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Gig Economy:Turning Skills into Cash
The gig economy has become one of the most transformative economic movements in recent years. Whether you’re a freelancer, an independent contractor, or someone simply looking for a side hustle, the gig economy provides opportunities to turn your skills into cash. In this article, we will delve deep into the concept of the gig economy, how it works, the benefits, and how you can leverage your skills to succeed in this booming sector.

What is the Gig Economy?

The gig economy refers to a labor market characterized by the prevalence of short-term contracts or freelance work rather than permanent jobs. It is built on the idea of temporary, flexible jobs often facilitated by digital platforms that connect businesses with skilled workers. This could range from freelance writing, ride-sharing, or even short-term consulting engagements.

Unlike traditional employment, where workers have long-term, stable contracts, gig economy workers typically work as independent contractors. They are responsible for finding their own clients, setting their rates, and managing their schedule. Popular gig economy platforms include Uber, Fiverr, Upwork, TaskRabbit, and many others that allow skilled individuals to offer their services to a global market.

Why is the Gig Economy Growing?

Several factors have contributed to the rise of the gig economy, making it an attractive option for both workers and businesses alike:
1. Technological Advancements: The proliferation of digital platforms has made it easier for workers to find gigs and for businesses to hire talent from a global pool. Apps and websites have revolutionized industries and created opportunities for new forms of work.
2. Flexibility: The gig economy provides workers with the flexibility to choose their own working hours, work from home, and pursue multiple streams of income simultaneously. This makes it especially appealing to individuals seeking a better work-life balance.
3. Skill-Based Economy: As industries evolve, businesses increasingly need specialized skills. The gig economy makes it easier for workers to monetize their expertise by offering niche services directly to clients.
4. Rise of the Freelance Mindset: Many people are moving away from traditional 9-to-5 jobs, preferring the independence and autonomy that come with freelancing. The gig economy gives individuals control over their career, allowing them to choose what projects to take on and how to grow their skill set.
gig economy

Turning Your Skills into Cash: How to Start in the Gig Economy

If you’re ready to start turning your skills into cash in the gig economy, here are some actionable steps to guide you through the process:

1. Identify Your Marketable Skills

The first step to succeeding in the gig economy is identifying what skills you can monetize. Your skills can range from technical expertise (like programming or web development) to creative abilities (such as writing, design, or photography) to personal services (like tutoring, fitness coaching, or pet-sitting).

Take stock of what you’re good at, what you enjoy doing, and where you have experience. Some of the most popular gig economy categories include:
- Writing and Content Creation: Bloggers, copywriters, and content creators are in demand as businesses seek to establish their online presence.
- Web Development and Design: Technical expertise in web development, app development, or design is highly marketable in the digital space.
- Graphic Design and Video Production: Visual media is crucial for marketing campaigns, making graphic designers and video editors essential for companies seeking to stand out.
- Marketing and Social Media Management: Businesses need social media managers, SEO experts, and digital marketers to help them grow their online presence.
- Consulting and Coaching: Professionals with years of experience in any industry can offer consulting or coaching services to businesses and individuals looking to improve their operations.
- Personal Services: Services such as babysitting, tutoring, or fitness coaching are in high demand as more people seek help in their day-to-day lives.
2. Find the Right Gig Platforms

Once you’ve identified your skills, it’s time to find the right platform to connect you with potential clients. There are countless platforms designed to serve different industries and niches. Here are a few examples:
- Upwork: A well-known platform for freelancers in fields like writing, design, development, marketing, and customer service.
- Fiverr: A marketplace for freelancers to offer services starting at $5, catering to a wide range of industries from design to tech.
- Toptal: A high-end platform for top-tier freelancers, especially for software developers, designers, and finance experts.
- TaskRabbit: A platform for offering hands-on services like furniture assembly, moving assistance, cleaning, and other local tasks.
- Uber, Lyft, and DoorDash: If you’re into driving, food delivery, or ridesharing, these apps allow you to monetize your time and car.
Choosing the right platform depends on your skill set and target market. Some platforms specialize in creative and digital work, while others cater to physical services or labor.

3. Set Your Rates

Setting your rates can be one of the most challenging aspects of entering the gig economy. You want to strike the right balance between pricing yourself competitively and ensuring that you’re valuing your time and expertise.

