Category : Earn Bitcoins

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How to Borrow and Invest Bitcoins

How to Borrow and Invest Bitcoins

The new type of currency has been made in the year 2009, which is Bitcoin, it is digital currency system accepted worldwide. Bitcoin offers the guarantee of lower transactions expenses than conventional online installment components and is worked by the decentralized authority; it is not like the currency which is issued by the Government. Today, more than $7 billion of the Bitcoin currency is in the market circulation. At the time of writing this blog post, the worth of 1 Bitcoin is around 7,000 US dollars.

There many people who are unaware that how to Borrow and Invest Bitcoins. In this article, you will learn about the procedure, just read the below content.

How To Borrow Bitcoins:

The following steps will teach you that how to borrow Bitcoins:

  • The First step is so easy, just visit the site bitbond.com, you need to enlist there as the Bitbond client, for this, you should enter your name, email address, make the password and in last give a portion of the essential data about you which will be asked there.
  • This step is necessary since you will be asked to provide your financial information to them; you must be watchful in giving this, after this, your registration is done.
  • In last, you must post the request for Bitcoins; you will have maximum 1000 characters in which you have to complete the application.

In this way, the procedure for borrow Bitcoins is completed.

How To Invest In Bitcoins:

The following steps will teach you that how to invest the Bitcoins:

  • Firstly, you have to supply your bank and financial information and let it be verified.
  • After this, you will find “Invest the Bitcoins” option or similar to that on your wallet page, you just need to click that, and set the details.
  • Your request will utilize your bank money to invest the Bitcoin.

The above methods are so simple, if you want to invest or borrow the Bitcoins then visit: bitbond.com and start trading.

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5 Step For Beginners To Start With Bitcoin Trading

5 Step For Beginners To Start Trading Bitcoin

Have you been reading our posts? Today we will focus on the novice Bitcoin traders. Here, I will bring to you an easy guide in trading Bitcoins where you will reap a profit.

Cryptocurrency trading is the new thing and Bitcoin-the oldest can be extremely rewarding in terms of the spread. By spread I mean the arbitrage profit you will get by differing market prices. That is, the global market margin is widely available. This is usually as a result of different cross-rates calculations. With this, arbitrage comes in and many people can easily exploit this by trading Bitcoins.

If you have been careful about the cryptocurrency and economic news you watch; you will realize that there is a certain criterion followed by Bitcoin and any other Cryptocurrency out there. First, it is usually volatility followed by the bubble. With each bubble, the media attention shifts focus to Bitcoin. This spread of news creates attention and Bitcoin prices become volatile. That is with the increased attention; more people start tinkering with Bitcoin which becomes a hype and then the trading. This lasts until the Bitcoin hype fades.

Trading in Bitcoin is very easy. The reason for this lies in the fact that Bitcoin is global and has very little requirements. In fact, there is little to no verification when it comes to trading.  Like any other security in the market, investors want their Bitcoins to maximize their wealth while the speculators want to gain their spread from arbitrage.

To start trading in Bitcoins, you need to join one of the many online trading companies offering CFD. This stands for Contract For Difference.

What makes Bitcoin trading easy?

The answer to this question lies in the various characteristics of Bitcoin. Some of these also lie with other cryptocurrencies but are more advanced and recognized in Bitcoin. These are:

  • Volatility: Like any good speculating security in the stocks market, Bitcoin is volatile. Its prices are always yawning and are frequent enough to for daily charts. Actually, CoinDesk BPI provides these charts on a daily basis.
  • 24-hour trading: What makes Bitcoin more profitable and better than the securities market is that it trades 24/7. Part of this lies in the fact that Bitcoin is global and there is no time limit because of the different time zones.
  • Bitcoin is decentralized: This makes it independent of the various government controls. Also being decentralized makes it global meaning that any economic control in one place does not directly affect its prices. Such controls would be the devaluation of currencies or various controls in capital markets. Actually, these measures by the governments are what makes the prices of Bitcoin rise. An example is the 2013 Bubble created by Cyprus capital controls.

These factors have made Bitcoin a favorable security to invest and speculate in. actually, the other cryptocurrencies use Bitcoin as a Benchmark when it comes to trading.

