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What is currency mining?
Conventionally, when governments need currency, they simply print them out. But this is not in the case of cryptocurrencies, they need to be discovered. People mine them just like they mine gold. Thus, the computers across the world compete with each other to mine the crypto currency. Let’s take a look at what’s on earth the cryptocurrency mining is?

Before we discuss the cryptocurrency mining, first consider our banking system. For example, if a person sends some amount of money to other, then what would be the proof of the transaction between both of them? Who assures the transaction has been done? For the normal banking system, it is the bank who verify such payments through the receipt and passbooks entry.

We all know that no financial authority regulates the cryptocurrencies. Then who confirms the transaction made in cryptocurrency? In such concern, the miners come to action. The role of the miners is to confirm the transactions and register them into the public ledger called Blockchain. Later the miner transfers the details to other miners so that they could validate the transactions. The first miner that validates the transaction will get the reward. The rewards attract miners and increase their numbers. The increase in miners also increases the rate of validation of transaction, which consecutively secures the payment.

Systematic Guide to mine bitcoins

1) Arrange Customize hardware

Initially, it was okay to mine bitcoins through ordinary desktop, but now mining through the simple desktop can cost more than one can earn. Thus, it would be better if you arrange a Bitcoin custom hardware for this purpose.

2) Install the Bitcoin mining software

When your device is ready, then it is the time to download and install the Bitcoin mining software. There are many available in the market you can choose any of them.
3) Decide whether to join Mining Pool or mining alone

When you join a pool, all the members in the pool share the resources and divide the rewards. On the other hand, mining alone is difficult as the competition is pretty tough. It is recommended to join a pool as it gives a quicker return.

4) Get a Bitcoin Wallet

There are two ways to setup a Bitcoin wallet – the first one is your local and the other is online. The online wallet provider that hosts your wallet cannot access it. However, it would be better if you go locally set wallet, as you will not rely on others.

5) Start your miner

Now, you can start mining the Bitcoins. Take a look at your profitability and take decision smartly.

The Final Word

The bitcoin mining has competition; it has been a beneficial venture for long period. Nevertheless, the scenario has changed with the inception of customized mining hardware. It is recommended that one should join a pool for mining such currency. Many prominent and reliable Bitcoin mining pools are available to join. One can consider Antpool, BitFury pool, BTCC, and few others as a better option.

In many ways, these three is the triumvirate of the contemporary financial world. Each one of them demonstrates an age and each one of them has its own value. Bitcoin is the most recent and contemporary currency which usually called as a cryptocurrency. On the other hand, Gold has its own value from ancient time. USD is the currency that shapes significant amount of present economy.

Without any exception, these all three has numerous positive advantages, but there is no exception in disadvantages too. Let’s take a look at the positive and negative aspect of these currencies in contrast of each other.

Gold Standard

Gold is valuable from ancient time, it is rare and that’s why precious. In the contemporary time, the value of gold is kept in the center of all valuable goods, and with this, we have gold-backed currency. The currency that has been standardized on a fixed quantity of Gold, maintains stable exchange rate. Moreover, the gold-backed currency is immune to manipulation by financial institutions like world bank, governments, etc.

Unfortunately, not all the currencies are totally standardized and backed up by the gold. There is not any effective way to verify the gold exist in sufficient amount, precisely the audits can be corruptible. There is a certain way by which it can be manipulated.

Another major disadvantage of a gold-backed currency is regarding the future. It has been estimated that in the future the precious metals including Gold will not be rare and available in large amount. Many companies like Planetary Resources possess a huge amount of fortunes and they are planning to mine asteroids.

USD

USD has significant importance in the international economic system. The currency has enough physical availability, and it can be withdrawn easily from the bank next to you. USD used to be backed by the gold, but now it is completely fiat, which is a pro as it allows the metal to availed for the commercial purpose. Moreover, USD is flexible and digitally available.

The most notable disadvantage of USD is that the power of creation is acquired by a small group. It has significant interference by the government and political disorders. For instance, take look on the civil war and comprehend the fall of the dollar, moreover, you can also see the 2008 financial crisis.