To determine your rates:
- Research industry standards for your skill set.
- Consider your level of experience and the complexity of the work.
- Be clear on how much you need to earn per hour or project to meet your financial goals.
- Don’t undervalue your services, but also don’t price yourself out of the market.
Platforms like Fiverr or Upwork allow you to adjust your rates based on experience and demand, so start somewhere reasonable and increase your prices as you gain credibility and a client base.

4. Build a Strong Online Presence

To attract clients in the gig economy, you need to create a strong personal brand. This involves building an online presence where potential clients can discover your work, learn more about you, and contact you for services.

Here are some ways to build your online presence:
- Create a Portfolio: Having a professional portfolio website can make a significant difference. Showcase examples of your work, highlight your skills, and offer client testimonials.
- Optimize Your Profiles: Whether you’re on Fiverr, Upwork, or LinkedIn, ensure your profiles are well-crafted with a clear description of your skills, past projects, and value proposition.
- Leverage Social Media: Use social platforms like Instagram, Twitter, and LinkedIn to share your work, engage with potential clients, and build your reputation.
- Ask for Testimonials and Reviews: As you complete more gigs, ask satisfied clients for reviews and testimonials. Positive feedback can significantly boost your credibility and attract new clients.
5. Manage Your Time and Finances

One of the benefits of the gig economy is the flexibility it offers. However, with that flexibility comes the responsibility of managing your time and finances effectively.
- Time Management: Use tools like Trello, Asana, or Google Calendar to organize and track your projects and deadlines.
- Financial Management: Set aside money for taxes, and be mindful of business expenses. You may want to invest in accounting software or hire a professional to help manage your finances as your earnings grow.
6. Continuously Upgrade Your Skills

The gig economy is fast-paced and competitive, which means you must keep learning and improving your skills. Continuous learning will help you stay relevant and in demand. Enroll in online courses, attend workshops, and participate in webinars to stay ahead in your field.

Benefits of the Gig Economy

The gig economy offers a variety of benefits for workers and businesses alike:
1. Flexibility and Autonomy: You can choose your own work hours, work from anywhere, and select the projects that interest you.
2. Multiple Income Streams: Gig workers can juggle multiple gigs at once, allowing them to diversify their income and reduce dependency on one source.
3. Low Overhead Costs: Many gig economy jobs do not require significant investment upfront, especially in industries like writing, design, or tech development.
4. Increased Earning Potential: Depending on your skill set and the demand for your services, you have the potential to earn more than you would in a traditional 9-to-5 job.
Challenges of the Gig Economy

While the gig economy offers numerous advantages, it also comes with challenges:
1. Income Instability: Freelancers often face fluctuating income, depending on demand and the number of projects they take on.
2. Lack of Benefits: Unlike traditional employment, gig workers typically don’t have access to health insurance, retirement plans, or paid time off.
3. Job Security: Gig workers may experience periods of downtime between projects and can face competition from others in their field.
Conclusion

The gig economy offers countless opportunities for individuals to turn their skills into cash. Whether you’re looking for a side hustle or a full-time career, the gig economy allows you to be your own boss, set your own rates, and work on your own terms. With the right skills, determination, and a strategic approach, you can tap into this growing market and achieve financial success.
January 8, 2025
Empowering Financially Capable Women
In recent years, there has been a growing focus on promoting gender equality across various sectors, including finance. The empowerment of women in finance is not just about achieving social justice; it’s also about unlocking immense economic potential that can transform global markets, foster sustainable growth, and bring about broader societal benefits. Financially capable women are pivotal to shaping the future of global finance, and their inclusion in the financial sector is more important than ever.

In this article, we explore the significance of empowering women financially, the barriers they face, and the transformative impact that their economic independence can have on the global financial landscape.

1. The Gender Gap in Financial Inclusion

Despite significant advancements in gender equality over the past few decades, the financial sector still experiences a notable gender gap. According to the World Bank, nearly 1.7 billion adults globally remain unbanked, with women making up a larger portion of this figure. In many regions, women face challenges in accessing financial services, such as bank accounts, loans, or insurance, due to cultural norms, discriminatory practices, or lack of financial literacy.

