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What is bitcoin mining ⛏ 


Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the blockchain as it is a chain of blocks. The blockchain serves to confirm transactions to the rest of the network as having taken place.

Bitcoin nodes use the blockchain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.


How Bitcoin Mining Works

bitcoin mining

Where do bitcoins come from? With paper money, a government decides when to print and distribute money. Bitcoin doesn't have a central government.

With Bitcoin, miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine.

bitcoin is secure

Bitcoin is Secure

Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe, and secure.

Why is mining so important?

Cryptocurrency networks need computational power to run securely. The world’s most powerful blockchains are supported by millions of computers around the world.

Unlike paper money, Bitcoin and other cryptocurrencies are produced mathematically and held digitally. The people who voluntarily offer their computing power to secure these cryptocurrency networks are called miners. Cryptocurrencies don’t have a central government or other so-called ‘middlemen’ that decide about the future of the system. – They are in fact digital, borderless democracies in which miners vote with their computing power to reach order and consensus.

What’s the incentive for miners?

It all comes down to trust: Miners keep the blockchains trustworthy and are rewarded for their efforts.

As miners, we are processing and verifying the transactions of the cryptocurrency ecosystems and keeping their public transaction history (=blockchains) maintained and secure. For this, the mining community is rewarded with the networks’ transaction fees and newly created coins. It’s a win-win situation! When you start mining with us, you are getting your share of this reward.

The big vision of cryptocurrency.

The future will be decentralized.

To keep the integrity (and values!) of all cryptocurrency ecosystems intact, miners keep the networks safe and its authority decentralized by keeping each other constantly in check. This allows both healthy growth and a fair distribution of currency units to all crypto-citizens!



Forex/CFD Trading Guide

What is Forex/CFD?

Forex trading is exchanging a certain currency for another, generating profits or losses for the changes in the value of these currencies.

CFDs – contracts for difference, CFDs are a derivative product that a trader can trade on the difference between the prices on these assets.

Another benefit to forex trading is that anyone can participate with just a small initial investment.

There is a tradeoff, however.

The small capital requirements in trading forex are due to the use of leverage when trading forex. For example, if the leverage used is 1:50, this means that an investor can control $5,000 worth of currencies with an investment of as little as $100.

While this can generate profits more rapidly, it can also lead to losses more rapidly and if the trader's account is small they may soon find themselves the victim of a margin call and the loss of all their trading capital.

Trading on FX or CFD’s – This nature of trading can be risky and we recommend that our traders will make sure that they fully understand the commitment needed for trading.

The main advantage of trading on Forex and CFD’s is the volume involved and the non-stop liquidity (mainly in Forex) with a daily turnover, exceeding 5 trillion USD is active 24/5 and is extremely volatile, with prices constantly fluctuating.

 

Why Trade Forex?

Forex presents an extremely fast-moving and potentially lucrative opportunity for FX investors around the world. Trade our FX/CFD platform for a number of reasons.

 

Trade our FX/CFD platform for a number of reasons:

  • The forex market is decentralized in essence, with no one country, government, institution, company or other body able to fully control it. All market participants can exploit the same opportunities and are guaranteed fair pricing and access to the same financial information.
  • Forex/CFD trading enables you to buy or sell, taking advantage of market shifts in either direction.
  • On the Forex market, you can trade at your convenience, 24 hours a day. Benefit from currency movements in countries from every corner of the map according to local market opening hours.
  • When trading Forex/CFD you can use leverage, which enables you to increase the revenue from your initial investment if the position is in profit.

 

Trade Forex/CFD with bitprofitfxtrading.com to Benefit from:

  • bitprofitfxtrading.com's exclusive forex offering, with its unique user interface, enables you to transition between forex and our other products at a click, all using a single wallet.
  • A user-friendly UI – completely accessible and intuitive.
  • Controlled risk- set exposure limits per trade with Stop Loss and Take Profit activated by default.
  • Multiple trading tools – advanced in-window charts and technical indicators.
  • No negative balance- never lose more than you have in your account.
  • Attractive trading terms- tight spreads, flexible leverage (default leverage is 1:50), and no margins.
  • Exclusive educational resources- videos, eBooks, personal training, webinars, etc.
  • Each trade is stand-alone- no single trade will impact any other open position.