A review of the Changelly exchange platform

Changelly Review

A Review Of Changelly Wallet – Instant Cryptocurrency Exchange

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When it comes to cryptocurrency exchanges, only a few are regarded as trustworthy and reliable. Changelly is one of the few exchanges offering an easy interface for beginners to buy bitcoin and other cryptocurrencies as well as trade them. The platform has been around long enough. It launched in 2015 and over the time gained millions of users across the globe, boasting a monthly bitcoin turnover of cool 600,000 BTC. In this Changelly review, we will present the advantages and benefits of using the seamless platform.

There are many reasons why Changelly prides itself as a top cryptocurrency exchange, but it also experiences some drawbacks. Let’s go ahead and look at this platform, going into details to see how it works, fees charged, its security policies, customer support, pros and cons, and everything in between.

How Changelly Works

First things first! How does this platform even work? Well, transactions on Changelly begin with the digital currency of your choice. It’s not as complicated as other exchanges that target professionals, and everything on their website is well laid out.

When you visit Changelly, you will first see two main dropdowns (BTC and ETH) and a field to enter the amount of cryptocurrency you wish to exchange. You can choose from multiple pairs, including USD/BTC.

So, let’s assume you choose the USD/BTC pair. All you need to do is enter the amount in USD you wish to spend, and the system will automatically convert it into bitcoins. The exchange rate, fees charged, and estimated arrival time display on the right for your confirmation. Remember that the minimum acceptable amount is $50.

Dollar bitcoin image cryptocurrency exchange

Once you have confirmed the details, process to click “Next”. You will redirect to a page where you are required to enter your bitcoin address, where your bitcoins will be credited.

BTC address destination to send your bitcoins

Entered your bitcoin address? Good. Now hit “Continue”.  At this point, you are almost done. You will be asked to enter your phone number that’s linked to the card.  You will receive an automated phone call giving you a digital code. Listen to it and enter it. You might also be needed to check with your bank’s app or bank statement for the code.

Changelly Billing Address for account registration

Note: We choose a USD/BTC pair, because that’s what many people use when they want to buy bitcoins and kick-start their investment. If you already have BTC, ETH or any other supported cryptocurrency; you can use the same step and choose the appropriate pair. The only difference will be when it comes to the payments. After you enter the address where your digital currencies should arrive, you will know an address where you need to make the payments in terms of cryptocurrencies.

Do you need an Account to Operate on Changelly?

If you have gone through the section on how Changelly works, there’s one thing you might have noted – we didn’t take you through the registration process. Well, the answer is simple – Changelly doesn’t require you to create an account to use the conversion services. You might be needed to enter your email or sign up for Google +, Facebook or Twitter, but that’s all.

Start your new account on the Changelly.com registration page

However, even though it’s not a requirement to submit your personal information, you need to have a valid wallet to transact. Those who intend to use a bank account or card might also need to enter additional verification.

Changelly Fees

Considering the cryptocurrency market is a volatile one, most exchanges do not have a fixed rate, and Changelly isn’t any exception. If it chooses to have a fixed rate, then it would be forced to cover market risks. Because of such factors, the platform charges a certain percentage as commission for cryptocurrency to cryptocurrency trades, as well as a commission for credit/debit card purchases.

Here are their fees:

  • 5% for Simplex processing fee or credit and debit card purchases
  • 0.5% commission on crypto – crypto trades

Fees Image for Changelly purchases are at 5 percent

Currency Supported by Changelly

Compared to other cryptocurrency exchanges out there, Changelly supports more cryptocurrencies, running to more than 90 coins. And that’s not all. If you go to the Supported cryptocurrency page, the platform outlines the digital currencies with a brief of what they are and what they entail. This means that you can learn about the digital money you wish to invest in and when it established. Some of the top cryptocurrencies supported include Bitcoin, Litecoin, Ethereum, Ripple, Dash, Bitcoin Cash, Ethereum Classic, Monero, and Basic Attention Token, among many more.

Changelly Limits

If you are doing your first transaction on Changelly with your bank card, you will be limited to $50 USD. However, if you make another trade, your limit will be lifted to $100 USD. After a week since your first purchase, the exchange raises your limit even higher up to $500 USD. These limits, however, applies to residents based in Australia, Canada, and the U.S.

Those in the non-CIS-region or the EU have the same limit, but there’s one difference when it comes to the limit on the first transaction. They can spend $100 USD on their first transaction and up to $200 USD on their second (in four days). And although the platform doesn’t have a monthly limit, one cannot possibly transact more than six times within the first week.

Customers based in the CIS region (Kazakhstan, Armenia, Ukraine, Belarus, Russia, and Georgia) have a limit of $200 USD on their first transaction, which lifts in 24 hours. They can transact up to $3,000 in their first week and up to $10,000 in the first month.

Changelly Marketplace Limits for trades

How long will your Transactions Take?

Changelly transactions process within 5-30 minutes, on average. However, if it is your first time buying cryptocurrencies and intend on using a card, it might take longer for the verification and purchase process.

This average time is an estimate of how long the platform processes the transactions, but it doesn’t consider the blockchain time. You see, if for some reason the blockchain is overloaded as it happens with Bitcoin, your purchases could take longer. If this happens, there’s nothing you or Changelly can do about it – you need to be patient and wait for the pending transactions to complete.

Does Changelly have Maximum and Minimum Amounts

When making credit card payments, you will be required to enter $50 or higher. But in general, Changelly doesn’t have a maximum or minimum amount that you can transact, apart from the mentioned limits.

However, if you want to exchange cryptocurrency and intend to transact small amounts, it’s best to consider the blockchain network fees. Sometimes you might push your transaction through even without making any adjustments. But if the blockchain fees are high, you might lose all the funds.

Changelly Fund Security

So, what about the security of your funds? Sadly, Changelly doesn’t provide information regarding the safety of funds and their policies. There’s less to worry when it comes to security, especially considering that the platform doesn’t host users account or keep their funds. Instead of storing your funds on the platform, Changelly immediately sends your assets to your wallet the moment you make the purchase. But just like other cryptocurrency exchanges out there, you can use their 2FA authentication every time you sign in.

Changelly Customer Support

Customer support is an essential factor when it comes to running cryptocurrency exchanges. Since the whole thing is somewhat a new idea, it’s likely that many users will have a problem when transaction. It seems like Changelly understands this very well, judging from the support ticket system it has set up. When you send a ticket, you will receive a response within 24hr via the helpdesk software.

Changelly Customer Support screen

Changelly Trust

Changelly begins by the brilliant minds behind MinerGate, which is a bitcoin mining pool launched in 2013. Since its inception, it has established a partnership with many well-established wallets including Jaxx and Coinomi. Additionally, the platform boasts a user base of more than one million users. All these factors point out that Changelly is indeed a cryptocurrency exchange that can be trusted.

What’s Changelly Affiliate?