However, by empowering women with financial knowledge and access to financial services, the world can harness a significant economic force. Financial inclusion for women opens up a world of opportunities, from enabling them to start businesses, to providing them with the tools to save for the future, and to enhance their personal and familial well-being. When women gain access to financial services, they become agents of change, not only in their households but also within their communities and economies.

2. The Role of Financial Literacy in Women’s Empowerment

Financial literacy is one of the most critical factors in empowering women financially. Many women, especially in developing countries, lack the skills and knowledge to navigate the complex financial systems that govern modern economies. This financial illiteracy limits their ability to make informed decisions, manage their finances effectively, and achieve long-term financial security.

Improving financial literacy among women can create a ripple effect of positive outcomes. When women understand budgeting, savings, investing, and financial planning, they become more confident in their financial decisions. They can build wealth, prepare for emergencies, and create financial stability for themselves and their families.

Moreover, women with financial literacy are better equipped to take advantage of investment opportunities, whether in the stock market, real estate, or other forms of wealth-building strategies. Financially empowered women can take greater control of their economic futures and, in doing so, contribute to the growth of the global economy.

3. Financial Independence and Economic Impact

Financial independence is crucial for women to break free from poverty and inequality. It enables women to pursue their personal aspirations, support their families, and make autonomous decisions about their lives. Financially independent women are more likely to invest in their education, health, and businesses, which ultimately strengthens economies and promotes social mobility.

The economic impact of empowering financially capable women cannot be overstated. According to McKinsey & Company, if women were to participate in the economy on the same level as men, global GDP could increase by $28 trillion by 2025. This would represent a 26% increase in global economic output, and a large portion of this growth would come from financial inclusion and economic participation by women.

Furthermore, when women are financially empowered, they tend to reinvest their earnings back into their families and communities, prioritizing education, healthcare, and social welfare. This, in turn, creates a cycle of development that benefits future generations and strengthens societal resilience.

4. Challenges Facing Women in Finance

While progress has been made in advancing women’s participation in finance, numerous barriers still prevent women from reaching their full economic potential. Some of the most significant challenges include:
- Access to Capital: Women entrepreneurs often face difficulties in securing loans or investment funding. Studies show that women are less likely to receive funding from banks or venture capitalists, largely due to unconscious bias and a lack of women in leadership positions in financial institutions.
- Cultural and Societal Norms: In many parts of the world, women are expected to focus primarily on household duties and caregiving, with limited opportunities for financial education or career advancement. In some cultures, women may be discouraged from engaging in financial decision-making or owning property.
- Gender Bias in Financial Services: The financial industry has been historically male-dominated, and women may face challenges in accessing financial advice, products, and services tailored to their needs. Many financial institutions may also fail to consider the specific challenges that women face in their financial journeys, such as career breaks for child-rearing or unequal wage disparities.
- Workplace Inequality: Women are underrepresented in leadership roles in finance and other high-paying sectors. This lack of representation limits their ability to influence financial policies and create more inclusive practices that benefit women as a whole.
5. The Role of Technology in Empowering Women

The rise of fintech (financial technology) has been a game-changer for empowering women in finance. Technology has the potential to level the playing field by providing women with access to financial services, tools, and resources that were once out of reach. Mobile banking, digital wallets, peer-to-peer lending platforms, and microfinance initiatives are just a few examples of how technology is breaking down barriers for women in finance.

For instance, mobile money platforms like M-Pesa in Kenya have enabled millions of women to access financial services through their mobile phones, even in remote areas. These platforms allow women to send and receive money, pay bills, and save without needing to visit a physical bank, thus eliminating geographical and logistical barriers.

Additionally, online investment platforms and robo-advisors are democratizing investment opportunities, allowing women to build wealth and make informed financial decisions without the need for a traditional financial advisor. This digital transformation is helping to close the gender gap in financial services and giving women the tools to become more financially independent.

