Buying Bitcoin

Buying Bitcoin is actually really easy and simple even if at first it seems hard to aquire, the website Coinbase makes it so easy because you can actually purchase bitcoin with a debit/credit card, also you can sell bitcoin and transfer back to GBP or USD. You can also purchase Ethereum and Litecoin here.

Coinbase

If you use the link above to purchase your bitcoin you will also receive an extra £7/$10 on your first purchase of $100 or above.


Hold Bitcoin

The first and most simple way to earn money with bitcoin is to hold it! which means to buy and wait until the price of bitcoin goes up, on july 2010 bitcoin was worth $0.08 per coin, now as i type it is currently worth $13535 per coin! you can imagine how much money the people who held on to their bitcoin have made. You may be thinking "isn't it too late to start investing in bitcoin?" the answer is unknown, but people have been thinking that every time it goes up by another $1000. In another 5 years from now when it may be worth $100,000 to $500,000 per coin people will look back and say "i could have bought it at $13535 but i thought it was too expensive"

Just buy some bitcoin, sit back and know that when everyone is talking about the price of bitcoin going up, you will be sat there with a smile on your face.

If you are holding a large amount of Bitcoin it is safer to store it in an offline wallet, either on your computer or a hard wallet such as the Ledger Nano S.

A great offline wallet for the computer is Exodus:

Exodus Wallet

Or the the hard wallet Ledger Nano S (the safest place to keep your bitcoin)

Ledger Nano S


Lend Bitcoin

Bitconnect is a platform where you can lend them bitcoin which they use to trade and make a profit from other peoples bitcoin, in turn they pay you around 1% of your investment daily. The best part about this deal is you get your initial deposit back! for example you lend them $1000, they pay you $10 per day, then after the investment term is over, you get your initial $1000 back and you have earned $10 per day for the entire time it was invested into the platform! to put that into perspective for you, you invest $1000 and leave it for 365 days, you will come away with $4650 and you didnt have to do a thing to earn it.

BUT

Even better than leaving it for 365 days, you can log in daily and reinvest the $10 it makes if you do this for 100 days you will have an investment of around $2700 making you $27 per day! fast-forward another 100 days you will have an investment of $7300 making you $73 per day! after 365 days of constant reinvesting you would have a staggering investment amount of $37,000 making you $370 per day! these numbers are just simple math that you can check yourself here:

Compound daily interest calculator

So you started with a $1000 investment, turned it into $37,000 then you can either carry on reinvesting until you reach $100k or you can start to take out the interest daily and live comfortably on $370 per day. 

Bitconnect has been around for over 1 year, some have over $500k invested. The more money you invest, the more you make! but NEVER invest more than you can afford to lose, any investment is a risk!

My advice would be to start with a low investment until you become comfortable with the platform.

Join here: Bitconnect Link

If you sign up with this link and invest i will make sure you receive 5% of your first investment back just Email me your username and initial investment! Cryptosimms@gmail.com


Cloud mining Bitcoin

So if you dont know about bitcoin im pretty sure you are wondering what mining and bitcoin have to do with each other, but mining in the crypto world is a lot different to what you think it is, mining in a simplified way is how cryptocurrencies such as bitcoin work! it is a network of people using computing power that makes transactions happen on the blockchain, the blockchain is a digital ledger of transactions that is impossible to alter.

Without going into too much detail what mining is, the idea is you can either use your own hardware to mine cryptocurrency coins which requires high preformance graphics cards or CPU's or even specific machines made for the purpose of mining, but these are expensive and seem to be obsolete now because of cloud mining contracts. 

Instead of using your own hardware and paying high electricity bills, companies have made mining "farms" and they sell the mining power to you, it may sound complicated but it is really simple, you pay them for a specific amount of mining power and you get a daily return from that mining power, for example a company called hashflare is selling 7TH/s of mining power for $1050. By using a calculator provided by CryptoCompare

Cryptocompare Bitcoin Mining Profibility

You can see that 7TH/s would give you around $15 per day making you $5500 in 1 year making it a worthy investment, the profit could rise or fall depending on bitcoins price and the difficulty of it being mined. 

You can purchase from $1.50 to $15,000 of mining power and they are 1year contracts.

Also you can do the same idea with reinvesting as bitconnect, you could start with a $300 investment which is 2TH/s and click the reinvest button on the site and within 6 month you could have built up to a 21TH/s giving you a monthly income of around $1600.

Hashflare has been around for over 3 years! 

join here: https://hashflare.io/r/6DDAF03F 

There are other trustworthy mining contracts but most are out of stock.

-Hashing24

-Genesis Mining


Trading your Bitcoin for Altcoins

So if you think the price of bitcoin is a little steep, you can invest into altcoins! one altcoin called Litecoin is known as Silver to bitcoin as bitcoin is known as Gold in the crypto world, Litecoin has increased %6400 in the past year so if you invested $1000 1 year ago you would have around $65,000 now. 

There are many many other coins to invest into and some as little as $0.01 per coin, some of these are great investments as they can make the most return with a small investment, allowing you to invest into many coins with a greater chance of a good return. Make sure to research any coin before heavily investing into it, if you strike the jackpot with one, you can easily become a millionaire within 1 year or less.

The point is, it is never too late with cryptocurrency, you may have missed the opportunity with one coin, but there is always more coins out there.

Bitcoin, Litecoin and Ethereum will never be a negative investment, long term you will always earn more money than you put in. They are the safe investment option.

You can trade your Bitcoin/litecoin on exchanges, i recommend Cryptopia:

Cryptopia Exchange

Another place you can easily exchange currency is in your exodus wallet as mentioned above, this wallet is really simplified and easy to trade one coin for another, but it is very limited to what coins you can trade as they only have 18 coins currently compatible with the wallet.


Buy Low, Sell high

Day trading with bitcoin can be a great way to earn quickly, but also if you dont know what you are doing, you may lose money quickly too. But as long as you are having fun, there's nothing wrong with losing money while you learn. But start small. You'll learn very nearly as quickly and a lot more cheaply.

The right way to trade is on an exchange, not an OTC brokerage. Coinbase is a brokerage, they're easy, but charge high fees for the convenience. They also run the GDAX exchange, which has low fees. That's what you want to use.

Remember that markets are anti-inductive. They look just predictable enough that the inexperienced will make the wrong predictions and lose money.

As mentioned before i recommend Coinbase to buy your Crypto initially then send over to an exchange such as Cryptopia to start trading.

Coinbase

Cryptopia Exchange

Gdax

 


I hope this guide helped, i wish you all the best and success in the future. Thanks for reading.