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<title>How to sell Bitcoin</title>
<link>https://bullminers.eu/how-to-sell-bitcoin/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-sell-bitcoin</link>
<comments>https://bullminers.eu/how-to-sell-bitcoin/#respond</comments>
<dc:creator><![CDATA[]]></dc:creator>
<pubDate>Wed, 10 Mar 2021 17:53:00 +0000</pubDate>
<category><![CDATA[Bull Miner Guide]]></category>
<guid isPermaLink="false">https://bullminers.eu/?p=7115</guid>
<description><![CDATA[In this comprehensive guide, we'll simplify the process of selling Bitcoin and provide you with easy-to-follow steps. Whether you're a beginner or an experienced trader, we've got you covered. Say goodbye to the hassle of selling Bitcoin and say hello to seamless transactions.
The post <a rel="nofollow" href="https://bullminers.eu/how-to-sell-bitcoin/">How to sell Bitcoin</a> appeared first on <a rel="nofollow" href="https://bullminers.eu">Bull Miners</a>.
]]></description>
<content:encoded><![CDATA[
Introduction
Once you’ve <a href="https://bullminers.eu/how-to-buy-bitcoin/">bought some Bitcoin</a>, it can be quite a process figuring out how to sell Bitcoin afterwards.
In this guide, we’ll make selling Bitcoin a breeze and let you know how to sell your Bitcoin easily on some of the most popular Bitcoin exchanges, including Coinbase, Binance, Changelly, BitMEX, HitBTC, and LocalBitcoins. You’ll also learn how to keep track of all your sales as well as potentially dive deeper into the market with charting and technical analysis.
Where to Sell Bitcoin
There are several places to sell your Bitcoin but we’ll go over some of the easiest and most popular ones.
Selling Bitcoin on Coinbase
<a href="https://www.coinbase.com/join/5945cd1525cbc84dcc9e61e9">Coinbase</a> is one of the most popular exchanges for buying and selling cryptocurrencies like Bitcoin. This is probably due to how easy the platform is to use as opposed to other exchanges, which might be more oriented towards those familiar with trading platforms.
To sell Bitcoin on Coinbase, login to your account and send Bitcoin to your Coinbase wallet (if it’s not there already).
This can be done by going to the “Accounts” tab at the top of Coinbase and depositing BTC to your Coinbase BTC wallet (hit “Receive”).
Afterwards, go to the Buy/Sell tab to sell BTC from your BTC Wallet and send the proceeds to your preferred linked account, such as your bank account.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2018/05/how-to-sell-bitcoin-coinbase1.jpg" alt="selling bitcoin on coinbase"/></figure>
Selling Bitcoin on Binance
<a href="https://www.binance.com/?ref=11906672">Binance</a> is another hugely popular cryptocurrency exchange where you can sell your Bitcoin. However, Binance is cryptocurrency-only and you can only sell your Bitcoin for other cryptocurrencies (in other words, buy other cryptocurrencies using Bitcoin). Luckily, there is a huge array of cryptos to choose from, including Ethereum, Litecoin, and Bitcoin Cash as well as some relatively obscure ones.
Although Binance isn’t as easy to use as Coinbase, its huge selection of cryptocurrencies is a big draw for many.
For beginners, the easiest way to sell Bitcoin on Binance is to deposit Bitcoin to your account and then go to whichever cryptocurrency you wish to buy with your Bitcoin. Scroll to the bottom where it says “Buy *Insert Desired Crypto Here*” then place a market order (an order based on currently available market prices).
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2018/05/how-to-sell-btc-binance.jpg" alt="selling bitcoin on binance"/></figure>
(For example, instead of selling Bitcoin for dollars or other fiat currencies, you could sell it for cryptocurrencies like Walton).
Selling Bitcoin on Changelly
<a href="https://changelly.com/?ref_id=f9fd11a2efed">Changelly</a> is another place that you can easily sell your Bitcoin.
While you can buy Bitcoin on Changelly using fiat currencies, such as the dollar and euro, you cannot sell Bitcoin on Changelly for fiat currencies. Instead, you have to sell your Bitcoin for other cryptocurrencies just like on Binance.
Nevertheless, Changelly, too, has quite a broad selection of cryptos to choose from, and you can sell BTC for cryptos including but not limited to Monero, Dash, Ripple, Ethereum, Ethereum Classic, Litecoin, and EOS.
Just enter how much BTC you want to sell using the box on the left, then select the crypto you want in return on the right. Changelly will calculate how much of the other crypto you get using real-time exchange rates.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2018/05/how-to-sell-bitcoin-changelly.jpg" alt="how to sell btc on Changelly exchange"/></figure>
Selling Bitcoin on BitMEX
<a href="https://www.bitmex.com/register/WM64vP">BitMEX</a> is another exchange for selling Bitcoin. BitMEX is different from the exchanges covered thus far as it is most definitely geared towards experienced traders. For example, it offers trading on leverage, which can be great for selling Bitcoin if you want to short the market because you believe that the price of Bitcoin will drop.
BitMEX offers various order types: limit orders, market orders, stop orders, stop limit orders, trailing stop orders, take profit limit orders, and take profit market orders.
Each of these order types can be further customized as well.
