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I respect it as a first step to get knowledgeable about Bitcoin in general. Also, it is interesting to see what kind of services are enabled through frictionless money transfers.
Lend directly to someone you know. This allows you to assess personally, whether you respect the debtor as
Only need to agree on the conditions like duration and interest rate and away you go. The downside is, however, that you probably will not have too many acquaintances that
Peer to peer reviewed Bitcoin lending websites with listings from several borrowers are another option. Bitbond
And also you can contribute to your own loan. You can fund modest portions of many loans and thus diversify default risk.
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Bitcoin loans generally work the identical way as fiat currency loans. The debtor receives a certain amount of money over a specified time
and repays the money with interest. There are two things you need to be aware of when you lend Bitcoins. The Website needs to be trustworthy and
The borrower needs to be trustworthy. When the Website assesses the creditworthiness of their applicants
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A Bitcoin banking such as version. Here you put your Bitcoins as a deposit with a website that pays you a fixed interest rate on these 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 just place your Bitcoins together with your
Bitcoin bank and that is it. You earn Bitcoins as a continuous stream of interest income. However, be very careful. In the previous case of peer to peer lending that you diversify your
You trust one single debtor which is 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
Because you simply collect the interest payment. When they don't do a fantastic job you simply take the strike. An there is no deposit insurance in the Bitcoin world, too.
You trust. Such sites will comply with the usual requirements that you expect from non-Bitcoin associated websites too. That means they have
Proper terms and conditions in place, they disclose their status of incorporation and contact particulars. Some websites in the
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When you perfom mining, your computer adds new Bitcoin transactions to the block chain (a people ledger where all
Bitcoin transactions are stored) and hunts for new blocks. A block is a file which has the most recent Bitcoin transactions
Listed in it. When your computer discovers a new block, then you get a certain number of Bitcoins. Currently a block contains BTC 25. This number changes
Since bitcoin mining has become a hardware intense and so expensive procedure, most individual miners join a so known mining pool.
By providing computing power to their pool you can earn Bitcoins from mining with no need to construct your own huge mining farm. There are entire communities around
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Bitcoin mining and moreover the fact that you earn Bitcoins it's also fun. You meet new people online and get 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's much like accepting Bitcoin as a means of payment. You need a wallet, a QR-code with your Bitcoin address on it and the folks
Who can potentially give you a tip need to be aware of it. There are a variety of places where you can get Bitcoin tips.
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Again, your shop is the first thing to start with in case you have one. It is Only a bit easier because since hints are voluntary you don't
Really need to check the incoming payment and the exact amount. Simply display the QR-code other and check each day exactly what came in.
With hints, 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 page 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 the German blog bitcoins21.
Another very cool way to get tipped online is Bitfortip that was already mentioned previously. This service allows you