Is It True that the Profitability of Bitcoin Mining is Declining?

When the famous cryptocurrency bitcoin emerged in 2009, no one guessed that it would reach today. The craze of cryptocurrency today is unparalleled. Recent trends from past years are proof of that. If you haven’t heard of bitcoin, you might be living under a rock. Let’s take a look at bitcoin mining for now. 

What is bitcoin mining, you may ask? It is normal if you don’t have enough information about it. It is a way to earn bitcoins in exchange for operating the process of verification to validate transactions involving bitcoin. Such transactions provide security to the cryptocurrency’s network, and in turn, give bitcoins to the miners for compensation. 

How do miners get profit?

Miners can profit if the price exceeds the cost involved in mining bitcoins. There have been recent changes in technology and mining devices. Professional mining centers with enormous computing power and the shifting price of cryptocurrency have been emerging. All of this has changed the mining scenario. 

Whether the bitcoin venture is profitable or not is decided by many factors. Let’s not dwell anymore on that. According to recent reports, the mining profitability levels of the bitcoin are on the decline after a sky-rocketed peak. 

China’s breakdown on the mining of BTC and altcoin – began in early summer and intensified in late September. It took a toll on the global hash rate. 

The rise in the profitability appeared till November, but then it declined according to the reports of ANKR price prediction

The declining trends

  • Bitcoin hash rate almost halved. With less competition from the BTC miners in China, growth was seen at the beginning of November.
  • But, from November 9 to December 22, the cash flows of bitcoin mining have reduced by 36%. There was a decline of 28% in bitcoin prices along with an increase in the mining difficulty. 
  • The mining profitability fell to the levels last seen in July. 
  • Since the end of July, the mining difficulty has been rising because the Chinese miners set up new locations for their operation. With this development came new online investments, especially in North America. 
  • The difficulty in mining a bitcoin block adjusts automatically based on the hash rate for keeping the block stable. 

  • The biggest miners have many application-specific integrated circuits (ASICs) scheduled for the year 2022. Seeing the fact that the Chinese miners are getting back where they were, the hash rate is likely to be rise again next year, according to the miners. 
  • The point discussed above means that there “super profits” witnessed in 2021 will continue to rise in the initial months of the coming year. 
  • The world’s biggest mining firms have supported the above points in many interviews, with most of them believing that the hash rate will double next year with more machines at work. 

But at last, profitability depends on the bitcoin’s price. If everything goes well in 2022, you might see the wonders of bitcoin as you have seen in the current year. 

From Bitcoin To Bitecoin – Know about them – Albert Einstein once said, “We cannot solve our problems with the same thinking we used to create them.” We can indeed guarantee the moralistic contribution of this quote to our lives, but can we ever accept it as a universal truth? The debate is about one innovation, and different mindsets that judges it on different scales.

For successful experience on crypto trading exchange at site, there is a need to learn about the regulatory frameworks. The frameworks and conditions can vary depending on the place where you are buying and selling coins on the online platform. There is a need to pay attention over it if you want to have success.

Innovation might be nuclear technology, which can be used to generate fear as well as electricity, or it might be a simple gun, which can kill as well as protect. But the question in the end is, were these innovations were considered to be problems when we created them, or did we simply turn them into one, with our unforgivable inputs of ravenousness and greed?

I now would like to shift your mind to a rather meeker creation, known as cryptocurrency. In times of impromptu recessions and inflation, a pseudonymous developer dubbed as Satoshi Nakamoto developed a currency called Bitcoin to introduce an idea to eliminate middlemen from our day-to-day money transactions. The aim here was very simple, your money is yours and no one can take a slack of it from you. That was 2009 – the year of innovation and good intentions.

Initially, Bitcoin was just a phenomenon of good and healthy business transactions. Given a certain belief, the currency got a following. In the interim, it was marketed by emerging businesses and mere speculation increased its value, from $25 to a whopping $1000, within the span of five years.

Cut to the present, 2014! We now see the same currency getting drilled from every corner. Its villainous traits are getting revealed by 1 million satirical tweets, finance blogs and Facebook posts. Countries are accepting it, regulating it, banning it, all at the same time. It is being hacked, it is being misused for money laundering, and it is being doing everything that can complement the synonyms of the word ‘illegal’.

