Before investing or mining crypto like Bitcoin, known first the future of Crypto Currency?

Nowadays everyone wants to invest in crypto currency. Even you have already invest on it, if not, definitely you will do, because everyone invests in it & earn money. A lot of video in youtube channel & social media have come into the  promotion related to Bitcoin or many other crypto currency. But the general public has heard all the names of crypto, but it is not really about what it is.

So, before investing in all types of crypto like Bitcoin, Bitcoin cash, Litecoin, Ripple, Ether, VeChain, Tron, EOS, Augur, Kyber, OMG, BAT, Monero, Dashcoin, Bytecoin, DigitalNote, QuazarCoin, think 10 times before invest on it.

Now i will not tell you all about its history. I’ll give you some basic information about it, so that you can easily understand what is it & how it affects the impact in the market?

All crypto currency is a virtual currency. It has no physical shape. Nor is there anybody’s control over it. Even the government does not have control over it. No one has tracking control over where this currency came from & where it will go. The government of every country will try to gets control over it. In some country, the crypto currency band has been declared. And the govt. of some country is doing research on it as well as trying to know this correctly.

 

 

 

 

 

Every country has some agency through which you can buy all these coins. This spreads effect on the actual currency of every single country. And in the same way, this currency has the effect of action on every single countries activity. So, all this currency’s rate will be increase or decrease that’s dependent on the activities of all country globally.

Whenever there is a negative issue happens about it in the market, its rate falls down. Because at that time all the investor afraid on those present situation of market & sell their stock of crypto. Any influential person from any country if saying any negative issue or any country want to step on it, then its rate decreased within a second. Even positive issue or activities taken by the govt. about it, will be increased it’s value within few moments. So if you look at it, then there is no control by anyone. If you make any investment in the bank then it has a fix interest & trust as well as a correct calculation happens but on crypto, no prediction is applied about it.

Bitcoin is the top of the crypto currency. And inside crypto, it is the most expensive currency. Actually all of these coins have no  value in real. We made it valuable. Actually you can buy bitcoin or you made it through hardware wallet or on virtual wallet through block chain pole. You will get many of online virtual wallet website or application provider that you can mine bitcoin or any of digital currency through it. In all the country, have some foreign currency exchange company that provide crypto transaction. Means suppose you want to encashed some bitcoin or any crypto currency into the same value of actual currency of your country. Ever you can exchange your country’s currency by buying, selling or transferring bitcoins or any crypto through all these companies as follows;

Zebpay Bitcoin and Cryptocurrency Exchange- (for india) – mobile app

MinerGate Mobile Miner

EOBOT – FOR CLOUD MINING

MINERGATE – Cryptocurrency GUI miner & Mining Pool

BITTREX

Every type of crypto has a separate different kind of alphanumeric wallet address code, either you have sending crypto from your address to other or you have received in your wallet address from other wallet. There is some vendors in every country that accepts the transaction of crypto currency when you are buying some product or goods from them. During this, if there is some disturbance in the transaction then its control will not be in someone’s hands. In this case, nor can the government of any country help you.  That’s why those do illegal activities, mostly use it all for transaction or exchange this currency.

Bitcoin rate was 1 BTC = Rs. 70000/- (INR) / 1400 USD, 8 years ago, in the year 2016-2017, the rate of bitcoin increased to the top & achieved the all time record of Rs. 1400000/- (24000 USD) = 01 BTC. But at the end of 2017, suddenly it fall down upto Rs. 600000/- (10000 USD) = 01 BTC. Again decreased upto 3000/- USD. In the year 2018, the rate till fluctuate between 7000 USD  to 9000 USD.

So, you not have any previous prediction or no calculation of it. So, think 10 times before investing. If you still have to invest, then invest the money that you have extra and do so only as long as you can handle. Do not put too much money at all.

Note :

If you want to buy crypto currency then but it in that time when it is going down the lowest rate.

If the rate of crypto currency is going to the top, then sell it, because, it going to be down now.

Never invest your money to buy crypto which in need.

Always invest in small amount in this field. So that you can handle in difficult times.

Always invest in small capital in every periodical time when crypto rate has fallen down to down.

When the market is down, then sit & wait for overcome the situation.

Always go on thinking whenever any negative issue  has comes out in the market related to crypto, means the rate will be fall down. So, sell it if you already buy & gain even a little bit profit, other wise wait. Or if any positive issue has comes out from out that means the crypto rate will be increased, in that case, just hold of your  investment for achieves a big profit margin.

In my opinion, not invest your money in crypto. If you want to gain profit & earn money through crypto, just mined it thought cloud mining provided by various website that mention above. There is no need to invest money, only required your PC, Laptop, Smartphone for cloud mining, a little bit electricity cost will be happens but that will be very small of amount due to CPU mining but if you want to mine a big amount of crypto currency, in that case you have to required GPU mining that would be required a higher amount of electricity due to required lots of computer , higher value of graphics memory, but you have mine a bigger amount of crypto currency.  Some company will provide you cloud mining that have not required any physical setup & doesn’t required to continued keep running of your pc. As well as in some cloud mining everyday you will get some ‘faucet’ points, means a little bit satoshi (1 satoshi = 0.00000001 BTC) to purchase the GHS-4 power (A power that required for to increase your mining speed), & everyday you can increase your mining power & mine the any crypto coins. If you want to mine with a lot of speed of mining for more earning then you have to required to buy for gain extra GHS power for increase the mining power. After mining & reaching a specific amount of crypto currency, you can transferred to your crypto wallet of your local crypto exchanger according to your country based and then transferred to your bank account. But problem is that lots of country has ordered to their bank, not to receive any amount from crypto local exchanger. So, you can mine the crypto currency but when you try to put your money through this type of local exchanger of your country, the process will be denied by bank. So, the govt. of all countries has not banned on crypto trading, but banned all the bank transaction from the crypto exchangers. In India, Zebpay till provide their services on buy or sell or transferred any crypto currency from or to their wallet & then transferred to the customers bank account. But it is not confirmed that how long they will be able to continue their services properly. So in this stage, the investors risk factor still remains in all ways regarding this crypto issue. So, first thinks then take a decision, you want to invest in it or not?

Hope it will help you…

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About the Author: Prosenjit Mitra

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