#BitcoinTutorial #CryptoBoss #CryptoGodFather
For those who knows nothing about Bitcoin, there are basically 4 ways of investing.
Buy, hold and sell - It's the most common method that everyday Joes are using. Basically you buy in cheap, hold then sell when the price is higher after sometime. Unfortunately the price of a single Bitcoin is too high now for an average Joe to actually use this method efficiently.
You buy 100 USD worth of Bitcoin to hold. Price of Bitcoin increase by 10% you earn 10 bucks only. For your 100 bucks to double up to 200 bucks the price of Bitcoin at 19k USD has to reach 38k USD.
Mining - What is mining? You probably seem tons of ads in Facebook selling mining rigs. Basically you are digging for gold or in this case, mining Bitcoins.
Why do we need to mine for Bitcoins? Just like money need to be printed, Bitcoins need to be mined. There are a few points you need to consider before buying a rig.
Firstly, the difficulty of mining Bitcoins now is alot harder compare to a few years back. There is a limited number of Bitcoins that can be mined, not an infinite amount and it keeps getting hard after every coin gets mined.
Secondly, there are many website that help you calculate your returns base on your mining rig specs. Always check, don't just trust that this rig can earn you so much.
Thirdly, the heat, sound created and the power consume by physical minning by a rig might overwhelm you if you are not prepare. Trust me you in for a big surprise. 😫😫😫
Lastly, it's also quite expensive to buy a rig now. Price ranging from $3k to $5k USD per rig.
Trading - You can trade Bitcoins 24/7 and the market does not close but the price of Bitcoins fluctuate alot. Sometimes the system can not handle the massive overload of unconfirm transaction from time to time, this might cause problems for traders who trade Bitcoin by the hundred of thousands or even millions to earn that different in % by the minute.
ICO ( Initial coin offering ) might be another alternate choice as the price usually rises very fast after launch in the market like IPO. The only problem is find a right ICO as there are alot alot of scams out there.
Now we even have Bitcoin futures! Do take note buying a Bitcoin futures, you do not and will not owe the Bitcoin as payment is always settle in cash.
Mining contract - In English it just means buying into Bitcoin investment plans from companies which mined or trade Bitcoin. In return, the company will pay you an avg of 1% daily base on the funds you buy into. Yes! You heard me right its daily % not 2% p.a like what insurance company and banks are giving. This beats any insurance saving policy or any banks fix deposit! But I strongly recommand you have a hospital plan and life plan from an insurance company to take care of yourself and love ones in case you no longer around.
You can also compound and reinvest the daily % earned to grow your investment faster! Also if the price of Bitcoin goes up so does the value of your investment plans! Talk about making your money work harder for you.
PS : Contra to popular believe, alot of people thought that you need a lot of money to start investing in Bitcoin. The answer is No! In fact, I started my Bitcoin investment with a very modest amount. Of course you need to understand with a smaller budget, returns will be smaller too. We all start small but we can grow strong!
☆Notes☆
INVEST RESPONSIBLY :
•invest what you can afford to lose. Never invest life savings or money needed for daily necessities.
DUE DILIGENCE :
•do your own research and take full responsibility for your decision. Do not blame anyone for failure.
DIVERSIFY :
•do not put all your eggs in one basket. Reduce your investment risk by having more than one investment.
INVEST SMARTLY :
•Reinvest your profit from the investment and recover your capital at the earliest possible time to have a risk free investment.
ADITYA RAJ