Note that all BitMEX trading (both buying and selling) is done in Bitcoin. For example, if you successfully short Bitcoin, any potential profit is calculated in Bitcoin, which you can then withdraw to other places for selling to fiat or different cryptos.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2018/05/selling-cypto-with-bitmex.png" alt="how to sell cryptocurrency on bitmex"/></figure>
Selling Bitcoin on HitBTC
<a href="https://hitbtc.com/exchange/?ref_id=5af381af10823">HitBTC</a> is yet another exchange for selling Bitcoin. HitBTC is similar to Binance in that you can sell your Bitcoin for a wide array of cryptocurrencies, such as Ethereum, Monero, Dash, ZCash, Ripple, EOS, and more. Also, as with Binance, you are technically buying other cryptocurrencies by selling your Bitcoin for them with the exception of Tether (value pegged to the dollar), which offers a more intuitive Sell BTC for Tether option.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2018/05/using-hitbtc-to-sell-bitcoin.jpg" alt="Bitcoin Sales on HITBTC"/></figure>
Selling Bitcoin on LocalBitcoins
<a href="https://localbitcoins.com/?ch=r4f1">LocalBitcoins</a> is another place to sell Bitcoin but is different from the exchanges covered up to this point. Unlike other exchanges, which act as market makers or trade matching platforms, LocalBitcoins is a peer-to-peer (p2p) exchange. LocalBitcoins merely acts as a middleman between buyers and sellers of Bitcoin and provides an escrow service to help prevent fraud.
LocalBitcoins users can sell their Bitcoin for different currencies and other types of value. In the United States, users can sell Bitcoin for dollars via bank transfers, Paypal, Moneygram, and Western Union. If users want some sort of payment other than cash, they can even sell Bitcoin for things like gift cards on Amazon and Ebay.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2018/05/selling-bitcoin-on-localbitcoins.jpg" alt="how to sell btc on localbitcoins"/></figure>
Tracking Bitcoin Sales – Cointracking
For those selling Bitcoin frequently, it can be frustrating trying to log all of your trades for accounting and tax purposes. Instead of using an Excel sheet, many sellers of Bitcoin opt for more convenient options, such as <a href="https://cointracking.info/?ref=N525585">CoinTracking.info</a>, which takes your Bitcoin sales from different exchanges and platforms then generates reports on coin value, profit and loss, realized and unrealized gains, estimated taxes, and more.
Trading Charts – TradingView and Coinigy
If you’re looking for advanced charting and technical analysis options to take a deeper look at the Bitcoin market, <a href="https://tradingview.go2cloud.org/aff_c?offer_id=2&aff_id=10322">TradingView</a> and <a href="https://www.coinigy.com/?r=21be0b79">Coinigy</a> are two of the most well known options amongst buyers and sellers of Bitcoin. Both have free and paid user accounts.
Of the two, TradingView is more popular amongst Bitcoin traders. The site’s free plan gives you three indicators per chart as well as one indicator template. On top of the free plan, other factors that draw users to TradingView is that the paid option is slightly cheaper than Coinigy’s, but still offers real-time data options, faster data flow (compared to TradingView’s free option), and no ads. Users can try the paid plan with TradingView’s free 30-day trial.
Another thing that people like about TradingView is its social aspect – users can view other users’ analyses, make comments (and potentially friends), and even post analyses of their own and get feedback. As such, TradingView is a great place for those who want to learn more about charting and technical analysis.
Coinigy is also a solid option to consider. It offers a free option but paid subscribers can take advantage of data from 45 exchanges, use Coinigy’s mobile app, receive email and SMS price alerts, and experiment with over six dozen technical indicators.
On top of its vast exchange support, Coinigy has support for more altcoins (cryptos other than Bitcoin) than TradingView and API support. As such, Coinigy might be a better charting and technical analysis option for serious traders.
Conclusion
If you got this far, congratulations!
Selling Bitcoin isn’t always easy the first time around. Regardless, after reading this guide, you should know everything you need to get started selling your first Bitcoin, keeping track of trades, and potentially analyzing the market.
The post <a rel="nofollow" href="https://bullminers.eu/how-to-sell-bitcoin/">How to sell Bitcoin</a> appeared first on <a rel="nofollow" href="https://bullminers.eu">Bull Miners</a>.
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</item>
<item>
<title>How To Buy Bitcoin</title>
<link>https://bullminers.eu/how-to-buy-bitcoin/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-buy-bitcoin</link>
<comments>https://bullminers.eu/how-to-buy-bitcoin/#respond</comments>
<dc:creator><![CDATA[]]></dc:creator>
<pubDate>Thu, 11 Feb 2021 17:51:00 +0000</pubDate>
<category><![CDATA[Bull Miner Guide]]></category>
<guid isPermaLink="false">https://bullminers.eu/?p=7112</guid>
<description><![CDATA[New to cryptocurrency and confused about buying Bitcoin? Look no further! This guide will walk you through the process of purchasing Bitcoin using popular options and exchanges. Plus, learn how to store your Bitcoin securely. Get started today!
The post <a rel="nofollow" href="https://bullminers.eu/how-to-buy-bitcoin/">How To Buy Bitcoin</a> appeared first on <a rel="nofollow" href="https://bullminers.eu">Bull Miners</a>.
]]></description>
<content:encoded><![CDATA[
Introduction
The process of buying Bitcoin can definitely be confusing if you’re new to cryptocurrency.
With this guide, you’ll learn how to buy Bitcoin using some of the most popular Bitcoin buying options and exchanges, store your Bitcoin safely, track your Bitcoin buying, analyze the market, and use your Bitcoin if and when the time comes.
Choose a Bitcoin Wallet
In order to store your Bitcoin, you’ll need what’s known as a Bitcoin “wallet”.
Since Bitcoin is virtual (doesn’t physically exist), a Bitcoin wallet is virtual as well.
There are tons of different Bitcoin wallets that you can choose from.
The main types of Bitcoin wallets include desktop wallets, mobile wallets, web wallets, hardware wallets, and paper wallets.
* When creating any type of Bitcoin wallet, make sure that you make a note of your private key (if the wallet provides one) and any other crucial information, such as passwords and recovery phrases! Most wallets DO NOT offer “Forget your password?” or other similar recovery options. With great power comes great responsibility.
Desktop Wallets
As the name suggests, desktop wallets are software for your desktop or laptop that allow you to store your Bitcoin. Desktop wallets can be a convenient way to store your Bitcoin and are considered safer than mobile and web wallets. However, the desktop wallet is as secure as your desktop – if your desktop is infected with malware, it’s possible that malicious actors can compromise your funds.
