Let me guess, you heard about bitcoins going up a zillion percent, and now you have some serious FOMO (fear of missing out).
No worries, I’ve got you covered. 🙂 After consulting with several crypto experts, I’ve created this handy little guide to help guide you toward the ultimate crypto savings plan.
For the sake of simplicity, and readability, I’m going to leave out all the complicated intricacies of mining, blockchains, etc… and tell you the jist of what you need to know.
IMPORTANT: Cryptocurrencies aren’t going away anytime soon. They will become a new standard, and regardless of what method you choose to acquire crypto currency – you need to start investing NOW. We are in the infant stages of a world-changing currency transformation.
Disclaimer:While this guide to making money with crypto is dummy-proof, it does not guarantee that you’ll make money. Use caution when trading or dealing with any cryptocurrency and certainly don’t bet your life savings on anything. Start slow with what you can afford, and do your homework! If you have questions, don’t hesitate to reach out to me. Enjoy!
Q. Should I build a computer and mine coins myself?
A. No, no – absolutely no. Unless you are extremely tech-savvy and know exactly what you’re getting into. For the average person, it’s far too costly (energy usage), too time-consuming, and technology changes so quickly that you’ll be upgrading your mining rigs before you even re-coop your original investment.
This was the next question I posed to the experts, and after getting the same ten responses – I started to believe that they were on to something. 🙂
Q. Investing or Mining?
A. Mining. In the cloud.
I think the best way to understand this is to give you an example. Today, if you spent $30k you would roughly get 2 bitcoins (currently around $15k/each). Then, of course, you would hold it waiting for the price to go up so you could make money selling it at a higher price. Or, you might hope that it dips down for a bit so that you could buy more, and wash, rinse, repeat. This is the age-old process of buying low and selling high.
When you mine coins, you setup a very specific type of computer with fast hardware and algorithms for mining coins. These computers use a considerable amount of energy, and as more and more miners come along, the coins become harder to mine. That means that you need to upgrade your computers, use more energy, etc. etc.
However, with CLOUD mining you are essentially renting someone else’s super-fast computers, energy and resources. You take a contract out for 12-24 months, tell them how many computers you want running, and you’re off to the races. They do all the heavy-lifting for you, and you start accumulating coins!
To go back to the previous example, let’s say that you took that 30k and you invested it with cloud mining. 30k, as of today, would purchase you 100 Terahashes/second, which would earn you a little less than 6 bitcoins throughout the course of the year! At today’s price, your 30k investment would net you 100k in coins in 12 months! (and imagine if coin prices continue to go up!)
Wait! It Gets Better!
If you’re starting to get excited, just wait, because it gets better! If you use a cloud mining service like HashFlare.io, then you can re-invest your mined coins on a daily basis. Of course, this makes everything a bit more risky, but it also allows you to compound your potential mining income on a daily basis!
If you can’t tell, I’m super excited about mining in the cloud and I’d strongly urge you to get started right away.
Let’s Get Started! (3 Simple Steps)
— Setup an account with Coinbase.com
Coinbase is the most well-known wallet for cryptocurrencies, it has great security and a simple user-interface. As of now, you can buy Litecoin, Ethereum and Bitcoin there, and I’d suggest getting a little of each to start with. Many other cryptocurrencies and exchanges require you to use bitcoin for purchases, so if you’re planning to make some long term investments and want to be able to jump on opportunities when they arise, get a nice supply of bitcoin (use it as your savings account, more or less)Get Started with Coinbase »
There are two great site for cloud-based mining and those are HashFlare and Genesis Mining. Genesis is currently sold-out of mining contracts, and I won’t be surprised if Hashflare is sold out soon too. So, don’t wait to get started there. Opportunities like this don’t come along every day! If you have questions during this process, feel free to reach out to me on Facebook here.Get Started with HashFlare »
— Partner With Me at USI Tech
(UPDATED: Dec 15th, 2017)
As excited as I am about Hashflare and cryptocurrencies – I’m even MORE excited about this opportunity. I haven’t joined a new network marketing company in over 5 years, because, frankly, nothing sounded all that appealing. But, I’m ALL-IN on this one.
These guys built their company the right way, and currently are mining about 2% of the total global ethereum. And, when you join (even as a free partner), you can make money referring people to mine coins or just by investing yourself. It’s a no-brainer.
If you’re interested in learning more, you can lock-in a free spot with me at the top of my organization here: Free Account Registration at USI TechPartner with me at USI Tech »
As always, if you have questions or comments – please let me know below!