STEP BY STEP: HOW TO CREATE YOUR OWN BUSINESS BASED ON BITCOIN AND CRYPTOCURRENCY
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It is not considered news that the bitcoin has high profits and as soon as a business decides to invest in it, the rates are very high, however the price varies. Many traders and brokers are entering the Bitcoin business because it is becoming increasingly popular - and legal
What is needed to start?
As any company requires a capital, in addition to a basic knowledge of what is this world, for example here we have The main components of an exchange of cryptocurrencies
Bitcoins are those rewards that users can receive that use different devices to validate many transactions through the technology that creates the blockchain. This reward in the form of a cryptocurrency is an incentive that the miners receive for being part of the bitcoin community, giving their contribution of calculation power, often resulting in cryptographic problems that contribute security and decentralization to the system. In addition, the miners earn bitcoins in the form of fees for each transaction. Another business around cryptocurrencies is to become a miner.
How to know if it is business?
To calculate the costs that can generate in addition to the profitability of mining, it is necessary to take into account several aspects:
Price of electricity.
Price of the components that we buy for it.
Duration of those components before they become obsolete.
Amount to which we can sell them once they become obsolete.
Hash rate that we can get with those components. That is, the power necessary for mining.
And of course, monetary value of the cryptocurrency in question
To start mining we have these platforms that are some of the most complete
WhatToMine is the most complete.
CoinWarz
CryptoCompare yes