<a href="https://electrum.org/">Electrum</a> is one of the most popular desktop wallets for Bitcoin because it is easy to use yet offers advanced options for power users.
(For example, instead of selling Bitcoin for dollars or other fiat currencies, you could sell it for cryptocurrencies like Walton).
Mobile Wallets
Mobile wallets are great since you can access your Bitcoin on the go, or whenever you have your phone. However, again, your funds are only as safe as your device. Though you can recover your Bitcoin if you lose your phone using your private key and/or recovery phrase, it’s recommended that you only carry small amounts of Bitcoin on a mobile wallet at any given time.
<a href="https://breadapp.com/">Breadwallet</a> is a mobile Bitcoin wallet known for its simplicity.
Web Wallets
Web wallets are Bitcoin wallets that allow you to access your Bitcoin from a website. While this can be more convenient than storing your Bitcoin on a desktop, mobile, hardware, or paper wallet, web wallets are probably the least secure type of Bitcoin wallet and should only be used if you don’t have access to another type of wallet or if you are going to make a transaction quickly.
Examples of web wallets include web wallets, such as <a href="https://greenaddress.it/en/">GreenAddress</a>, which also offers mobile apps and a Chrome extension.
Exchange wallets would also fall under the category of Bitcoin web wallets. For example, users could store their Bitcoin on Coinbase or another exchange. However, with exchanges, you are usually not in control of your private key. If the exchange gets compromised, such as in the case of <a href="https://en.wikipedia.org/wiki/Mt._Gox">Mt. Gox</a>, you cannot restore your Bitcoin by entering your private key into another wallet that interfaces with the Bitcoin network.
Hardware Wallets
<a href="https://blokforge.com/product-category/hardware-wallets/">Hardware wallets</a> are one of the most secure ways to store your Bitcoin (along with paper wallets) and should be considered by those who hold significant amounts of Bitcoin. With a hardware wallet, your private key never leaves the device, making it much more secure than other options.
The <a href="https://www.ledgerwallet.com/">Ledger Nano S</a> is a popular Bitcoin hardware wallet.
Paper Wallets
Paper wallets are pieces of paper that have your private key. Paper wallets are considered to be the most secure type of Bitcoin wallet but are more suitable for long-term storage.
<a href="https://www.bitaddress.org/">Bitaddress</a> is a popular option for creating paper wallets. Save the page as an HTML file to your computer and move that HTML file to an offline computer via USB to generate the paper wallet and print it. Be sure to make copies of the paper wallet and store them in safe locations!
See <a href="https://bitcoin.org/en/choose-your-wallet">Bitcoin.org’s list of Bitcoin wallets</a> for more Bitcoin wallets (list not exhaustive). Be sure to research reviews for any wallet that you decide to use so that you don’t get scammed and lose your Bitcoin.
Where to Buy Bitcoin
You can buy Bitcoin through tons of avenues, but we’ll cover the most popular ones.
Buying Bitcoin on Coinbase
<a href="https://www.coinbase.com/join/5945cd1525cbc84dcc9e61e9">Coinbase</a> is many users’ preferred option for buying Bitcoin. Coinbase is a San Francisco-based cryptocurrency exchange that is known for its ease of use. The exchange also offers a handy mobile app.
After signing up, go to the Buy/Sell page to add payment options like bank account or credit card, and purchase Bitcoin. Note that to purchase higher amounts of Bitcoin, you will need to provide more ID for verification purposes. This is the case on most exchanges.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2018/05/how-to-buy-bitcoin-coinbase.jpg" alt="buying bitcoin on coinbase"/></figure>
Buying Bitcoin on Binance
<a href="https://www.binance.com/?ref=11906672">Binance</a> is another popular place to buy Bitcoin. However, Binance is cryptocurrency only – that is, you can only purchase Bitcoin with other cryptocurrencies, such as Ethereum, Litecoin, and so on.
Binance is known for its huge selection of cryptocurrencies and is a user favorite when it comes to altcoin (cryptocurrencies that aren’t Bitcoin) exchanges.
The interface isn’t as simple as Coinbase’s and is more geared towards users that are familiar with trading platforms. Also, technically you can’t buy Bitcoin directly on Binance but you can sell other cryptos for Bitcoin.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2018/05/buying-bitcoin-binance.jpg" alt="how to buy bitcoin on binance"/></figure>
(For example, if you had some Walton, you could sell it for Bitcoin).
Buying Bitcoin on Changelly
<a href="https://changelly.com/?ref_id=f9fd11a2efed">Changelly</a> is another cryptocurrency exchange known for its ease of use. Users simply select the amount of cryptocurrency or fiat currency (e.g. USD or EUR) that they have and immediately get a quote for their Bitcoin purchase based on real-time exchange rates. Credit card is supported, too.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2018/05/buying-btc-changelly.jpg" alt="Using Changelly to buy bitcoin"/></figure>
Buying Bitcoin on BitMEX
<a href="https://www.bitmex.com/register/WM64vP">BitMEX</a> is a cryptocurrency exchange that offers fast signups and requires no personal information. BitMEX might be favored more by advanced traders since it offers advanced options, such as 100x leverage.
There is no support for fiat currencies and Bitcoin trades have spot and futures trading options.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2018/05/buying-bitcoin-bitmex.jpg" alt="How to buy BTC with BitMEX"/></figure>
Buying Bitcoin on HitBTC
<a href="https://hitbtc.com/exchange/?ref_id=5af381af10823">HitBTC</a> is another place to buy Bitcoin. It offers high liquidity, low fees, no deposit or withdrawal limits, various cryptocurrency trading options, and more.
