How do you get bitcoin?
To be honest, I’ve never really understood bitcoin. It’s a computer-based cryptocurrency that has a value based on the quantity of coins it holds and the number of transactions it can process. In this article, I’ll explain how to buy bitcoin, how the price of bitcoin works today, and how it’s affected by the economy. Some people also run businesses on bitcoin.
Others have already tried putting up altcoins and some of them are even crypto scams such as XUM crypto in the Philippines. Some prefer them over work from home jobs too.
Before I get into the details, I need to explain a little bit about bitcoin.
Bitcoin is a cryptocurrency that is used to transfer value between people. To use it, you need to purchase it. This is the most basic use of bitcoin. You buy bitcoin, and you hold it for a certain amount of time. The price of bitcoin at any given time is determined by the number of coins that you own and the number of transactions that you process. Besides Bitcoin, others are earning SLP which translates to money by playing Axie Infinity in the Philippines.
So let’s start with the basics. How much money do I need to buy bitcoin with? Because I’ll be buying $1000 worth of bitcoin, I need to purchase something worth 50,000 pesos. In other words, I need 50,000 pesos worth of bitcoin to buy $1,000 worth of bitcoin. This is the basic buying process of bitcoin.
How do I acquire bitcoin in the Philippines?
One way to acquire bitcoin is to buy it, so the first thing I need to do is purchase it:
Get a bitcoin wallet in the Philippines
The first step of owning bitcoin is to set up a bitcoin wallet. This is the most important step because without a bitcoin wallet, you can’t buy bitcoin. There are some bitcoin wallets that are free, some that are free for a limited time, and some that cost money.
All wallets are different, but the most widely used one in the Philippines is Binance. Binance is an online bitcoin wallet which also has a service that allows you to buy, sell, and store bitcoin. Binance is one of the most used, and trusted, bitcoin wallets on the Internet. You can sign up for an account on Binance today for free.
After creating a wallet, you can now start buying different cryptocurrency. The general tip in trading is to buy low and sell high. Learn to watch charts and try to predict or determine whether the direction would be to the moon or to the ground. There are some coins that require special wallets. The Pi Network coin and the Xian Gaza Coin both require different wallets. Both are considerably sketchy.
How do you mine Bitcoin in the Philippines?
A number of ways have been suggested to mine bitcoin, including investing in mining hardware or software, finding a pool or mining software, or using one of the many ASIC-powered mining rigs.
There are different types of mining, such as CPU mining (the process of building a computer that is able to solve complex mathematical problems), GPU mining (the process of building a computer capable of processing graphics), and ASIC-based mining (the process of building a computer which uses special hardware to solve mathematical problems).
The process of mining is often referred to as “proof of work” or “mining forcoins.” Proof of work is the process of finding a mathematical equation which can be solved by a computer.
If you don’t want to go through all the trouble of learning all the technical stuff but you are confident that you have a powerful rig, you can use Nicehash. Nicehash is a secure desktop program that has all the mining algorithms and will find the best one suited for your video card or rig. After mining, you will be paid in BTC depending on how much hashrate you were able to provide.
Download Nicehash here today for free and start earning bitcoins. You can also buy BTC here and a slew of other altcoins. Trade and grow your money. Be careful and only invest what you can lose. Bitcoin trading is not an instant money maker.
After mining, you can transfer all of the BTC you have in your Nicehash wallet to your Binance wallet. From Binance you can then cash out or trade even more.