This article was written to help you avoid making mistakes like signing up to Bitcoin Generator Apps.
If you are looking for a bitcoin generator, let me begin by telling you that those don’t exist under such a term. There’s a set number of bitcoins that already exist, and a set amount that will exist in the future. The only way to create new bitcoins is by mining them.
By the end of this article you will have the knowledge you need to invest in bitcoins or join a bitcoin mining pool.
Related: Best Cryptocurrencies To Invest In
Bitcoin Generator Apps Are A Scam
If you are looking for an easy way to make money online, this is not one of them. There are countless ways to make money through investing in crypto, but generating fake bitcoins is not one of them. Bitcoins cannot be simply generated, and any website or app that says differently is trying to fish your information and steal from you.
Bitcoin Generator Apps Are Not A Mining Pool
If the reason you looked up this term was to find out how to start getting Bitcoins, then you were probably looking for bitcoin mining information.
The way cryptocurrencies work is that you lend them computer power in exchange for btc. The computer – or pool of computers – puts its computing strength in solving complex mathematical problems. Whenever a solution is found, a new bitcoin is generated.
This is how you can make money through Bitcoin mining. The same is true for any other alt coins.
Joining A Mining Pool
There are many mining pools you can join, but don’t expect to make a lot of money if you are only using your regular computer to mine. Nowadays there are specialized computers created for the sole purpose of mining day and night. Using a regular computer to mine for bitcoin (btc) would cost you more in electricity and computer maintenance than the amount of btc you will make from it.
Instead, I suggest you start mining for some of the alt coins. Coincap.io is a great place to see which alt coins are performing better than others. Once you choose a few coins to mine, you can either go to that specific alt coin’s subreddit, or look up on Google how to mine the coin.
Make sure to properly research how without divulging your personal information or downloading any malicious software. If you have any questions or aren’t sure about the legitimacy of a certain website, feel free to comment at the bottom of the article and I will personally check.
Other Ways to Make Money In Crypto
There are many alternative ways to make money in crypto. You just have to involve yourself with this new industry as soon as possible.
Invest: The most notable way to make money in cryptocurrencies is to invest in them. If you are interested in doing so, here is a list of the best cryptocurrencies to invest in.
Join BitNation: Bitnation allows you to become an ally, citizen, contributor, or ambassador of the world’s first decentralized global nation. It also allows you to offer your office or house as a consulate of BitNation. It’s a great way to get involved and learn about upcoming blockchain opportunities.
Write Articles: Other than investing, you can also write for Steem and make money when people upvote your content.
Use Brave Browser: As of October 2017, you will be able to make money by watching ads through the Brave Browser. Until then, you can use this browser to block all the annoying ads and pop-ups, allowing you stream more quickly.
Build An ICO: If you decide to create your own blockchain technology, you could perform an ICO (Initial Coin Offering) to raise funds for your project. This will require a team and higher-level programmers that know what they are doing.
Build a fund: New services are allowing you to build a fund and have people follow you. You will then make a percentage of any money that people make from following you. Numeraire is a great example of a technology that allows you to do this!
Keep Your Money Safe
When you invest in cryptocurrencies, you need to store your coins somewhere. With real money you would usually deposit in the bank. However because there are no banks in crypto, the best thing to do is to deposit it in your wallet. Don’t keep your wallet online, or else it may get hacked. Instead, get a usb key ledger wallet and keep your coins safe there.
Investing in cryptocurrencies can be extremely risky. I strongly recommend you only invest what you are willing to lose. The market may go up X20, or will completely lose it’s value. While a few cryptos will become the next Apple and Google, most will fall and lose 90%-99% of their value. Nevertheless, if you believe in the industry then the best thing to do is to invest and get involved while there’s still time!
Until Next Time,