If one apprehends bitcoin mining to invest in Bitcoin it can prove profitable in the long term taking into account the increase in the bitcoin price.
Below are some applications for bitcoin mining:
Trackers allow you to follow the price of cryptocurrencies on different supports and exchanges. In the form of an application or a simple widget, some apps also offer an alert system with notifications.
Blockfolio is an application that tracks the prices of your investments. A very simple but so effective application: you configure the cryptocurrencies you have with their quantity and Blockfolio will show you your total balance, full charts, buy and sell orders etc.! It also allows you to configure price alerts.
zTrader is very similar to Blockfolio: the application will allow you to follow the evolution of your investments and the price of cryptocurrencies. We can appreciate it for its more detailed full screen graphics or for its slightly different interface but significantly, it does the same thing as Blockfolio. An application also widely used by investors.
BITCOIN PRICE WIDGET
Bitcoin Price Widget is an application allowing you to configure widgets that will be displayed directly on your home screen. The application is compatible with a lot of currencies and can also track Litecoin (LTC). Once the widget is configured, it will display the Bitcoin price at regular intervals (according to your choice) and with a click on it, a graph appears. An ideal application for those who want to see the course at any time.
WALLETS AND EXCHANGES
Wallets and exchanges allow you to manage your cryptocurrencies: buy exchange and so on. Some are dedicated to exchanges, like Coinbase, others work with several services.
BITCOIN WALLET BY COINBASE
Le Bitcoin Wallet is used for Coinbase. You can with this wallet: buy and sell Bitcoins, pay in Bitcoin and receive Bitcoin. All this in a secure application by Coinbase, with the possibility of entering a password when opening and sending Bitcoin. A complete wallet offered by the well-known Coinbase service.
Compatible with more than a dozen of the most used cryptocurrencies, you can store, send and receive different currencies on your smartphone. Cryptonator also includes a more than interesting feature: instant exchange between different currencies in your wallet! A complete wallet for the different cryptocurrencies.Get information about how bitcoin works.
XAPO WALLET & CARD
Xapo is a secure wallet for bitcoin but also a “bank” since you will be able to order a credit card which can directly use your bitcoin balance! In addition, the wallet allows, like the others, to receive and send funds but also, Xapo allows you to buy bitcoin! A complete wallet linked to a credit card.
The best Bitcoin storage wallets
Once the purchase of Bitcoin has been made on an exchange platform, it is highly recommended to transfer your Bitcoins to a wallet. Coinbase and Binance platforms offer integrated digital portfolios. It is also possible to choose an external wallet; in this case most platforms offer the possibility of transferring the purchased Bitcoins.
One can use these applications free of cost and make money from bitcoin trading.
What investment to mine Bitcoin?
In addition to purchasing ASICs mining machines, you must also be aware that your activity will consume a lot of energy. With a bitcoin price between € 2,600 and 3,500 since January 2019, the energy costs are too high to make the operation profitable in the short term.
But in China, where most of the miners are located, it costs around € 2,600 to mine a bitcoin.Mining Bitcoin is therefore risky and of low profitability if we take into account the current bitcoin price.
Other options to mine in cryptocurrencies and invest in Bitcoin
If mining bitcoin is a good way to get bitcoins, or at least fractions of bitcoins, you should know that this is not the simplest solution today especially for a lonely miner. This is why it is recommended to join a mining pool or to go through a Cloudmining company. You can also choose to invest in bitcoin by buying bitcoins directly on an exchange platform.