Bitcoin
I thought I'd share this post about Bitcoin, for several different reasons, amongv them, is the fact that, coming from a financial background as I do, finance and the banking system has always held a healthy interest for me, as I am sure it does for you
Couple that with the fact that Bitcoin (BTC for short) has been around for years and for the same amount of time its been around for, it has had a stigma attached to it that it shouldbe avoided at all costs
Indeed the banks, made a point at one stage of freezing payjments into and out of your account to any BTC wallet. I mean the very cheek of it, they even threatened me with it, until I said I'd take my account elsewhere and make sure I wrote a well optimsied blog about them!!
But, with a lot of online processors now changing the way they do business, PAYPAL for one and yes I know Paypal has its own detractors, but when they start adding Bitcoin as a method pf payment, then its time to start taking a look at BTC a bit more seriously, as I have done more recently
BTC is a Fascinating subject, really interesting, so much so that i aligned with a BTC educational programme recently, to learn more about it and boy were my eyes opened
Far from being the scam coin it is made out to be, it is actually comething you want to have, a bit like shares, its rpice goes up and down on a daily basis, certainly this week its been as high as $19,000 and as low as $12,000
Now the educational programme I am following, also allows you to trade in BTC as well, which bring me to the point of this post
That when it comes to earning money online, then BTC is a very good way to go. I have changed all my payment processors that accept trusted wallets, to these methods of payments.
BTC is peer to peer payment, which can add up very quickly and is way more secure than a bank, because the wallet you have, has a payment key, which is yours and yours alone. Lose it, you can't get it back.Its a bit like the key to your house, its yours.
Now for doing some small little tasks, this week, I have earned BTC, which is sitting in my wallet, ready for transferring to my bank.For EG on one wallet this week my earnings have increased by a factor of 2.5 times
These BTC wallets also pay you interest on your BTC, which is way higher than anyo ther investment I have seen anywhere on the high street, so your money is actually working for you 24/7, until you want to take it out and transfer to your bank.
Sure there are plenty of scam ventures out there, like anything else, but when you are properly educated, then you learn which ones are good and not so good.For example I use one venture which pays me a percentage of other peoples upgrades, which then earns me interest, ready for transferring to my wallet, where I can then trade and earn more, rady for transferring to my bank
So, if you are looking at, or considering BTC as a method of payment, I strongly urge you to and you will be delighted you did
Applied knowledge is the difference
Recent Comments
56
Thanks for the insight Dave! I just recently purchased Bitcoin and so far it’s doing pretty well. Just like all things I would like to add... “Not to put all your eggs in one basket” advice.
I diversify my investments across many things. But loving how this one is performing so far.
Question do you keep a portion long term? Or sell for the short term gains and reinvest?
Curious what your thoughts are!
Thanks
Holly
Absolutely not all eggs in one basket. I use 4 exchanges, one main one and 3 others as back up
Because of the way I use BTC, the strategy covers all aspects Short medium and long term, because I trade on the dips and highs, so all angles are covered, quite literally
The dips are for short term, but highly profitable gains
Hi, dave.
I first got introduced to BTC in early 2016.
Loving it and other cryptocurrencies as well.
You are correct that there are a lot of scams out there that are using Crypto as their method of payment. Good to keep a heads-up.
Thank you for posting.
Paul from Canada.
It is a very useful way of earning cash, plus good interest which is way better than any bank.
Effectively instead of working for the worst employer of them all... Money
It is better to have money work for you (well in my book anyway)
I got into BTC in 2017, Dave, just before the boom to just below $20k and the subsequent huge dip.
My BTC is now worth far more than I put into it in terms of my initial investment and, since the previous 'halving', the only way it's going to go is North, I believe.
It's gone up in value by around 65% in the past few months alone and as it becomes more mainstream - like you point out with Paypal - it's going to increase in value exponentially because of the number of people who will try to get in before the market cap. Some of those people will be big institutions and that will only drive the price up.
The Blockchain provides proof of transactions, rather than mere trust, which bank transactions in government controlled central bank currencies rely on. I'd rather have proof than place my trust in a bank or a politician, any day! Because of the Blockchain, transactions are far faster and carry far less fees.
I nearly invested in BTC when it was just 13 Cents for 1 Bitcoin and if I'd have just put $100 in I'd be a multi-millionaire now! Having said that - I probably wouldn't be because I'd probably have sold them when they reached double digits in the belief that I'd made a killing!
The reason I didn't is because the guy who approached me about it was a serial social media spammer who I eventually deleted and blocked!
We're all very wise with hindsight, aren't we, but I would urge anyone with some money to invest (with the caveat that it's not more than they can afford to lose) should get into Bitcoin and other of the more credible Cryptos like Ethereum, LiteCoin, Dash, Monero, etc, that have real world applications.
There's an excellent book which gives a good overview of them all along with a lot of detail about Bitcoin called 'Bitcoin - The Future Of Money' by Dominic Frisby.
Definitely worth a read.
Cheers
Rich :-)
Very interesting topic. I have been investing in Bitcoin since July after I learnt about trading currencies. The broker had asked me to send bitcoin instead that got me stuck and I didn't know what to do so I went on YT to search for 'how to use bitcoin'. I followed the instructions and was scared at the same time lol! Well, I did and used Bitcoin to fund my account. I checked my brokers acct and my money was deposited instantly.
I thought bitcoin might be doing something right so I wanted to know how to buy and sell bitcoin. I joined a broker and I have been buying and selling since and earning profits since. I withdraw with ease too. Good stuff.
Silah, you highight a good point BTC isa under your control totally, as far as funding and withdrawals go. So unless you loise your wallet/s key/s you won't have a problem
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Thank you Dave.
Great information & well explained.
I have yet to venture into the Bitcoin world, although I have been contacted by a couple of people who have invited me to participate with them.
I have also watched a couple of Youtube videos.
I to intend to start soon.
Denis
The education programme I am doing is awesome and no risj involved. I am currently trading with house money from Coinbase