What is Bitcoin Mining? Complete Guide for Beginners

Bitcoin mining

Wouldn’t it be great to earn Bitcoin every day?

Right now people are rushing to get their hands on as much Bitcoin as possible and there are only a few ways you can do this:

  • Buy it from an exchange
  • Trade it for goods or services
  • Mine it

The first two options are fine, but mining is by far the most lucrative and you can start mining Bitcoin very quickly and easily.

Firstly though, do you even know what Bitcoin is? Or what it can do for you?

Here’s a short video which explains it all.

 


 

Each day there are 3,600 new Bitcoins issued to miners. You can watch this happening live on blockchain.info

At a value of just $300 each, that’s more than $1,000,000 worth of new Bitcoins issued each day. The price fluctuates up and down as Bitcoin is traded in real time across dozens of trading platforms, just the same as any other currency or commodity.

Did you even know this was happening? How cool would it be to be able to mine your own Bitcoins and secure a share of this massive daily payout?

This video explains exactly how Bitcoin mining works.

 


 

It’s no surprise that most people don’t know about this yet. The miners are keeping it quiet so they can mine all that money for themselves!

Think about it.. you plug-in a machine and starts mining. Therefore, the more machines you have the more often you unlock a new block and that means even more money earned.

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Steve

Steve

Steve has been investing ever since his first share purchase (in Dunlop) way back in the 1980s. Since then, he has built a diversified portfolio of mainly low-to-medium risk investments but bucked that trend by investing in Bitcoin during 2015 at a price of just $230. This has gone on to become Steve's best investment by far, though his main focus remains on steady compounding.

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