Bitcoin’s value has dropped 40% within the mere span of a month or more. One of Itsexchanges has lost millions of dollars’ worth investments to a cyber-attack. And its investors can be currently found outside the same Bitcoin exchange, wearing a sign-board around their neck, which says “Where is our money?”

Where is investors’ money, and none the least, where is the innovation in all this? It is like people invested their hard-earned money in thin-air, wondering to multiply it and later realized that the thin-air has been stolen, from right under their nose. Hard to breathe isn’t it?

If you ask me, I call it “murder of innovation, executed by greed”. The well-intentioned Bitcoin is now a Bitecoin – a money-making machine for half a year, and a money eating bug for the rest.

What still can be done… in an ideal world?

The time is to again bring the innumerable advantages of Bitcoins to light, as it has been kept in the dark for an extensive period. These currencies can be of valuable assets in times of inflation, depressions and likewise events. The idea is to keep it away from greed and corruption, which our existing finance system has been indulged heavily into. Know that there are only a few financial regulatory authorities that decide the future of the markets, and steal your jobs and homes in the name of recession.

The Superior Method For Buying Bitcoin In The 21st Century

We cannot deny that cryptocurrency is getting great help in the whole world. It is a type of digital currency that will help you a lot and get a significant number of benefits. People can perform different types of things with their investments and transactions. If we talk about the best cryptocurrency available in the market, that is bitcoin. 

Many business tycoons, such as Elon Musk, use these currencies for transactions in their multinational companies. If you are looking for a long term investment, it is the best place. But it is also observed that people face significant difficulties in buying the correct amount of Bitcoin. Here are some tips and tricks that will help you purchase Bitcoin without any difficulty. But people must perform this activity with complete security. Other than that, they may face a significant number of difficulties in their transaction. 

Best tips to buy bitcoin

If you are also looking to spend your money buying Bitcoin, it is a very great idea. This is because Bitcoin is going to get a significant amount of success in the whole world. However, there are a lot of people that do not have any information about buying Bitcoin. If you are also one of those people, then here is the complete guide that will help you a lot. 

All you have to do is to focus on some essential tips and tricks that will help in having the best deal. If you are going to spend a good amount of money in buying Bitcoin, it is very required to make sure that you are not wasting your money. Here are some fantastic tips and tricks. 

  • If you really want to perform investment in Bitcoin, then it is very required to have such kind of platform that will provide you long term investment. Paypal is a very fantastic option that will help you a lot in this activity. People will not face any difficulty in performing long term investments with the help of it. If you want to perform any kind of transaction, then it is also possible. 

  • It has been observed a lot of times that most people also want to perform trading with the help of Bitcoin. If you also want to perform trading with the help of Bitcoin, then it is also possible. All you have to do is to perform such a kind of application that will provide the help you a lot in trading. You should buy your preferable number of Bitcoin from these kinds of apps. 
  • Another option that is available in the purchasing of Bitcoin is the interactive brokers. They can also help you in buying Bitcoin very easily and comfortably. It is indispensable for you to check out some basic things before performing this activity. 

This is all about the basic information that will help in buying Bitcoin. There are many famous personalities, such as Elon Musk, that are adapting to Bitcoin. 

What Bitcoin Wallet Should I Use Types Of Wallets Explained

What is a Bitcoin wallet?

A Bitcoin wallet is a medium of information storage that stores private keys. Contrary to a common misconception, a wallet does not store any Bitcoin. It just grants user access to a certain amount of BTC associated with the wallet.

There are many different ways to store user’s private keys. After all, it is just a string of numbers and letters. All the wallets can be categorized according to several parameters:

Connectivity to the internet (hot vs cold)

Number of different cryptocurrencies it is designed to store (single currency, multicurrency)

Exact type of the wallet (paper, web, etc.)

Hot vs cold wallets

The first way to categorize the wallets is by their connectivity to the Internet. If the wallet is connected to the Web, it is a hot wallet. On the other hand, if the wallet is not connected to the Internet, it is a cold wallet. Each of these types has its own advantages and drawbacks.

