Bitcoin, one of the cryptocurrencies is the most talked about in 2017 with blockchain technology that it uses to maintain its transactions and those who understand technology has been investing in it and making fair profits by selling and buying at the profitable minute and monitoring the fall and rise of prices on mobile apps This led to a rapid popularity of bitcoin although there were other cryptocurrencies using the same technology could not get that popular worldwide. The first question on the investment of your earned money is How high are the returns? Well if you understand how it works it is up to you how fast can you make money out of it. Few bitcoin investors happen to take their relationship with bitcoin a step ahead by becoming the miners of bitcoin and gaining rewards for it.
Bitcoin Mining is the process of generating new bitcoins by adding bitcoin data to the global ledger. Since this is not maintained by any regulating body the currency circulates among the users and monitored by them itself. Mining is the maintaining of bitcoins which consumes computing and electricity to solve the mathematical equation running for each digital; transaction and updating the data by checking a fair transaction. A group of transaction makes blocks which keeps adding and are secured by the miners and the collection of these blocks is called blockchain which is the record of the past transactions to confirm the transactions to rest of the nodes in the bitcoin network. Now that we know what bitcoin is and how bitcoin mining works? There still is a lot of risks involved and the electricity consumption for mining will cost and calls for an investment. So, let us check out few bitcoin millionaires.
- Yifu Guo
Money Made: $5 Million
Yifo Guo was the first one to build a bitcoin miner and the first batch was totally sold out later many competitors started manufacturing the same but Yifo Guo was the first one to create the miners and made it to the list of millionaires.
- Winklevoss twins
Money Made: $11 Million
These brothers are the owner of first bitcoin exchange in Gemini but it was not where they started. Firstly they invested a huge amount in BitInstant Bitcoin and built a tracking system to track the average price of bitcoin, they named there company Winkdex. They have their own cryptocurrency on the exchange named ethereum.
- Tony Gallippi
Money made: $20 Million
Tony Gallippi is the founder of the first payment processor for bitcoin and is the most trusted by the retailers for everyday payments. The company is known as bitpay and makes a worth of $1 Million payments every day.
- Jered Kenna
Money made:$30 Million
Jered was the first one to open a mining pool company, which allows to mine in a group and the rewards are distributed equally. He started off when bitcoin was only worth 50cents now he is the owner of bitcoin dark mining pool and several other ventures.
- Dave Carlson
Money made: $ 35 Million
Dave was the founder of a mining company called MegaBigPower which he started from the basement and he was making $8 million per month by 2018.
- Charlie Shrem
Money made: $45 Million
Charlie Shrem is infamous for money laundering in 2014 although it is intriguing to know that he came to know about bitInstant and started buying bitcoins at low prices when he was 11 years old. Later after getting out of prison, he founded the company that sells investment portfolios to blockchain companies named Intellisys Capital.
- Roger Ver
Money made: $52 Million
Roger Ver was already rich when he started to invest in bitcoin startups and became even richer. He is a popular investor in different blockchain startups such as bitpay, ripple, blockchain.info etc.
Blockchain technology would not have been so popular in such short time if it was not for mobile app development company after bitcoin made it to the masses different mobile apps came into the app store and google store for people to know about it more and use it. All the above-mentioned millionaire were the first one which made them rich faster than the normal ability of anyone.