In the last decade, the growth of cryptocurrencies has been exponential, and even more so that of Bitcoin. For this reason, it has attracted the investment of different people and companies. As many know, this was the first cryptocurrency in the world “bitcoin” created under the pseudonym of Satoshi Nakamoto. Since its creation, the concept of money and finance has changed a lot. While bitcoin is gaining ground, many people are looking for a way to work with it and be able to make a living or even generate significant wealth. That’s why in this Bitcoin guide. We will teach you how to explore techniques so you can learn to work with the bitcoin cryptocurrency. We will help you learn to manage and use effective tools.

What is Bitcoin?

Bitcoin works as a decentralized currency and is fully digital operated under a peer-to-peer network. This means that it does not work the same as the normal circulation currencies of countries issued by governments, Bitcoin is a currency that is not controlled by any entity or government. To generate a transaction, it is necessary to register a chain of blocks (blockchain), in this way it is registered in a database that is completely public and ensures that the operations are transparent.

How to Get Bitcoin?

1. Buy on Exchanges: To obtain bitcoin you can do so through exchange platforms such as: Coinbase, Binance, Kraken, among others. These platforms allow users to buy or exchange cryptocurrencies for other cryptocurrencies or fiat currency (dollars, euros, among others).
2. Mining:  Mining is a process that, to make it possible, specialized computers must be used for cryptocurrency mining. They generally use complex components and algorithms to solve mathematical problems that validate Bitcoin transactions and at the same time they are added to a block chain. Miners receive a reward for their work, of course this reward is in Bitcoin.
3. Through payments: Other people manage to acquire bitcoin through payments for services or goods. There are more and more companies that accept Bitcoin as a payment method.
4. Work for Bitcoin: There are various companies and platforms that offer their employees to be paid with cryptocurrencies, including bitcoin, such as Bitwage, which allows workers to receive their salary in Bitcoin, and on the other hand, freelancing platforms such as Cryptogrind and XBTFreelancer allow their freelancers to acquire cryptocurrencies through payments from clients who want to pay with them.

Bitcoin Investment Strategies

1. Hodling: To implement this strategy it is necessary to buy Bitcoin and not sell it for a long period of time, regardless of what happens. Those who apply this formula ensure that their money is appreciated in the long term.
2. Trading: Those who practice trading are those who buy and sell the cryptocurrency in short periods of time and for that they do take into account market fluctuations. This strategy is productive if you know how to identify when it is appropriate to sell or buy, it depends on the case, it is volatile but can have significant short-term gains.
3. Diversification: If you invest in bitcoin and other cryptocurrencies you can reduce the risk and increase the chances of success.
4. Staking y Lending: There are services that allow bitcoin owners to earn interest by lending their bitcoins or participating in staking. Platforms like BlockFi and Celsius offer very beneficial interest for depositing Bitcoin.

Examples of Success

1.  Satoshi Nakamoto: The creator of Bitcoin, this anonymous character, is the person who has approximately 1 million Bitcoins under his power, which in US dollars is currently billions.

2. 2. Laszlo Hanyecz: In 2010, Hanyecz made the first Bitcoin transaction, buying two pizzas for 10,000 Bitcoins. At that time the value of bitcoin was very low, it didn’t seem like much, but today those bitcoins would be worth millions of US dollars.
   3. Companies like Tesla and MicroStrategy: Tesla and MicroStrategy companies have invested billions of dollars in Bitcoin. Thanks to these actions, they have managed to increase their value in the market and at the same time have also managed to generate confidence in bitcoin assets.

Companies that Work with Cryptocurrencies

1. Coinbase: Coinbase is one of the most important exchanges in the world, where its users are allowed to use the platform to sell, buy and store assets in cryptocurrencies such as Bitcoin.
2. BitPay: This company allows you to do business by accepting bitcoin as a payment method. Making it easier to use cryptocurrencies in daily transactions.
3. Square (ahora Block, Inc.): Through its Cash App, it allows users to buy and sell Bitcoin. On the other hand, it has invested in bitcoin as part of its assets.

Tools and Applications to Work with Bitcoin

1. Wallets: There are various tools to store Bitcoin and other cryptocurrencies, for this you need a digital wallet, some of them are:
   • Hardware Wallets: Ledger, Safe.
   • Software Wallets: Electrum, Exodus.
   • Mobile Wallets: Mycelium, Trust Wallet.
2. Trading Platforms: For people who are interested in trading to make money in bitcoin or other cryptocurrencies, they use platforms such as Binance, Kraken and Bitfinex where advanced tools are offered to buy and sell Bitcoin.
3. Information Platforms: Sites like CoinMarketCap and CoinGecko offer their users important real-time data on prices, transaction volumes, and important metrics.
4. Payment Services: BitPay and BTCPay Server offer their users tools that allow companies to securely accept Bitcoin payments.

Tips and Strategies for Living and Working from Bitcoin

1. Continuing Education: Cryptocurrencies are constantly evolving and it is for this reason that you should always stay informed, through blogs, news and keep learning through courses.
2. Security: Security is the strong point of these platforms to work with Bitcoin, one of them is two-factor authentication, in this way it helps to keep keys private and secure when using hardware wallets to prevent losses.
3. Assess the Risk: It is always necessary to evaluate the risk, to be able to invest in Bitcoin and be profitable, for these you have to evaluate scenarios and different possibilities to make the best decision before investing.
4. Networking: Communities that work and study cryptocurrencies are important and joining them both online and in person at local events can provide valuable information.
5. Tax Optimization: Depending on your origin or where you do your business with cryptocurrency, you may be subject to taxes. That is why it is important to consult with a financial advisor specialized in this type of case to help you evaluate an appropriate decision.
6. Investment Automation: There are platforms such as HodlBot and Shrimpy that allow you to automate investment strategies in Bitcoin and other cryptocurrencies, making it easier to manage diverse portfolios.
7. Passive Income Generation: Achieve participation in cryptocurrency exchange affiliate programs or lend bitcoin under regulated lending platforms. Using trading bots can also generate significant passive income.

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Practical Cases of People Who Live off Bitcoin

1. Roger Ver: He is one of the first people to invest in Bitcoin and has financed various cryptocurrency startups. Thanks to this decision, he lives fully under this bitcoin ecosystem.
2. Andreas Antonopoulos: This person is a speaker, author, and Bitcoin advocate, Antonopoulos has generated a large amount of bitcoin through books, speaking engagements, and donations.
3. Vitalik Buterin: The co-founder of Ethereum, Vitalik has been involved in the world of cryptocurrency for some time since its inception, generating income in cryptocurrencies and especially in bitcoin through his work in the industry.

Bitcoin, the cryptocurrency that everyone would like to live financially, learning from this modern world is completely positive for your finances, but you must do it responsibly by always evaluating all the possibilities and establish a good strategy and application method, you can be a long-term investor or practice trading. In this article you have managed to understand that there are many methods to work with Bitcoin, that there are companies and people who live and work from cryptocurrencies, who work from Bitcoin. Success depends on you, you must use the platforms and tools that best suit you. Thanks to this you can obtain a successful life, getting involved in the digital economy, in the new world order, in the future. 

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