In order to offer an incentive to its users, the platform provides an affiliate program to those that share Changelly to their friends or family. Changelly gives a generous 50% of the revenue they get from your referral forever. Once you log in, you will have a referral link, which you can use to ask your friends to register through. Whether they make one transaction or several within a month, you get a share of their commission, permanently.

Features for Developers

Along with a primary exchange system, Changelly offers a few other tools for business owners and developers. These include:

  • Instant Exchange API: This feature allows you to add Changelly exchange functionality to your service.
  • Exchange Widget: This is just a widget that can embed in your pages
  • Payment Button: Just like the exchange widget, this is a tool that you can also embed on your site, creating a button for payment of altcoins.

Changelly Pros and Cons

Pros

  • Supports May Regions – The platform is based in Prague, Czech Republic, but accepts users from across the globe, including the US.
  • Fiat Currency Pairs – Along offering more than 90 cryptocurrencies, Changelly also provides fiat currency pairs for USD and EUR, making it convenient for first-time investors
  • Accepts credit card – The platform allows you to make payments using your MasterCard or Visa card, making it easy for you to acquire cryptocurrencies. However, for this payment method, you will be required to pay 5% commission or a flat fee of $10.
  • Beginner-friendly – Changelly has a simple interface that makes it easier for beginners to use.

Cons

  • Credit card limits – Although Changelly doesn’t have minimum and maximum limits it does have a limit of $50 on the first transaction for those using a credit card.
  • No cryptocurrency for fiat trading – While you can buy bitcoin or any other top cryptocurrency with USD or Euro, you can exchange the same for fiat currency
  • Limited payment methods – Changelly accepts credit cards and cryptocurrency payment methods. It doesn’t allow other means such as PayPal or bank wire transfer.
  • Transactions not instant – Purchasing cryptocurrencies on Changelly is not instant as is the case with other platforms such as Coinbase. You have to wait for around 5 to 30 minutes for the transaction to complete.

The Final Words

Compared to other exchanges out there, one thing we can agree is that Changelly is one of the most straightforward platforms when it comes to buying and exchanging cryptocurrencies. It comes with an appealing interface, doesn’t require you to submit your personal details to register an account, and doesn’t store cryptocurrencies. Better yet, the platform offers a good number of cryptocurrency pairs and a large coin selection. Although it has some drawbacks such as low credit card limits and fewer payment methods, it’s an excellent platform for those considering investing in cryptocurrencies. Get started here.

Is Litecoin A Good Investment?

Is Litecoin a Good Investment?

What You Need To Know About Litecoin (LTC) Before The Next Financial Crisis

Some call it the “Silver to Bitcoin’s Gold”; others call it the “Dark Horse of 2018”. Whatever name cryptocurrency investors give Litecoin, one thing is sure – Litecoin is going to be a beast!

The launch of Bitcoin, which was the pioneer of cryptocurrencies, gave software developers the chance to fork its original codebase, creating even better coins with improved features. Charlie Lee, the founder of Litecoin, saw this as a significant opportunity to disrupt the cryptocurrency world and come up with the mighty Litecoin.

The problems that Bitcoin experienced since its inception appeared to be solved. See, Litecoin addressed the issue of transaction time, processing transactions at the speed of 2.5 minutes per block, which is four times faster than that of its older sibling – Bitcoin.

But this isn’t the only reason why Litecoin is likely to be a giant, possibly overtaking other cryptocurrencies in terms of value and market capitalization to become one of the top (if not the top) cryptocurrencies. Let’s explore this digital currency, looking at what exactly it is, the technology behind it, and, of course, why it is among the best coins for investors.

The Story Behind Litecoin

The idea of Litecoin started in 2011. Charlie Lee, a software engineer, working at Google, came across a piece about Silk Road, the dark web marketplace, on the internet. The article explained about the inception of Bitcoin, which was the first decentralized currency. Though it had already launched, it was in its infancy stage.

The topic was intriguing, and Lee could not help but continue to familiarize himself with the technology behind Bitcoin – blockchain. He went back to the drawing table and used the Bitcoin source code to come up with a cryptocurrency known as Fairbrix. It didn’t work because of technical difficulties.

He never gave up. In October 2011, Lee initiated development of a new cryptocurrency, which involved a hard fork of Bitcoin, the leading cryptocurrency. The digital currency went live later that month. It was called Litecoin!

To make the playing field fair, Charlie Lee ensured that only 150 Litecoins were pre-mined as a result of successive blocks, including genesis block.

Technical Aspects of Litecoin

Forking Litecoin from the source code of Bitcoin meant that it would be identical to the pioneer cryptocurrency in many ways. But many differences made it exceptional and unique. Firstly, the design of Litecoin ensures that its blockchain can generate a block after every 2.5 minutes, a

number that’s significantly lower than the generation time of Bitcoin, which is 10 minutes. Processing four blocks at the same time that Bitcoin processes one block means Litecoin’s blockchain transactions are faster.

Secondly, while the total number of Bitcoins in existence is at 21 million, that of Litecoin is set at 84 million, which is practically four times the number of Bitcoin.

Thirdly, unlike Bitcoin which uses the SHA-256 hashing algorithm, Litecoin uses Scrypt algorithm as its proof-of-work consensus mechanism. Bitcoin mining is mainly dependent on miner’s computing power, while Litecoin requires some amount of memory and computing power to verify transactions.

Litecoin Price Activity

Litecoin is among the top 5 cryptocurrencies with a market capitalization of more than $7 billion. After its inception in 2011, there was no guarantee that the cryptocurrency would make it to the top, challenging its bigger sibling – Bitcoin. Towards the end of 2013, Litecoin proved every critic wrong. It reached a milestone of a billion dollars in market capitalization, attracting even more investors to put in their cash.

While the digital currency has recorded some impressive growth, it has come a long way. On April 2013, Litecoin was going for a mere $4.30. A year later, it was going for more than $12, which is three times the original price. It didn’t stop there. Bolstered by a sharp rise in global interest in 2017, Litecoin recorded its highest price ever, hitting a milestone of $372 in December.

The beginning of 2018 didn’t come with great news, however. Just like a majority of cryptocurrencies, the price of Litecoin dropped. But this will not likely be the trend for the rest of the year. Analysts conclude that we are set to see Litecoin reach fresh highs, as Charlie Lee continues to implement the project as stated in its roadmap.

Litecoin Price Chart

Features That Are Likely to Be Implemented by Litecoin

The Litecoin Foundation has a few initiatives lined up with the aim of increasing merchant adoption. Many Merchants have already come on board, including LitePay, GoCoin, Globee, Coin Payments, BitcoinPay, and BTCPay.

Now let’s talk about the two upcoming features that Litecoin Foundation is likely to implement and dramatically improve the efficiency of the network.

1. LitePay

LitePay is a payment processor that’s developed by Litecoin Foundation to help ease the exchange of government-issued fit and LTC currency from across the globe. By making transactions seamless, the system is designed to be straightforward and flexible, allowing any business to introduce Litecoin payments on their site.