Hot wallet

Hot wallet is connected to the Internet.

Pros of a hot wallet:

The funds are easy to access from anywhere.

Funds can be sent fast, which can be useful for daytrading .

Hot wallets are normally easy to use, with an intuitive interface.

There is a large number of Bitcoin cold wallets. It means that any user will be able to find one that is compatible with his/her operating system of choice, such as iOS, Android, Windows, Mac OS or Linux.

Cons of a hot wallet:

No matter how many security layers a particular hot wallet has, it will always be compromised in terms of safety. No wallet is 100% secure, but this is especially true when talking about hot wallets.

The performance can sometimes be sluggish, because the system runs on a centralized server.

Cold wallet

Cold wallet is not connected to the Internet.

Pros of a cold wallet:

Such a wallet is much harder to exploit, because it cannot be accessed by hackers from the Internet.

Cold wallets are a perfect option for investors wanting to buy crypto and hold it for a long period of time. For these people, cold wallet is an ultimate “buy and forget” option that needs no attention or maintenance

Cons of a cold wallet:

Cold wallets are generally more expensive than hot wallets. They always are pieces of hardware or some physical mediums of information storage, such as paper

When dealing with altcoins, it is easier to find a hot wallet compatible with a particular coin than a cold wallet. This situation is especially likely to occur if the altcoin in question is still not too popular.

In short, hot wallets can be described as more convenient but less secure. In contrast, cold wallets can boast enhanced security but are more difficult to use.

It might be useful to have both wallet types. Cold wallet can be used for storing Bitcoin and/or altcoins and hot wallet for sending small amounts of cryptocurrency and trading. Users also should remember about the vulnerable nature of hot wallets and try to store big amounts of cryptocurrencies on cold wallets only.

Single currency vs multicurrency

Cryptocurrency wallets, both cold and hot, can be designed to store either one particular cryptocurrency, such as Bitcoin or Ether, or a number of different coins. Usually, there aren’t any particular differences between these two wallet types. However, single currency wallets are more likely to offer some extra options related to the currency they store. For example, single currency Bitcoin wallets are more likely to offer full Lightning Network support than multicurrency ones.

Wallet types

There are many types of cryptocurrency wallets in existence. All of them exist for some reason and are tailored to the needs of different users. Because the needs of the users are not the same, there is no answer to the question “What type of Bitcoin wallet is the best?”. Sometimes a more convenient wallet can be a better choice for a particular use case, even if it means sacrificing some amount of security. In other cases, such a tradeoff makes no sense. Different users, different needs, different recipe for a “perfect cryptocurrency wallet”.

However, some of the wallets are more secure by design, as explained previously in the article. Here is a list of the most popular crypto wallet types, with the least secure options listed in the beginning and more secure ones in the end of the list.

Web wallet (hot)

Web wallets usually (but not always) store user’s private keys on a centralized server controlled by the company providing the wallet. Centralized exchanges, such as Binance, are technically web wallets with trading functionality. They are accessible from practically any device with a web browser.


Web wallets are convenient and can be accessed from anywhere in a matter of minutes.

If a web wallet is a part of a crypto exchange, user can trade cryptocurrencies stored in it without having to make transactions.


Highly vulnerable to cyber attacks, especially if the private keys of all users are stored on the single server. In this case, the wallet (or exchange) becomes a major target for hackers. Hack one server, get hundreds of private keys – sounds tempting, doesn’t it?

Use if:

You are a daytrader that wants to react to price fluctuations quickly.

You want to keep small amounts of cryptocurrency ready for quick transactions, such as payments.

Mobile wallet (hot)

Nowadays, almost everyone is carrying their smartphone around. Blockchain wallet developers recognized that an app for mobile platforms would be a perfect tool for those wanting to pay for goods using crypto on a daily basis.

Mobile wallet is a smartphone application which stores user’s private keys. It allows to pay for different products and services using crypto – however, the merchant must be accepting cryptocurrency.

