There are several ways to buy a BTC. However, there may be some difficulties with the process. For example, there are many fraudulent sites listing fake coins from other blockbusters (Bitcoin Cash, Bitcoin Gold, etc.). There are practically no free ways to get BTC anymore. After the rapid growth of the crypt currency rate, such services for receiving free electronic coins ceased to exist or switched to another mode. To receive cryptovalite by any method requires the cost of some or other resources.
The main ways to obtain bitcoins
- Cloud mining is the best way to get Bitcoins for 2020. It is a lease on the capacity of a cloud mining service in the form of a contract for a year. All the cryptographic power you get from it goes to your account. On average, you get 200% to 600% revenue per year, all depending on the rate and growth of network complexity. But keep in mind that in cloud mining there are a lot of sites of fraudsters or pyramids, you can only trust the old and proven services, there are not so many on the market.
- Classic Mining. Mining of coins on your own equipment. Those who are engaged in mining, as if renting the hash rate of their ASICs and video cards to obtain the cryptocurrency by using computing power. There are many BTC mass mining farms.
- Cranes. The only free way to get the bitcoins, but it takes a lot of time and gives a minuscule dividend. The user of the service only needs to click on advertising banners and videos, but the cost of transition is very small, since 2018 this method has become completely inefficient.
- Buying cryptocurrencies. You can buy e-currency for money in special exchangers, a detailed review of the most popular and reliable we have published here. Also some crypt currency exchanges support the input and output of fiat money, but not all.
Bitcoin principles and BlockChain technology
- The main creation principle was to create a database that did not have a main server (was decentralized). Encrypted copies of this database are stored by all system members. If we consider bitcoin, the database represents all operations performed with this cryptographic currency (extraction, transfer, purchase, sale). Absolutely everything is recorded in the database and available to all system members.
- Any new record in such a database is synchronized with all its copies from everyone who participates in this system. Reconciliation algorithms come into operation. If someone tries to steal something, they will have to replace the data from more than half of the participants in the system, since the network has more than a million participants, it is almost impossible.
- Each new block in the database contains information (hash) about the previous block, and so on, block by block. This information confirms that the block is complete, not changed and not fake. In order to spoof a block (payment), you will have to change the whole chain of blocks, which are stored not in one place, but on millions of computers. And to do this, you need to access each of them. It’s a pointless and very expensive exercise.
The difference between bitcoin and classic fiat money
VTS is the very first crypto currency, which appeared in 2009. For the first time, the principle of the Bitcoin peer-to-peer network, on which a certain Satoshi Nakamoto was working, was available two years before the digital currency appeared. Decentralized currency, which is not controlled by any bank or exchanger, has always been the nightmare of the global financial system. It’s scattered around the globe, it’s only online, it’s unsecured, and every user in the world can influence the exchange rate without leaving their computer.
More information on newsblockchain.io.