6. Financial Empowerment Programs and Initiatives

A growing number of organizations and financial institutions are recognizing the importance of empowering women financially. Several initiatives and programs are being launched to help women gain financial knowledge, access funding, and build businesses:
- Financial Literacy Programs: Numerous NGOs, banks, and fintech companies are offering financial literacy courses and workshops targeted at women. These programs are designed to teach women how to budget, save, invest, and plan for their financial futures.
- Women-Focused Investment Funds: Some investment funds focus specifically on supporting women-led businesses, offering them access to capital that would otherwise be difficult to secure. These funds aim to bridge the financing gap for female entrepreneurs and promote gender equality in the business world.
- Mentorship and Networking Opportunities: Women’s leadership programs and networks provide a platform for women in finance to connect, share experiences, and mentor one another. These networks help to foster collaboration and empower women to take on leadership roles in finance.
7. The Future of Global Finance: Women at the Helm

The future of global finance is undoubtedly brighter with the inclusion and empowerment of women. As more women gain financial education, access to capital, and career opportunities in finance, we can expect a more equitable, innovative, and resilient financial system. Gender diversity in leadership positions will bring diverse perspectives, improve decision-making, and drive more inclusive economic growth.

Moreover, empowering women financially is not only a moral imperative but also a strategic move that can significantly contribute to global economic development. As we continue to break down the barriers that prevent women from participating fully in the financial world, we move closer to a future where everyone, regardless of gender, can unlock their full economic potential.

In conclusion, empowering financially capable women is not just about equality—it’s about harnessing the full economic power of half the world’s population. The future of global finance lies in creating systems, policies, and cultures that support and uplift women, ensuring they can lead, innovate, and shape the financial landscape for generations to come.
January 8, 2025
Are bitcoins the new gold? What you need to know in 2025

Over the last 10 years, the financial industry has been turned on its head with the rise of cryptocurrencies and its impact on traditional banking systems. Bitcoins, known as “digital gold” is one of the most talked-about digital assets. As we enter 2025, the question is: Are Bitcoins the new gold? The similarities and differences between Bitcoin and gold, its evolution, and its potential as a store of value in today’s fast-paced financial world will all be covered in this in-depth guide.

Bitcoin’s rise: from a whitepaper to the world’s leading virtual currency

The journey of Bitcoin, the world’s first cryptocurrency, started in 2008 with the release of a whitepaper by Bitcoin’s creator—an anonymous entity or group operating under the pseudonym Satoshi Nakamoto. Bitcoin was designed to challenge the traditional banking model by eliminating intermediaries and being a decentralized, peer-to-peer financial system. That was particularly relevant after the global financial crisis, as it proposed an alternative monetary system that was resistant to central authority control and inflationary policies.

Like everything new, Bitcoins were initially viewed with a great deal of skepticism. Many self-proclaimed financial gurus, as well as financial experts and institutions, saw Bitcoin more as a technological niche experiment with no practical application. A gimmick, so to speak. But over time, the Bitcoin system gained credibility, especially among technology enthusiasts, free thinkers and those who saw it as a hedge against the insecure centralized financial institutions and the World Bank. Its decentralized nature and underlying blockchain technology, transparency and immutability made it an attractive option for those who wanted to be sovereign in their financial transactions.

But the hype continued and, as its popularity grew, the price of Bitcoins fluctuated wildly. This attracted investors and speculators. The secret recipe? The cryptocurrency’s limited supply – the upper limit is 21 million coins – became one of its most important features and is therefore often compared to gold. Why, you ask? Both are scarce, difficult to “mine” and have historically been used as a store of value in times of economic uncertainty. Bitcoin’s appeal as digital gold has been amplified in recent years by economic downturns, currency devaluations and geopolitical crises. In addition, many institutional investors have begun to include Bitcoin in their portfolios as a hedge against inflation.

Bitcoin’s market value exceeded that of conventional commodities such as gold as early as 2015. By 2025, it had even become the leading cryptocurrency. This stable development has strengthened Bitcoin’s position as a financial asset, which is now recognized as an essential part of the modern financial system and is no longer written off as a speculative bubble. It is hard to believe: governments, financial institutions and large companies have also started to include Bitcoin in their business. Some countries have even adopted it as their official currency, such as El Salvador.

Aside from regulatory challenges and debates about the energy consumption of Bitcoin mining and its scalability, Bitcoin continues to evolve with advances such as layer-two solutions (e.g. the Lightning Network) that improve transaction speed and efficiency.

Continue reading: Full guide on how to invest in Bitcoins

Why are Bitcoins compared to gold?

1. Limited supply: A major commonality

Even our grandparents knew it: for centuries, gold has been traded as a rare resource and therefore has a high value. Also, its extraction is becoming harder. In the same way, Bitcoin’s total supply is capped at 21 million coins and is resistant to inflationary pressures from fiat currencies and central banks. As with the precious metal gold, the scarcity of Bitcoin is an important factor in its attractiveness as a store of value.