Bitcoin mobile wallets cannot run a full Bitcoin client on a smartphone because of the memory limitations. Instead, such wallets use something called simplified payment verification (SPV). This is a less secure solution, but one that is at least possible to implement on a phone.


Mobile wallets can provide extra functionality, such as NFC support. Of course, the features only work if they are supported by smartphone.


An app can contain malware, especially when downloading from unofficial sources.

You can lose all the cryptocurrency if the phone gets stolen, for example.

Use if:

You want to use cryptocurrency for daily purchases.

Desktop wallet (hot)

This type of wallet is a computer program that stores user’s private keys. The fact that the keys are not stored on a server makes desktop wallets more secure than mobile and web ones. However, this type of wallet is still considered “hot”, because Bitcoin or any other cryptocurrency type gets stored on a device with Internet access.

Still, compared to the other types of hot wallets, desktop cryptocurrency wallets allow for a greater control of the private keys. There is a wide selection of desktop wallets, both open-source (which guarantees that there are no backdoors) and closed source.


Wide choice of wallets with emphasis on different features. There are, for example, privacy-focused or security-focused desktop wallets.


It is still a software piece, which might contain malware if it is downloaded from unofficial sources.

Use if:

You are frequently trading but do not want to keep your private keys on a third-party server.

Paper wallet (cold)

Paper wallet is, well, a piece of paper with public and private keys printed on it.

In order to create a paper wallet, user must use services like BitAddress, which generate public and private keys. Important: only choose services that generate private keys offline, and turn off the Internet access before starting the key generating process. To make sure that your computer is entirely secure, it is advisable to download and boot live version of Ubuntu (which is completely free!). One more safety precaution is to make sure you use printer that is not connected to the network.

The end result is a document with a QR code printed on it.

You should also remember that the paper can be stolen or physically damaged, so make sure you protect it accordingly. Usually, paper wallet users protect them by putting into sealed plastic bags or laminating them. Also, it is wise to store the wallet in a safe place.


The wallet itself cannot possibly be hacked, because it is just a piece of paper.


Security can be compromised during the creation of the wallet or importing it into the software when making transactions.

Paper is not durable, it can be easily damaged by the water, sun etc. if not protected properly.

Use if:

You want to buy crypto once and store it for a long time without worrying about hackers.

Hardware wallet (cold)

A hardware wallet is an electronic device designed solely for storing user’s private keys. As for the time of publishing, there have been no cases of cryptocurrency stolen from hardware wallets. This makes this type of wallet one of the most secure ones out there. In fact, it is even safer than paper wallet, because a paper wallet has to be imported to software eventually.

Typically, hardware wallet is a gadget that resembles a USB stick that has one or several buttons. Some of the wallets have an in-built screen which can display vital information, making them even more secure. When making a transaction, the wallet has to be connected to a device with Internet access, such as a PC or a mobile phone. Usually this is done with a USB cable, or, in some cases, with Bluetooth connection.


  • Easy to use.
  • Highly secure.


Hardware wallets are possibly the most expensive option of storing cryptocurrencies. The cost of devices ranges from several tens to several hundreds USD.

When buying a hardware wallet, user has to be extremely careful. Always buy the wallet from the official marketplace and never from websites like eBay.

Use if:

You want your cryptocurrency holdings to be as secure as possible.

Wonder which hardware wallet is the best? Find out in our guide!

Other options

Physical Bitcoin

Physical Bitcoin is a coin-shaped or a credit card-shaped object that contains public key and a private key under a peelable layer. Once the layer is peeled, both keys can be seen, but the object itself loses all its value.

In the last few years, companies producing physical Bitcoins have encountered regulatory problems. In some countries such a type of cryptocurrency wallet might be considered counterfeit money, making it not advisable to use one.

Smartphone with integrated hardware wallet

A few years ago various startups, such as Sirin Labs, started to produce smartphones with in-built hardware wallets. Sirin Labs’ smartphone, Finney, has a second screen and extra processing units dedicated solely to storing and sending cryptocurrencies. The company claims that its solution is highly secure.