Many businesses tend to shy away from accepting cryptocurrency payments because of their volatile nature. There’s also no clear framework that enables transactions in a flexible, fast and convenient way. These are some of the factors that drove Litecoin developers to create LitePay, a system that allows businesses to accept their cryptocurrency and convert payments into fiat using the current market data instantly. This helps solve the issue of speed and market volatility.

The integration of this system was expected to be done within the first months of 2018 but didn’t materialize. However, adoption of the feature is likely to be implemented in 2018, a move that will see the digital currency rise in value significantly.

2. Lightning Network

Just as the name suggests, Lightning Network is a technology upgrade that allows transactions to process at high speeds. Although the technology is more linked to Bitcoin and Litecoin transactions, it is not exclusive for the two – any cryptocurrency offering payment functionality can use it to allow instant micro-transactions.

Lightning Network is powered by smart contracts, which are more popular with Ethereum. The astonishing thing, however, is that Lightning Network will not need miners to validate transactions. All transactions will be processed offline, with Litecoin’s blockchain recording them once they complete. Brilliant, right?

Removing miners, who in this case are middlemen, means that Litecoin will be retail ready. You can walk into a store and purchase a bar of candy and pay around 1,000 Litoshi, and the transaction would process instantly.

Why Is Litecoin A Good Investment?

Looking at Litecoin and all that it promises, we can agree on one thing – Litecoin will be among the coins making waves in the cryptocurrency industry! But what are some of the things that give it the head start? Why Litecoin and not other similar cryptocurrencies in the market? Here are some convincing reasons:

1. Litecoin is like Bitcoin but improved

Litecoin is produced from the source code of Bitcoin, so in the real sense, it’s much similar to Bitcoin – the pioneer and king of cryptocurrencies. The digital currency can handle pretty much anything that Bitcoin can handle, only on a better scale thanks to the improved technology it boasts. Litecoin introduces bigger blocks and more coins, making it extremely easy to adopt.

2. Experienced software developers behind it

That’s right. Litecoin is backed by a brilliant mind – Charlie Lee, who was previously working with Google and Coinbase. In order to focus all his energy and time in developing Litecoin, Lee announced that he would depart from his day job, making a promise that soon the digital currency would make its way into exchanges and merchants. Being an experienced folk in the crypto space gives investors more confidence that the digital currency is destined for greatness.

3. Integrates LitePay for Merchants

LitePay is expected to come with low transaction fees and more convenience for both sellers and customers. Its commission is capped at 1%, which is three times lower than that charged by credit cards (3%). Moreover, its fees are lower when compared to other similar systems such as BitPay, which charge an average of 5%

4. Great store of value

Yes, Litecoin is likely to be widely adopted because of its use in the retail industry, but that is not the only reason investors are flocking to put their money on this digital currency. See, just like other cryptocurrencies, Litecoin is also a store of value, especially judging from the price gains it has recorded in the past few years. The coin is likely to hit record highs in value in 2018 and beyond.

5. Cheaper and easier to mine

Even though Litecoin is similar in design with Bitcoin, it takes a different path when it comes to the proof-of-work algorithm. Bitcoin mining is processor-intensive and requires expensive hardware to validate transactions. Litecoin mining, on the other hand, Litecoin mining can be done by less processor-intensive and cheaper GPUs. This encourages many people to venture into mining the cryptocurrency and earn profits.

6. Among the top cryptocurrencies in market cap

Litecoin is among the top five concerning market capitalization. It had once enjoyed a moment of glory after beating most cryptocurrencies to be ranked second, after Bitcoin. Litecoin has the potential to grow significantly, something that might be achieved in 2018 after the company implements its integrations.

If you would like to learn more about Litecoin, Bitcoin and Blockchain technology check out our comprehensive documentary list.

Bottom Line – A word for the Wise!

We’ve probably read it on the internet or heard it from the real investors – you don’t invest in any cryptocurrency; you invest in a coin with tremendous potential! When you look at the cryptocurrency market and analyze the majority of the coins, you will realize that not all have the potential to grow. Some have weak ideas; others have inexperienced people behind them, and others are downright useless. The useful ones also are few and cannot match.

If you want to invest in Litecoin, I would recommend checking out a reputable cryptocurrency exchange such as Coinbase or investing into an IRA or 401k Rollover with Regal Assets and/or Bitcoin IRA.

While Bitcoin is one of the most promising cryptocurrencies, we certainly can’t forget about Litecoin, which has enormous projects lined up for implementation. The cryptocurrency is similar to Bitcoin but comes with a number of upgrades to make it more convenient and easy to use. It processes transactions faster and its fees are incredibly low. If LitePay integration comes to reality, most retail merchants will be able to accept it and convert Litecoin to fiat currency instantly depending on the market value at that particular time. This beats the problem of price volatility and gives sellers and customers more confidence on the cryptocurrency. Whoever said that Litecoin is a “dark horse” waiting to take off is absolutely right!

How You Can Buy Gold With Bitcoin

How To Buy Gold With Bitcoin

The Best Companies For Investing In Precious Metals With Cryptocurrency

When you look at both bitcoin and gold as investment vehicles, you will note some striking similarities. Both tools are used as a store of value; they are mined (gold involves real mining, while that of bitcoin is simulated); and both are infinite. If you want to buy gold with bitcoin you have plenty of options.

Gold was the most popular asset for a long time until Fiat currency and now, Bitcoin. Its price gains have caused a lot of excitement, and everyone wants to have a share of gold to grow their investment. When Bitcoin started in 2009, not many people were interested in investing in it as its capabilities seemed like a tale back then. But with years of surviving challenges, especially from regulators, Bitcoin has proven to be a great investment tool, considering that its prices have always been hitting record highs.

But the story of bitcoin and other cryptocurrencies is not always a good one. Yes, the digital currency has provided a lucrative investment tool to many people, but its price volatility has left a good number of investors losing money as they cross their figures hoping that prices will shoot up again. Sometimes the prices recover and continue to rise; sometimes they don’t and probably take too long to record substantial growth. Now, this is the reason why analysts are advising investors to diversify their portfolio and go for gold because its prices are not as volatile and are far less speculative.

If you want to invest in gold and add it to your investment portfolio, you will be happy to hear that you can purchase the precious metal with the bitcoins in your wallet. That’s right! Depending on the corresponding dollar value of bitcoin at that particular time, you can buy gold from companies and hope that you will make some good money off it in the long term.

Want to know how? We are going to cover various companies, looking at how you can buy gold using your digital currencies from them and make your investment goals a reality!

Buying Gold with Bitcoin on Vaultoro

Vaultoro Website Home - Buy Gold With Bitcoin

Let’s start with Vaultoro because it’s one of the most popular platforms for purchasing gold with bitcoin. The benefit of the platform is that you can even choose to get the gold in physical form,

delivered directly to your doorstep. However, there are restrictions you need to know about the company before you deal with it. These are:

  • To initiate any transaction, you need to be fully verified by the company
  • You need to have a working number so that the staff can contact you in person
  • Gold will ship to the address specified during the verification process
  • You will incur the delivery cost
  • The minimum purchase amount is 100 grams

Now, here are the steps you need to follow:

Step 1: Visit the Vaultoro official page and click Sign Up at the top right corner of the page. You will be asked to fill in your details, including your email address and password.