Starting Bitcoin trading

Before we head there, it is important to know a few things when it comes to Bitcoin trading. First is that China leads in Bitcoin Trading. All the data collected from the many sources show that trading volumes in China are dominating the market.

It seems ironical considering that China is one of the most restrictive states to have a flourishing cryptocurrency in the market. Some might consider this a freedom of expression since Bitcoin is independent of any state power. However, that is not the case as most if not all Chinese Bitcoin Blockchain merchants consider Bitcoin as an asset to be capitalized on. That plus the following reasons is what makes China the leading Bitcoin Trader globally.

Global Leaders in Bitcoin

China hosts one of the largest Bitcoin miners, Bitmain. Bitmain operates two pools that accounts for almost 30% of all Bitcoin processing power. The other reason for China’s dominance is that the Bitcoin trading is that the Chines government had relaxed its finance regulations. This made trading much easier. This means that the Bitcoin market was also more developed and mature than the rest of the world. In the market, leverage was always maximized by lending, options, and derivatives. Also to this is that in China, exchanges were not charged. This means that Bots could trade non-stop to increase the spread in case of arbitrages.

This, however, has changed and the market dominance has shifted to Japan. The reason for this is that the Chines government has started imposing trade restrictions on virtual currencies. This is especially so on the companies that offer Initial Coin Offerings(ICOs) such as the oldest company in China BTCC. Others such as Huobi has have been exempted but the deadline will be on October 30.  As of September this year, Japan had slightly over 50% of the global trades.

Getting started with Bitcoin Trading

The first rule of the thumb is that Bitcoin has no official trading exchange. This leaves the duty of searching testing and trading to you. Have no worries though, there rules to follow while selecting these trading sites.

  1. Location:  Where the company doing the exchange is very important. This lies in the rules, laws and the regulations of that country. Also, this goes with the type of currency the exchange is taking. The recommended action is to always take exchange company in your country.
  2. Purchasing: The mode of purchasing is important. What method does the exchange take and what will work to your convenience?
  3. Exchange fee: You need to pay a certain fee when doing the exchange. Check if it has been inflated or if any other fee stands to reason.
  4. Security: Is the website HTT or HTTPS. The authentication steps to follow when entering your account.

After going using these basics to get your preferred site; you should also be able to avoid being scammed. There are many people over the net trying to get yours over using Bitcoin scams. Try to avoid these as much as you can.

Now, there are some reputable sites where trading is safe, secure and reputable. The following is a list that I have compiled. This is according to my best knowledge and your input and addition are welcome. This is compiled in terms of USD volume from the first.

Buy Bitcoin from best Bitcoin Exchanges

  1. Bitfinex. This exchange is the first in terms of USD volume. Its daily volume is 25000 BTC.
  2. Bitstamp. The company was founded in 2011 making it one of the oldest exchanges. its daily volume is 1000 BTC.
  3. Coinbase. This was the first exchange to be regulated in the United States. Coinbase trade volume is about 8000 BTC daily.
  4. Okcoin. Since the downfall of China dominance in the market, Okcoin has taken a huge dip but its worthy to mention it in the list. It used to trade at over 9000 BTC but this has fallen to less than 1000 on the day of publishing this article.
  5. Another worthy mention is Kraken. It is the first in terms of EUR daily trading volumes at around 6000 BTC. This makes it top 20 in terms of USD volume.

Trading risks

Like any other security in the market, Bitcoin has its own trading risks. Some of these are discussed below.

  1. Leaving money on Exchange:

Bitcoin is an independent non-participant currency. Apparently many do not know this. one of the most remembered cases is the Gox collapse. During its time, it was one of the largest exchange points. It was one of the easiest ways to obtain Bitcoins but on its collapse, users left more than 800,000 Bitcoins in Gox accounts. In February 20014, withdrawals were halted and up to now not have received their funds.

The best way to avoid a case like Gox catastrophe is to use a regulated exchange.

  1. Capital risk: Your capital your risk. You should start trading at low amounts then growing to larger and larger when you start gaining profit. This you will do after learning the strategies and understanding the market signs.

Above anything else, before trading, you should search and find the best strategies to use in trading Bitcoin. There are many resources on Bitcoin on the internet that you should utilize to your fullest.

