Back in 2013, Gain Bitcoin’s CEO Amit Bhardwaj was just a mid-level entrepreneur trying to invest in Bitcoins. His approach was simple; buy bitcoins, wait for them to increase in value, and then sell them. While there is no shame in this method, he soon realized that the real profits came from mining the cryptocurrencies. Amit Bhardwaj dumped his formidable startup to start a cloud-based Bitcoin mining company. As of the moment, Gain Bitcoin has over 100000 users who pool their resources to mine the cryptocurrency. So how does Bitcoin work?
Mining
How do you feel about printing your own money? Well, that is what Cryptocurrency mining is all about. Cryptocurrencies do not have a central issuing body. Rather, their production and transfer will involve a process referred to as mining. Mining involves the use complex algorithms done on certain software programs to create the Bitcoins. The mathematical algorithms are freely available to anyone who would like to begin the process. Note that in order to perform these cryptological functions, hardware upgrades and advanced computer systems are required.
Bitcoin
It is the first ever cryptocurrency or digital currency to be used. The concept behind Bitcoin was born out of the meteoric growth of the internet. With the internet’s rapid expansion, e-commerce is becoming one of the biggest sources of revenue in the world today. With this, it has become more apparent that having an online currency to carry out transactions is not only feasible but necessary. The benefits to be gained out of using Bitcoins were quite clear from the early stages. The fact that the Bitcoin can be exchanged, traded, and holds value while not being subjected to intermediaries such as banks makes it ideal for online transactions. Bitcoin was trading at $15 in 2013, as per the moment, one Bitcoin is worth more than $5000. Clearly, this is something you would like to consider as a business venture.
But where do you start?
How to Go About the Mining
A few years back, mining Bitcoins was easy and could be done from the confines of your home using your desktop. However, with more people joining the fray, the mining process has had to be standardized in order for the cryptocurrency to retain and gain value. Your PC can no longer cut it, to run the complex functions; you’ll need a mining rig that uses Application-Specific Integrated Circuitry to perform the mining. One of these rigs might cost you a couple of thousands. In addition to being expensive, these rigs will consume a lot of electricity, and you might run into insurmountable overhead costs before you are able to make sufficient ROI. As a beginner, your best bet would be to invest in a cloud-based mining company such as Gain Bitcoin.
These cloud-based mining companies are cryptocurrency mining industries that have all the equipment and manpower necessary to complete this feat. They do this by having users pool in their resources to share their hashing power in order to solve a block of calculations. Once the block is solved, a Bitcoin is generated from which it is shared among the users based on their individual input.
Why You Really Need to Invest in Bitcoins
1.Bitcoin Adoption
The rate of its adoption is at an accelerated pace worldwide. More merchants are accepting it as a mode of payment and with good reason. The current $152 trillion debt that the global economy is wallowing in has seen governments implement draconian financial policies. The decentralized nature of bitcoins ensures that this currency remains unaffected by the fluctuations of the traditional market.
2.Bitcoin’s Safety
Bitcoins offer you unprecedented levels of cash security that are impossible to have using traditional forms of currency. For one, Bitcoins cannot be altered, hacked or interfered with in any way. The idea behind it is that each Bitcoin has an address; yours. This means that unless you decide to send your bitcoins to someone, there is no other way they can lay their hands on your bitcoins. Additionally, they work in the reverse direction of which traditional currencies operate. Credit cards, for instance, work on a pull basis. When you perform a transaction using your card, the merchant will have full access to your credit line, from which they will pull the amount you owe them. This makes you vulnerable to ill-willed people. Bitcoins, on the other hand, work on a push basis which means that you send the amount you owe them without them having access to your information.
3.Low Inflation Risk
The biggest problem with traditional currencies is inflation. There is always a possibility of waking up in the morning and finding your money has lost some of its purchasing power. This problem cannot be eliminated because the governments are constantly printing more money. With bitcoins, however, inflation is not possible because bitcoins are designed to be finite. In fact, only 21000000 Bitcoins are ever going to be mined. This attribute is what ensures that Bitcoins are only going to increase in value and more reason as to why you should invest in them before the process stops.
4.It is Unstoppable
25 years ago, if you would have told anyone of what they could do on the internet now, they’d think you have been watching too much Sci-fi. The same holds with Bitcoins. In a couple of years, Bitcoins and other forms of cryptocurrency will be the most trusted means of conducting transactions. In fact, in the near future, you will be hard-pressed to find an online business which doesn’t use cryptocurrencies as their main form of currency.
Amit Bhardwaj, has been on the forefront of the Bitcoin awareness campaign. He understands the potential that Bitcoin has and is already enjoying its benefits. Gain Bitcoin is the largest cloud-based mining company that also offers the best ROI on your investment. When you invest in the Bitcoin mining company, they use your money to increase their hashing power. The better the hashing power, the faster the bitcoins are mined, and the faster you are given your piece of the cake. Gain Bitcoin offers you 10% of your investment every month for a period of 18 months. This means that you will have gained back your initial investment in 10 months and made more. You can always renew the contract after the expiration date.
It is projected that the last Bitcoin will be mined at around 2050. Based on population growth data, it has been deduced that by that time, there will be 1 Bitcoin for every 500 people. It only makes sense to rise to the occasion while you still can because a few years down the line, investing in Bitcoins will be almost impossible.
Share This Article
