Showing posts from March, 2022

Mark Tencaten | Learn more about Cryptocurrency Mining and its Classifications

The majority of people consider crypto mining to be nothing more than a method of manufacturing new coins. On the other hand, as explained by Mark Tencaten , Crypto mining entails validating bitcoin transactions and adding them to a shared ledger on a blockchain network. Cryptocurrency mining prevents digital currency from being spent twice on a distributed network. When a user spends cryptocurrency, the electronic ledger is updated by debiting from one account and crediting to the other account, just like with physical currencies. Only verified miners are allowed to update transactions on Bitcoin's distributed ledger. This puts an additional responsibility on miners to protect the network from double-spending. New currencies are created to reward miners for their efforts in safeguarding the network. As shared ledgers lack a centralized authority, transaction validation is dependent on the mining process. Miners are thus motivated to protect the network by participating in the tr

Mark Tencaten - Guide to become a Profitable Cryptocurrency Miner

When gold was initially discovered more than a century ago, hundreds of thousands of people moved to that area in the hope of mining gold and making money. In reality, many of them did; nevertheless, as the population of miners grew, mining became gradually more difficult. Cryptocurrency mining is its modern-day counterpart - bitcoin was launched as the world's first cryptocurrency, and the bitcoin miners benefited handsomely by being early adopters. With the growing popularity of cryptocurrencies, cryptocurrency mining has gotten increasingly complex. However, there is one significant distinction! Unlike real-world mining, bitcoin mines are never depleted. Cryptocurrency mining can still be profitable for those who are interested. Mark Tencaten , owner of NGS Group Limited, will help you understand how you too can be a part of this world. What is Bitcoin Mining? As the name implies, Bitcoin mining is the process of extracting cryptocurrency by computing complex mathematical

Mark Tencaten | Cryptocurrency Trading

  The act of investing in cryptocurrency price action through a CFD trading account, or buying and selling the currency coins through an exchange platform, is referred to as cryptocurrency trading. Contract for Difference (CFD) trading is a type of derivative that allows you to trade on crypto price changes without possessing the underlying currencies. You can go long or buy if you believe the value of a cryptocurrency will rise, or short or sell if you believe the value will fall. Both are leveraged contracts, which means you only need a small deposit (known as margin) to get complete exposure to the crypto market. Since the profit or loss is still determined based on the total size of your position, leverage magnifies both gains and losses. How does the Crypto Market work? The cryptocurrency market is decentralized, meaning they are neither issued nor supported by a central authority like a government. Instead, they're distributed across a computer network. On the other han

Mark Tencaten | $50.9 Million Spent on Crypto Trading Fees

  $50.9 Million Spent on Crypto Trading Fees The Latest Investment Aussie’s are Flocking to Escaping Rising Fees.   Australian’s have spent $50.9 million dollars in Bitcoin trading transaction fees alone with this figure expected to rise after a recent survey by Finder has revealed that an extra 3.5 million Aussie's are planning to invest in cryptocurrency this year. The standard fee for purchasing Bitcoin is around 0.6 % of the purchase price if you spend less than $10,000 on the world's best performing asset of the decade. But this depends also on what exchange you are purchasing through, with some exchanges charging as much as 3% per transaction. Keep in mind that when trading Bitcoin you will always be hit with a fee every time you buy or sell cryptocurrencies. “Bitcoin is seen by many as the new ‘digital gold’ and investors of all ages want a piece of the action. Crypto enthusiasts are typically very savvy and see fees as a waste of money,” said Graham Cooke, hea