How to successfully invest in Bitcoin

     Bitcoin is a cryptocurrency developed by unknown programmer or programmers under the name of Satoshi Nakamoto came into existence on October 31, 2008 in a research paper called "Bitcoin: A Peer-to-Peer Electronic Cash System". On the same day, It was released as open-source software. As this system is peer-to-peer, transactions take place between users directly without any inter mediator. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Bitcoins are created as a reward in a competition in which users offer their computing power of their system(CPU or GPU power to calculate or perform hashes) to verify and record bitcoin transactions into the blockchain. This activity is known as mining and successful miners are rewarded with transactions fees and newly created bitcoin.

     This is a cryptocurrency hence it requires special wallets in order to store bitcoins. There are many wallets available now a days over internet but I recommend you to verify the genuineness of  your wallet because there are legit as well as scams sites both actively present on internet. You should use wallet like Blockchain or Coinbase(In India, Zebpay is one of the best Bitcoin exchange).

     Bitcoin is a worldwide cryptocurrency and whether it is legal or illegal depends on your country's rules and regulations. It's value totally depends upon the complex mathematical calculations. Explaining the whole working structure of Bitcoin mining is out of the scope. If you're keenly interested, you can explore this world by yourself. In a nutshell, the central idea of Bitcoin mining is lies around your system's processing power to perform hashes and complex mathematical problems. There are many softwares present in the market (either paid or free) which may provides a GUI version to make whole process intractable.

     Bitcoin's value is itself quite big enough, so for making our life a bit easier,  a bitcoin is divided into several currencies out of which smallest unit registered on blockchain called "Satoshi" named in collective homage to the original creator of the Bitcoin, Satoshi Nakamoto. It is a one hundred millionth of a single bitcoin(0.00000001 BTC).

     There are many ways to invest and earn bitcoins. There are many websites out there which pays you in bitcoin for visiting their websites, performing specific tasks and many other. Some of them  are genuine websites which actually allows you to make good sum of money in exchange of performing some task and visit their site. Above method is quite a time taking without any initial investment.

     Another way to mine bitcoin is using miner. Mining is an activity just like miners mines gold mines for cash, here instead of mining gold, the miners mine bitcoins. Mining can be done online as well as offline or whether in group or solely. This mining stuff requires some specific hardwares and powerful configurations in order to make good amount of Bitcoins. When Bitcoin was introduced, it was designed in such a way that one can easily make Bitcoins simply by computer without any additional hardware or devices required, but advancement in technology takes this to an extreme level. In present scenario, you need a very specific hardware(Bitcoin miners) particularly designed to perform calculations at high speed. This high speed is beyond your imagination and I mean it, Some hardwares like Antminer S9 can perform upto  14TH hashes in one second. You can roughly estimate it's power with your CPU which performs hardly 4-5 GH hashes per second. This is 1000+ times faster than your CPU so as it's power consumption and it's cost. Alternatively, you can use online mining platforms. These platforms have their own miners which is available for rent for the users.The amount and rate of mining is totally depends on how much purchase hash power

     The simplest and riskiest one is totally depends upon your luck or some type of your supernatural prediction power or instincts. The rate of Bitcoin is so fluctuating based upon the current statistics of mining. You can take stock market as reference in which a company's shares prices continuously changes with respect to market. Here you can invest bitcoins and easily make a good amount of profit. If you're lucky enough you can easily double your investment within a month.

Happy Earnings