Hello all,
While I wait for Amazon to give me the all clear on my associates account(I took too long to get them some affiliate money so they cancelled my account and I had to start the process all over again), I want to speak on the topic of Cryptos and where I am going strategy wise to gain as much capital as possible.
First of all, tell me if you would like to know more about the really basic things that I've been through, like how to get an account started with a crypto and how to trade on an exchange and everything related to that. I will do a series if there is interest.
I am also going to give you a serious tip if you start going down the road of speculation regarding cryptocurrencies. Build yourself a spreadsheet! lol. It didnt take much time for me to forget whether I had put such currency on such exchange and when sold or traded where it all went. There are about a half dozen well known currency exchanges out there and if you start speculating on ICO(Initial Coin Offerings), then they are another place your investment capital can go and grow.
On to the subject at hand. With the fork coming soon, most speculating is going into Bitcoin and out of altcoins until after the fork as shown by the 57% BTC(Bitcoin) dominance as of now on coinmarketcap.com.
There are multiple ICOs which is both good and bad(not seeing the forest through the trees), so tread wisely in that segment of alt currencies. Basically it comes down too your belief in the project and whether you are in it for the long run or the short.
So where am I at? Im in two ICOs, Bitcoin and Bitconnect(this is tough subject which I will address)
Ok so is Bitconnect a scam, ponzi scheme, pyramid scheme, etc.? Well it doesn't take a genius to figure the answer is yes lol. The kind of returns their bot returns to you are not sustainable in any way shape or form.
So at first I was like stay away. Then Bitconnect was in the top 20, then low teens, and now it is eighth in coinmarketcap.com with a 1.5 Billion dollar market capitalisation. So with all the negative in Bitconnect, I have to see some positive. This is changing lives for some people. So the addage if you can't beat em, join em appears to be correct in this case :)
Ryan Hildreth, who I follow on Youtube, posited that there is a possible lending scheme going on between Bitconnect and the exchanges, making what Bitconnect is doing viable. I would have to know that whales arent going to pull the plug on this to be totally comfortable. So again, tread lightly in this circle. It is sharkish and you can get burned. My point is, the money you would put in Bitconnect should be the kind of money you spend on the lottery, not groceries.
Bitconnect definitely avantages the richer people amongst us mere mortals(as it does in life normally when it comes to finances), so the more you lend to the ''bot'' the less its locked in for and there are tiers of bonuses:
The daily interest varies each day.
To get started in cryptocurrencies, if you would like to buy Bitcoin(recommended before the fork October 25th), as it allows you to get an exact amount of bitcoin gold), Ethereum or Litecoin, a common exchange starting people use is Coinbase:
https://www.coinbase.com/join/5954771724990504fa8bfbe5
This exchange also has a Wallet and Vault feature on the exchange. But if your investment gets to high ranges I would recommend a local hard wallet(see Mt Gox for why).
Also there is a referral program for Bitconnect, as I get a 7% referral. I would like to give it back to the first five people that use Bitconnect under me!
Here is the site so that you can do your research on this volatile crypto:
If you're interested, try it out with your 7% bonus:
https://bitconnect.co/?ref=paulduke
Thanks all and if there are any questions feel free to ask.
I will continue to speak to my journey and vision of being independently wealthy.
Cheers
I support Bitcoin and only Bitcoin but I will not pass up any free for cash at all and I'm kind of happy this is happening because it's been in the news a lot and a lot of people are starting to understand Bitcoin and be introduced to it
Totally agree @velourex. We are not at mass adoption, but there is definitely general interest. I took a student home in my Uber a while ago and she was in the know and had a story about a colleague that had lost their Bitcoin computer! After I dropped her off, I had an epiphany that the general public was really starting to get into this subject!