Vaultoro registration page

Step 2: Once you are done filling in your details, click the confirmation button and register your account. Vaultoro will send an email to your address for verification purposes. Click on the email and proceed with the “Continue” button.

Step 3: Once you hit Continue, you will redirect to the Vaultoro Exchange page, where you can now begin verifying your account. If you wish to do some trading, though, you can proceed without necessarily confirming your identity, but you will have to deal with limitations to the services you can access.

Vaultoro Step 3 - Exchange Page

Step 4: On the dashboard, click Verify Now! And fill in all the details required, i.e., name, address, date of birth, and type of document you intend to use (passport, ID or other). When you finish, click Save.

Vaultoro Step 4 - Dashboard

Step 5: You will need to upload your documents to help process the verification. After clicking “Save” click “Choose File” and select what you want to upload from your computer. When the document uploads, do the same for the next part of “Bill or Bank Statement” Make sure the document you select is up-to-date.

Vaultoro Step 5 - Upload Documents

Step 6: Now, the verification process completes, and the ball is on Vaultoro’s court. The company will inform you of their decision via email, something that might take a few days depending on the number of applications. In the meantime, though, you can deposit up to 4 BTC per day and buy gold – but it’s imperative that you wait for the go-ahead after verification.

Step 7: Assuming you have been verified already, click on the Bitcoin Deposit/Withdraw on the dashboard and copy the address generated, which you can now use to send bitcoins from your wallet. The platform shows the status right below the transaction, showing you the number of confirmations in the blockchain so that you can know when it is complete.

Step 8: Your bitcoins have been credited to your account, right? Well, it’s now time to buy the gold! Click “Trade” on the dashboard, enter the number of bitcoins you intend to spend, and hit “Place Order.” When you are done, it’s time to wait for a trader to pick it. And yes, you can cancel your orders anytime in “Your Orders” page.

Buying Gold with Bitcoin on GoldSilver.com

GoldSilver.com home website

GoldSilver is a trusted dealer of precious metals, serving customers around the world for over a decade. When it comes to payment options, it accepts cryptocurrencies, making the process of buying gold with bitcoin simple, not to mention low-cost. You can acquire gold bars, gold coins or gold jewelry. Here are simple steps you can follow to own some gold if you have bitcoins in your wallet:

Step 1: Visit GoldSilver official website and click on the register button to create an account. Include your first and last name, country, email address, password and a working phone number.

GoldSilver Step 1 - Registration

Step 2: Once your account is ready, proceed to the “Buy Precious Metals” at the top of the page. The company also offers silver coins and bars, so make sure you select gold as your preferred option.

GoldSilver Step 2 - Buy Precious Metals

Step 3: You will be redirected to a page with lots of options on gold coins and bars, with each indicating the quantity and prices. Depending on the value of your bitcoins, choose the appropriate options and add to cart.

Step 4: It’s not time to make the payments. When you click on the cart, you will see five payment methods: credit or debit card, bank transfer, PayPal, personal check, and bitcoin. Select Bitcoin and continue with the order.

GoldSilver Step 4 - Make Payment Screen

Step 5: You will then proceed to page with an invoice for your purchase, which will also include a bitcoin address. Use this address to send bitcoins from your wallet.

Note: Once the order closes, you will be given only 15 minutes to make payments lest it will cancel automatically. If you make the payments, delivery can take between 1 to 2 business days, so don’t freak out if it goes beyond 24 hours.

GoldSilver can help you store the gold or have it shipped to you for a fee. If you are in the US and make a purchase of more than $499, you will receive your gold free of charge.

Buying Gold with Bitcoin on GoldMoney

GoldMoney Home Website

GoldMoney is also a legitimate platform where you can buy gold with bitcoin. The Company has invented a GoldMoney MasterCard that allows you to withdraw funds from ATMs that support MasterCard. You can also send gold to anyone in the world via the platform.

Here’s how to buy gold with bitcoin on GoldMoney:

Step 1: Start by creating an account with GoldMoney. You will need to select the holding type (Individual, Corporate, or Trust), and fill in your primary information as well as your email address and password.

Step 2: Once your account is fully set up, you will access the dashboard with navigation on the right highlighting various services, including Send Gold, Request Gold, Deposit, Redeem, Prepaid Cards, and Transactions.

Step 3: Since you will be buying gold with bitcoin, you will need to deposit some BTC first. So, click on the deposit option and select between one-time deposits of recurring deposit. Go with the One Time deposit, assuming it’s your first time to use the platform to purchase gold with cryptocurrency.

GoldMoney Step 3 - Deposit BTC

Step 4: From the displayed deposit options, select cryptocurrencies, and then choose bitcoin as the preferred coin. Copy the provided address and use it to send bitcoins from your wallet. The deposit will credit into your account after one confirmation. The system is that the transaction expires after 15 minutes if you don’t proceed with the payments.

GoldMoney Step 4 - Deposit Cryptocurrency

Step 5: Once you have your bitcoins, the rest of the process is a breeze. You just need to navigate to the option of buying gold, choose bitcoin as the payment option, enter the amount, and proceed to confirm the order.

Other Trusted Companies that allow you to Buy Gold with Bitcoin

Vaultoro, GoldSilver, and GoldMoney aren’t the only platforms that empower you to purchase gold with bitcoin – there are a dozen others online. Here are a few more companies you can also consider:

Advantages of Buying Gold with Bitcoin

Whether you choose to go with Vaultoro, GoldSilver, or GoldMoney, there are some key advantages you will enjoy with these platforms and the process in general. These include:

  • Low transaction fees – Imagine converting your bitcoins or cryptocurrencies to fiat currency and then using the money to purchase gold. The transaction fees will leave you with only a few bucks, assuming you are not getting much gold. With bitcoin transactions, you will pay less, and in most cases, you will incur a small fee, depending on the company you choose.
  • Convenience – Bitcoin is a digital currency, right? Well, this means one thing – all your transactions will occur online! You just need to register with your preferred platform, and place an order from the comfort of your home or office and the exchange will make it happen!
  • Fast transactions – When you initiate a Bitcoin transaction, there’s no intermediate here, so the company you are buying gold from will receive the funds quicker compared to using Visa or bank transfers. If they verify your transaction, you will be lucky to get your gold in the shortest time possible.

Is Bitcoin Likely to Replace Gold as the Best Long-Term Investment Tool?

Well, this is a contentious issue that many people have debated. Yes, both bitcoin and gold are long-term investment tools, but it’s unlikely that they have the same staying power. You see, with bitcoin, the market is very speculative because of its volatile nature. Gold price moves differently. Yes, the cost of this precious metal often changes from time to time, but it’s less speculative and volatile.