However, it remains unclear why would anyone buy such a smartphone. Smartphones with integrated hardware wallet are generally more expensive and bulky than comparable “ordinary” smartphones. Finney phone, for instance, costs 1000 USD. Therefore, for ordinary users, it might be more logical to buy a “normal” smartphone and a hardware wallet (and have some money to spare).

Recently, large smartphone manufacturers, such as Samsung, have joined this trend and now allow users to store cryptocurrency on the smartphone out-of-the-box. However, this kind of solution is less secure than the smartphones with additional memory chip and processing unit dedicated solely to storing crypto and processing transactions.

The round-up

Here are the most important things you should remember:

Bitcoin wallet stores your private and public keys, not the coins. The coins themselves are always stored in the blockchain. Private key just gives you access to them.

There are single currency and multicurrency wallets out there.

It makes sense to choose wallet type depending on your particular use scenario

Cold wallets are generally safer, hot wallets – more convenient and easier to access from anywhere.

It is better to steer clear of Physical Bitcoin and analyze whether the smartphone with in-built hard wallet is worth it.

We hope you enjoyed the article. If you found it helpful, feel free to share it and join our community and digest!

Understand The Bitkingfx Project Should You Invest In Bitkingfx

The world of cryptocurrency is full of projects to invest in, and with so many to choose from, it can be hard to make a decision.

So, what have I got in store for you today?

In this guide, I am going to talk about BitkingFx, the pros and cons of BitkingFx investment, and how to invest in BitkingFx. And by the end of this guide, you’ll have a greater understanding of BitkingFx — and you will be able to answer the question “Is BitkingFx worth buying?”.

The Begin of BitkingFx

The idea of BitkingFx was first proposed in late 2016 by Edward Graham, an expert in computer technology who realized the apparent shift of finance towards Fintech 4.0. With a vision towards a new, transparent, and efficient financial market, Graham decided to establish BitkingFx and attract leading experts in this field. The core BitkingFx team includes Edward Graham, Harley Davis, Ken Harrison, Lizzie Stevens, and Harris Butler.

In early 2019, they began developing BitkingFx. Since then, the BitkingFx team has made many improvements.

What Is BitkingFx?

BitkingFx is an investment fund that is invested in blockchain technology. Their vision is to create a blockchain ecosystem that sustainably creates value.

Bitcoin uses a technology called blockchain specifically for conducting monetary transactions – it’s a straight currency. BitkingFx uses blockchain technology to allow the creation of applications that can be executed in the cloud, can be protected from manipulation, and much more (some stuff getting too technical for me here). However, a by-product of this is that BitkingFx uses a token called BTK, which is like Bitcoin, to transact. This is the monetary value portion of BitkingFx.

Is BitkingFx a safe investment?

All investments involve some kind of risk. The typical investor’s advice – only invest what you can afford to – applies just as much to cryptocurrency as to traditional investing, such as with gold, oil, or stocks. BitkingFx and other digital assets are still vulnerable to stock market performance, even if they are less volatile than they used to be.

Nonetheless, BitkingFx’s usefulness in creating a blockchain ecosystem, along with the fact that many applications are based on the BitkingFx chain, means that BitkingFx could be a wise investment in the long run when the crypto market has had time to mature.

BitkingFx investment trust

A trustworthy crypto exchange will empower its users by providing education materials, webinars, demos, and trading signals. The Bitking Academy, which helps clients on their journey from beginner traders to crypto market experts, is backed up by a helpful support team and a fully functional demo program to make sure users have everything they need to manage their investment successfully.

BitkingFx Investment Fund invests in potential areas including:

• Online money gateway with BTK Fiat Gateway

• Online betting game with Online Casino

• Financial investment platform with Binary Option Exchange

• E-commerce blockchain with E-Commerce

• Thousands of classes provide investment knowledge with Academi BTK

• Artificial intelligence supports trade with BitTrade AI.

Because of its unique abilities, BitkingFx has attracted all types of attention – from finance to betting, to investors, software developers, hardware manufacturers, and more.

I’ll assume BitkingFx will be one of the coins you’re most interested in throwing your money in to. But that comes with good reason — a project that is rated as the unicorn of 2020 with strong development potential and exceptional leadership.