Discover how easy it is to buy Bitcoin BTC safe and securely using Coinbase cryptocurrency account and make money trading crypto using it’s GDAX exchange.
How t buy Bitcoin BTC | Bitcoin Millionaire
In order to start earning passive income from Bitcoin, you first need to buy Bitcoin. Then you need to invest your purchased Bitcoin into investment projects which will allow your capital to grow. In reality, there are many different ways to invest in Bitcoin. However, whatever investment path you choose, they all fall into 1 of 4 categories, such as, programs, mining, exchange or initial coin
offerings (ICOs). These are the main four categories which will earn you and make you a true Bitcoin Millionaire.
Payment Processors | buying Bitcoin and getting started
Remember, I said that to get started with Bitcoin investment, you first need to buy Bitcoin. Well, to get started, you can use Coinbase or Bitstamp to buy Bitcoin using your credit or debit card. Now, both Coinbase and Bitstamp are well established Cryptocurrency exchanges and their operations are governed by International Financial and Banking Regulations. This means, once you
have purchase your Bitcoin using these platforms, do NOT use their BTC wallets to invest in any Bitcoin programs or mining operations. However, you can use their BTC wallets to sent Bitcoin between exchanges. Also, do not use their BTC wallets when purchasing any ICOs. Instead, use other online wallets, such as MyEtherWallet and Blockchain. Now, MyEtherWallet is used for sending and receiving Ethereum and the Blockchain wallet is used for sending and receiving Bitcoin.
Bitcoin Withdrawal Process | Bank Transfer
Now, as mentioned earlier, using Coinbase and Bitstamp, you are able to buy Bitcoin using your credit and debit cards. Furthermore, you can setup and link Bank wire transfer between your Bank and these Cryptocurrency exchanges, such as Coinbase and Bitstamp. Once this process is complete, you are freely able to sell your Bitcoin and exchange it into fiat money. After that, you can transfer your money back into your hands via Bank wire transfers.
Creating Wealth using Cryptocurrency Exchanges
Now, after you purchase some BTC at Coinbase or Bitstamp, you might choose to start trading or simply holding Cryptocurrencies until price rises. Nowdays, most people are too busy to sit front of computers and trade all day long. So, they transfer their BTC to Cryptocurrency exchanges such as, Binance or Kucoin. Once transferred, the BTC is used to buy cheaper Altcoins. Basically, at exchanges, wealth is created, whereby the investors are buying cheap and holding until the price goes up. In most cases, investors are earning over 500% using this, “buy low and sell high strategy”.
Investment in ICOs for huge profit margins
In regards to initial coin offerings, Individuals are taking their time to research and find good ICO investment opportunities. Once, ICO opportunities are discovered, people use MyEtherWallet to buy ICOs. These Initial Coin Offerings can be risky as you never know if the proposed investment will start. Whether the coin will make it to the exchange or not? In most situations, if its a good ICO project with a solid team, then most projects get materialized.
Bitcoin Mining – Wealth from the Cloud
What is Bitcoin mining? Bitcoin mining is whereby you are earning a passive income for allowing your computer to be used for varifying BTC transactions. You might decide to investment in Bitcoin mining, but setting up mining operation at home is very expensive and technical. Therefore, what most people do now is that they buy mining contracts from companies such as Genesis Mining. These mining contracts earn you regular passive income for the life of the contract.
Profiting with Bitcoin – Conclusion
To start earning residual Bitcoin income, you first need to buy Bitcoins using the recommended platforms. Second, you need to start investing your Bitcoins using the right payment methods. Third, regularly compound and grown your returns. Finally, you will be able to withdraw money back into you Bank account using Bank wire transfer.
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