On HitBTC, users can buy Bitcoin using Tether (USDT) or sell other cryptocurrencies for Bitcoin.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2018/05/purchase-btc-hitbtc.jpg" alt="How to purchase Bitcoin with HitBTC"/></figure>
Buying Bitcoin on LocalBitcoins
<a href="https://localbitcoins.com/?ch=r4f1">LocalBitcoins</a> is slightly different from the previous Bitcoin buying options because, instead of acting as a Bitcoin exchange, LocalBitcoins acts as a middleman between buyers and sellers of Bitcoin, making LocalBitcoins a peer-to-peer (p2p) exchange.
Users can choose from tons of Bitcoin buying methods. In the United States, payment methods like Moneygram, Paypal, Western Union, and even gift cards for Amazon and Ebay are popular.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2018/05/how-to-purchase-bitcoin-with-localbitcoins.jpg" alt="Purchasing BTC with LocalBicoins"/></figure>
Withdrawing Bitcoin to a Wallet
After purchasing Bitcoin on one of the aforementioned sites, you can withdraw your Bitcoin to a wallet for safekeeping (assuming you’re not going to immediately trade the Bitcoin on an exchange).
Each site will have a slightly different process but the gist is the same: you find the withdrawal option, enter your wallet’s Bitcoin address, and wait for your Bitcoin to be sent from the site to your wallet.
Tracking Bitcoin Trades – Cointracking
For users that make a lot of Bitcoin trades, it can be a hassle keeping track of all the trades for accounting and tax purposes. However, services, such as <a href="https://cointracking.info/?ref=N525585">CoinTracking.info</a>, analyze trades from different platforms and generate reports on profit and loss, coin value, realized and unrealized gains, potential taxes, and more.
Trading Charts – TradingView and Coinigy
For those that are looking for advanced charting and technical analysis options to analyze the market, <a href="https://tradingview.go2cloud.org/aff_c?offer_id=2&aff_id=10322">TradingView</a> and <a href="https://www.coinigy.com/?r=21be0b79">Coinigy</a> are two popular platforms amongst Bitcoin traders. Both offer free and paid options.
TradingView is the most widely used by crypto traders. TradingView’s free plan gives users three indicators per chart and one indicator template. Users interested in a paid plan with more real-time data options, faster data flow, and no ads can opt for a free thirty-day trial.
Coinigy also offers a free option but paid subscribers can tap into data from 45 exchanges, use a mobile app for Android, receive SMS and email alerts, and use more than six dozen technical indicators.
After Buying Bitcoin
After buying Bitcoin, it’s up to you what you do with your newly bought cryptocurrency!
Many people opt to hold (“HODL” in the cryptocurrency community) and wait for the price of their digital asset to increase. Others choose to use Bitcoin to buy products and services. You could also send your Bitcoin to a friend or family member to help spread the word about Bitcoin.
Conclusion
Buying Bitcoin can definitely be overwhelming at first. However, with this guide, you’ll at least know the basics of picking the right Bitcoin wallet for storing your funds, using the most popular sites for buying Bitcoin, withdrawing purchased Bitcoin to a wallet, tracking your trades and the overall market, and things you can do with your newly obtained digital currency.
The post <a rel="nofollow" href="https://bullminers.eu/how-to-buy-bitcoin/">How To Buy Bitcoin</a> appeared first on <a rel="nofollow" href="https://bullminers.eu">Bull Miners</a>.
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</item>
<item>
<title>Cryptocurrency 101</title>
<link>https://bullminers.eu/cryptocurrency-101/?utm_source=rss&utm_medium=rss&utm_campaign=cryptocurrency-101</link>
<comments>https://bullminers.eu/cryptocurrency-101/#respond</comments>
<dc:creator><![CDATA[]]></dc:creator>
<pubDate>Fri, 25 Dec 2020 17:49:00 +0000</pubDate>
<category><![CDATA[Bull Miner Guide]]></category>
<guid isPermaLink="false">https://bullminers.eu/?p=7105</guid>
<description><![CDATA[Curious about cryptocurrency? Discover how this revolutionary digital token harnesses the power of cryptography, peer-to-peer networking, and decentralization. Explore the concept of proof-of-work and its impact on the world of finance. Unveil the secrets behind this cutting-edge technology and its potential for transforming the future of transactions. Dive into the world of cryptocurrency and unlock a world of possibilities!
The post <a rel="nofollow" href="https://bullminers.eu/cryptocurrency-101/">Cryptocurrency 101</a> appeared first on <a rel="nofollow" href="https://bullminers.eu">Bull Miners</a>.
]]></description>
<content:encoded><![CDATA[
What is cryptocurrency?
Cryptocurrency is a digital token that uses cryptography for chaining together digital signatures of token transfers, peer-to-peer networking between users directly and decentralization.  In some cases the proof-of-work scheme is used to create and manage the currency.  These systems work without a central repository or single administrator.
Transactions using cryptocurrencies between users are verified by a network of nodes and recorded in a public distributed ledger called a blockchain by a process known as mining.  Cryptocurrencies are created only as a reward for the payment processing work called mining.
These transactions are only reversible through an additional transaction that is also documented.
*Blockchain is a public anonymous ledger that continuously records every cryptocurrency transaction and is verified through anonymous parties.
*Blockchain for Business is a blockchain built with the ability to allow you to exchange anything of value, whether it be a house or car, documents, videos and photos.  It is also a private interaction between invited members with the correct permissions who may participate in the exchanges that are run on smart contracts, business logic imbedded in the network to reduce disputes and increase trust between parties involved.  Also in blockchain for business you may regulate who verifies the transactions and exchanges.
What is Bitcoin?
Bitcoin is the first open-source decentralized virtual currency. Developed in 2009 with the highest market capital, it uses peer-to-peer technology to operate without a central authority or banking institution. It manages transactions which issue Bitcoin, also known as mining, using the collective network. No one person or organization has total control over the entire network. The price of BTC or Bitcoin is determined by supply and demand. If the demand increases so does the value.