The Bitcoin code is programmed to produce a fixed supply of 21 million coins. This means that no more coins can be mined beyond this limit. This gives Bitcoin an advantage over conventional currencies. This is because these can be printed by central banks without restrictions. Just like gold, which has increased in value over time due to its scarcity, the limited supply of Bitcoin could drive its value even higher if global demand increases at the same time.

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2. Bitcoin as a hedge against inflation

Throughout history, investors have turned to gold as a proven hedge against inflation, especially during economic downturns and monetary instability. This is because when fiat currencies lose purchasing power due to inflation, gold’s inherent value and scarcity help preserve wealth. Similar views have been held of Bitcoin in recent years, with many considering it a contemporary substitute for gold. Quantitative easing, or increasing the money supply to promote economic growth, is a practice used by governments worldwide. While this works on the short run, it leads to inflation and currency devaluation in the long term.

The Bitcoin network, as the leader of digital currencies, on the other hand, is a decentralized network with a fixed supply of 21 million coins, making it inherently resistant to inflationary pressures. Unlike fiat currencies, which can be printed by central banks at will, Bitcoin’s scarcity is programmed into the protocol. It clearly remains a deflationary asset.

So it is no surprise that Bitcoins have been nicknamed “digital gold”. It shares several key aspects with the precious metal. Both Bitcoin and gold are scarce, fungible, and difficult to counterfeit, making them stores of value. As a result, many investors see Bitcoin as a safe haven asset, especially during financial uncertainty or geopolitical instability. This shift in perception has led institutional investors, hedge funds, and even governments to allocate a portion of their funds to Bitcoin. And by that, further cementing its role as a hedge against inflation.

3. Decentralization and security

As we all know, gold is stored in vaults. Either by any central bank or private institutions and requires physical security. Bitcoin, on the other hand, operates on a decentralized network secured by blockchain technology. That said, it becomes clear that Bitcoin is not tied to any country or institution. Making it resistant to government control or manipulation. In addition Bitcoin’s security is ensured through cryptographic techniques, which makes it an attractive alternative for those looking for a store of value. Its decentralization allows users to transact freely without interference from governments or financial institutions, further enhancing its appeal.

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Bitcoin blockchain: Differences between Bitcoins and gold

1. Volatility

Although Bitcoin and gold share many similarities, volatility is one major difference. The price of bitcoin has fluctuated wildly, often seeing daily gains and losses of 10% or more. Gold, on the other hand, tends to fluctuate in smaller increments and has lower volatility. It becomes clear that there are pros and cons to this volatility: On one hand, it gives traders the opportunity to profit from price movements. But for those looking for consistency and predictability, a highly volatile digital currency can be a major turn-off. Bitcoin’s volatility makes it more attractive to speculative investors but riskier for long-term holders, whereas gold’s price movements are less unpredictable.

2. Physical vs digital wallets

Gold is a physical asset that can be held and stored in vaults or safes. We can currently (as of February 2025) see how insecure this can be for governments from the Fort Knox investigations in the USA. Donald Trump’s new term in office as president has announced that the gold reserves will be Bitcoins, however, is a digital asset that exists only in the digital realm. This difference brings pros and cons. Bitcoin can be easily transferred across borders, stored on hardware wallets, and used for online transactions, offering unparalleled liquidity. But it also carries risks such as cyber attacks and loss of private keys, which can result in loss of access to one’s bitcoin holdings. Gold, and its physical nature provide a sense of security that digital assets like bitcoin cannot replicate. For those looking for a more traditional approach to wealth preservation, gold remains the asset of choice.

3. Adoption and recognition

Gold has been a store of value for thousands of years. Its acceptance is universal and has been part of the global monetary system for centuries. Bitcoin as the first cryptocurrency, on the other hand, is a relatively new asset, and while its adoption has grown exponentially, it still faces skepticism from some quarters. Governments and financial institutions are still working on how to regulate bitcoin, and many investors are wary of its long-term viability.

Despite this, bitcoin’s growing adoption by both retail and institutional investors has given it more legitimacy as a store of value. The growing number of bitcoin ETFs, bitcoin future and its integration with payment systems like PayPal and Square means bitcoin is becoming a mainstream asset.

