Bullruns and falls of Bitcoin are accompanied by numerous publications in the media, forecasts of large investors and technical solutions to network problems.
However, at the moment, the fortunes of Bitcoin depend more on adoption by ordinary users than on investors and programmers. So what do miners, traders and other community members think about the prospects and state of Bitcoin? In this article we will look at reviews about Bitcoin.
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Cryptocurrency exchanges
For example, you decide to use your savings to buy Bitcoin or any other cryptocurrency. You type “buy bitcoin” into the search engine and the first non-advertising link takes you to the Binance exchange.
Wikipedia tells us that it is one of the largest international online digital currency exchange services. The exchange was founded in 2022 in Hong Kong. There are other exchanges, but we will focus on the market leader. That is, we assume that all other exchanges are definitely no better or more reliable than Binance.
I went online to look for real reviews or reviews about this exchange. And this turned out to be a problem. Because 95% of articles and reviews are strictly positive and have a referral link at the end to attract new crypto investors. It would be foolish to expect that sites whose creators live on income from affiliate programs from cryptocurrency exchanges will write negative reviews. Specifically, Binance offers a very generous reward - up to 40% of the commissions of attracted traders.
The blogger who painted the cryptocurrency exchange in all its colors is interested in attracting you through his affiliate link in order to receive his royalties. And it doesn’t matter at all whether you lose your money or increase it - the person who lured you will be in the black anyway. I read several reviews about this exchange and in each review there is a referral link that leads to registration:
Reviews about the Binance exchange
In my search for the truth, I still found negative reviews on the Internet. I can’t say that I’m sure of their veracity, but reviews and opinions without affiliate links are a little more credible than pure advertising.
Negative feedback:
I only included screenshots of negative reviews. I don’t see the point in citing positive ones, because the entire Internet is already replete with them. Just remember that when you trade cryptocurrency, your coins are stored on an exchange that is based in China. In case of any problems when withdrawing funds, you will not be able to come to the branch and write a statement demanding to understand the situation. It will be difficult to prove something and return it. Storing your money on a cryptocurrency exchange is an additional risk. This is not 100% a scam, but you are unlikely to be able to defend your rights in court if you lose money through no fault of yours.
EARNINGS ON BITCOIN
Be careful! There is a high probability that this is a customized review.
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Is it possible to make money on cryptocurrency? Yes, of course you can. Another question is how much. But in order to earn money, you need to buy this cryptocurrency. Or get it another way. We will not consider dozens of its names, but will focus on the clear leader - Bitcoin, which has recently recorded its unprecedented growth - $37-40 thousand. This is how much 1 BTS costs. It is also predicted to take off further. Some experts talk about $100 thousand, while others even aim at 150. But time will tell.
Photo used from free access
WHERE TO GET FOR FREE
To the uninitiated, as soon as he asks the phrase “Earning money on Bitcoin” in the search and starts visiting sites on this topic, an amazing and phantamagoric world will open up. (More about phantasmogoricity later.) It will quickly become clear that you can not only buy cryptocurrency, but also earn it for free. Reviewers report website addresses for receiving digital money here on their website. They often talk in great detail about how and where it is more profitable to work, and break down the specifics - earnings themselves, games, lotteries, competitions, referral rewards, etc.
Why are they doing that? Firstly, the topic of cryptocurrency is very popular - and this means a flow of visitors to the resource. Secondly, by providing lists of verified, paying sites for collecting cryptocurrency, they, of course, use their referral links. By registering using them, you personally do not lose anything, but the distribution site itself pays the referrer you signed up for a reward, based on the amount of work you have completed.
HOW MUCH YOU CAN EARN ON BITCOIN
For now, we are only considering earnings on sites that distribute cryptocurrency for free. Namely, its fractional units. For example, one Bitcoin contains one hundred million satoshis (in our opinion - kopecks). Numerous cryptocurrency sites offer earnings on such “pennies”.
In 2016, when I first tried to collect satoshi, one bitcoin cost only $430-460. It was not difficult to find resources that gave 200-250 satoshi. 10 thousand of these units could be assembled in just a day. However, this required hard work “from dawn to dusk.” In terms of dollars, it was only $0.046. That is, a very small amount.
