How To Make A Million With Bitcoins

in bitcoin •  7 years ago 

You have two options: mine or trade. By mining for Bitcoins, as long as the markets remain active you can basically make money for nothing. But the problem is, mining is such a tough gig now that it is hardly worth it. Turning your computer into a miner will likely make it noisy and heat up. It would likely take you a long time to even mine a single Bitcoin, by which time you probably would have spent more on electricity. However, if you have access to some serious computing power and you don't have to pay the bills, you could make some easy money here.

The more realistic way of making a million with Bitcoins is going to be trading them through the most prominent exchanges, such as Coinbase. Back in 2011, you could have bought Bitcoins for $10. Selling them at $1,000 today would have delivered a profit of $990 per Bitcoin. Basically you should have bought about 1,000 Bitcoins back when they were cheap. This would have cost you around $10,000 in 2011, making you a millionaire today.

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as for mining: you can mine other coins like ether or monero. And do not forget cloud mining (e.g. genesis mining, hash flare). What I missed in your post: How will you make a million? By trading? Then you have to be very lucky and you have to have a huge amount of cash for your disposal...

But there is anew crypto that you can invest too

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