Earn Money whilst you Sleep — Crypto Style
Ever wondered if it is truly possible to earn money whilst you sleep?
Well, this isn’t an e-book on that (99.9999999% are rubbish anyways). This is a real true story of how you can actually earn money, not doing much, theoretically.
Crypto Mining. It is the method where you join others around the World to share your computer’s resources to do calculations and earn coins. Well, that is in a nutshell or rather, that was how it started.
What do you do with these coins then? Easy answer, sell them for Fiat currencies (Money that is printed by Central Banks) or in some instances, hold/keep them (these people are nicknamed hodl).
These coins are known as digital currencies and apparently, in our modern society, holds value; real value.
So how do you get started? Well, it requires a little bit of computer knowledge and a few clicks of the mouse and off you go.
It started with Bitcoin (I am sure you have heard of this, else, I am not sure how you got to this page) and then many others follow suit.
For the uninformed, lets break it down in simple form. What is Crypto/Digital Currency? Imagine the currencies around the World. When you travel to China, you convert your home currency to Renminbi/Chinese Yuan (RMB), same goes to when you travel to Europe (except the UK), you convert your home currency to Euro. You get the idea.
These crypto currency/coins are a little bit like that, except, a Country’s currency is printed and managed by the Central bank whereby crypto currencies/coins are decentralised. Nobody manages it and everybody manages it (Get confused now).
Technically anyone can start their own cryptocurrency, just like you too can print your own money. However, does that coin hold any value?
If you start printing your own money (not counterfeits) literally with your name and your own design and use that money and people accepts it, there is value to it. However that is very unlikely. Well unless you are Elon Musk, I guess?
These rule applies to crypto currencies too. It depends on the acceptance of that said currency.
Now that is out of the way, let's get back to earning money whilst you sleep.
Mining crypto currency is easy (initially). All you got to do is install a few application and leave your computer on. There is no special hardware needed.
However as time have progressed and the adoption of crypto mining becomes prevalent, you now need special hardware to mine (for certain coins).
At the time of this article, Bitcoin is no longer possible to be mined using home computers, whereby the 2nd biggest coin (by market cap) Ethereum can still be mined using your home computer equipped with a graphic card (6GB of memory).
Technically, you can earn a few hundred dollars a month just leaving your computer on.
If you are interested to learn more, try researching on “Ethereum mining” and see if your computer is sufficient to mine the said coin.
I am too busy to write a tutorial. I am busy mining (sleeping).