Have you heard of bitcoin? Unless you had been asleep since 2009 I’m sure you might have heard or come across this mysterious coin.

But if by any chance you have not heard of it or have no idea what it is then this article is for you. One of the biggest problems facing Africa is the laziness to read or undertake research on trending topics in the world. We often tend to ignore changes until the time we would have to struggle to keep up when other are far ahead.

Let’s discuss a bit about bitcoin and others of it’s kind known as cryptocurrencies. we will cover topics on What it is, where it came from, where it is heading and most importantly how do you also join the trail.

Thankfully a lot have been published about this so I will only be serving you with links which I could never explain better than!

What are cryptocurrencies, where are they from, where are they heading  and all you got to know; Click here

Now that you are well acquainted with knowledge of this new order of monetary transactions how do you get into that world?

The first thing you need to do to enter the world of cryptocurrency is to create a wallet. It’s like your bank account where the coins can be stored. In this case there is no physical cash so you have no options but to have this account. There are so many platforms where you can register for free but I prefer Coinbase 

Once you have your digital address, you have to protect your password like you would your physical wallet.

Now let’s go through the many ways you can go about getting the coins into your wallet.

  1. Mining:  There are so many ways you can get bitcoins or any other coin without mining yourself even though mining is the ultimate way. So how do you mine bitcoin? well, I will try to explain as plain as possible so that u may understand. Mining involves solving extremely complex puzzles which consumes a lot energy and computer processors and unless you have the special computers for this you have no business going there. In the physical world it is like digging free earth for gold, if you go with a cutlass or hoe to dig gold you can imagine how ridiculous that would be. But in this instance you do not need to buy the land to mine, if you have the right excavators you just go about mining. There are websites that provide the mining environment an example is Freebitco
  2. Get paid for completing tasks: There are platforms on which you can complete surveys, watch ads, click ads or other small tasks for some free bitcoins which you can collect to your bitcoin address. One example is the BTC clicks project where you can register and complete tasks to get paid in bitcoins.
  3. Referral net works: There are websites that reward you in bitcoin based on the number of people you are able to refer to them. This way they get their money from the traffic generated. Also when a new cryptocurrency comes into the system all they want is the numbers in order that the value of the currency can go up. Hence at the beginning they dash a lot of free of the currency for newcomers and for referrals. An example is the VitroCoin which is quite new and you can trade for bitcoin on the same platform. Cryptomining Farm also works well especial with their 50 Gh cedes upfront payment and free 1 satoshi. The latest pre ICO coin known as ACTION COIN is also here and I think you should catch free coins before march 1st
  4. Gaming sites: There are platforms who allow you to play games or roll dies for bitcoins, the amounts are often relatively small but they are worth a shot. One on such sites is Freebitco platform where you get to roll a die every one hour. They also have a miner where you can use you computer browser to mind and earn bitcoins (not advisable). Freebitco also have a referral program. Another of my favorite bitcoin earning online game site is Bit fun. As the name suggest, it is fun and you get paid in satoshi (a smaller unit of bitcoin)
  5. Buy: I think this is by far the easiest way to get bitcoin, by buy from miners. Bitcoin price is very volatile therefore investors tends to buy when the prices lowers and sell off when it rises. You can also rent miners online to do the mining for you but be careful here as there are many fraudulent sites in this category.
  6. Social Media: You’d probably be wondering now, what is he talking about? Oh yes, social media can earn you bitcoins, you just have to know where to blog your articles. I think so far the most successful one of them is SteemitIt is also my favorite social media now. It is a decentralized platform where articles get paid when they are upvoted. I am sure you are not familiar with that so lets say when the article gets liked. But on  Steemitall likes are not of equal value. The worth of an upvote depends of the worth of the voter’s account.
  7. Every writer of original content needs be on this platform. It has two currencies called Steem Backed Dollar( SBD) and Steem which you can exchange for bitcoin on so many exchanging platforms. The good news is that there is a growing Ghanaian community on this platform with Whatsapp groups to help new authors. In case you join the platform remember to follow @ehmkannde. You can also contact me on Facebook so I can introduce you to the Ghanaian community.

This is not to suggest that the above are the only ways to get into the crypto world but they are systems I have used and I know it is fairly easy for any lay man as far as you can read and understand this article. Don’t wait any longer for the government, cryptocurrency gives you power beyond your imagination but don’t take my word for it, google and read more. And if you decide to join, cheers and see you at the top.

For your information 1 bitcoin is worth 66,456 Ghana cedes at the moment.

Thanks for  reading, if this was useful please share it for others and don’t forget to subscribe to my mailing list.

 

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The world of cryptocurrency what you need to know to fit in
Article Name
The world of cryptocurrency what you need to know to fit in
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An intro into the world of cryptocurrency
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Ehm Kannde Notes
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