Can Bitcoin make you Rich?

Question

It is usually seen that many investors have gained a lot of profits after investing on bitcoins (cryptocurrencies) and some have even been burdened with huge losses. Can bitcoins really make you Rich?

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cryptic 3 months 1 Answer 75 views 0

Answer ( 1 )

  1. Investing in bitcoin does make you rich because they are various ways in which an individual can receive great and consistent income from bitcoin. Unfortunately, Just as in real life, there is no such thing as free lunch. Any way of earning money through bitcoin will require something in exchange, whether it’s your time, effort, money or your knowledge.

    One option that can affect your financial status positively in a little period of time with at least little effort, time and money is by doing Bitcoin Mining.

    As many of us May know, bitcoin mining is carried out using certain computer programmes that utilises the processing power of the miner’s computer. That sounds easy, but only for early miners who were able to mine with limited expenditure. Nowadays, bitcoin mining is much harder because each bitcoin that is mined requires more processing power which makes mining bitcoin now involves significant processing power and specialised equipment. In addition, the costs in getting this equipment is phenomenal, but that shouldn’t discourage you because most bitcoin mining has been taking over by companies with large amount of processing hardware and well trained professional miners.

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