Bitcoin is considered both as a store of value and digital currency. Gold, on the other hand, is a resource of money or an asset. There is a significant difference between them if you project their future value. But here are three reasons why Gold is likely to remain an all-embracing investment:

  • It’s a finite resource – That’s right. Until humans find ways to clone this precious metal, it will be valuable. The supply is decreasing considerably, so the prices will always go up. And while the bitcoin community trusts that only 21 million of the digital currency will exist, it’s not enough proof to believe that advanced technology will not be used to create more in future.
  • It is risk-averse – Forget about the robust tendencies of gold during inflationary periods. Gold has always proven to be risk-averse, especially when compared to bitcoin! It has a physical value that has existed since civilization and not a conceptual value as it is the case with bitcoin. If the bitcoin market crashed as some people believe, you’d still have your gold.

Conclusion

Both Bitcoin and Gold are sound investments, especially for long term. And when you buy gold with bitcoin, you are directly swapping something that intangible for something that is tangible. If you want to broaden your portfolio and include gold in your list, you don’t have to use fiat currency or sell your bitcoins for real cash and then buy gold. As you can observe from the steps outlined above, you can choose either of these platforms and make your purchases using the bitcoins in your wallet. Simple and easy!

P.S. Want to learn how to invest in Bitcoins in Dubai? Check out our comprehensive guide here.

A Coinbase Review | Is Coinbase Safe

Coinbase Review

A Comprehensive Look At Coinbase – Is Coinbase Safe?

Coinbase is easily one of the most popular exchanges available out there as it offers a simple-to-use interface for inexperienced users to buy and sell top cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The platform allows you to use your credit card or bank account to make payments and choose to have a USD wallet or a cryptocurrency wallet. Moreover, it’s backed up by exceptionally high-security standards to ensure that clients’ funds/crypto doesn’t fall into the wrong hands.

To help you learn all about Coinbase, we are going to dig deeper into the exchange, looking at what it offers, security, its wallets, how to buy and sell cryptocurrency, security features, and everything in between.

Coinbase in a Nutshell

Coinbase Main Image

Founded in 2012, Coinbase is a cryptocurrency exchange that boasts more than 10 million customers. It was started in San Francisco, California by Fred Ehrsam and Brian Armstrong, gradually growing in popularity to expand globally, accommodating 32 countries. With the assistance of venture capital from famous investors, the exchange has managed to dominate the cryptocurrency trading industry, taking the lead position in many regions.

Unlike other exchanges, Coinbase complies with laws and regulations by different regulatory and governing bodies globally. Users on the platform don’t transact anonymously; every transaction is traceable to a user’s account should one use the platform illegally. Some of the bodies the platform comply amidst in the US include:

  • Registration with FinCEN
  • State transmission laws
  • Bank Secrecy Act
  • USA Patriot Act

Ease of Use – Perfect for Beginners!

Perhaps one of the factors that have contributed to the immense popularity of Coinbase is the fact that the platform is beginner friendliness. The website exhibits a simple design, making it extremely easy for new traders and investors to purchase cryptocurrencies.

When you navigate further on the Coinbase website, you will also realize that finding information on wallets is a breeze. The platform allows you to create numerous wallets, giving you an opportunity to acquire and organize some of the top cryptocurrencies hassle-free.

Let’s be honest: finding an exchange that allows you to purchase cryptocurrencies using a credit/debit card is not easy, and even if you do –the process is a nightmare! Well, not for Coinbase. The exchange allows even new users to purchase bitcoin and other cryptos using their cards or bank accounts and receive them instantly. And there’s more; if you wish to sell your crypto instead, the process is as comfortable as purchasing.

Available Cryptocurrencies

Most exchanges out there accept a myriad of cryptocurrencies, including the top digital currencies and altcoins. Well, sadly, Coinbase doesn’t fall into that category. The platform only supports four cryptocurrencies: Bitcoin, Bitcoin Cash (added in December 2017), Ethereum, and Litecoin.

Most people see this as a good move, especially when it comes to beginners. Most new investors are not looking to scroll through the thousands of altcoins around, but only to put their money on the most popular cryptocurrencies with high market capitalization. Coinbase, however, is open to additional cryptos is the future after reviewing them critically.

Coinbase Accepted Cryptocurrencies

Fiat Currency Support

Here is where Coinbase beats most of its competitors. Apart from accepting deposits on cryptocurrencies, the platform also supports fiat currency. You can deposit your money into the platform’s wallet and use it to buy cryptocurrencies. Alternatively, you can sell your cryptocurrencies in exchange for fiat currency.

Currently, Coinbase supports GBP, SGD, CAD, EUR and USD fiat currencies.

Payment Methods

There are many ways you can use to buy bitcoins and other cryptocurrencies on Coinbase, something that gives it an advantage over other exchanges

When it comes to purchases, you can either use:

  • Credit/debit card or
  • Bank Transfer

If you want to sell your cryptocurrencies you can choose either:

  • Bank Transfer or
  • PayPal

Coinbase Payment Methods

Coinbase Fees

Coinbase fees range from 1.49% to 3.99%, which depends on the payment method you choose as well as your host country. Some people might argue that this is considerably low compared to other exchanges out there, while others might claim the maximum that’s charged on credit card is a rip-off.

Coinbase Fees

To help you understand about Coinbase fees, let’s break down their charges:

  • US-based Users – User’s in the United States are charged a $1.49% fee for purchases made using bank transfer. This transaction is, however, not instant. The trade settles anywhere from 5 to 7 days. If they use a credit card, they will occur a 3.99% fee, but the cryptocurrencies will be deposited in their accounts instantly.
  • Europe-based Users – Customers based in Europe can purchase cryptocurrencies using SEPA bank transfers and get charged a 1.49% fee. However, unlike US bank transfers which take longer, those done with SEPA bank are typically settled within 1 – 3 business days. The charges applied for credited cards are still 3.99%.
  • Sending Crypto User-User – If you send cryptocurrencies to another user (limit set at 0.001), you won’t get charged. Coinbase covers miner’s fees, whether you are sending the coins to another user on the same platform or any other wallet.

Transfer Limits

Coinbase has strict limits as to how much you can transact on the platform. The trade limit depends on your verification status, your location and payment method.

For instance, verified customers based in Europe can only transact up to 30,000 Euros. Those in the U.S. are likely to be slapped with these weekly limits:

  • $50 maximum for purchases via credit card
  • $5,000 maximum for purchases via bank accounts
  • $50,000 maximum sells using any payment method

Get started with Coinbase here.

How To Use Coinbase Review: Buying and Selling Cryptocurrencies

Whether you want to purchase Bitcoin, Ethereum, Litecoin or Bitcoin cash on Coinbase, you will love the process. It’s easy and straightforward, provided you remain based in any of the 32 supported countries.

If you want to buy cryptocurrencies on the platform, all you need is to set up an account with the platform and fill in all the required details: first and last name, email, and password. You will then be required to select your account type (individual – if it’s for your personal use, or business – if you intend to purchase for corporate). Coinbase will ask you to verify your phone number, after which you can proceed to set up your payment methods.