Step by Step Bitcoin trading

To trade, you will of course need to sign up an account. Kraken will be used in this excerpt as a general guide to get you started.

To open an account, go to the official website and click sing up box.

Confirmation will be done using email. Once this is done, you will log in and fill your personal information.

Once you sign up and all your levels or verification are procedures are followed. You will get the following.

 

kraken_01

By the way. Every Exchange must follow the AML and KYC laws for verification.

Once your account is set up; go to funding and select your preferred choice of funding. You will get the following screen shot.

kraken_02

As with Kraken, there are many choices of deposits to choose from.

These are:

  • EUR SEPA Deposit (Free) – EEA countries only
  • EUR Bank Wire Deposit (€5) – EEA countries only
  • USD Bank Wire Deposit (Free until 3/1/2016, then $5 USD) – US only
  • USD SEPA and SWIFT Deposit (0.19%, $20 minimum)
  • GBP SEPA and SWIFT Deposit (0.19%, £10 minimum)
  • JPY Bank deposit (Free, ¥5,000 deposit minimum) – Japan only
  • CAD Interac Deposit (Free until 3/1/2016, then 1%, $10 CAD fee minimum, $5,000 CAD deposit maximum)
  • CAD EFT Deposit (Free until 3/1/2016, then 1%, $10 CAD fee minimum, $50 CAD fee maximum, $10,000 CAD deposit maximum)

The deposits are different. With the banking system, the deposits take a maximum of three working days to process while with Bitcoins it can take about an hour but with six different confirmations.

To begin trading, select Trade tab. You can switch the trading pairs to match which you want using the black bar. To begin our trade assuming a $300 deposit in the account, select new trade. Here, you see that Bitcoin is trading at 0.5XBT for $37O per Bitcoin.

kraken_03

On checking the last trade, the price was $383.17.

The reason for this is because, one may submit at a lower price than the current one. This is done when expecting a fall in the prices of Bitcoin. Since in this case my bid is lower than the market price; my order will be processed later than the others. This is so because of placing an order through the Limitorder. This places an order by a particular price. Before placing an order, you should check the orderbook for your trading pair before deciding the price.

An example is the following:

kraken_04_bitcoin_order_book

As you can see, there are various prices through which people have placed their orders. You can skip this by placing an order through the market price. Such as the following:

As such, the market order will submit a buy order at the lowest possible available sell order which is 0.5XBT at $384.07 per XBT. If it is selling, it will place at the highest sell order of which is $382.5.

If you liked this blog post, please follow us on Twitter @coins_iq and also make sure to subscribe to our e-newsletter to receive the best and latest information on bitcoin, cryptocurrency, crypto trading and bitcoin investment!

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Top bitcoin investment sites

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Best Bitcoin Investment Sites and Exchanges

There are quite a few exchanges as well as industries which are using Bitcoins as the default currency. Instead of just holding, you can deposit your Bitcoins on these websites on a daily interest. You can also withdraw your Bitcoins whenever you need them. Thus, instead of keeping the Bitcoins as it is in your wallet, you can opt for depositing the Bitcoins in these investment websites in order to get a consistent return.

We would today share with you some such options which would help you in investing your Bitcoins.

1. Bitbond.com:

This particular website allows you to lend to other businesses as well as individuals using Bitcoins. Depending on the credit rating of the borrowers, you would be able to get interest on the Bitcoins which you are lending. This website is a form of peer to peer lending only the currencies in the form of Bitcoins.

2. Ethtrade.net:

This website offers you a return in the range of 15% on a monthly basis when you’re depositing your Bitcoins. They use the Bitcoins for trading purposes. They also provide you with a secure and easy interface when you’re depositing your Bitcoins or withdrawing your Bitcoins through this website. The website is consistently trading in different crypto currencies as well as Bitcoins. Owing to this very reason, it needs as many Bitcoins as it can get. That is why this is a good option when you’re trying to invest Bitcoins.

top-bitcoin-investment

3. Ebitinvest.com:

This website offers a platform for crypto currency trading. That is why they are looking for Bitcoin deposits. You would be able to get a monthly interest on your Bitcoin deposits. Currently, they are offering a very high-interest rate on Bitcoin deposits. That is why you should research very well before investing with this website.

