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If you had invested just a few pennies in the Bitcoin Crypto Currency shortly after it started back in 2009 you would now be VERY rich indeed. When Bitcoin (also known as BTC ) first came on the scene, it costed around on tenth of a penny to purchase 1 Bitcoin… Fast forward to 2017 and 1 Bitcoin at todays rate would cost you close to $1200.
Even if you purchased ANY amount of Bitcoin just LAST YEAR (2016) and held it until now… YOU WOULD HAVE DOUBLED YOUR MONEY!
There are various ways to make money with cryptocurrency and you don’t even have to wait a year to double your Bitcoin. In this post I will be showing you how I am doubling my Bitcoin every 90 Dyas with ZERO effort. First let’s look at what is crypto currency.
What Is Cryptocurrency?
The very first thing you need to know and understand before anything else is, the meaning of CRYPTOCURRENCY and how it plays a vital role in Bitcoin. A cryptocurrency is a medium of exchange like normal currencies such as USD, but designed for the purpose of exchanging digital information through a process made possible by certain principles of cryptography. Cryptography is used to secure the transactions and to control the creation of new coins.
The first cryptocurrency to be created was Bitcoin back in 2009. Today there are hundreds of other cryptocurrencies, often called as Altcoins. Put another way, cryptocurrency is electricity converted into lines of code with monetary value. In the simplest of forms, cryptocurrency is digital currency. Unlike centralized banking, like the Federal Reserve System, where governments control the value of a currency like USD through the process of printing fiat money (Money which has no intrinsic value and cannot be redeemed for specie or any commodity, but is made legal tender through government decree), government has no control over cryptocurrencies as they are fully decentralized. Most cryptocurrencies are designed to decrease in production over time like Bitcoin, which creates a market cap on them.
That’s different from fiat currencies where financial institutions can always create more, hence inflation. Bitcoin will never have more than 21 million coins in circulation. The technical system on which all cryptocurrencies are based on was created by Satoshi Nakamoto. During the first launch of Bitcoin/BTC last June 2009, 1 coin is only valued $0.0001 and only few wise risk takers invested in this new idea. Many who are not patient enough to wait for its value to rise even sold their coins at a cheap rate. 4 years later, as BTC’s value increased, a Cyptocurrency exchanger was launched boosting its value up more than ever. An exchanger is a system where Bitcoin can be converted into cash and can be sent directly through different Bitcoin wallets, banks or even door to door delivery.
It is also a system that allows Bitcoin to be used as a mode of payments to different institutions all over the globe. As of February 2016, the value of Bitcoin is playing from $1000 – $1059.52 per coin. Compared to its $0.0001 value when it was first launched, all BTC stakeholders who waited patiently are now millionaires.
While hundreds of different cryptocurrency specifications exist, most are derived from one of two protocols; Proof-of-work or Proof-of-stake. All cryptocurrencies are maintained by a community of cryptocurrency miners who are members of the general public that have set up their computers or ASIC machines to participate in the validation and processing of transactions.
3 Ways To Make Money With Bitcoin
- With the price of Bitcoin continuing to rise you could simply buy some bitcoin and let it sit in your digital wallet and watch it grow. If you had invested $100 into bitcoins in 2010 it would now be worth over $1 Million to you. If you had invested $1000 just LAST YEAR, you would have more than doubled your money. And at the time of writing this post Bitcoin has gone up by over $400 in just 5 weeks. Something to think about! For more information on bitcoin wallets and bitcoin in general visit http://bitcoinopps.com
- Mining. Bitcoin miners get paid small pieces of newly generated bitcoins simply for verifying recent transactions. Mining is the backbone that allows Bitcoin to function. New Bitcoins are created as a reward for miners who secure & verify payments in the blockchain. A more detailed overview on bitcoin mining and how t to get started can be found
- Trading cyptocurrencies including bitcoin is the art of buying bitcoin (or other cryptocurrencies) at one price and then selling it at a higher price. Knowing when and where to buy and sell is key and there are many exchanges to choose from. The website https://www.buybitcoinworldwide.com/ is a good place to learn about exchanges and buying bitcoin. There are also various investment companies who will do the trading for you and offer stable annual or weekly profits and very high returns on your investment. There are also less trust worthy websites popping up all over claiming crazy rates of interest such as 10% daily, this kind or profits can not be guaranteed and sustainable so be careful when you come across such websites. Usually the lack of a few simple things like ‘proof of trading’, a clear ‘terms and conditions or agreement’ page and detailed company info should be a warning to be extremely careful dealing with such a website or company. Even claims of 1% or 2% guaranteed daily although less ambitious is still a bold statement to make in such a volatile market and highly likely to be a scam or illegal scheme of some sort. One company which does offer a genuine long term investment opportunity is Crypt Trade who provide between 0.59% and o.99% daily on an annual investment plan in which interest is paid weekly and can be withdrawn twice monthly. Along with very good incentives and payouts for team builders. For more information on Crypt Trade click here.
Beware of other so called investment opportunities and claims such ‘double your bitcoin in 30 days’ or claims of insane returns of 10% per day. Most if not all of these types of schemes are dishonest and at some point you will lose your investment and may risk investigation if it turns out you have participates in some illegal website scheme as we have seen recently with the onecoin scam who’s assets have been frozen and prison sentences are on the cards for the key players, and the recent demise of coinexpro.com who’s website vanished along with hundreds of bitcoins from unsuspecting participants at the end of April this year.