In today’s credit card society, many people like to rely on credit card payments, it is undeniable that credit card brings a lot of convenience, and help many people solve a temporary economic dilemma, so I believe most people can point out two or three advantages of a credit card, such as convenience, low-cost loans, instant cash, purchase protection, etc. But every coin has two sides, including this one. Enjoying these advantages, while we also need to bear the consequences it incurred. Today, I will share some disadvantages of a credit card, hope that can help you.

As far as I know, credit card deceptive marketing is also quite universal, maybe the people around you have been a victim, or is about to become a victim. If you do not want to become one of them, I guess that you will be interested in the following statements.

Generally speaking, in order to issue their credit card, these credit card companies usually offer some incentives. But in recent years, with the competition getting more and more intense, all kinds of marketing tactics are almost exhausted. Now let us have a look at these commonly tricks.

1. Getting cash back

Using a credit card, the promise of getting cash back is so tempting. Sure, the incentive rates may not be a lot of money, but even if you have enough money, you’ll probably find it enticing. Earning money just from making purchases, you’ll actually do it anyway.

2. Gifts and exclusive discounts

Another marketing ploys used by some credit card companies is giving presents, such as umbrellas, gift certificates, food vouchers, luggage cases and so on. There are companies that have undeniably mastered the art of subtle bribery to attract potential clients.

In addition, in order to flatter their product, these credit card companies often say their product is exclusive and incomparable, the lowest cost, to prove that their products are most affordable, they will also offer some extra discounts that can be used at different establishments.

3. Low-interest rate

Every credit card companies like to claim that we have the lowest interest rate, but in fact, we could not possibly survey all company’s interest rate, plus, their salesman are also used to speaking a lot of artful talk, so many people may be easy to be cheated.

Except the above frauds, credit card also have some obvious disadvantages. Maybe you guys have been very familiar, but please allow me to repeat it again.

Overuse

Revolving credit makes it easy to spend beyond your ability.

The risk of overcharging

Some informal deals may cause some overcharging situation, in order to ensure that you haven’t been overcharged, you may need to save your receipts and check them against your statement each month.

High-cost fees

Your purchase will suddenly become much more expensive if you carry a balance or miss a payment.

Unexpected fees

In general, you’ll pay between 2 and 4 percent just to get the cash advance; also cash advances usually carry high interest rates.

Illusory benefits

In fact, the high interest rates and annual fees associated with credit cards often outweigh the benefits received. We do not obtain any extra earnings they claimed.

Exacerbating your debt burden

Many users are using credit more than ever before. If you charge freely, you may quickly find yourself in over your head—as your balance increases, so do your monthly minimum payments.

So-called “low rates”

At first, Low rates may be an attractive option, but they last only for a limited time. When so-called low rates expires, the interest rate charged on your balance can jump dramatically.

Once you guys gained an insight into these tricks, you may not be so obsessed with the credit card payments. In recent years, compared to credit card payment, another payment way is becoming more and more popular, namely the third-party payment platform. At present, there are many people like to using Alipay, wechat pay, paypal, Epay, Perfect Money, etc. Using the third-party payment platform, do not carry any card, just use your mobile phone, you can complete all transactions. It is more convenient for us to use this new form of payment ways.

However, for these similar third-party payment platforms, we may be not easy to make a choice. From the geographical factors, Alipay and WeChat Pay seem to be more popular in China, although another platforms like Paypal, Epay, Perfect Money, etc, are aimed at the global market, they still have some typical differences. Paypal now have some good reputation, but owing to its customer-centric strategy, so many users may not like it, especially some merchants.

In contrast, Epay may be more popular, compared to the perfect money, Epay payment platform has a lower rate, as low as 1%, in addition, Epay can offer multiple transactions, such as pay online, receive money, deposit & withdraw, exchanger, virtual card, etc. Furthermore, Epay also allows you to use multiple payment options, like OKPAY, Payeer, bitcoin, Perfect Money, Webmoney, Paypal, Western Union, Wire transfer, MoneyGram, Ria Money transfer, etc.