Once your account is set up, you can then proceed to the Buy/Sell section and choose your preferred digital currency, and then the payment method (use one that you already set up). Hit Buy and your coins will credit to your account. If you use a credit card, then it will be instant. If you choose the bank account option, you might want to wait from 5-7 days (for those in the US) or 1-3 days (for those in Europe who used SEPA).

When it comes to selling your cryptocurrencies, the process is as simple as buying. It’s the vice versa. You just hit the Buy/Sell option and then select the Sell tab, filling in all the required details: amount, when to debit coins from, and payment method. For this option, your payment is limited to PayPal and bank transfer.

Coinbase Security

The nature of cryptocurrency transactions calls for utmost security. You see, although each transaction is trackable on the blockchain network, the identity of the end user (outside Coinbase) remains anonymous. Coinbase understands this issue very well and doesn’t take it lightly. It goes ahead to put into place extreme security measures to ensure that customer funds remain protected.

Coinbase enjoys the backing of trusted financial investors and venture capital by prestigious institutions and banks, which means that it cannot compromise on security. To keep users’ cryptocurrency and funds safe, it utilizes four key tactics:

  • 2FA Authentication – Coinbase employs 2FA authentication to ensure that no unauthorized persons can access an account. You can choose between Google or phone number authentication, whereby you are sent a code every time you try to access your account.
  • Coinbase Vault – If you wish to store a vast number of cryptocurrencies you can use a Coinbase vault. Digital currencies stored using this means stay protected over multiple layers of security – just like it happens on the blockchain network – and all have to confirm your request before you can be allowed to withdraw. The entire process could take approximately 48 hours.
  • Multisig Vault – This option is also for the substantial investors who intend to keep their digital assets secure for a long time and have the control over their funds. It uses three keys: one stays encrypted with your password you are allowed to hold, another becomes shared, and the last one remains with Coinbase. If you want to initiate any transaction, your key and any of the remaining two can be used.
  • USD Wallet – If you want to keep your funds in dollars and not cryptocurrencies, you can do so on Coinbase. US-based users are allowed to use a USD wallet, which is insured by FDIC for up to $250,000.

Coinbase Privacy

In a bid to provide users with a stable and reliable platform to trade cryptocurrency, Coinbase works closely with regulatory bodies and governments to comply with laws and regulations in the industry. It follows standard international financial practices, including KYC, AML and Anti Money Laundering. This regulation, therefore, means that all users on the platform don’t operate anonymously.

To become a member of Coinbase, you are required to fill in all your details, including name, phone number, email address, and additional items upon verification. Although the Coinbase promises to keep all this information in safe hands, it can disclose it to regulatory and governing bodies if there need be.

And there’s more. Considering that Coinbase retains your IP address and personal information, it can track your balance or transactions, confirming if or not you are not laundering money. Although this move has had a lot of criticism lately, the exchange argues that it’s crucial to keep the platform clean and away from nefarious characters.

Coinbase App Review

If you want to buy or sell cryptocurrencies on Coinbase, you don’t have to log in to your account on your laptop or PC, no! The platform has a fully functional application that is supported by Android and iOS devices. The app allows you use just about any features on the platform, from buying and selling cryptos to adding your preferred payment methods to verifying your contact details and identity.

Countries Supported by Coinbase

Unfortunately, Coinbase isn’t available worldwide. As of this writing, the exchange supports 32 countries, among them including Singapore, United States, UK, Canada, Austria, Portugal, Slovakia, Spain, Switzerland, Netherlands, and Spain. Coinbase is optimistic that it might continue to add more countries in the future to allow more people to access their services.

Coinbase Customer Support

When it comes to customer support, Coinbase has been doing pretty well in the past few years. It responded promptly to emails, with a wait time being 24 – 72 hours. The impressive customer support is, sadly, not there anymore. Although the staffs eventually respond to queries, some users believe that the time taken could be better. Some emergency situations demand longer than 72 hours to be addressed, with some people claiming to get automated replies. There have also been complaints about an increased suspension of accounts, affiliate rewards abuse, and blockchain patents.

There isn’t a single business out there without flaws, especially when it comes to customer service. The delays could be due to the high number of users that are signing up for the exchange or many tickets in the queue.

Coinbase Pros and Cons

Pros

  • Extremely easy to use
  • Incredibly high-security measures
  • Complies with US regulators and governing bodies
  • Speedy transactions – buying and selling crypto
  • Good reputation thanks to its trustworthiness and reliability
  • Provides a wide range of payment options
  • Moderate fees

Cons

  • Complaints about poor customer services
  • Doesn’t uphold user anonymity
  • Coinbase wallet is not as secure compared to a dedicated cryptocurrency wallet

Conclusion

Although Coinbase has its share of challenges, many agree that it’s a great exchange where new and experienced users can purchase cryptocurrencies. The platform has invested a lot to ensure the funds of customers are safe, giving individuals and businesses a chance to buy and sell cryptocurrencies. And when it comes to the payment methods, you have several at your disposal, including using your credit/debit card – which is a plus compared to other cryptocurrency exchanges out there.

How To Invest In Bitcoin

The Definitive Guide To BTC Investing

Bitcoin has come a long way. Once upon a time, it was trading at only $0.10. On February 2011, the digital currency surpassed the historic milestone of $1, hitting record highs over the years to reach $19,000 in December 2107. You know what this means? Well, if you invested $1,000 in 2011 you would have been $19 million richer in 2017. Crazy money, right? 

2017 was the best year for bitcoin so far, with many people making a fortune from their investment. But hey, analysts believe that the party for bitcoin is just getting started, so it’s not too late to get your feet wet. If you are looking to invest in bitcoin this year, don’t worry because we are going to guide you on how to invest in bitcoin and join the lucrative cryptocurrency market, along with some helpful tips to keep you going.

Bitcoin Price Graph

But before we get to the investment tips, perhaps its best we start by learning a few things about bitcoin, what it entails and, of course, some facts about it.

So, What Is Bitcoin?

In simple words, Bitcoin is a fully decentralized digital currency that allows parties to transact without necessarily involving a third party. It was invented in 2009 by Satoshi Nakamoto, a pseudo for an individual software developer or a group of people, whose whereabouts are not known even today.

Bitcoin transactions between peers are direct and based on the blockchain technology. When a transaction is initiated, it’s broadcasted on the blockchain network and stored on a public ledger, which helps to ensure transparency and integrity of the digital currency.

You might ask yourself, how are new bitcoins generated? You see, with fiat currency, a government makes the decision of printing and distributing its paper currency. Bitcoin isn’t controlled by any government or central bank, so new bitcoins are generated through mining. This is a process through which transactions/blocks in a network are validated. Miners on the network contribute their computer power to solve complex algorithms and are rewarded with new bitcoins.

