Trading successfully requires knowledge and practice. The trading market is occupied by very large players who are just waiting for newbies to come in and throw their money away by trading aimlessly.
Blockchain Basics: What Are You Investing In?
Investing in Bitcoin mining Some people would like to invest their money into mining Bitcoin. For the past few years mining Bitcoin is only profitable if done at large scales. This means you will need to get expensive mining equipment and hopefully have access to free electricity.
Some of you may have heard of all sorts of sites that allow you to mine Bitcoins through them. This is known as cloud mining and these sites fall into one out of two categories: If you want to learn more about my take on cloud mining read this post.
These sites can be categorized mostly as scams or HYIPs high yield investment programs. What these sites usually do is they take money from people around the web and promise to give them good returns. They will then start off by paying these returns through money they get from new sign ups and create a big buzz around the site.
How We Built This Motif
Usually they will also have some sort of referral program so that users can bring in their friends. No more payments will be made and a lot of people will get mad that they got scammed. I have reviewed many Bitcoin investment sites in the past 3 years e. Any site that promises you something that is too good to be true is probably just a facade for scammers trying to steal your coins. How can you find out if a site is a scam for yourself?
Easy, use our Bitcoin scam test tool. So should you invest in Bitcoin? Bitcoins are scarce and useful.
There is a limited amount of gold on earth. As new gold is mined, there is always less and less gold left and it becomes harder and more expensive to find and mine.