Trading research

Basically, the following two options are available to you:

  •     Mining (mining Bitcoins).
  •     Trading: buying and selling via Bitcoin Exchanges and exchanges.

So one way you can get Bitcoins is to do what is called mining. This means that you generate Bitcoins with the help of computers that have to solve complex computational tasks. Consequently, mining is also referred to as prospecting. The problem, however, is that it takes far more than an ordinary home computer to solve the complex computational tasks in an acceptable amount of time. Instead, computers with much higher capacities and performance are required, the purchase of which usually amounts to more than 10,000 euros. Thus, mining Bitcoins, for example, is generally not profitable for ordinary private individuals, especially since the high power consumption must be taken into account in addition to the purchase of the required technology.

Disadvatages of Mining

As a result of the disadvantages of mining, most consumers who would like to have Bitcoins or other cryptocurrencies use the second variant, namely the purchase or trade via special online platforms. These platforms are sometimes referred to as cryptocoin exchanges or exchanges and are quite comparable to trading platforms of forex brokers, through which you can trade forex, CFDs or even securities, among other things. Most of these exchanges work according to the same principle, namely that you can buy corresponding coins, such as Bitcoins, there against payment of euros or another central bank currency.

The reverse way is also possible, of course, so you can sell bitcoins in Exness mt4 held in your portfolio. We have compiled a list of the best brokers for Bitcoins and cryptocurrencies, including reviews from traders, in our Bitcoin Broker and Exchanges Comparison.You should note that trading Bitcoins and other cryptocurrencies naturally incurs fees, but depending on the type of exchange or platform, these are often within a moderate range of a few percent or even below one percent.

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Conclusion on Bitcoins, Blockchain & Co.

The level of awareness of Bitcoin has increased dramatically since it began in 2009. Nowadays, almost every consumer has heard of this digital currency, which is actually intended to be an alternative to the classic payment transactions of banks. In practice, however, Bitcoins and over 800 other cryptocurrencies are primarily used for speculation in order to profit from price increases. The fact that this is possible very successfully is shown, among other things, by the performance of the Bitcoin. At the beginning, this was valued at an equivalent of less than ten cents per coin. Today, however, you would have to spend over 4,000 euros to get just one Bitcoin. With the Bitcoins, a groundbreaking new technology was also created almost ten years ago, namely the blockchain. This decentralized database is not only the basis for the Bitcoin, but now for numerous other cryptocurrencies. Blockchain technology is also used outside of cryptocurrencies in various areas.

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