The core business also includes the payment gateway, it is said that Epay can provide the multiple payment gateways, which are specially designed for shopping cart/ shopify/woocommerce/whmcs. Integrating with API/Super SCI is for free, it means that you can freely get one or multiple payment ways.

Epay now has more than 45,0000 registered users, fast and reliable, transparent trading environment make Epay win high praise. I believe that Epay will also become better with each passing day.

Thanks for your reply, I want to know some good platform to compare, could u recommend me some good platform?

I am newer, so I want to know more about bitcoin, I hope you guys can recommend me some good blogs or forum to learn that. Thanks in advance!

hi there! I have some bitcoins, but now I urgently need money, so I want to sell them, I just want to know which platforms will be reliable and low rate? can somebody help me? thanks!

Since many people always confuse the Epay virtual card and credit card, so today we will talk about the differences between Epay virtual card and credit card. Although both cards can be used as a method of payment, but they are different in essence. Next, I want to introduce such two kinds of payment cards from several different aspects. Please read on!

I know that may people are very familiar with the credit card, so I want to focus on the Epay virtual card, so that we can better distinguish them. Before that, I think we still need to know what's the Epay virtual card and the credit card. Please allow me to explain briefly!

What's the Epay Virtual Card and the Credit Card?
Epay Virtual Card is completely anonymous account. You can create more than one Virtual Cards to anyone. Make payments or consumption by card number and password.

And credit card is a payment card issued to users to enable the cardholder to pay a merchant for goods and services, based on the cardholder's promise to the card issuer to pay them for the amounts. The card issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.

Based on their meanings, I believe many people will be more interested in our Epay virtual card. Because compared to the credit card, Epay virtual card has some advantages, the details are as follows:


Anonymity
As mentioned above, our Epay virtual card is completely anonymous, different from the credit card's real-name system, Epay virtual card allows users to protect their privacy, meanwhile, they can normally use the virtual card to make payment or consumption.


Easy to apply for a virtual card
I believe many people currently have their own credit card, visa card or master card, but we also know if you want to apply for a credit card, the card issuer usually need us to fill in all personal information, including personal identity information, working condition, etc. But Epay virtual card is different, you do not need to provide any extra information, just click to create a virtual card, taking about 1-2 minutes, you will get a virtual card, quite simple and easy.


Do not need to worry about losing
Due to it is virtual, made of the numbers and password, so we never have to worry about losing. As long as you remember the login account and password, no matter where you can use it.


Now that we have learned about the advantages of Epay virtual cards, combined with the credit card characteristics, let us take a look at the detailed differences between the virtual card and the credit card. The details are as follows:


1. Their issuer is different. Epay virtual card is released by Epay payment platform, and credit card is usually issued by a bank.
2. Epay virtual card is anonymous, allows users to protect their personal information, different from Epay virtual card's anonymity, credit card usually uses the real-name system, in order to prevent users from forgetting to pay bills.
3. Epay virtual card is a unique card number that is generated to settle a specific transaction. There is no plastic card involved, and credit card is a plastic card, it is physical and tangible.
4. Their use range is different. Epay virtual card can receive money from Epay accounts and virtual card users. At present, mainly supports online payment and currency exchange. And credit card can allow the cardholders borrow money for payment to a merchant or as a cash advance, meanwhile, it can also act as the payment way to meet the daily consumption, such as shopping, entertainment, trading, etc.
5. The most obvious difference between Epay virtual card and credit card is their account balance. Epay Virtual card is similar to a charge card, you need to deposit your money to your Epay account first, and then you can use it. But the credit card is different from a charge card, where it requires the balance to be repaid in full each month. The credit card allows the consumers a continuing balance of debt, subject to interest being charged.


According to the above analysis, I believe that many people should basically have learned about the differences between them. Of course, if you still have any confusion, or you want to know about these two kinds of card, welcome to leave me a message, or directly visit our Epay.com.