How are transactions processed and verified?
A transaction consists of transferred value between two cryptocurrency wallets through a blockchain.  Each wallet has a private key or seed that is used to sign transactions which provides the mathematical proof that it came from the correct owner of the wallet.
When one user initiates a transaction, the user designates each address and the amount of cryptocurrency being transferred.  Users may transfer amounts to multiple addresses in one transaction.
Once the transaction is initiated, miners process those transactions.  Paying a fee is optional by the user to those miners processing and verifying the transaction, but transactions with a higher fee will be prioritized.
What is mining?
Mining is a service done through the use of computer processing power.  Miners are the record-keepers that maintain the blockchain by consistently verifying and collecting newly broadcasted transactions through different hashing algorithms (depending on which cryptocurrency it is mining) into a group called a block.  Each block created is attached with the previous block by containing the previous block’s cryptographic hash, thus creating a blockchain.
How or where can I purchase a crypto currency?
Bitcoin, Litecoin, Ethereum and any cryptocurrency can be purchased using your credit/debit card, wire transfer or PayPal/Skrill from any exchange available online.  Many exchanges have apps that process those transactions and even downloadable apps that act as your cryptocurrency wallet.  Make sure to purchase through a reputable exchange.
You may also purchase cryptocurrencies from another user through a blockchain.
There are over 700 variations of cryptocurrencies but the top 10 in order of Market Cap are:
<ol><li>Bitcoin</li><li>Ethereum</li><li>Bitcoin Cash</li><li>Ripple</li><li>Dash</li><li>Litecoin</li><li>IOTA</li><li>NEO</li><li>Monero</li><li>NEM</li></ol>
So what can cryptocurrencies do for me?
With cryptocurrencies like Bitcoin you can make transactions of value anonymously (if you choose) without paying a bank transaction or monthly fee essentially lowering that cost for buyers and sellers and without concern for currency conversion.   This makes cryptocurrencies efficient and almost instantaneous where transaction confirmations are received anywhere in the world within 10 minutes typically, and transactions can’t be reversed once made.
There are also platforms that you can use to trade, lend and invest Bitcoin and various cryptocurrencies to create daily percentage profits.
Many companies are now accepting cryptocurrencies for services, goods and almost anything of value.
The post <a rel="nofollow" href="https://bullminers.eu/cryptocurrency-101/">Cryptocurrency 101</a> appeared first on <a rel="nofollow" href="https://bullminers.eu">Bull Miners</a>.
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<title>How to setup a controller?</title>
<link>https://bullminers.eu/how-to-setup-a-controller/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-setup-a-controller</link>
<comments>https://bullminers.eu/how-to-setup-a-controller/#respond</comments>
<dc:creator><![CDATA[]]></dc:creator>
<pubDate>Mon, 20 Jul 2020 18:09:00 +0000</pubDate>
<category><![CDATA[Bull Miner Guide]]></category>
<guid isPermaLink="false">https://bullminers.eu/?p=7126</guid>
<description><![CDATA[This guide is designed for users of the AvalonMiner 741, AvalonMiner 721 and AvalonMiner Controller including Raspberry Pi 1, 2, and 3.
The post <a rel="nofollow" href="https://bullminers.eu/how-to-setup-a-controller/">How to setup a controller?</a> appeared first on <a rel="nofollow" href="https://bullminers.eu">Bull Miners</a>.
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 This guide is designed for users of the AvalonMiner 741, AvalonMiner 721 and <a href="https://bullminers.eu/product/canaan-avalon-a1166pro-miner-81th-42w/">AvalonMiner Controller</a> including Raspberry Pi 1, 2, and 3.
We use the AvalonMiner Controller’s Firmware flashed onto a Raspberry Pi to be used as a controller which allows users to manage through a graphical user interface via the controller, multiple AvalonMiner 741 and 721 devices. One AvalonMiner Controller may manage up to 20 AvalonMiner 721 or 741 devices. The Controller interface makes managing and debugging multiple Avalon units much easier.
This brief tutorial explains how to load the AvalonMiner Controller’s Firemware into the memory card of a Raspberry Pi to complete the initial setup of the controller, and then set the controller configuration to a usable state.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/canaan-a741-808-raw-1080.jpg" alt=""/></figure>
Flash AvalonMiner Controller’s Firmware
Ready to Work
You need the following items to begin.
1. AvalonMiner Controller’s Firmware supports the following types of Raspberry Pi:<a href="https://bullminers.eu/product/canaan-avalon-a1166pro-miner-81th-42w/">AvalonMiner Controller</a>
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/avalonminer.jpg" alt=""/></figure>
Raspberry Pi 1 Model B Raspberry Pi 2 Model B Raspberry Pi 3 Model B
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/rpi.jpg" alt=""/></figure>
Raspberry Pi 1 Model B (2 USB ports)
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/rpi-2.jpg" alt=""/></figure>
Raspberry Pi 2 Model B （4 USB ports)
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/rpi3.jpg" alt=""/></figure>
Raspberry Pi 3 Model B (4 USB ports)
2. A minimum capacity of 4GB memory card is required. There is no requirement for brands, speed rating is recommended for Class 10. (Please be select type of memory card based upon your selected Raspberry Pi model)
<ul>
<li>Raspberry Pi 1 Model B using a SD card</li>
<li>Raspberry Pi 2 Model B using a Micro SD card</li>
<li>Raspberry Pi 3 Model B using a Micro SD card</li>
<li>AvalonMiner Controller using a Micro SD card</li>
</ul>
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/sd-card.jpg" alt=""/></figure>
SD Card
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/micro-card.jpg" alt=""/></figure>
Micro SD
3. We need an SD card reader. Select the type of reader depending on the type of memory card you choose. If you are using a computer with an SD card or Micro SD card slot, you still might need to prepare an external reader.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/reader.jpg" alt=""/></figure>
