Bitcoin is one of the most demanded cryptocurrencies, with ample opportunities and great prospects. It consistently remains the most expensive and highly quoted. Unique coins have become well established in the circulation of the Internet space and are gradually being introduced into the real life of the modern community. But the main difficulty is that the Bitcoin cryptocurrency is very difficult to mine, its production has always been difficult, and after the halving that took place in May 2020, the reward generally fell by half.
This fact, according to experts, will lead to a deficit reduction in the asset, and this, in turn, will provide “digital gold” with a stable and confident price growth. Consequently, Bitcoin is also a promising asset in which to invest in the future.
Accumulating Bitcoins through Monero Mining: How Is It Possible?
One of the simplest ways to accumulate capital in Bitcoins is to invest the available funds in buying it. For example, mining coins that are easier to mine and exchange them for an expensive asset. Monero cryptocurrency can be a good option, it is easier to work with it, the one who found the block is given 2.12 XMR, while the solution takes 2 minutes. Starting from 11/30/2019, the RandomX mining algorithm is used. Feature:
- support for processors (CPU);
- the ability to “dig” even on video cards, although there is a large selection of pools.
Having accumulated a certain amount, you can exchange XMR to BTC through exchange services. Online exchangers convert cryptocurrencies at a set rate and do it in just a few minutes.
You can also use a cryptocurrency exchange for buying and selling, where you can win a little in price, but spend more time not only waiting for a suitable offer for a deal, but also studying the process of work (exchange platforms are more difficult to use than exchangers, and they definitely provide registration).
Why do they choose exchangers and what secrets do you need to know in order for the exchange to be profitable?
Each user chooses a more convenient way of exchanging Monero for Bitcoin, but exchangers are more popular. There is no need to wait for an offer, but you can immediately analyze the available options and make a choice in favor of the most profitable. The procedure does not cause any difficulties either; in fact, it is a matter of “a couple of clicks”.
Exchanges win only by profitability, but do not forget that there are different exchangers too. To make sure of this, let’s look at the list of exchangers and the list of rates on bestchange.ru, for example, as of July 07, 2020. The listing shows that at the same minute one could buy 1 BTC for both 145.21 XMR and 180.24 XMR, moreover, 64 exchangers worked, and in all the prices were different. As you can see, the choice is sufficient.
The difference in exchange rates in exchangers is also explained by the fact that everyone has their own conditions. For instance:
- the exchange service may offer a low rate, but there is an additional commission, the rate is not fixed at the time of application, and the minimum purchase amount is 1 Bitcoin;
- the service has a higher rate, while it is fixed, there are no additional commissions, you can buy from 0.1 BTC.
It remains to weigh the pros and cons, make several calculations and choose the exchanger with which it will be profitable to work. Pay attention to small details and work only with trusted services, then the exchange of Monero (XMR) to Bitcoin (BTC) will always be profitable and hassle-free.