Introduction: Understanding, Earning and Winning Bitcoins

Bitcoins have become a popular currency over recent years. Bitcoins were created in 2009 and have since increased in value and circulation. The person or team who invented the Bitcoin remains anonymous and goes by the alias “Satoshi Nakamoto”. Initially Bitcoins were limited to online shopping, but let’s face it, a huge chunk of retail revenue derives from e-commerce.

Bitcoins are now being accepted in a variety of physical locations as well and are expected to be accepted in many more. CoinMap.org is updated frequently with new businesses accepting bitcoins. Well known merchants like Dell, Sears, JC Penney, Dish Network and Whole Foods are among them. Which means you can purchase clothing, food, electronics, furniture and much more!

So, how can you get your hands on this cyber-cash? Just like a salary, you have to earn them. There are several ways to do just that and here are just a few:

  • Some websites offer bitcoins in exchange for your completion of tasks.
  • You may accept bitcoins as a means of payment for services rendered. The setup is similar to that of PayPal, Google Wallet and Dwolla. Payment is made to your Bitcoin wallet via your QR code and Bitcoin address. The difference is that your personal information is not linked to your account.
  • There is also a wide selection of websites where you can try your luck at the chance to win some Bitcoins. Hopefully you hit a jackpot. New bitcoin poker sites have recently been added to this growing list of gambling options as well and are getting a decent amount of attention.
  • You can “mine” them, but this rarely profitable anymore unless you have a huge chunk of money to invest in equipment first. 

With Bitcoin being the new “dollar”, it is definitely having an effect on our world economy. Some are even going as far as to say that Bitcoins may rescue the economy.and improve our quality of life. 21 million Bitcoins are predicted to be produced by 2041. Their value is significantly increasing. Just last year their value fell in the range of $12 – $15 and has increased within the range of $121 – $140.

Another perk is the freedom that comes with this currency. Nobody other than you has control over your Bitcoins and how you choose to spend them. Laws that deal with currency exchange do not currently apply to Bitcoins. As mentioned previously, your personal information does not have to be shared, Bitcoins are simply deducted from your balance. If more people begin circulating Bitcoins, the value of the dollar may actually decrease. Financial institutions will likely jump in when they realize if they can’t beat them, might as well join them though.

So go get yourself your Bitcoin wallet, earn some Bitcoins to stuff it with and have a blast spending them!

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