Monthly Archives January 2017

Where to earn Satoshis and how to make Bitcoins

Faucet Rotators

A faucet rotator is a repository of faucets, in other words its a directory that lists paying faucets. When you reach your withdrawal limit and withdraw your earnings are all grouped in the rotator from the you can then withdraw them into your wallet. The best faucet rotators currently are:

There are faucet rotators that have instant withdrawals and are specific for certain wallets. The following are for Xapo:

Faucets

Faucets is where you make most of your Satoshis which ultimately become a Bitcoin. The following is a compilation of faucets where you can earn you Satoshis. Most of them need you to enter you Bitcoin wallet address (refer to “Bitcoin wallets” post), solve a captcha and claim. You also earn through referrals.

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Bitcoin Wallets

Where do you keep your earned Bitcoins?

You need a wallet to store, send and receive Bitcoins. There are different kinds of bitcoin wallets available and I have reviewed the following:

1. Trezor
The Trezor hardware wallet is targeted at bitcoiners who wish to maintain a substantial stash of coins, but do not want to rely on third-party bitcoin storage services or impractical forms of cold storage. Developed by Czech startup SatoshiLabs, the $99 device is essentially a USB dongle designed to add an extra authentication layer to all outbound bitcoin transactions.

By virtue of its design, Trezor can be used to sign transactions on ‘unsafe’ computers and is impervious to keyloggers and many other vectors of attack, so even if your host PC is compromised, the attacker has no way of getting your private key. Apart from Bitcoins you can also store the following cryptocurrencies – Ethereum, Litecoin, DASH and Zcash.

Click here for more info

2. Ledger Nano S

Ledgerwallet the company behind ”Ledger Nano S” Cryptocurrency Wallet have released two other Hardware wallets in the past, Ledger Nano and Ledger HW.1. Unlike the previous models the Ledger Nano S features a small built-in screen from which Users can directly gather important information, via the device reducing the risk of computer malware threat since it embeds a secure OLED display that allows an individual to double-check and confirm each transaction with a single tap on its side buttons.

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What is Bitcoin?

Bitcoin

Making more money than we can spend is everyone’s dream but making money, enough money and in your own terms without a 9 to 5 job is the ultimate dream. Everyone would like the freedom to choose his/her own work hours while earning enough money to sustain a comfortable lifestyle. The internet has opened a lot of possibilities for this to be a reality. I have been on this fact finding journey since 2008 and have earned a few dollars/rands here and there but haven’t reached that stage of financial security one desires from internet based earnings. I get very excited though by the endless earning possibilities I have seen which sometimes make me feel like a kid let loose in a candy store.

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What is Bitcoin mining?

Bitcoin mining is more like a gigantic lottery where individuals compete with their mining hardware against everyone on the network to earn bitcoins. Efficient  Bitcoin mining hardware will attempt more tries per second to win this lottery while the Bitcoin network adjusts itself roughly every two weeks to keep the rate of finding a winning block hash to every ten minutes. Transactions are secured in Bitcoin mining and recorded in Bitcon’s public ledger, the block chain. By conducting a random lottery where electricity and specialised equipment are the price of admission, the cost of interupting the Bitcoin network escalates with the amount of hashing power that is being used by mining participants.

Video courtesy of: www.BitcoinMining.com

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