The reader supports both SD card and Micro SD card
4. Depending on your Raspberry Pi model, select the firmware version.
<ul>
<li>Raspberry Pi 1 Model B Firmware:</li>
<li><a href="https://canaan.io/downloads/software/avalon7/openwrt/latest/rpi1-modelb/openwrt-brcm2708-bcm2708-rpi-ext4-sdcard.img">https://canaan.io/downloads/software/avalon7/openwrt/latest/rpi1-modelb/openwrt-brcm2708-bcm2708-rpi-ext4-sdcard.img</a></li>
<li>Raspberry Pi 2 Model B Firmware:</li>
<li><a href="https://canaan.io/downloads/software/avalon7/openwrt/latest/rpi2-modelb/openwrt-brcm2708-bcm2709-rpi-2-ext4-sdcard.img">https://canaan.io/downloads/software/avalon7/openwrt/latest/rpi2-modelb/openwrt-brcm2708-bcm2709-rpi-2-ext4-sdcard.img</a></li>
<li>Raspberry Pi 3 Model B Firmware:</li>
<li><a href="https://canaan.io/downloads/software/avalon7/openwrt/latest/rpi3-modelb/openwrt-brcm2708-bcm2710-rpi-3-ext4-sdcard.img">https://canaan.io/downloads/software/avalon7/openwrt/latest/rpi3-modelb/openwrt-brcm2708-bcm2710-rpi-3-ext4-sdcard.img</a></li>
</ul>
5. Install the burning software on the computer, for example on Windows: Download link: <a href="https://sourceforge.net/projects/win32diskimager/" target="_blank" rel="noreferrer noopener">https://sourceforge.net/projects/win32diskimager/</a>
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/win32-disk-imager.png" alt=""/></figure>
Win32 disk imager
Began to burn
1.Insert the memory card into the reader, or into your internal computer card reader.
2.The card reader connected to the computer (if you are using a computer that comes with a card reader, please ignore this step)
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/reader.jpg" alt=""/></figure>
3.Open Win32 Disk Imager
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/burn-3.png" alt=""/></figure>
4. Select the memory card image that you need to burn.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/burn-4.png" alt=""/></figure>
5. Locate and select your downloaded Raspberry Pi Firmware, and then click Open.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/burn-5.png" alt=""/></figure>
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/b-5.2.png" alt=""/></figure>
6. Click Write, and then click Yes, to start writing your image.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/burn-6.png" alt=""/></figure>
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/burn-6.2.png" alt=""/></figure>
7. Wait for the process to complete.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/b7.png" alt=""/></figure>
8. When the following message is displayed, your program was successfully written.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/b8.png" alt=""/></figure>
Click the Exit.
9. If all is well and you followed the steps, the controller is initially completed.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/avalonminer.jpg" alt=""/></figure>
Configuration Controller
1. In case of Raspberry Pi 3 Model B. Connect the power to the controller, and make sure the controller and computer is configured to be connected to the same network. (Also can use the controller and the computer network cable connected directly)
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/c1.png" alt=""/></figure>
2. The default IP for the controller is 192.168.0.100. The IP address of the computer needs to be adjusted access to the controller.)
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/c2.png" alt=""/></figure>
3. Use your browser to access “192.168.0.100”, and you will see the following login screen.
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/c3.png" alt=""/></figure>
4. There is initially no password, so you can enter after click Login Overview screen.)
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/c4.png" alt=""/></figure>
5. You can click Configuration to configure your ore miners and see your pool information. For example, you can set up three pools and corresponding ore miners with the default execution priority pool1> pool2> pool3.)
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/c5.png" alt=""/></figure>
6. If you need to change the network settings for the controller, click on Network to configure, click Save & Apply, and then power down your unit, and manually restart the controller.)
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/c6.png" alt=""/></figure>
7. After the configuration, Change your computer back to the automatic acquisition of IP.
8. If the controller is properly connected to the Internet, you will see mining pools and miners setup such as AvalonMiner 741 and 721. As long as they are correctly connected via AvalonMiner USB Converter to this controller, you will see them on the overview page and see relevant information on these devices.)
<figure class="wp-block-image"><img decoding="async" src="https://blokforge.com/wp-content/uploads/2017/11/c8.png" alt=""/></figure>
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<title>How to choose best mining rig?</title>
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<dc:creator><![CDATA[]]></dc:creator>
<pubDate>Sun, 05 Apr 2020 18:03:00 +0000</pubDate>
<category><![CDATA[Bull Miner Guide]]></category>
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<description><![CDATA[Introduction If you’re going to be a cryptocurrency miner, the hardware you use is probably the most crucial piece of
The post <a rel="nofollow" href="https://bullminers.eu/how-to-choose-best-mining-rig/">How to choose best mining rig?</a> appeared first on <a rel="nofollow" href="https://bullminers.eu">Bull Miners</a>.
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<content:encoded><![CDATA[
Introduction
If you’re going to be a cryptocurrency miner, the hardware you use is probably the most crucial piece of the puzzle. Without the right mining gear, you can end up burning electricity to no effect.
Cryptocurrency mining has come a long way since its flagship implementation in Bitcoin. The practice advanced as GPUs were found to be more efficient than a CPU at the repetitive task of calculating hash values. Similarly, using GPUs to push massive amounts of data through machine learning algorithms led to breakthroughs in ML\AI, and resulted in the technique known as Deep Learning.
Today, the most powerful way to mine cryptocurrency is with an Application-Specific Integrated Circuit(ASIC). The CPU is designed to be useful for a variety of tasks, and not as fast as specific repetitive tasks as the GPU. ASIC takes this specialization even further. These units are made to operate on only one specific function, which allows them to perform incredibly well at that task. The downside is that they are entirely useless for any other purpose. Their efficiency is so great that it becomes nearly impossible to earn anything with a GPU based rig, once an ASIC is released for an algorithm.
