Bitcoin-Board.com – Bitcoin Mining and Trading Blog
Bitcoin-Board.com is your place for anything related to bitcoin mining or bitcoin trading. We also cover bitcoin news and other types of analysis. This blog also serves as a place for people who are new to bitcoin mining or bitcoin trading to learn more about it and how to utilize the benefits of both practices.
Here at bitcoin-board.com, we believe that honesty is one of the things that is missing from the bitcoin and cryptocurrency fields. We understand that bitcoin has had quite a lot of scams and malicious events that have happened in the past and we want to help users understand that even in the “wild west” of bitcoin, trust can still be had in certain companies and organizations. We know that there are plenty of terrible things that mining companies have done, such as conducting ponzi schemes and/or just running with customer money, but there still are good companies out there. The same goes with bitcoin trading. Bitcoin trading exists on certain bitcoin exchanges and we all know the history of Mt. Gox. Mt. Gox was the largest bitcoin exchange that essentially ran on a fractional reserve (where they didnt have the funds/bitcoin to cover the actual trades) and it collapsed, along with 700,000 bitcoins.
We understand that there can be a lot of hesitation when you are unsure of where you should trade or if you should buy a certain type of miner. This blog serves as a home for the trustworthy. We also will explain how to do some basic things to secure your bitcoins to the best of your ability.
Best Practices for trading bitcoins
The best practices for trading bitcoins is to choose an exchange that is reputable. There are quite a lot of exchanges that exist today and so far we feel that the following exchanges are to be trusted. Never store bitcoins/cryptocurrency on exchanges unless you are trading them and when you are done, remove them from the exchange to an encrypted wallet or on cold storage.
These exchange are generally the safest to trade at. However, pay attention to the bitcoin news and if there are any signs of malicious activity, remove your bitcoins immediately!
Best Practices for Bitcoin Mining
Bitcoin mining is extremely dynamic and is currently becoming very very centralized. The only entities that profit from bitcoin mining are the mining equipment manufacturers and very rich people who have private data centers designed to house millions of dollars worth of bitcoin mining equipment. Mining is not a profitable and it is generally better to just buy and hold bitcoins instead. However, if you do want to buy bitcoin mining equipment from a manufacturer, you can trust the following two companies.
Remmeber, there is no such thing as a sure thing and stay away from cloud mining, unless you can trade the mining contracts, like a Cex.IO