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I respect it as a primary step to find familiar with Bitcoin in general. Also, it's interesting to see what kind of services are enabled through frictionless money transfers.
Lend directly to someone you know. This Permits You to assess personally, whether you regard the borrower as
Only need to agree on the conditions such as duration and interest rate and away you go. The drawback is, however, you probably will not have too many acquaintances who
Peer to peer reviewed Bitcoin lending sites with listings from several borrowers are another option. Bitbond
And you can contribute to their loan. You can fund small portions of many loans and thereby increase default risk.
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Bitcoin loans generally work exactly the identical way as fiat currency loans. The debtor receives a certain amount of money within a specified time
and repays the money with interest. There are just two things that you need to be aware of when you lend Bitcoins. The site needs to be reliable and
The borrower needs to be trustworthy. When the site assesses the creditworthiness of their applicants
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A Bitcoin banking like model. Here you place your Bitcoins as a deposit using a website that pays you a fixed interest rate on those deposits. As everything
This approach has advantages and disadvantages. The fantastic thing is, that you don't need to diversify your Bitcoins over many borrowers. You simply place your Bitcoins together with your
Bitcoin bank and that's it. You earn Bitcoins as a continuous flow of interest income. However, be very careful. In the previous case of peer to peer lending that you diversify your
You trust one single borrower that's the bank. If they don't do a good job in managing your Bitcoins, everything
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Can be lost at once. That is because the bank takes you deposits and invests them in assets, the most important assets usually being loans. If they do a good job You're fine
You hope. Such sites will comply with the typical requirements that you expect from non-Bitcoin related sites too. That means they have
Appropriate terms and conditions in place, they disclose their status of incorporation and contact details. Some sites in the
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When you perfom mining, your own computer adds new Bitcoin transactions to the block chain (a public ledger where all
Bitcoin transactions are stored) and searches for new blocks. A block is a file that has the most recent Bitcoin transactions
Recorded in it. When your computer discovers a new block, you receive a certain number of Bitcoins. Currently a block contains BTC 25. This number changes
Since bitcoin mining has become a hardware intense and therefore expensive procedure, many individual miners join a so called mining pool.
By providing computing power to their pool you can earn Bitcoins from mining without the need to build your own huge mining plantation. There are entire communities around
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Bitcoin mining and besides the fact that you earn Bitcoins it More about the author is also fun. You meet new people online and have in-depth knowledge about Bitcoin as a protocol and technology.
If you want to earn Bitcoins through mining, bear in mind it is a costly and time consuming procedure. Read the respective introductions and
When you earn Bitcoins through tips, it is much like accepting Bitcoin as a means of payment. You need a wallet, a QR-code with your Bitcoin address on it and the people
Who can potentially give you a tip need to be aware of it. There are various places where you can get Bitcoin tips.
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Again, your shop is the first thing to begin with in case you have one. It is just a bit easier because since tips are voluntary you don't
Really need to check the incoming payment and the specific amount. Simply display the QR-code and assess each day what came in.
With tips, the nice thing is you don't necessarily need to have a shop. A blog for instance or any other website is sufficient.
You can display the QR-code or just your Bitcoin address at the bottom of your webpage or wherever it seems convenient and let people decide how much
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they want to tip you. You can also see how this looks like in the footer of this German blog bitcoins21.
Another really cool way to get tipped online is Bitfortip that was already mentioned above. This service allows one