04

HOW YOU CAN MAKE MONEY WITH BITCOIN (CRYPTOCURRENCIES)

04

HOW YOU CAN MAKE MONEY WITH BITCOIN (CRYPTOCURRENCIES)

So, a huge question that's beginning to get around is, how do you make money with Bitcoin?

When it comes to Bitcoin and other Cryptocurrency, the main driver for people learning and jumping into it (besides the technological advancements and U.I.) is money.

After all, money makes the world go round.

However, at its core, “money” simply stems from the drive and need to exchange and create value.

When people retire, often times they end up dying within 5 years because when their work and feeling of purpose disintegrates, their perceived value and reason for being here becomes much less.

This may sound grim, but also clarifies how we can be happier and live longer: By continuing to create and exchange value, of any kind.

Which is where cryptocurrency enters.

It not only is an amazing store of value and source for work/value output, but it is a place where anyone from 10 years old to 100 years old (granted you can use a smartphone or desktop computer) can start building wealth and live the life you truly yearn for.

money with bitcoin

TRADING CRYPTOCURRENCY TO MAKE MONEY

money with bitcoin

TRADING CRYPTOCURRENCY TO MAKE MONEY

Similarly to stock markets, cryptocurrency coins can be held and traded using exchanges.

This is similar to something like Forex, where you exchange currency for a foreign currency, in hopes that the relative value of this new currency might increase, earning you money in the long-term.

In fact, this is essentially the same thing, except that cryptocurrencies are globally based and not split up based on irrelevant geographical borders.

On top of that, the cryptocurrency market is a market that will increase 10-fold or, most likely more, making it a safe bet for helping you build your wealth through this investment.

There are a few ways to make money with Bitcoin or other cryptocurrency: 

  • Buying and selling in the short term
    • Day trading (takes hours for 5-15% gain daily)
  • Buying and waiting for news, then selling
    • Middle term (between 3-6 months for around 50-100% gain on certain coins)
  • Long term holding
    • Buying a coin you have evaluated to be worth more than it is and selling in the future when it has reached it’s true value state (we will get into this in a few sections)

Day trading, or the typical version of trading we see in any movie that features the stock market, is a tedious process.

You will need balance sheets, P&L sheets, multiple wallets, multiple exchanges, etc. to stay up to date on current cryptocurrency and global news and an emotional detachment to what you are buying.

If you are looking for a substitute to day trading stocks, then I would 100% agree that cryptocurrency is a better bet, because being involved in this market alone is worth it. The increased volatility of the market also allows for much bigger gains (but also bigger losses if you aren’t paying attention to what you’re investing in).

There are countless people making thousands of dollars a day, and getting away with steals in this market, but similar to anywhere else there are whales.

A whale is someone who owns a large portion of a certain coin or stock, allowing them to have control over its overall price. By exiting, they can manipulate the price in a downtrend, and by entering they can create a bull market.

Since cryptocurrency markets aren’t regulated by the SEC, many coins get manipulated, and with that people can end up losing a good amount of money.

That’s why being overly cautious when day trading, and using the news paired with TA, is a great way to get started.

Check out Node Investor for more on how to do Technical Analysis (TA) at nodeinvestor.com

money with bitcoin

UTILIZING A CHARLIE MUNGER / WARREN BUFFET STYLE APPROACH

money with bitcoin

UTILIZING A CHARLIE MUNGER / WARREN BUFFET STYLE APPROACH

Now on the other hand there are a group of people, GCA being included, that use an approach eerily similar to billionaires Warren Buffet and Charlie Munger.

Their approach seems simplistic, yet works so well, granted a lot of the power comes in the steady hand and mental aspect behind it.

*Note this is a long-term strategy with the ability to profit heavily, and not recommended for day trading.

By finding coins and companies in the cryptocurrency space that you can evaluate and truly see making money by mass adoption/delivery of product, you will have already begun. This is specifically something we teach here on GCA on how to make money with bitcoin or other cryptocurrency.

Don’t choose too many coins, and stick to one with a solid foundation and a good white paper.

It takes time to review these but putting in effort to make a huge return is always worth it.

Hold it for the long term in order to both avoid capital gain taxes, and give it a chance to maturate so that inflation ends up driving your net Fiat currency out in the first place.

And then sit back and forget about it.

It’s best to treat it as if the money is already gone, so you can make smart choices with this “free” money.

Periodically check the news, your coins, and if anything has happened in the market or to your coins that will elicit your attention.

Otherwise let the money accumulate as mass adoption helps to drive user flow into your coin, which it will over the long-term for the right coins.

As the cryptocurrency experts of today would say “HODL” (hold long term)

money with bitcoin

CREATING OR ADOPTING A COIN TO YOUR BUSINESS

money with bitcoin

CREATING OR ADOPTING A COIN TO YOUR BUSINESS

One way that many technologically driven companies, E-commerce businesses, and everyday shops are making money with bitcoin is by adding it to their business.

The market is currently seeing an influx of ICO (independent coin offerings) and new companies entering the space.

And we would say that we will see most of them implode in the next few years.

But, there are so many opportunities to incorporate it correctly with a business.

If you are truly a tech company looking for a way to generate a user base and create an easy to use reward system for your company, then creating a coin would be advantageous.

But only if it is truly necessary, has a use, a purpose, and will be airdropped instead of funded using an ICO structure.

If you try to scam the system, you will most likely lose in the long-run.

ICOs will be heavily regulated in the near-term, but creating a coin that does attribute a value and airdropping it or giving it to people who already use Ethereum is a great way to generate a solid user-base of people who already are in the space.

It helps them associate your name in a positive manner without any risk.

Although, if your company or business has no need for a token (like most) then the next best option is to accept and open your stores up to cryptocurrency users.

With cryptocurrency a lot of people don’t want to convert them back to USD or any other Fiat currency because they see them as a far more secure superior monetary delivery system.

And with that many businesses such as Microsoft, Overstock and about 260,000 other vendors are now accepting cryptocurrency day to day.

By accepting it you have two options:

  • Convert it to USD/Fiat while allowing a new user base to shop on your site
  • Hold onto it and watch the value increase over time.

There are companies like Bitpay and Stripe which will convert your bitcoin at the end of the day to Fiat, and others like Coinbase which will allow you to accept and store it.

All-in-all it’s a very good tool to attract customers and users of the fan base of cryptocurrency.

money with bitcoin

MASTERING CRYPTOCURRENCIES

money with bitcoin

MASTERING CRYPTOCURRENCIES

The last part of this introduction series is on mastering cryptocurrencies to leverage the future of money.

And the truth is, that is the best way to truly make money with Bitcoin or the like, simply, know what you are doing, and make sure your Cryptocurrency is safe and growing in value.

It’s like buying and storing gold with the knowledge of there being a finite amount that can be mined and an increase of user base over time.

Making it only go up from here.

Mastering cryptocurrencies comes down to a lot more than people think:

  • Buying and selling
  • Storing safely and securely
  • Trading and using Exchanges
  • Finding the top cryptocurrencies and cutting through the noise
  • Profiting from holding them
  • Getting free money with airdrops
  • And so much more

Head to the next page to get started learning how to truly master cryptocurrencies today.