How do I make money out of bitcoin? There are three ways of making money out of Bitcoin. You either buy and hold Bitcoin or you trade Bitcoin or you can mine Bitcoin.
1. Buying and holding bitcoin. How do you do that? It’s very easy guys If you’ve got a phone and you’ve got internet connection, just go to your phone go to your App Store download an application. It’s called Luno Bitcoin wallet. Once you’ve downloaded it, register on it. It’s free of charge, once you’ve registered on it then you’ll see there’s an option that says deposit money. Click on that option to deposit the money follow the instructions. It’s very very straightforward. Once you deposit that money onto Luno you will get a notification from Luno to say they’ve received your deposit. Then from there you can click on buy on Luno and convert that money to Bitcoin and you’re done,
Now, how is your money going to grow? Let’s say for example, you’ve put in $10 (USD) in that Luno Bitcoin wallet and now what happen is, once you’ve put money in there, your money will grow based on what happens to the value of Bitcoin For example today the value of bitcoin is sitting at hundred dollars per coin, therefore if the value goes up by 10%. Let’s say next week, then your money will grow by 10% whatever money that you’ve put in. There is a big part on this one, there is a chance of you losing money on this one when the value of Bitcoin drops there is a possibility that you will lose money.
When developed bitcoin goes up, you will make money. All right, so it’s very critical that you understand that when choosing this option There is a possibility of you making the money and there’s also a possibility of you losing some of the money, depending on what happens to the value of Bitcoin. So as the value of bitcoin goes up you can make money and as it goes down you lose money if the value drops by 5% you will lose 5% of whatever Amount you’re left with on your Luno. I’ve actually heard that there’s people that charge to do this for you. Don’t pay anyone to do this for you. It’s very straight forward. You can do this yourself.
2. The second way of making money it’s called Trading Bitcoin now. How do you trade Bitcoin? Trading Bitcoin is really about buying and selling and you buy low and you sell high Alright, so you can get a company that can do that for you. If you’re not confident to do it yourself. Oh You can actually look at the graphs and actually look what at what time is it great to buy .
3. Then the last one which is really my favorite one. It’s mine in Bitcoin. What happens is you collect fractions of a Bitcoin.
Your goal as an investor in Bitcoin is to get to half a Bitcoin one Bitcoin two bitcoins three bitcoins for Bitcoins many many many bitcoins 200 bitcoins that is your goal. Your goal is to accumulate as many bitcoins as possible. So what you want to do is you want to be able to collect as many bit coins as possible So the process of Bitcoin mining helps you to collect as many Bitcoins as you possibly can, depending on how much money you’ve invested. So what happens is, you can invest through a company and that company shares profits with you Based on how much they’ve made for the day and they give you fractions of a Bitcoin as a payment on a daily basis.
So it helps you try to emulate fractions and the nice thing about this one is really you are not affected that much. Actually, when you are mining Bitcoin you want to develop, you can remain low so that you can collect as many as many bitcoins as possible. So that should develop it can go up again Then your money will be worth far more than what it is today so practical. Example, Let’s say your mining investment has generated one Bitcoin for you in a or in two years in whatever periods that you’ve waited for. Now, if that’s the case, if you rush to withdraw that money today then that money will be worth $6,242.50 today. But if you wait, let’s say you wait a couple of months and the value of bitcoin goes to go all the way up to $18,727.52 like it did last in November .