Your first Bitcoin: a sure way to get it without breaking a sweat

ELEGRO Ecosystem / October 24, 2018 / Comments: 0
24.010 post

People do love money. Whatever the form, valuable assets we can benefit from can build a lot of hype. Bitcoin is a perfect case in point. The precious coin is a sort of all-in-all for millions of users around the globe, to say the least.

Perhaps, one of the most frequent questions people ask about Bitcoin is: where does it come from? When it comes to traditional cash, it’s pretty obvious that “common” money is “born” in central banks. As for cryptocurrency (to be more specific, BTC), these days you have three different ways to get it. So, how about you and we find the best one? That’s the spirit! Well, let’s get started.

Deeg it right to hit pay dirt!

Mining is the most “ancient” way to acquire Bitcoins. Crypto mining was developed by a bunch of enthusiasts including tech-savvy libertarians, cryptographers and assorted hackers. Pretty soon, all easy money was scooped out. As for the Bitcoin vein, it remained buried under many tons of hard rock (in the cryptographic equivalent).

The truth about Bitcoin mining is, only true geeks can do it. Only the guys with specialised, high-powered machinery who have an endless electricity source can profitably extract Bitcoins.

In other words, Bitcoin mining is profitable for small companies only if they use free or really cheap electricity. Sad but true.


Bitcoin as an investment? Don’t think so!

Another way to benefit from Bitcoin is to invest in it. Sure thing, the coin can boast of lots of great uses including cheap payment sending and better privacy. On the other hand, some stock markets refuse to deal with Bitcoins and cryptocurrencies.

A year ago, people believed that Bitcoin is “a scary currency used on the black market to get guns and drugs shipped to your home.” Yep, that’s what Australians call “beating around the bush.” As for the real cons of Bitcoin investment, they are:

  • volatility (the prices always change in huge ways);
  • Bitcoins allows for online payments without ID (that’s bad as you can easily purchase “nasties” and avoid taxes);
  • it takes too long for Bitcoin network to verify transactions.

In terms of stock market, Bitcoin (and cryptocurrency as a whole) needs work. Luckily, there’s hope, all the pesky bugs will be fixed in the nearest future. You just wait and see!

Want it? Buy it directly!

Let’s see now, mining is too costly and dealing with stock markets is full of uncertainty (as yet). Not too promising situation, eh? Well, here’s the best part: there’s a user-friendly virtual ecosystem for you to own and use Bitcoins and other popular cryptocurrencies! That’s right, from now on you can use crypto coins for their intended purpose.

elegro, a team of IT-savvy eggheads, came out with a suite of blockchain-based products that build a fine payment structure. The system has every single tool to make you a proud cryptocurrency owner.

Solutions that make your coins busy

Crypto Exchange, a service that allows to exchange crypto coins for “common” money and back. In other words, you can get so-near-to-your-heart Bitcoin in the most comfy and “orthodox” way.

Crypto Wallet. Now, here’s a real catch for cryptocurrency enthusiasts! The service allows to store, use, exchange and withdraw both traditional and crypto funds. The wallet can be branded. That means you can make it fit the company style. A customer-oriented product, the clear win.

Suppose, you want to go shopping and pay with Bitcoins. In this case, Retail (PoS) solution is off the charts. It turns your smartphone into a full-fledged Point-of-Sale accepting crypto coins. As a buyer, you don’t need to bother with all that bank-related stuff. As a merchant, you can accept Bitcoins and other popular coins to withdraw good old cash. Very business-like, very easy, and very little risk!

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