4. Bitcoininvest.eu:

This company is registered in the United Kingdom. They use Bitcoins to trade in stocks as well as other crypto currencies. They offer you up to 3% on a daily basis. They have different plans depending on the number of days for which you want to invest.

As you can see, when you’re looking for top Bitcoin investment sites, you have to look into these few options. You have to research the top Bitcoin investment sites carefully and after that, you would be able to get the correct website through which you would be able to earn interest by depositing Bitcoins.

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The Beginner’s Guide to Bitcoin and the World of Cryptocurrencies

What is Cryptocurrency

What is Cryptocurrency

First things first, what is a Cryptocurrency?

Cryptocurrency is a digital electronic that’s not issued by a government, unlike traditional currencies; but rather created electronically as the generation of cryptocurrency units. The verification of transaction processes is controlled by complex encryption techniques performed by computers instead of a Central authority.

Bitcoin, the first cryptocurrency in the world, was lanuched in 2009 by an anonymous programmer (or group of software developers) who goes by the pseudonym ‘Satoshi Nakamoto’.

In this article we will be talking about Bitcoin; specifically as it is the first cryptocurrency created and #1 in the world of cryptocurrencies.

But first of all, we need to understand what distinguishes bitcoins; (or Cryptocurrencies generally) from conventional currencies and what are their distinctive properties.

So what makes Bitcoin or Cryptocurrency so unique?

Bitcoin is characterized mainly by being digital as it is produced by computers through a process that’s called “Mining”; which involves complex encryption techniques and has no physical properties.

“Bitcoin Mining” is the definition given to the process through which bitcoins are generated and the transactions are added and verified. ”Mining” is performed by special fast computers solving complex mathematical problems; using the appropriate software in order to create or “mine” bitcoins and get rewarded with bitcoins in return.

For each block that is generated the miner is rewarded with 25 bitcoins. This value is halved every four years until all bitcoins are mined (yes the total number of bitcoins to be ever mined is limited).

In the current financial system, central banks along with other political institutions are responsible for controlling and regulating the processes of monetary units generation.

On the other hand, Bitcoin is a decentralized cryptocurrency as the process of its generation is not controlled by any government or central authority. The supply of bitcoins depends solely on the efforts exerted by the miners.

Bitcoin is a virtual currency, as the private keys for your bitcoin addresses (which are used to access your bitcoins) are stored in digital wallets.

So a Digital Wallet is the first thing you need to have in case you want to buy bitcoin. There’s a variety of digital wallets to choose from.

You can have your digital wallet on your desktop or on your mobile or have an online digital wallet, or you can have it as a physical device (which is considered by many to be the safest and most secure storage option.

Another options for bitcoins storage include storing at an Exchange (which offers several services as well like exchanging, sending and receiving bitcoins) and there are many competing Exchanges and wallet providers at the moment so it won’t be difficult to find one nearby.

Bitcoin is a peer to peer currency, meaning Bitcoin operates on a network of user based computers, and the bitcoins are transferred from one party to another across the internet with no 3rd party needed for the transfer process to be completed but the whole network nodes are responsible for monitoring and verifying the transaction process and that is the main idea of the Bitcoin mechanism.

But how does Bitcoin work?

We mentioned before that miners and the connected nodes of the network are responsible for monitoring and digitally regulating the transaction processes that take place between senders and receivers.

And as we know now, bitcoins are stored in digital wallets. Each of these wallets has a unique private key used and known only by the user and a public key which is considered to be the user’s payment address.

In order to understand how transactions work, there are 3 main parameters that are needed to be known and specified for a transaction process to be initiated

  • The address of the bitcoins sender
  • The address of the bitcoins receiver
  • The amount of bitcoins to be transferred from the sender to the receiver

The transaction carries a digital signature that is produced when the private key of the user is mixed with the data he wishes to send in a mathematical algorithm and each transaction has its own digital signature.

When sender “A” decides to send an amount of bitcoins games to receiver ”B” through Internet, the transaction with its data is combined with other requested transactions that are requested at the same time to be recorded in what’s called a “Block”.

Each block has its unique ID, time of the process and a reference to prior block.
The block is then broadcasted to each node in the network.

For a transaction process to take place, all the nodes of the network have to confirm the validity of the process and the authenticity of the digital signature using the public key of the user. This process also prevents
double-spending from taking place making Bitcoin a safe middle of exchange.

