Then you don’t even need to pay $5-10 transaction fee what you should be paying if you are paying with a normal bank account. I experienced this when I was buying my flight tickets from Finland to Germany in the last summer.
You can also pay your stay in many hotels already with bitcoins. Just to mention some other companies where you can pay with bitcoins:
- Subway fast food restaurants
- WordPress.com (the biggest provider of websites)
- Namecheap (one of the best domain name servers online)
- Microsoft (for example in Windows store)
- Reddit (you can pay premium features with bitcoins)
- Expedia (online booking agency)
- Many supermarkets or local grocery stores
So you can already use bitcoins in many different places. And if the trend keeps on going the same way, a number of companies will grow even more. Why wouldn’t company like to accept bitcoins? Most of the time it will bring them, even more, revenue.
Where to Buy Bitcoins? (Get a $10 Bonus Today)
There are a massive number of pages online where you can buy bitcoins today. However, not all of them are very reliable and some of them were hacked in the past. That’s why you should choose a big and a reliable provider to avoid losing your money because of hackers. Optimally you will buy bitcoins from many different sites because if one of them get hacked, you don’t lose everything.
The best bitcoin place to buy and exchange bitcoins according to famous bitcoin sites is Coinbase. Here are some reasons.
- It gets A+ trust score (the best)
- it scores 9,85 out of 10 in BestbiCoinExchange.io
- It is also one of the biggest bitcoin exchanges in the world
- There are more than 32 countries supported, 5,1 million customers and more than $5 billion exchanged.
UPDATE! 16.1.2017 I have seen many controversial reviews about Coinbase on the Internet. Read my full review to find out more.
I have also used Coinbase myself and I can’t find anything negative about it. The platform is user-friendly and even beginners can use it easily.
Today you can get a $10 for free if you buy your first bitcoins if you register through my link. When you buy your first bitcoins for $100, you and I will be given extra $10. That way you are also supporting YourOnlineRevenue.com and our work on this website.
If you just want to earn easily $10, you can just deposit $100. Take your $10 bonus and then sell all your bitcoins right away. You will earn $10 in 5 minutes. Easy money.
Have you heard about bitcoins before? Do you have them? How much profit have you made? Leave a comment below!