Heard about Bitcoin and looking to get in on the latest action? In our guide below we breakdown all the available options to acquiring and investing in Bitcoin.
The cryptocurrency market is extremely volatile at the moment and may be that way for some time. Once all the regulations are put in place and Bitcoin becomes more mainstream, that is when the price of a single coin can explode upwards.
How To Purchase Bitcoin Using Mobile Apps
The first thing you must have is a Bitcoin wallet. The term wallet is exactly how it sounds, it’s a place where you will hold your money or in this case, Bitcoins. A very popular wallet widely used by many is called CoinBase. CoinBase allows you to turn cash from PayPal, Credit Cards, Debit Cards, and Bank Accounts right into Bitcoin.
One method of growing your money is by purchasing Bitcoin with cash and holding it. In the next 5 years, if the current trend of Bitcoin continues to go up, so will your money. Other ways to grow your money is to sell or exchange your coins by basing it off of market fluctuations.
If you sign-up with this CoinBase Promo link you will receive $10 in Bitcoin for FREE when spend over $100. Other available crypto-currencies CoinBase supports are Ethereum (ETH) and LiteCoin (LTC).
A very popular mobile app that has been making it very easy to send money to family, friends, and clients is called CashApp. With the click of a button, you can instantly send and receive money without having to wait 3 business days (traditional bank transfer speed). Due to the popularity and the extremely easy to use learning curve, the publishers of CashApp added a new feature for Bitcoin.
Now you can buy Bitcoin instantly with CashApp. When CashApp is connected to your bank account, you can instantly purchase Bitcoin in seconds. The limit right now is up-to $10,000 for each one-time purchase. The minimum purchasing limit is $1. If you already have CashApp you can start purchasing or selling Bitcoin today.
If your are new to this app, feel free to sign-up and download CashApp today! You will receive $5 when signed up.
ASIC Bitcoin Mining
One of the most popular methods (and still going strong today) ways to mining Bitcoin is by using ASIC (Application Specific Integrated Circuit Chips) hardware. ASIC mining is more powerful than personal computers because it’s sole purpose is for mining exclusively.
One brand that comes to mine that continues to dominate the ASIC mining hardware space is AntMiner. AntMiner (created by Bitmain) has flooded the market with powerful hardware capable of generating the user crypto-currency such as Bitcoin (BTC). The fastest unit to-date that offers a rate of 14TH/s (tera hash per second) is the AntMiner S9 unit.
By connecting your ASIC hardware to a shared Mining Pool, depending on your hash rate, you can generate a decent amount of BTC in your wallet. Below are all the popular ASIC mining devices available that will help you to get Bitcoins.
- Antminer S9 (14TH/s) | Read S9 Review
- Antminer T9 (10.5TH/s)
- Antminer V9 (4TH/s)
- GekkoScience 2PAC USB (15GH/s)
- Block Erupter USB (330MH/s)
Cloud Bitcoin Mining
A very popular way of growing your Bitcoins is through the use of Cloud Mining. Cloud mining allows you to use or rent out powerful machines (mining rigs) that will grow your money.
Genesis Mining provides you with mining rigs that are already set up and running. All you have to do is setup your account, choose a Bitcoin (or Ethereum/LiteCoin) mining plan to get started.
The benefits of cloud mining is very notable. You don’t have to rely on your own equipment in order to start mining Bitcoins. Mining can be very taxing on your electric bill, with cloud mining that is not an issue. Because you are using some one else’s equipment you will basically be paying a small fee for transactions or an upfront contract payment fee.
Genesis Mining allows daily payments out into any wallet of your choosing. They also support alt coins such as Ethereum (ETH) and LiteCoin (LTC).
CPU/GPU (Computer) Bitcoin Mining
If renting hardware using cloud mining is not ideal for you or if ASIC mining equipment is too expensive, then how about using something that you already have? A simple method you may be interesting in is mining Bitcoins with your very own computer. Depending on the power and speed of your computer, you can get a decent amount of hash power that will in turn give big daily profits. It’s important to note that if your computer is not compatible or has low-grade hardware, you will see little to no results.