Once verified by the nodes of the network, the “Block” representing the transaction is then added to what’s known as the “Blockchain” which is a distributed public ledger shared by all the nodes of the network and functions as a database where all the transactions process are stored.

We can think of a blockchain as a giant ledge containing all the transactions that ever happened. Once a block is added to the blockchain, it cannot be modified nor can it be removed.

“We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownership.” – Satoshi Nakamoto

How to acquire bitcoins?

Currently there are two methods to get bitcoins:

1 – Become a “Miner”: which is not recommended if you are a beginner as it requires expensive efficient mining hardware (like FPGAs and GPUs) for the mining process to be profitable because using slow CPUs is not a practical solution at all considering its poor output with respect to time.

Also Read: How to mine Bitcoin?

2 – Buy them: You can buy bitcoins through an Exchange or online by yourself using your fiat money or credit card, but, as we mentioned earlier, you will need a wallet in which your bitcoins can be stored.

At the Exchange, things work the same way they work at Stock Exchange, a buyer offers to purchase an amount of bitcoins with the price that he wants to pay for each bitcoin, and a seller offers to sell an amount of bitcoins with the price at which he wants to sell each bitcoin.

When the price placed by a buyer matches the price placed by a seller a trade takes place automatically.

And this how the price of a bitcoin is determined (At least for now because the number of bitcoins generated is still increasing and will continue to increase till all bitcoins are mined, after that the value of the bitcoin won’t rely really on its Supply but might rely on its Scarcity or on other variables) with the exchanges being responsible for organizing the trades between buyers and sellers and fixing the price of bitcoin according to the supply and demand of the cryptocurrency.

Here’s a list of some famous Bitcoin Exchanges by country:

The United States

  • Bitstamp: recommended because of the low trading fees it imposes on Bitcoin trades
  • Coinbase: one of the top Bitcoin exchanges that offers wide variety of services including: storing, exchange, buying and selling bitcoins and other cryptocurrencies like Litecoin and Ethereum as well. It operates in 32 countries.
  • Cryptsy: platform that offers its services for different cryptocurrencies and not just Bitcoin.
  • Gemini
  • Kraken : operates in the U.S, Canada, the E.U and Japan.

India

  • Zebpay : has applications for Apple devices and Android users
  • Unocoin: India’s leading Bitcoin Exchange which is known for being backed by investors in the United States and Indian investors as well.
  • Coinsecure: an Indian Bitcoin Exchange that is known for its extremely low fees.

China

  • BTCC : the Chinese bitcoin exchange is the world’s second largest bitcoin exchange
  • LakeBTC
  • GateCoin
  • Huobi : enabled Etherium trading recently .
  • OKCoin : operates in many countries worldwide.

Australia

  • CoinJar
  • BuyaBitcoin
  • Coin Loft

To summarize, in order to buy bitcoins you need to:

  • Open an account with the bitcoin exchange you choose. (Make sure you know how much fees the exchange charges for purchases)
  • Fund your account with fiat money or link it with your bank account
  • Place an order

Once your order is fulfilled , you can use your bitcoins

Is there anything else I can do with my bitcoins?

Besides shopping and using them as a long-term investment , Yes! There is!

Peer to Peer Bitcoin lending platforms

Peer to peer bitcoin lending platforms are places for the borrowers to borrow bitcoins and the lenders to lend bitcoins to borrowers at specific interest rates. As the name suggests, these are peer to peer networks; where the files and data are sent to and from nodes; without the need of a central server which provides security to the clients.

Peer to peer bitcoin lending platforms offer lenders relatively high monthly interest rates that range from 3% to 8%.Though Lenders don’t pay fees, however borrowers do (but they are considerably low).

And in case you’re looking for low-risk options, you can open a bitcoin saving account, deposit any amount of bitcoins into your account and earn interests.

Here the three current best peer-to-peer bitcoin lending platforms:

1-Loanbase : Based in San Francisco and launched in 2013; Loanbase is considered to be one of the world’s largest peer to peer bitcoin lending platform. Borrowers and lenders from all over the world meet there to borrow and lend bitcoins.