Now, taking into account $37,000 per Bitcoin, for 10,000 Satoshi you can get $0.037, that is, even less. But you will have to work much more; the issuance of rewards depends on the cryptocurrency rate. And now it’s only 1-2-5 and, if you’re lucky, forty satoshis from the site, and not 250, as in 2016. It turns out that collecting cryptocurrency units is a slave and thankless job.
Yes, you will collect these notorious 10 thousand not in one day and not from one site, but by opening 10-15 tabs. The fact is that sites have different conditions for issuing rewards. Some after 3 minutes, others after 5-10-15-20-30 minutes. There are those who give it once an hour, but more, and even those that allow you to do this only once a day.
WHY THEN DO THEY COLLECT
Of course, you can earn more. But for this you need to have a whole army of referrals. Let's imagine that somewhere in the outback a little advanced user sits with a mediocre computer and frantically clicks on the keys, collecting satoshis all day long. He has 15 tabs open at once, ranked according to the time the digital money is issued, from 3 minutes to 1 hour. He moves from one tab to another and comes back in a circle when the first site begins to issue a new portion of cryptocurrency. And by the end of the work shift, he has the coveted thousand satoshis (i.e. 0.037 bucks). It’s not difficult to calculate how many referrals he needs to get under his name on all 15 sites, who will work at the same pace as him in order to earn $70 per day, and not 0.037. Why am I talking about $70? Yes, simply because the common daily assessment of the work of a general worker in the “outback” has not changed for several years - it was 500 rubles and remains so. Taking into account the fact that referral rewards reach up to 80 percent, this is at least 2 thousand of those who will work like bees (that is, 133 for each hilled site). Where can you get so many people interested if you don’t have your own well-promoted website or blog? And there is no money for paid advertising either. Social networks do not allow you to publish third-party links, and on forums they also look at it askance.
You can, of course, place ads on cryptocurrency sites using Satoshiki that you clicked on yourself, but only on those resources that offer earnings from viewing ads. This is all very, very long and not very effective. But you can’t call all Satoshi collectors complete idiots.
And the answer is simple: among those who hope for manna from heaven, there are those who know what they are doing and, having earned even 10 thousand satoshi, move on with them.
HYIPS AND MINING
And here we come to the most interesting part. HYIPs posing as sites of investment companies, but in fact not investing anywhere, and a large number of mining sites that claim that cryptocurrency is mined - or rather, mined by those who invested in them, but in fact they are familiar financial pyramids. After some time, they happily crumble, and you lose your satoshi, earned by such hard work.
If you are very lucky, you can get 10-20-50 or even more percent per day on your deposit. There are advanced people among crypto miners. They carefully study the ins and outs of such “investment” companies that issue interest at the expense of the deposits of others. Hype also needs to be earned, so there is hope that it will last a month or two. And if you keep track of the newly emerging “phantasmogoria”. Most of the average cryptocurrency miners have a very vague idea of where it actually comes from. One gets the impression that it supposedly comes from nowhere, from thin air. It is not for nothing that there is an opinion that soon all this will burst like a soap bubble. Others, on the contrary, claim that digital money is the currency of the future. Its area of action is now like a state within a state. Movements cannot be calculated, taxes cannot be collected. It remains to either ban it, which promises a fight against windmills, or admit it. In the meantime, there is continuous damage that can reach a global scale.
Some people call Bitcoin the devil's coin. A huge mass of people are pulled out of the understandable work activity and go into the gray zone, drawing their income from some virtual world, investing not only their whole selves, but also their material values in the extraction of electronic money. If you look from the outside, this is a break from reality, the replacement of certain established concepts with others - incomprehensible and, in part, even mystical. It’s as if the devil actually supports this huge, unparalleled industry, which nevertheless tends to rise more often than to fall.
Theft or loss of cryptocurrency
You can store cryptocurrency in several ways: on one of the exchanges, on your computer/flash drive/hard drive, or even in paper form (printing a QR code on paper). But all these methods have drawbacks.
If you store your Beethovens on an exchange, then you run the risk of losing your investment as a result of a hacker attack on the exchange itself. There are quite a few stories like this:
As you can see, even the most popular exchange Binance was also hacked.
If you store crypto on a computer/flash drive/hard drive or in paper form, there is a risk of losing your savings as a result of loss or damage to the media. I remember an episode from “The Big Bang Theory”, where the guys lost a flash drive with Bitcoin, and their friend, who found this flash drive in his comic book store, simply formatted it
