Is it possible to earn on Bitcoins?

The whole system of cryptography is created in such a way that new Bitcoins are created at a fixed speed. This allows miners to create a very competitive business, because the greater the number of accomplishers joining the market, the more difficult it will be to profit. Therefore, players must look for new options to reduce operating costs. And since the whole system is decentralized, none of the users can control or manipulate the system to increase its revenue. Thus, the participants have a chance to earn money on cryptography, but rely on it as a single source of income is not worth it.

You can earn on Bitcoins in several ways: with the help of landing, speculation (operations with exchanges and Bitcoin sales) or launching your business project. These methods can be cost-effective and competitive, but they do not provide a guarantee of stable earnings. Profit requires a strategy and sovereign risk assessment.

The total number of possible Bitcoins is known beforehand. They can be strictly no more than 21 million, three quarters of which have already been mined, and the remaining will be extracted for the next 150 years. This means that, let's say, if you have 1000 BTC, then this is one twenty thousandth share of all Bitcoins, including those that will be extracted in the foreseeable future. With normal currencies, this does not work: let's say if someone has a billion dollars, then this does not mean anything, because FED can print a few more green papers.

What is the cost of Bitcoins determined?As in any market, Bitcoin's value is determined by demand and supply. The more people enter the game, the more valuable the currency becomes. Since the number of Bitcoins is limited, sooner or later demand will follow the level of inflation to maintain its value. Nevertheless, the Bitcoin market is still relatively small, so this creep currency is characterized by high volatility. Now more and more participants are appearing in the system, which ensure Bitcoin's high price on the market. At the moment 1 Bitcoin = 13,000 USD.

How Bitcoins Are Legal?The legal status of Bitcoin varies according to different territories. In most countries, the law does not prohibit transactions with cryptic currencies. For example, in countries such as the USA and Germany Bitcoins fall under the jurisdiction and have their own taxation. In other countries, there are restrictions on operations with foreign currencies, so officially crypto foreign currency is considered outside the legal field (Russia, Thailand). In our country, this issue is also unclear. Despite the fact that the Bitcoin law is not prohibited in Belarus, there is no legal field for using this currency. This means that any calculations by the Bitcoins on the territory of Belarus for individuals and legal entities carry risks, therefore, all responsible.

Is it possible to hack Bitcoin?

Bitcoin technology is one of the world's largest distribution computing projects. It includes protocols and cryptography with a high level of security. However, users are one of the most vulnerable. Fraudsters can take advantage of the inattention of the participants, for example, by copying the recipient's address by modifying only a few points. In this way, the money will be transferred to another address or, for example, when the user himself loses the key from his Bitcoin wallet. In this case, it will be impossible to return or restore this key somehow.

Still, it's worth noting that it's impossible to crack the Bitcoin code itself, because it's impossible to change the bitcoin protocol. Any program that does not comply with generally accepted rules will not be able to impose its rules on other users. Thanks to this code, some double expenses in the same chain of blocks are impossible, as well as a waste without proper signature. That is why it is impossible to create an inadequate number of Bitcoins from the air, damage the network or spend someone else's money.

Investing in Bitcoins
Today, Bitcoin is the world's largest cryptographic company, attracting the attention of businessmen and business people. Investors who have invested in digital currency in time are already getting good dividends in comparison with investments in traditional currencies. And since we already know that the total number of Bitcoins is limited, the demand and price for one copy only grows.

There are two ways to develop investments in Bitcoin:Buying a certain number of Bitcoins for real money and expectations of raising the rate;Trading on the stock exchange. Here it is similar to the principles of currency trading on the Forex exchange.The main risks of investments in Bitcoins are connected with the system of work of the cryptovolume. By studying the course schedule, you can trace some trends. For example, the first sharp increase in the rate occurred in 2013, which prompted users to buy Bitcoins. Since the price itself is formed by demand for goods, the reason for the price changes is the participants themselves. For example, users may lose confidence in Bitcoin, and its price will fall. Therefore, all investments in crypto-currency should be considered in the long run.