2- Bitbond : founded by  CEO Radoslav Albrecht, Bitbond is one of the safest peer to peer bitcoin lending platforms. It has facilitated bitcoin loans for more than 1,500,000 USD and has over 80,000 registered users. It has the AutoInvest tool which makes auto-investing easier.

3- BTCPop : Based in the UK, BTCPop is the world’s largest peer-to-peer bitcoin lending platform , it operates in over 60 countries and it is the first Bitcoin bank in the world!

Bitcoin Games

Bitcoins can be used in games and they can be mined too by playing games. There are two types of games that involve the cryptocurrency: Mining games, where you play mobile games, solve puzzles ,  and answer questions to get bitcoins in return,however you don’t really earn that much from mining games but in the end of the day you play games and get bitcoins in return so it doesn’t sound bad!

Here’s a list of the best Bitcoin Faucets

And there are Gambling games and Casino games like Poker,  where you use bitcoins instead of traditional money.

Challenges facing the fast-growing cryptocurrency

Bitcoin and cryptocurrencies  face a number of massive challenges due to their unique characterstics.

Energy Consumption

The biggest challenge with Bitcoin is the extensive energy consumption of Bitcoin mining process. According to Digiconomist, the  amount of energy consumed in Bitcoin mining process combined with the amount of energy consumed in Ethereum mining process exceeds the amount of electricity used by Jordan , Syria, and Iceland all combined. However ,according to researchers, modifications to the PoW systems is one way to reduce high-energy consumption.

Renewable energy sources can be used in the future for the Bitcoin mining process to be more efficient and sustainable.

Limited Supply

Since the mathematics behind  the Bitcoin system limit the number of the bitcoins to be created; the maximum  number of bitcoins to be ever  generated  is fixed (It is said to be around 21 million); which consequently means that the value of bitcoin will eventually rely solely on its demand which in turn depends on several factors  like the trust in the Bitcoin system , the utility  and flexibility of Bitcoin as a currency, the investors , the governments, and the energy needed to keep the system going (which one of the major challenges facing the fast-growing digital currency at the moment ).

By the end of 2009, the year in which the bitcoin was launched, over  1.6 million bitcoins have been generated. The number of generated bitcoins increased dramatically to reach 5 million by 2010. And by 2012 the total number of bitcoins that have been mined reached 10 million.

As of April 2014, the total number of Bitcoin users surpassed 2.5 million with a monthly average growth of  5.46%

The number of merchants,  businesses and retailers who accept bitcoins as payment is increasing as well. According to Overstock.com Inc. board member Jonathan Johnson , the cryptocurrency transactions processed had tripled since the Internet retailer decided to recognize Bitcoin as a method of payment.

Legal Status of Bitcoin

Many governments have serious concerns regarding the anonymity aspect of bitcoin. Despite the fact that each of the transactions that happen in the Bitcoin system  is recorded in a public ledger; the identities and names of buyers and sellers remain secret (except their wallet IDs of course) . While that protects bitcoin users’ privacy, officials are concerned about the possibility that Bitcoin makes money laundry and the transactions in underground economies easier . And unfortunately Bitcoin ,since its creation, has been used widely by criminals to trade illicit goods and fund their illegal activities.

Some  governments are working toward imposing regulations on Bitcoin and the other cryptocurrencies, which in turn strengthen the legitimacy of digital currencies.  While some others adopted an unfriendly attitude towards the fast-growing digital currency. Russia has taken an action against Bitcoin banning the digital currency and the government prohibited individuals and entities from using cryptocurrencies.

The E.U recognizes the cryptocurrency as a convertible currency.  A few days ago, the government of Australia has introduced a bill that would impose regulations on the decentralized global digital currency in an effort to counter money laundering and terrorism funding.  And earlier this year,  Japan recognized Bitcoin as a legal method of payment.

In China ,the country whose mining pools control about 70% of the Bitcoin network’s hashrate, possession and trading of bitcoins by individuals is totally legal, however the government did not impose regulations in favor of  Bitcoin, yet.

For more information about Bitcoin mining in China , check this link.                                                                                     https://www.buybitcoinworldwide.com/mining/china/

In the United States, a congressional hearing was held in November 2013 to discuss the legitimacy of cryptocurrencies including Bitcoin. At the hearing, a federal  judge representing the Department of Justice described the virtual digital currency as a “legal means of exchange”.