The Right Hardware for You
When deciding between the different models of miners, there are two essential qualities that you’ll need to keep in mind. Hash Rate and Energy Consumption. Hash rate is the number of calculations that your chip can perform every second. The higher your hash rate, the better chance you have of solving the cryptographic challenge, and collecting a block reward.
Energy consumption is also essential to consider. To calculate how much a unit will cost you in electricity, multiply the number of watts it uses with the number of hours you plan to use it in a day. Take that number, divide it by 1000, and you’ve got your kilowatt hours for the day. Next, you can pull up your electricity bill and find out how much you are charged per kilowatt hour(kWh). Multiply your electric rate with your kilowatt hours, and you know your energy costs for the day.
Mining Algorithm
Another critical consideration is the algorithm you’ll be working on. As we mentioned before, ASIC miners are made to perform one task, and one task only. More of them are being developed for different algorithms all of the time. Bitmain leads the pack in the number of algorithms they’ve released ASICs for. They have units available for SHA-256, Scrypt, X11, Blake(2b), CryptoNight, Equihash, and one for Ethash is coming soon.
Currently, we carry ASIC units serving five different algorithms: SHA-256, Scrypt, X11, Blake(2b), and Tensority.
SHA-256
The original cryptocurrency hash algorithm is Bitcoin’s SHA-256. The ASICs we carry for mining this algorithm are <a href="https://bullminers.eu/product/canaan-avalon-miner-1246-85th/">Avalon 1246</a>, <a href="https://bullminers.eu/product/antminer-z15/">ANTMINER Z15</a>, and the <a href="https://bullminers.eu/product/bitmain-antminer-b7-96kh-s/">Antminer B7</a> Series. Besides Bitcoin, this algorithm can be used for mining a number of other coins, including:
BitcoinCash (BCH) DigiByte (DGB) Peercoin (PPC) Universal (UNIT) Deutsche eMark(DEM) Bytecoin (BTE)
Scrypt
Litecoin popularized using the Scrypt algorithm for cryptocurrency in 2011, and Dogecoin adopted it in 2013. Currently, we stock the <a href="https://bullminers.eu/product/bitmain-antminer-l3-504mh-s/">Antminer L3+</a> for Scrypt mining. Besides Litecoin and Dogecoin, Scrypt is also in use by the following coins and others:
GameCredits (GAME) DigiByte (DGB) Gulden(NLG) Aricoin (ARI) Linx (LINX) Florin (FLO) Einsteinium (EMC2) Verge (XVG)
X11
The X11 uses 11 different algorithms, hashes incredibly fast, and requires less processing power compared to other popular algorithms. We carry the Antminer D3 for mining X11 cryptocurrencies, including:
Dash (DASH) Cannabiscoin (CANN) Monoeci (XMCC) Paccoin ($PAC) MonetaryUnit (MUE) Prime-XI (PXI)
Blake (2B)
The Antminer A3 performing the Blake (2b) algorithm is currently only useful for mining SiaCoin. Sia produces their own ASIC as well, and when Bitmain released the Antminer A3 there was some talk of a soft fork to invalidate it. That talk has passed, however, and the Sia team decided not to change the algorithm. In part, this choice was to avoid having a monopolistic hold on ASIC production.
Tensority
The Bitmain Antminer B3 is the only miner available for Bytom cryptocurrency. This is the first mining algorithm which was made to be useful for more than just cryptocurrency. The Tensority algorithm it performs can also be used in AI deep learning. The fact that it can be used for something besides cryptocurrency is very exciting and offers additional benefit for the mining hardware. The Bytom team is very active and posts weekly updates on their progress. There are a number of reasons to suspect that this project is vastly undervalued.
Comparing Efficiency Between Different Miners
It’s important to keep in mind that the different algorithms hash at different rates. For example, Litecoin hashing is measured in MH/s where bitcoin hashing is measured in TH/s. So you can only compare rates among units that work on the same algorithm. To do so, you need to compare energy costs with the hash ratio. The simplest way to do that is by using the handy calculator at <a href="https://whattomine.com/asic">https://whattomine.com/asic</a>.
Lets use the Avalon 841 for our example. We highly recommend this model, as not only does it compete with the Bitmain S9, it also includes a 730 day manufacturer warranty that no other ASIC manufacturer comes close to. It operates at 1290w, and we’ll input 14000.0 GH/s for its hash rate. That, along with $0.10(USD/kWh) as our electric rate, results in $3.09 a day of Bitcoin mining rewards, per unit. Helpfully, whattomine gives you a comparison of potential rewards for mining other SHA-256 coins as well.
These are not the only variables for considering your prospective profits. There are mining pool fees, token growth potential, increases in hash difficulty, and others. This is plenty for comparison shopping between miners, however. The short version is that we’re looking for low power consumption and a high hash rate.
Summary
So you can see, there are a few factors in choosing the best mining rig for you. Which algorithm to work on is your first consideration. There are many other projects using SHA-256, Scrypt, and X11 than are listed on this page. Some of them will grow to become be worth a lot more than they currently are.
You’ll need to weigh the cost of the unit, along with electricity rates, hash rate, and your potential mining rewards. Of course, we hope that the value of our cryptocurrencies will grow as time goes on. That can make choosing which coins to mine an essential part of the process.
The post <a rel="nofollow" href="https://bullminers.eu/how-to-choose-best-mining-rig/">How to choose best mining rig?</a> appeared first on <a rel="nofollow" href="https://bullminers.eu">Bull Miners</a>.
