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We will Guide You to Earn Money with Bitcoins
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2. Bitcoin : open source cryptocurrency
Bitcoin is a distributed accounting system
No central authority -> does not depend on trust
to single or couple of institutions.
Like cash, but for the internet
Created by pseudonym Satoshi Nakamoto
Based on a peer-to-peer network of computers
running the bitcoin software.
The transactions are verified by proof-of-work
system of computers running a mining software.
3. WAYS TO MAKE MONEY FROM BIT COIN
Just like everyone else I tried different methods to
make a consistent and steady income from the
currency.
I started out by trading Bit coins trying to profit
from the exchange rate.
Although it sounded pretty simple in the beginning
it turned out to be much more complicated than I
thought.
4. WAYS TO MAKE MONEY FROM BIT COIN
Setting up your own Bitcoin website to generate a
passive income
Mini Earnings- A bit of your time, a bit of cash
Writing- Turn your literary skills into cash
Selling products and services
Lending- Loan some bitcoins, earn some interest
Gambling- If you got some luck you might make
some money
5. Pros
No unpredictable inflation by ”printing more
money” by political decision.
Transactions travel instantly
Send money in seconds to anyone with internet access – with
zero transaction costs.
Highly anonymous, in certain conditions
Every transaction is public, though!
If you memorize your private key, the only way to
steal your bitcoins (even for the authorities) is to
torture you (or spy or hack your computer).
Easy to use
6. Cons
Bitcoin is rather new and its still in marginal use high
volatility..
Perhaps not suitable for any country’s official
currency.
Lose your private key -> lose your bitcoins.
7. How it works
Every ”account” consists of the public key (=
bitcoin address) and the private key.
Anyone who knows your public key, can send
you bitcoins.
To spend bitcoins, you have to know the
private key.
The transaction is broadcasted to the bitcoin
network.
The miners confirm the transactions
8. Who accepts bitcoins?
Namecheap
Wordpress
Many nonprofits accept bitcoin donations
Archive.org
Bitpay (= simple interface for merchants)
Bitspend.net (order anything with bitcoins)