Bitcoin For Profit PLR Ebook

Table of Contents

Chapter 1: Bitcoin and Cryptocurrency – An Overview
A Look At Cryptocurrency and Bitcoin’s Colorful Past
Why Do Cryptocurrencies Exist?
How Bitcoin Works
The Technology Behind Bitcoin
Chapter 2: Bitcoin Value – Determine the Value of Bitcoin
Bitcoin’s Value Lies In Its Utility
Bitcoins Are Incredibly Scarce
Supply And Demand Affects Bitcoin Value Directly
Chapter 3: Different Techniques To Acquire Bitcoin
Buy Some Bitcoins
Trade Your Other Cryptocurrencies For Bitcoin
Get Paid With Bitcoins
Complete Small Tasks On Websites
Join Bitcoin Faucets
Mine Your Own Bitcoin
Chapter 4: Bitcoin Mining – All About Bitcoin Mining
Bitcoin Mining Terms You Should Get To Know
Bitcoin Mining Hardware Commonly Used By Miners
The Role Of Mining In The Creation Of New Bitcoins
What Is The Blockchain?
What Exactly Is Bitcoin Mining?
Bitcoin Mining And Mining Difficulty
Bitcoin Cloud Mining – An Alternative To Joining Mining Pools?
Is Bitcoin Mining Profitable?
Chapter 5: Bitcoin Storing – Store Safely Your Bitcoin and Other Cryptocurrency
Online Wallets
Mobile Wallets
Desktop Wallet
Paper Wallet
Hardware Wallet
Chapter 6: Trading And Selling Your Bitcoin For Profit
Bitcoin Trading Strategies
Popular Bitcoin Trading Platforms
Are You Ready To Start Trading Bitcoins?
Chapter 7: Using Bitcoin As An Investment Strategy
Bitcoin Investment Methods
Strategies To Succeed In Bitcoin Investing
Chapter 8: How to Accept and Use Bitcoin for Your Business?
Online And Offline Businesses Can Accept Bitcoin Payments
How To Handle The Volatility Of Bitcoin
Why Your Business Should Start Accepting Bitcoin Payments
The Benefits Of Bitcoin Payments For Your Business
Chapter 9: Protect Yourself Against Fraud And Theft on Bitcoin
Bitcoin And Cryptocurrencies Are Not Scams
Scam #1 – Fake Bitcoin Exchanges
Scam #2 – Phishing Scams
Scam #3 – Cloud Mining Scams
Scam #4 – Ponzi Scams
Chapter 10: The Future Of Cryptocurrency
Massive Support From The Masses
Bitcoin In Developing Economies
Fast And Cheap International Payments
Combat Crime and Corruption
Blockchain Technology Will Become Mainstream

Sample Content Preview

Many have speculated that he is not just one person but rather a collective pseudonym for a group of cryptographic developers. Some have come forward claiming to be Satoshi, but to date, his real identity remains a secret.

Why Do Cryptocurrencies Exist?

Many people have started thinking that cryptocurrencies, Bitcoin in particular, are on the brink of replacing our national currencies such as the US Dollar, British Pound Sterling, Euro, Canadian Dollars, and more. This is because cryptocurrencies have started to become very viable alternatives to traditional currency.

Cryptocurrencies exist to address weaknesses in traditional currencies which are, of course, backed by central banks and governments. This makes traditional currencies prone to corruption and manipulation, among a host of other issues.

Unlike traditional currencies, there is no governing body that backs

Bitcoin and other cryptocurrencies which means they aren’t subjected to anybody’s whims.

Bitcoin is completely decentralized, open source and transparent. This means that you can see all the transactions that have ever been done on the network and you can check and review the blockchain data yourself to verify the authenticity of each transaction.

Bitcoin runs on highly complex mathematical algorithms to regulate the creation of new bitcoins and to make sure no double spending ever occurs on the network (remember, this is the Achilles’ heel of failed virtual currencies before Bitcoin).

The Bitcoin code is so secure and advanced that it’s virtually impossible to cheat the system so if you’re thinking you can create an unlimited number of bitcoins, you’re greatly mistaken.

One of the main problems of traditional currency is that these aren’t limited in number. This means that governments and central banks can print more money when they see fit.

When more money is printed and enters the economy, this reduces the purchasing power of our paper money which means we need to spend more for an item we’ve only spent a few dollars on before; this is called inflation.

Bitcoin, on the other hand, is a different story. The Bitcoin Protocol states that only 21,000,000 bitcoins can ever be mined and created which means that bitcoin is, in fact, a scarce resource.

Also, like national currencies, bitcoins are divisible, much like cents to a dollar. The smallest bitcoin unit is called a Satoshi, and it is 1/100,000,000 of a bitcoin. This means you can invest a few thousand Satoshis at a time until you finally get a whole bitcoin.

Of course, if you go this route, it may take you some time to get to 1 BTC but if the price continues to skyrocket, then buying a few Satoshis regularly may pay off in the long term.

Another reason why cryptocurrencies are gaining in popularity is that it is highly portable which means you can bring it with you anywhere you go. You can do the same with physical money and gold. However, a large amount will lead to a heavy load on your wallet or bag.

Try putting a million dollars in a briefcase or carrying a bag of gold! It’s certainly not as light as it looks in movies.

With cryptocurrency, you have different wallet choices, all of which are highly portable, so you can easily make payments whenever and wherever you want.

Bitcoins are not subject to bank and government regulations. This means you don’t need to pay those hefty bank fees which you incur whenever you send payments to other people.

You also don’t need to wait several hours or maybe even a few days for your payments to clear or post as bitcoin payments are made almost instantly (usually in 10-45 minutes).

How Bitcoin Works

In this section, we will do our best to explain the Bitcoin process as simply as possible without going into too much technical jargon.

The first thing you need to do is get yourself some bitcoins. You can either mine this yourself, receive some as payment for goods or services, or buy at a Bitcoin exchange like Coinbase or Kraken. There are different wallets for you to store your new bitcoins in.

You can use a desktop wallet, mobile app wallet, paper wallet, hardware wallet or an online wallet. There are pros and cons to each type of wallet.

However, most experts agree that online wallets, specifically those on exchange sites, are not so secure because both your private and public keys are saved online. This makes your wallet highly vulnerable to hackers.

When you’ve selected the most suitable wallet for your needs, you can then start making bitcoin transactions. To send bitcoin to another user, all you have to do is just get their email or bitcoin address, enter the amount you wish to send, write a quick note to tell them what the payment is for (this is optional), and hit the Send button!

Alternatively, if you’ve got the QR code to their bitcoin wallet, you can simply scan it and hit Send. The transaction will appear in the other person’s account in a short period of time, usually between 10-45 minutes. The reason for this ‘wait’ is explained more fully in the next section.

And that’s it! Bitcoin transactions are quick, safe, cheap and the perfect alternative to paying with bank-issued credit and debit cards, and even paying in cash.

The Technology Behind Bitcoin

On the surface, Bitcoin transactions appear to be fast and easy – and they truly are. However, behind the scenes, the technology that makes the Bitcoin network run seamlessly is a massive ledger known as the blockchain.

It’s massive because it contains a record of all bitcoin transactions that have ever taken place since Bitcoin was first released in 2009.

Other Details

- 1 Ebook (PDF, DOC), 98 Pages
- 4 Ecovers (PSD, JPG, PNG)
- Year Released/Circulated: 2021
- File Size: 20,272 KB

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