In my curiosity, I wanted to learn about all the hype about BitCoin and other cryptocurrencies and how many people are getting rich off of it. Well, as I got more and more into it, I realized I didn’t want to risk any of my money, so I followed a link and found out there are many ways to get many of the various “coins” out there and there are even ways you can grow quite the portfolio with ZERO money out of your pocket. After doing these, if you want to add money from your pocket, the building of “wealth” just comes a little faster.
First, some terms and understanding of what everybody is talking about. What is BitCoin and what are cryptocurrencies? Instead of boring you top tears, I’ll just give you a link What is BitCoin? to find out more about the topic.
For the purposes of my page here, I like to talk about it as a stock for a company. But this stock can literally be divided into smaller portions. For example, a BitCoin can be divided into 100 million units called Shitoshi(s). This is named after the mysterious person who invented. As of the writing of this article, a bitcoin is worth about $11,000. 2,000 Shitoshis are worth about $0.22.
The sites I found are ones that “mine” these currencies. This is how the currency is created. The creators developed a way of expanding the number of units in the system so that the number grows just as any normal currency would in the global economy. As demand increases, the volume of the currency must also increase. So, I found a number of sites that generate money by either doing the mining, sell you access to the mining, or have you use your computer processing power to mine these currencies.
In this first section, will focus on the second one. When these sites mine the currencies, they are doing so in large numbers. As a way of selling ad space or clicks, they give away portions of their mining. These sites are here:
These sites will allow you to build a small, but growing portfolio of BitCoin and an alternative called LiteCoin. Once these accounts grow to a certain level, you can withdraw the amount and put it in a “Wallet”. This is required to own cryptocurrencies. There are many types of wallets out there. I just happen to use BlockChain.
In my next blog, I will go through the steps of how I started at making $23 worth of BitCoin (and others), to a week later, I making $70 per day. As I grow the vale of my portfolio, I will then explain how to invest this free money into making the value grow at much higher than that. If you want to start looking those sites over and getting signed up, by all means do so. If you have any questions, I will answer them either publicly or privately if you tell me one way or the other.