Mining bitcoins is costly as it involves expensive hardware and incredibly high electricity costs. During the first days of bitcoin, one could easily use their laptop or PC to mine the digital currency, but with time it has become more difficult, requiring a lot of energy and resources to mine. Considering everything involved, people no longer see bitcoin mining as a profitable venture, unless you intend to do it on a large scale, are based on a country where electricity cost is low, or have a huge budget to purchase and set up the hardware.

A Simple Introduction To How Cryptocurrency & Bitcoin Works

Thanks to cryptostache.com for this handy infographic

Interesting Facts about Bitcoin

Here are some facts about Bitcoin that you need to know about:

  • Bitcoin was the first cryptocurrency, which is perhaps why it still dominates the cryptocurrency sphere
  • It’s a payment solution just like PayPal or Payza but eliminates the huge fees associated with typical bank transfers
  • Bitcoin is limited to just 21 million coins
  • Bitcoin transactions can be traced on the blockchain network as they are fully transparent
  • The digital currency is fully decentralized, meaning that it’s not controlled by any central authority like it’s the case with fiat currency. No government or central bank influence!

How to Invest in Bitcoin: Buying and Selling Bitcoin

First things first – you need to set up a wallet to store your bitcoins!

There are different kinds of wallets out there, ranging from paper wallets to desktop wallets to hardware wallets, but being a beginner, it’s highly recommended that you start with an online wallet since it’s easier to use and access. Some of the common options include Blockchain.info and Mycelium wallet. For this case, however, we are going to take you through the Coinbase wallet, considering that it’s one of the most convenient options since it allows you to buy and sell bitcoin with your credit/card or bank transfer.

Setting up an account with Coinbase couldn’t be easier. Here’s how to go about it:

Step 1: Go to the Coinbase official website and click the tab written: “Get Started.”

Coinbase Main Step 1

Step 2: Fill in the details as required. Write down your first names, an email address, and a password. Ensure that the password is strong enough and includes both letters and digits for security purposes.

Coinbase Registration Step 2

Step 3: Coinbase will send you an email containing a link for verification. Click on the link and make sure that you verify your account. You might be asked to fill in your phone number for 2FA verification, so ensure you use a working line.

Coinbase 2FA Verification Step 3

Your Coinbase wallet is all set up and ready to use. But hey, you don’t have the bitcoins yet, do you? It’s now time to purchase the digital currency through the same platform. Coinbase accepts Credit/debit cards and bank transfer when purchasing cryptocurrencies, and bank transfer and PayPal when selling the same. Assuming you intend to use credit card/debit card, which is one of the most popular payment options, here’s the next step:

Step 4: Navigate to the Account settings page and click on the Payment Methods tab. You will be given the three payment options we mentioned earlier, so you need to proceed and select the Credit/Debit card option.

Coinbase Payment Method Step 4

Step 5: You will be redirected to a page, where you’ll be required to enter your card information, which includes card name, card number, expiry date, CVC number, and zip code. A confirmation will appear which now lets you proceed with your purchase.

Note: You will be asked to provide photo ID verification by uploading selfies of yourself holding the credit card. You need to remember that this payment option only allows you to purchase up to $250 worth of bitcoins daily.

Step 6: When you hit the “Buy Bitcoin” tab, you will be taken to a page where you are to fill out information as to how many bitcoins you intend to buy, the payment method, and the wallet where the bitcoins will be deposited (choose My Wallet). Click “Buy Bitcoin Instantly” and viola – you bitcoins will reflect in your wallet! Pretty easy, right?

>> Don’t have a Coinbase account yet? Sign up here <<

Selling Your Bitcoins

Hopefully, the price of Bitcoin has skyrocketed and you’ve made some profits on your investment. It’s now time to cash out, converting the bitcoins in your Coinbase account to fiat currency. You can sell the bitcoins in two ways:

  • Using an online marketplace such as Coinbase – Coinbase allows you to sell your bitcoins instantly, and the process for doing this is as simple as buying. All you need to do is navigate to the Sell page, enter the number of bitcoins you intend to sell, choose your wallet (typically your bitcoin wallet), choose the account you want the money to be deposited (bank account or PayPal), and confirm the order.
  • Selling bitcoins person to person – There are various platforms that allow you to connect with buyers and sell your bitcoins using your preferred payment method. One of the most popular sites is Localbitcoins. You can either advertise as a bitcoin seller, waiting for interested parties to contact you, or just go for people willing to buy. It’s best that you first register an account with Localbitcoins so that you can benefit from the site’s escrow services when making your transactions. And yes, the general safety rules also apply when transacting with strangers on the internet.

How to Store Bitcoins in a Secure Wallet

Exchanges provide a great platform to purchase bitcoins and exchange them for other cryptocurrencies but are definitely not the best places to store them. In the past, we have experienced massive hacks on cryptocurrency exchanges, with the most recent being Coincheck, where hackers made away with more than $400 million worth of cryptocurrencies. If your exchange ever suffered such an attack or experienced an account suspension, all your investment would go down the drain. A good strategy is to open a bitcoin wallet and send everything thereafter purchase.

A wallet can either be online based (hot wallet) or offline based (cold wallet). Each of these wallets has their pros and cons, and your choice depends on whether you want to get quick access to your cryptos regularly and the number of bitcoins you wish to store.

Online Wallets

Most online wallets come with an easy-to-use interface and provide a quicker access to your bitcoins. However, their connection to the internet makes them attractive to hackers, which is why you shouldn’t store large amounts of bitcoins on such.

If you are just getting started with bitcoin and want to begin with small amounts, there’s no need to go for an offline wallet. Start with a web-based wallet, such as blockchain.info or Coinbase itself. If you are going to use Coinbase, make sure you go with its multi-sig wallet or Coinbase vault wallet for utmost security.

There are also mobile wallets, which by definition are online based. These provide a wide range of features to improve security and usability. The best thing about these wallets is that you can access your bitcoins whenever and wherever using your mobile device. To protect your digital assets, ensure that you use 2FA when accessing the wallets. The danger about mobile wallets is that your cryptocurrencies can be insecure if you happen to lose your device or it’s attacked by a malware, keyloggers or viruses. Good examples of mobile wallets include JaxxBreadWallet, Mycelium, and CoPay.

Offline Wallets

Offline wallets are certainly the most secure, and best for those looking to store a large number of bitcoins for long-term. Keeping your digital assets offline means that they can’t be accessed by hackers or compromised by keyloggers and the likes.

Let’s start with desktop wallets. Yes, they are online based at first, because they involve downloading software, but storing the bitcoins is completely offline. They are fairly easy to use, but access is limited to a specific computer/laptop where the software is installed. Good examples of desktop wallets include Exodus and Armory.

Ledger Bitcoin Hardware Wallet

Grab your own Ledger Nano S at ledgerwallet.com

Another kind of cold wallet is hardware wallet. This is the most secure way to store a large number of bitcoins. Here’s it works: you purchase an external storage device specifically created for storing bitcoins. Three great examples are Ledger Nano STrezor and KeepKey. You connect it to your PC and transfer all your bitcoins to the device. Some of them might come with a small screen to make the operation easier. The downside about these wallets is that they are cumbersome for new users. The hardware is also hard to come by because they are often sold out, so when you get a chance to purchase one, don’t hesitate.