MinerGate is a favorite and the best way to earn Bitcoins for Free. Other than providing support for Bitcoin, they allow you to mine other popular alt coins such as Ethereum (ETH), LiteCoin (LTC), Bitcoin Gold (BTG), and much more. The software provides you with a nice dashboard, showing you the activity of all your coins being mined in one location.
MinerGate I would consider the best option at the moment to aquiring free crypto-currencies. Bitcoin requires alof of CPU/GPU power, but smaller coins that are moving up in value only require a minimum amount of processing power. You can get away with mining with an average computer and still see results. Download free software here.
While MinerGate is the computer friendlier version for mining, another software which is popular amongst many is Nicehash. Their software only works for computers that are up-to-date and have the latest hardware for serious mining. With Nice Hash you can earn anywhere from $1 dollar a day to $15 dollars a day. It all depends on the power, speed, and capability of your computer.
If you are looking to purchase a computer specifically for mining, their is no time for penny pinching. You want to make sure you have a rig that is capable of high performance mining. For those who pay for their own electricity, be wary about the cost, this can affect your profit/loss ratio. Be sure to check out Nicehash’s profit calculator.
Powerful GPU/CPU’s to Choose From for Mining
Compound Interest Investing
Another way to grow your money is by putting your Bitcoins in an account that can grow. Almost like a savings account that incurs positive interest onto your money slowly overtime, compound interest investing will double your investment at a much faster rate.
Their are many companies on the internet that offer this service, but a lot of them end up being turn and burn websites. You want to always do your own research and check reviews before signing up with any company. In January 2018, Bitconnect has stopped their lending service due to pressure and regulations by a number of countries around the world.
USI Tech is very similar to Bitconnects previous lending platform when it comes to investing your money. USI Tech allows you to buy packages in Bitcoin.
Each package will run for a total of 300 days in which you earn about 1% daily interest. The more packages you purchase, the higher in return your daily profits. Unlike Bitconnect which pays you in cash, USI Tech pays you in Bitcoin. This is more beneficial, especially if the value of Bitcoin continues to increase. Another way to profit off of USI Tech is through their referral program. Refer others to join your downline and get more Bitcoin as your team grows.
The compound interest investing feature is no longer available for residents in the United States and Canada. If you live outside of these countries, services will work for you just fine.
Investing Your Spare Change into Bitcoin
Their is a mobile app on the market called Acorns where you can deposit your “spare change” (rounded to the nearest dollar) into a separate account. The transactions are so small that you won’t even notice it. Now you can do that with Bitcoin.
An app called the CoinFlashApp allows you to connect your Debit Card or Credit Card to your account and when payments are made, the spare change left over will be sent into your wallet. Example, you pay for a hamburger which costs $11.25, this amount will get rounded to the nearest dollar of $12.00, so .75 cents gets deposited to your wallet.
This method is a much easier way to receive Bitcoins. Your money will accumulate overtime as you continue to make purchases. Everyone uses their debit card/credit card for everything already. Why not invest in Bitcoin at the same time?
The CoinCashApp also supports another crypto-currency called Ethereum (ETH).
Another way to receive Bitcoin is by exchanging them from other cryptocurrencies. Bitcoin may be considered Gold in the crypto world, but another altcoins such as Ethereum and Neo is right on it’s tail.
For example, let’s say you have Ripple (XRP) coins or Bitconnect (BCC) coins in your Binance exchange account. Simply select the crypto coin you want to exchange for BTC, insert the value, then hit exchange. If you are new to crypto-exchange/trading platforms, you can follow this guide on how to use Binance Exchange.