Bitcoin as digital gold in 2025 and beyond

We can already see it in this young year 2025: Bitcoins will continue to develop and be traded as a store of value. It is and will remain an alternative to traditional safe investments such as gold. Its scarcity, decentralization, and insensitivity to monetary manipulation make it more attractive to anyone with access to the internet. Institutions and even some governments seeking financial security in uncertain times are also investing in Bitcoin. After all, global economic uncertainties such as inflation, currency devaluation, and geopolitical instability still exist. That once again highlights the role of Bitcoin as “digital gold” in our current times.

In addition, the expansion of the money supply by central banks worldwide has fueled concerns about the debasement of fiat currencies, further increasing the appeal of bitcoin as a hedge against inflation. This is because unlike traditional assets, which are controlled by central authorities and subject to political change, bitcoin operates on a decentralized blockchain that ensures transparency, security, and resistance to censorship.

In the past, this has already led major financial players to integrate bitcoin into their portfolios as a long-term wealth preservation strategy. Despite these advantages, there are still challenges and uncertainties. Bitcoin’s price volatility is a concern, making it less predictable than gold. Regulatory scrutiny in different jurisdictions will also shape the future of bitcoin adoption. Technological risks such as scalability limitations and cybersecurity threats also need to be addressed for bitcoin to achieve widespread stability and mainstream trust.

Bitcoin’s long-term place in the global financial system will primarily depend on ongoing innovation, regulatory changes, and the macroeconomic environment, even though it has the potential to displace gold as the store of value.

Conclusion: Should you invest in Bitcoins in 2025?

In short, yes! As we look ahead to 2025, many investors are still weighing the pros and cons of Bitcoins. While it can outperform gold as a store of value, its volatility and risks can’t be ignored. Bitcoin’s unique advantages, such as scarcity, decentralization, and resistance to inflation, make it an attractive investment for those looking for a digital alternative to gold. If you’re considering bitcoin as a hedge against economic instability, make sure to do your research, understand the risks involved, and only invest what you can afford to lose. As with any investment, diversification is key to managing risk.

Bitcoin has earned its place as a digital substitute for gold by providing many of the same benefits, including scarcity and inflation protection. But it differs from gold in many ways due to its volatility, technological concerns, and regulatory uncertainties. It might be a new asset class that complements the global financial system even if it won’t replace gold in the traditional sense. The coming years will be crucial in determining if Bitcoin can be truly called the “new gold” as it develops and becomes more mainstream.

For now, fans and investors just need to keep up with the latest updates and adjust to the changing landscape of digital assets. As Bitcoin shapes the future of finance, keep an eye out for more on this exciting topic.

Frequently asked Questions: Bitcoins as the new gold?

How does Bitcoin work?

Bitcoin is a decentralized digital currency that runs on a blockchain, a public ledger recording all transactions. Miners (Bitcoin Mining) use computing power to solve complex puzzles, verifying transactions and adding them to the blockchain. This secures the network and issues new bitcoins as mining rewards. Transactions are pseudonymous and irreversible.

How much is $1 Bitcoin in US Dollar?

Bitcoin’s price fluctuates constantly due to supply, demand, and market sentiment. To check the current exchange rate of 1 BTC in USD, visit cryptocurrency exchanges like Binance. You can also use financial websites like CoinMarketCap or CoinGecko for real-time Bitcoin price updates.

How do I buy Bitcoin?

Buying Bitcoins is actually very easy. All you need to do is create an account on a cryptocurrency exchange like Coinbase, Binance, or Kraken. Complete the identity verification, deposit funds via bank transfer or credit card, and purchase Bitcoin. Make sure to store it in a secure wallet, either a software (hot) wallet or a hardware wallet (cold) for safety. In case you need your investment back, you can also sell Bitcoin again at any given time.

How do you make money from Bitcoin?

You can profit from Bitcoin through trading, long-term investing (HODLing), Bitcoin mining, or earning Bitcoin via services. Some people trade Bitcoin by buying low and selling high; others stake Bitcoin in interest-bearing platforms. Bitcoin mining rewards participants, but it requires significant resources and energy to be profitable in the long run. Every Bitcoin transaction can be a potential win.

January 8, 2025