The first way to make money by bitcoin is use a program that you install on your device, which is free and open source and you can download it from the official Bitcoin website. But in this case you should always pay attention to the condition of your device and its maintenance.
The second way is to open a portfolio through companies specialized in Bitcoin services, and this is the best way to check on your portfolio against loss or piracy. If you like to earn bitcoins online then use online trading website.
How to get bitcoin
After you got the wallet for free, it remains for us to obtain bitcoin, as we previously said that having a wallet is similar to owning a bank account. Your wallet is now empty of bitcoin. To get bitcoin, there are several methods, as follows:
- Buying bitcoin from a company that provides this service like coinable.
- Buy it directly from someone who offers it for sale.
- Get it as a bitcoin gift cards.
- Get it as support or donate to a blog or association by publishing your portfolio title or donation button.
Obtain it in the form of real metal parts by ordering it from this site titanbtc and it will be sent to your residence address. Bitcoin is somewhat reminiscent of an “economic bubble.” Difficulty changes every 2016 blocks (14 days). With its help, the network controls the frequency of the appearance of new blocks – each calculation should take about 10 minutes
This method was one of the most effective ways to obtain Bitcoin and because the currency is generated electronically every person prefers to mining Bitcoin himself, but this matter has become in the news was and in order to be able to mining a small unit. Despite that, there are still people who practice the mining process and invest their money in buying powerful computer hardware or subscribing to cloud mining services, and one of the most important companies is the Genesis-mining company.
How do these platforms make profits?
According to the same report, these platforms achieve profits through fees and commissions that you get from every process that takes place on its platform; it is known that when you buy or sell cryptocurrency, the intermediate platform gets a profit from that process called commission.
Profit can range from a few cents to a few dollars, and companies and platforms compete in this area to reduce commission to increase the number of daily operations and thus the profit will increase.
Also some of these platforms, or most of them, provide storing cryptocurrencies that the user has purchased in digital wallets that take a simple commission annually or monthly.
Competition is increasing in this area
Any field in which there is competition is a highly profitable field, the cryptocurrency sector and the crypto sector in general are profitable.
More and more startups are emerging day by day, and more websites and blogs are racing towards news coverage or providing services to their audiences.
The growing competition makes companies operating in this field double their advertising budgets, and some have even tended to reduce trading fees in an attempt to win a large audience.
The American company Robinhood has removed the fees and made the trading completely free and it hopes to succeed in this way and we do not know its future plans. Will it include the imposition of simple fees?
On the other hand, competing platforms like Binance are thinking of reducing fees they charge on traders, and are moving towards decentralization.
Regulation, protection and transparency are requirements that platforms need to adapt to
In the United States, South Korea, Japan, and the United Arab Emirates, the platforms operating in these countries are subject to laws and accountability.
Transparency is a strong demand in South Korea, so it requires traders to prove identity, and companies are increasingly demanding users to identify themselves.
On the other hand, these companies employ specialists in encryption, protection and combating denial of service attacks, in order to meet the security threats they threaten.
It is not excluded that these platforms will establish lobbying stations for them in the decision-making circles and parliaments in major and important countries.