If you want to get into bitcoin and cryptocurrencies they are a couple of ways of getting started, I wish to show you both the free opportunity which takes time but no money, the cloud mining way to begin earning cryptocurrencies and just regular buying of cryptocurrencies.
Whatever means you want to use getting into cryptocurrencies the first step is the same you need to set up a wallet there are a couple of different wallets out there and if it’s small amount like if you’re using faucets or just buying a small portion of cryptocurrencies, I would recommend using a hot wallet simply because it’s the cheapest way. But it can be a little bit complex to choose the right wallet therefor you can click here. And it will take you to a guide in the different types of wallets I have used, and what they are capable of, it will help you find the right wallet for you so make sure you read it by clicking here. You can also read our guide on how to put your bitcoins into cold storage by clicking here
Let me be entirely clear there is no such thing as free money, but there are specific ways to achieve the feeling of free money if you invest your time. This way is by faucets some can be claimed once every hour and some every 5 minutes. So if you are entirely new to cryptocurrencies it’s a great way to learn about them without spending any money, I usually have one or two facets I claim once every hour. When I’m working at my computer with it open in the browser, and I will claim it once they are ready, I have compiled a simple that little list of the ones I use, all of them are compatible with the any wallet
Free Bitcoin is a site which is not commercially driven it gives you the possibility of claiming once every hour and have the option to gamble with your earnings I cannot recommend you do that, they have lottery of which I have won some bitcoins in and within the last year I have won the lottery 2 times First time was a 6th place with a value of almost half a Bitcoin and the second time I won the lottery where the 8th place With a value of 0.02 bitcoin and this is why I recommended this fauucet so you also will have the possibility of winning the lottery and the more times you claim the faucet, the bigger your chance of winning the lottery´is, so if you’re looking for free bitcoins sign up for free bitcoin at
Moon Bitcoin is there a faucet I also use This one is commercially driven and therefore has a lot of Commercials on it it can be quiet and annoying sometimes But it is the way they gain funds to pay you if you go and maximum of 24 hours between each claim. You will get up 1% bonus which compiles up to a 100 days where you hit 100%, the way I use it is I claim once I when I start my work day and once before I go home. And this will keep me at 100% on the days I don’t work I usually claim it earlier in the morning and once before I go to bed. So it is still an excellent way to get started in learning about cryptocurrencies, They run more faucets which is listed below with other currencies than just Bitcoin.
These faucets are all great faucets for getting started in cryptocurrencies if you are insecure about investing or just don’t have the money to invest. If you like to invest in something a little more long-term, I would recommend mining which will be moving on to.
You can I some mind at home with your own computer, This world put a significant demand on your computer and therefore there are specialised hardware which we will be covering in another article in this article we will be focusing on cat minding where you do not need to have a significant knowledge about hardware setup, mining setup and programming setup, when using cloud mining you just need to make sure you get erect correctly before I start investing so you can know what you are investing in and I will be focusing on two of the major players with Cloud mining two companies I have been Satisfied with using if you read probably what you’re getting into do not get disappointed unless it’s a scam and I know what I got into when I invested into this mining companies, and they have four filled it.
Firstly are Genesis mining a company that is based in Iceland , And therefore can’t deliver cheap contracts due to the cheap energy price on Iceland thanks to geothermal energy, before investing you should know that some contracts have an upkeep which is drawn directly from the mined amount, As I write this they only have the ethereum contracts available These are without maintenance fees and have a two year running time, With the price of 3.599 US dollar per 100 MH/s. And as I write this the calculation for profitability will look like
(Expected mining return x Years) – Price for contract = Expected profit
(4146,67 x 2) – 3599 = 8293,34 – 3599 = 4694,36
In profit, If the market price doesn’t change and difficulty don’t increase. This is calculated on coinwarz So feel free to double check and remember this return is changed if prices go up down difficult to go up or down, So two minutes after I have written this it might have changed slightly two years after it might look completely different, and as it goes for Genesis mining it is a company which I have used for a long while and I have never had any complaints with them they might be a little slow responding to support a request, but that’s just because they get so many requests and many of them as I understand it it’s people not knowing what to expect so remember to read up on what the contract offer before requesting support.
The second company I use is hashflare. It is a company that has seen som hard times recently, this is because they change the Bitcoin mining contract from lifetime to 1 year, calculating on them you can still make a profit, but for comparison reasons, I will be calculated on the etherium contracts. So you have something to compare, and I recommend that you always before investing in any opportunity get to know what it is that you are in getting into therefore we will just go over some of the basics when you sign on with hashflare, first of all, all their contracts are for one year, on all of them you need to request a payout which is done directly from the dashboard. And if you invest in Bitcoin or litecoin, you have the opportunity of setting it to automatically reinvest and thereby achieving a higher hashing power something I cannot use since I do not mine bitcoin or litecoin. Let’s look at the ethereum contract Which is at 2.200 US dollar per 100 MH/s This will give you a higher return on year one but no return on year 2, Since it’s the same earning chart as Genesis mining. But the calculation for this will look like 4146,67 – 2200 = 1946,67 in profit If the market doesn’t change. Even though the gain is a little less, it is my recommendation that you use both sides if you want to make significant investments merely to spread out the risk.
There are several places to buy Bitcoin, but it is easy to get cheated out there by someone just taking your money and walking away with them without giving you any bitcoins in return. Therefore, I have a couple of recommendations on where to buy bitcoins these are recognised legit exchange. I have used all of them without any problems there are not much to say about buying bitcoins it is like buying any other product online each site will guide you through the procurement process. What you need to be aware of is the price at which you buy Bitcoin, therefore, keep an eye on the price, so you’re by as low as possible.
The most straightforward site I have used is coinbase you get your currencies just as soon as your credit card or wire transfer clears and it supports more than just Bitcoin which actually means you can buy and sell Bitcoin cash, litecoin, and ethereum without having to buy into bitcoin first and then buy/sell the other coins. It has the added benefit of being a wallet at the same time I do not recommend storing coins on there, For the same reason, I never recommend storing currency in any form of exchange. and you can sign up right here, no purchases required
Then there are local Bitcoin where you actually trade locally, either with cash payment or by bank transfer, They have also included the possibility of paying with PayPal, so you can search and your way of payment the big difference between local bitcoin and other exchanges is that localbitcoins are people trading with people and therefore it is decentralised in the way that you trade directly with the seller through local Bitcoin, I am a firm supporter of local bitcoin due to the fact that they make it possible for me to stay global and local at the same time.
I hope this gave you an insight into starting your involvement in cryptocurrencies and feel free to leave a comment below we aim to answer all questions that the might arise, Sometimes we will even take questions and make them into articles for a good answer not everything can be answered in two or three sentences sometimes we just need more room for the answer and that will turn into an article.