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<title>What is hashing algorithm?</title>
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<dc:creator><![CDATA[]]></dc:creator>
<pubDate>Wed, 12 Feb 2020 17:56:00 +0000</pubDate>
<category><![CDATA[Bull Miner Guide]]></category>
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<description><![CDATA[Introduction Put simply the hashing algorithm is the cryptographic hash function that maps data of any size, performs a mathematical
The post <a rel="nofollow" href="https://bullminers.eu/what-is-hashing-algorithm/">What is hashing algorithm?</a> appeared first on <a rel="nofollow" href="https://bullminers.eu">Bull Miners</a>.
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Introduction
Put simply the hashing algorithm is the cryptographic hash function that maps data of any size, performs a mathematical operation on it and returns the output data of a fixed size.  This process is what is used to perform cryptographic transactions while authenticating and documenting the transaction in the blockchain.
Miners are what runs these operations with certain types of hashing algorithms that correspond with a certain coin.
Here are some of the most common hashing algorithms available:
SHA-256 Algorithm (GH/s)
SHA or “Secure Hash Algorithm” is a family of cryptographic hash functions that was published by the National Institute of Standards and Technology as a U.S. Federal Information Processing Standard.
256 refers to the specific family of hash functions that operates while using the block size of 32-bit words at a rate measured in GH/s: Gigahashes per second.  This algorithm mining can be performed on an ASIC hardware (application-specific integrated circuit).
Some current coins mined utilizing this algorithm:
<ul><li><a href="https://www.bitcoincash.org/">BitcoinCash</a> (BCH)</li><li><a href="https://bitcoin.org/en/">Bitcoin</a> (BTC)</li><li><a href="https://bitcoinsv.io/">Bitcoin SV</a> (BSV)</li><li>Universal(UNIT)</li><li>21Coin (21)</li><li>Peercoin (PPC)</li><li>Namecoin (NMC)</li><li>Unobtanium (UNO)</li><li>Betacoin (BET)</li><li>Bytecoin (BTE)</li><li>Joulecoin (XJO)</li><li>Devcoin (DVC)</li><li>Ixcoin (IXC)</li><li>Terracoin (TRC)</li></ul>
Scrypt Algorithm (KH/s)
The Scrypt Algorithm is used as a “proof-of-work” algorithm which typically is performed on GPU: graphics processing units.  Due to it’s focused use of GPU’s, miners running this algorithm will tend to have a faster processing time than CPU’s: central processing units.  Scrypt’s hash rate is measured by KH/s: Kilohashes per second.
Some current coins mined utilizing this algorithm:
<ul><li>Litecoin (LTC)</li><li>Einsteinium(EMC2)</li><li>DGB-Scrypt(DGB)</li><li>Viacoin(VIA)</li><li>Novacoin (NVC)</li><li>Verge-Scrypt(XVG)</li><li>WorldCoin (WDC)</li><li>Latium (LAT)</li><li>FeatherCoin (FRC)</li><li>Bitmark (BTM)</li><li>TagCoin (TAG)</li><li>Ekrona (KRN)</li><li>MidasCoin (MID)</li><li>DigitalCoin (DGC)</li><li>Elacoin (ELC)</li><li>Anoncoin (ANC)</li><li>PandaCoins (PND)</li><li>GoldCoin (GLD)</li></ul>
X11 Algorithm (MH/s)
The X11 hashing algorithm is another proof-of-work algorithm that is measured by MH/s: Megashashes per second.  One of the main benefits of running this algorithm is that it is one of the more energy efficient that run 30-50% cooler and require less wattage.
Some current coins mined utilizing this algorithm:
<ul><li>Dash (DASH)</li><li>CannabisCoin (CANN)</li><li>DigitalpriceClassic(DPC)</li><li>AUR-Scrypt(AUR)</li><li>StartCoin (START)</li><li>MonetaryUnit (MUE)</li><li>Karmacoin (Karma)</li><li>XCurrency (XC)</li></ul>
Cryptonight Algorithm (H/s)
The Cryptonight Algorithm is specifically designed to be suitable for ordinary PC CPU’s and can only be CPU-mined.  Unlike Scrypt, Cryptonight depends on all the previous blocks for each new block.  The hash rate is measured by H/s: Hashes per second.
Some current coins mined utilizing this algorithm:
<ul><li>Bytecoin(BCN)</li><li>Monero (XMR)</li><li>Sumokoin(SUMO)</li><li>Boolberry (BBR)</li><li>Dashcoin (DSH)</li><li>DigitalNote (XDN)</li><li>DarkNetCoin (DNC)</li><li>FantomCoin (FCN)</li><li>Pebblecoin (XPB)</li><li>Quazarcoin (QCN)</li></ul>
Dagger Hasimoto – Ethash Algorithm (MH/s)
Dagger Hashimoto is a combination of two algorithms to mine Ethereum.  Measured in MH/s: Megahashes per second.
Current coins mined utilizing this algorithm:
<ul><li>Ethereum (ETH)</li><li>Ethereum Classic (ETC)</li><li>Ubiq(UBQ)</li><li>Expanse (EXP)</li><li>Musicoin(MUSIC)</li><li>Pirl(PIRL)</li><li>Ellaism(ELLA)</li><li>Nicehash-Ethash</li></ul>
Equihash (H/s)
Another proof-of-work algorithm which is memory orientated and it’s mining capabilities is mostly determined by the amount of RAM you have.  Measured in H/s: Hashes per second.
Current coins mined utilizing this algorithm:
<ul><li>Zhash (SEC)</li><li>Nicehash-Equihash</li><li>Zencash (ZEN)</li><li>Zclassic (ZCL)</li><li>Hush (HUSH)</li><li>BitcoinGold (BTG)</li><li>Komodo (KMD)</li></ul>
Hashing Algorithm Profitability
There are quite a few resources that can be used to determine which hashing algorithm is used and the amount of profit per cryptocurrency that can be expected when mined.   This way you can maximize your profits per miner.
Here are a few that we recommend:
<a href="http://www.whattomine.com/">www.whattomine.com</a>
<a href="http://www.coinwarz.com/">www.Coinwarz.com</a>
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