In March 2014, the IRS (Internal Revenue Service) which is responsible for collecting taxes released guidance regarding possession of virtual currencies, and the guidance recognized “Bitcoin” as “property”. In July of the same year, the New York State Department of Financial Services imposed regulations in favor of Bitcoin. Bitcoin is accepted as a method of payment by many U.S based retailers and companies; such as: Dell Inc, Overstock.com, WordPress , GYFT and Amazon.

In India, there are many Bitcoin exchanges that operate in the country and Indian authorities are researching  Bitcoins and holding hearings to discuss the future of the legal status of the virtual currency in the country.

According to Sandeep Goenka , the CEO of Zebpay, the number of Indians interested in investing in Bitcoin is increasing rapidly.

The Future of Bitcoin

The 7 years following the creation of Bitcoin proved that cryptocurrencies have the potential to replace traditional currencies; and could be the next big thing of the 21st century. With their values  skyrocketing and rising up after each drop they experience. 2017 was a great year for cryptocurrencies and Bitcoin specifically, as Australia and Japan recognized Bitcoin officially as a method of payment; to impose regulations on the digital currency and the value of promising currency hit an all-time record high climbing above $4500 just a recently.

Bitcoin is still in its infancy and still has a long way to go before it can replace traditional currencies but it did prove that it has the potential to become the future of the financial world.

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How to Earn Bitcoins Playing Games?

how-to-earn-bitcoin-playing-games

Interested in bitcoin? Looking for ways to easily earn free bitcoin? Love playing games? How to earn bitcoins playing games? Look no further, because all you have to do to earn free bitcoin is to play a few games online!

It may come as a surprise, but there are tons of websites out there featuring free games that you can play to win bitcoin as a prize. If you’re already playing games in your free time, why not make some virtual cash while doing it?

In this article, we list several different types of games, from quiz to mobile, in which you can play for free bitcoin. If we’ve missed any on this list that you know of, feel free to send us a message or suggestion.

Note: As always, remember that playing games for bitcoin isn’t a way to get rich off of bitcoin. It is, however, a great way to earn a bit of money with a little bit of fun. 

How to earn bitcoins playing financial games?

Maybe you majored in finance in college or you have an interest in money. Either way, there are some financial games out there that you can use to earn your first bitcoin. One of the most prominent financial games here is SparkProfit.

SparkProfit is a financial simulation game in which you try your hand at making predictions about real financial markets. Imagine trading stock, but without losses and only bitcoins to be gained. And, you can trade in digital currency markets too! In this game, the better you do, the more you earn. Unlock more currencies as your predictions are more successful and build up points. If you manage to become a top trader, you could be earning up to $100 in bitcoins per month!

How to earn bitcoins playing business investment games?

If you’re looking for more money related games, but more on the business side, look into FarmSatoshi. If you’ve ever played Farmville on Facebook, this game might ring some bells. In FarmSatoshi, you grow a farm and look after the animals on your farm. It’s simple to get started – get the game and just follow the on screen instructions to easily gain levels in the beginning.

However, to excel in this game, your dedication and time management skills must be delicately honed. You must constantly be upgrading, completing levels, and keeping your hungry farm animals satisfied by keeping their water, corn, hay, carrots, and grain supply filled. Once you’ve built up a healthy thriving farm, the bitcoins easily follow after.

Also Read: Bitcoin Investment

How to earn bitcoins playing mobile games?

If you love mobile games for their flexibility and ease of use with your smart phone, then look into these mobile games. The first game we want to talk about is SaruTobi, a game reminiscent of Flappy Bird, back in its day. In this mobile game, you’re an 8-bit monkey called SaruTobi that swings around vines in a jungle, collecting bananas and coins along the way. With the bananas, you can upgrade various tools to propel you and help you get around. Any coins you collect are free bitcoins! Get it in the iTunes store for Free and start making free bitcoins today!

The second mobile game is for you Android owners out there – Oh Crop! This game pits you against a plant uprising in an apocalyptic future. Plants come from all sides to bombard you with seeds, vines, and various other plan-related parts. To earn bitcoin from this game, you’ve got to get a top score and appear on the leaderboard.

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