If you live in the United States, three popular Crypto Coin Exchanges we recommend using is Binance, HitBTC, and Cryptopia. Out of the three, Binance is the more popular exchange platform on the web. The other two are excellent to have because they will exchange and hold coins that Binance doesn’t currently have.
Accepting Bitcoin As Payment
If you own a business that accepts cash, check, and credit cards, did you know that you can now accept payments in Bitcoin as well as other crypto-currencies? Online platforms such as WooCommerce gives you the ability to accept Bitcoin and Altcoin’s as a new form of payment. Other online eCommerce platforms such as Shopify will eventually follow suit as crypto-currencies continue to become more popular and mainstream.
If you want to accept Bitcoin offline, companies like BitPay offer a mobile app feature allowing you to accept payments from customers right through your phone or tablet device. Mass adoption for Bitcoin is the future, if you are a business owner it’s time to add crypto-currencies as another form a payment. If you have an online web store that uses WordPress or WooCommerce, then below are a few useful plugins you should consider.
Recommended WordPress Plugins:
- GoUrl Bitcoin Payment Gateway
- Blockonomics – WordPress Bitcoin Payments
- Mollie Payments for WooCommerce
Bitcoin Stocks To Invest In
If your on the fence about purchasing Bitcoin or looking for other forms of investment, you can always purchase stocks. Like Bitcoin itself, stocks go upward or downward. The list of stocks below provide an upward mobility mainly due to the massive rise of Bitcoin and other crypto-currencies. If the trends continue to rise, you can potentially more than double your profits.
CME Group (CME)
The CME Group is a mega exchange operator. They handle over 3 billion+ contracts with an estimated value of over $1 quadrillian dollars yearly all over the world. This stock looking to lead the pack when it comes to Bitcoin exchange and future contracts. As long a Bitcoin is healthy and growing, this is the stock to have.
Bitcoin Investment Trust (GBTC)
This stock “coincided” with the explosion of Bitcoin. This company purpose is to bring digital currency investments to small investors. GBTC provides you with the perfect opportunity to invest in Bitcoin without purchasing a single coin.
Overstock is an online merchant store that sells everything from kitchen accessories to jewelry and clothes. What makes this stock special is that it accepts Bitcoins as a form of payment. As the popularity of Bitcoin continues to grow, so will this stock.
A company that specializes in creating powerful GPU’s for computers and leading video game consoles such as PlayStation 4. Because of the rise in Bitcoin mining, Nvidia graphic cards have been flying off the shelves. As cryptocurrencies continue to grow, so will this stock.
Advanced Micro Devices (AMD)
Like Nvidia, AMD provides both GPU’s and CPU’s for computers and video game consoles. Because of the massive growth of Bitcoin, this stock continues to soar upwards. AMD will continue to grow as more cryptocurrencies continue to flood the market and become more mainstream.
Riot Blockchain (RIOT)
What powers data and transactions for Bitcoin and all other cryptocurrencies is Blockchain technology. If cryptos were to dissapear, the tech behind it will always remain, grow, and evolve. This stock option continues to shoot up at a tremendous rate and doesn’t look like it will stop anytime soon.
Like stocks or investing in other ventures, their can be risk in Bitcoin and all the other current and emerging crypto-currencies. But at the same time their is potential for a big return. By incorporating one or more of the strategies listed above, you have the opportunity to expand your new and existing portfolio with crypto-currencies.
Re-cap of services mentioned:
- CoinBase (Buy/Exchange Bitcoins, Litecoins, and Ethereum) Sign-Up Here.
- Binance (Exchange your Bitcoin and other cryptocurrencies) Sign-Up Here.
- Genesis Mining (Grow your Bitcoins, Ethereum, Litcoins by Cloud Mining) Sign-Up Here.
- MinerGate (Grow your Bitcoins, Dash, Litcoins by Mining with your own computer) Sign-Up Here.
Any questions on how to use Bitcoin or about any of the aforementioned services above, feel free to contact me or comment below.