Another wallet that matches the security of its hardware counterpart is the paper wallet. It’s basically a document with information about your bitcoin’s private keys. It’s hacker-proof and no viruses or phishing attacks would compromise the security of your digital assets. You can get one from BitAddress.org.

Note: Whatever option you will go for, keep your private key PRIVATE! Do not disclose it to anyone whether online or offline. Think of it as your banking pin. Most phishing attacks target the private key so that the people behind them can try and access your wallet.

When is the Right Time to Invest in Bitcoin?

Investing in bitcoin can be quite tricky, especially when identifying the right time to get in. You see, the cryptocurrency market can be volatile, with prices moving up and down on daily basis. Frankly, there isn’t the “best” time to buy the digital currency. But as it is with any other similar market, it’s best to buy bitcoin when there’s a dip. Remember that, though bitcoin is expected to grow in value, the prices are purely based on speculation. If your investment goals are for long-term, it’s best to get in early enough.

Investing Bitcoins in an IRA or 401K

The Internal Revenue Service (IRS) ruled that bitcoin and other digital currencies have an equivalent value in real currencies, which means that they can be used for services or purchasing goods. So this prompts a major question – can you fund your 401K or IRA with bitcoins?

Well, the IRS is yet to specify rules when it comes to bitcoin retirement plans, but since it ruled that digital currencies have an equivalent value in real currencies, it’s safe to have a 401K or IRA bitcoin investment.

As bitcoin continues to gain greater acceptance across the world, there’s a good chance that its value will continue to grow. This makes it a great option to fund your 401K or IRA. In fact, having a bitcoin 401K or IRA means that you are invested in non-collateral assets.

As it’s the case with other investments, no one can accurately predict the actual value of bitcoin in the future – it’s purely speculative. But under the circumstances we are in today, your 401K or IRA bitcoin investment could be very profitable in the long-term, especially factoring in tax savings.

Here’s how it works:

A bitcoin 401K or IRA works pretty much like the traditional IRAs. You roll over your securities and use the funds to buy Bitcoins. You have two options when it comes to this kind of investment: one, you can go for a Roth IRA with after-taxed assets (if you are under 70 1/2 years), or a traditional IRA with pre-taxed assets.

Just like 401Ks or IRAs in collectibles or precious metals, bitcoin IRAs are handled through certain custodians. As a plan participant, it’s your choice to pick the investment vehicle that suits you best. But ensure you only go with accredited providers who will make your investment dreams in a reality. Learn more about investing in Bitcoin through a Roth IRA or 401k retirement account here

FREE Guide on Bitcoin IRA Investing

What you need to know before Investing in Bitcoin

Investing in bitcoin can be a lucrative venture, but there are some risks involved. Before you can invest your hard-earned dollars in the cryptocurrency, here are some pointers to keep in mind.

  1. Invest within your means

Just as mentioned earlier, the prices of bitcoin are purely based on speculation, so it’s only wise to invest the way you can afford to lose. Being the risky investment it is you shouldn’t invest your life savings with guarantees that you will make good money on a certain period. Have a clear investment strategy and commit some percentage of your earnings to it. Chances are that things will go to your favor, but if they don’t, you won’t end up financially depressed.

2. Think long-term, not short-term

Investing in bitcoin is not for the faint-hearted. The prices of the cryptocurrency can be $1,000 today and $700 tomorrow. It has happened before. If you are looking at bitcoin as an investment tool, it’s best to think long-term rather than short-term. Holding your coins for longer might yield better returns than just cashing out when prices spike.

3. Buy your bitcoins using dollar-cost-averaging

Assuming that you are looking to invest in for the long term, don’t buy a huge number of bitcoins in one trade. As mentioned earlier, the prices of this digital currency are extremely volatile, so spreading out your purchases over days or weeks could be helpful. If anything were to go wrong, you wouldn’t lose all your investment. Learn how to read charts and analyze prices to predict just when the right time to buy is.

4. Don’t fall for seller scams

There are lots of scams around that re involved with bitcoin. The fact transactions use QR codes and users are anonymous, many dodgy people have come up to take advantage of unsuspecting investors. Don’t just buy your bitcoins anywhere – use reputable exchanges such as Coinbase and Localbitcoins.

In case you need another option, a GREAT alternative to the Coinbase exchange is Changelly.

Conclusion

Since its inception, Bitcoin has been a blessing to many investors. In 2009, it was just a budding idea and those who took the bold move to commit some money to it were rewarded handsomely. The price of bitcoin is expected to grow over time, especially now that it is receiving the much-needed mainstream attention. If you are looking to join the bandwagon and invest in the cryptocurrency, it’s never too late. However, as a beginner, you need to be very careful as the bitcoin market is extremely volatile. While bitcoin is no longer profitable and trading requires you to learn all the ins and outs of the bitcoin market, you can buy the digital currency and hold it in a secure wallet, hoping that the prices go to your favor. Think of it as a long-term investment and only use reputable platforms for your dealings. Who knows, this could be the best decision you will make in 2018!

P.S. Are you looking for more useful resources to help you get started with Bitcoin investing? Check out our resources page for more helpful info.

Why Bitcoin Is Valuable And Will Be Part Of Your Future

With the recent success in cryptocurrency, more and more people are looking for ways to start investing. And for a good reason too. As crypto and Bitcoin, in particular, begins to prove its power, there is a higher possibility that someday traditional currency will be replaced entirely.

And the fact that Bitcoin had gone from around $1000 to $15000 in one year alone shows how much faith people have in crypto.

As such, it is essential for newcomers to do research and start investing early on because it will definitely be part of your future.

The following are a few reasons why crypto will become more and more popular. Make sure you learn how you can start investing before its too late.

Privacy and Safety

Unlike traditional currency, crypto is completely decentralized similar to gold. This means that it is not controlled by a single person or government, but is instead regulated by the market.

Some of the best cryptocurrencies such as Bitcoin ensure that the value of Bitcoin is determined by the people; this makes cryptocurrencies like Bitcoin, Ripple, and Litecoin so popular.

Also, cryptocurrency is almost impossible to counterfeit, meaning that the value of cryptocurrency is not negatively impacted by fake currency in the market.  

Transactions are also extremely secure and anonymous, meaning you can buy and sell things without worrying that someone is watching you. These transactions can take anywhere from a couple of seconds to a few minutes.

How to Start Investing in Bitcoin and Litecoin

More traditional cryptocurrencies such as Bitcoin and Litecoin can be traded on any of the major cryptocurrency trading platforms. Coinbase and GDAX are the most popular crypto trading platforms, however.

Though both platforms are run by the same entity, they are quite different from each other.

Coinbase is perfect for beginners as the interface is extremely easy to understand. Through Coinbase you can purchase four major cryptocurrencies, view charts regarding their price trends, and create “wallets” that allow you to store and send cryptocurrencies.

GDAX, on the other hand, is a bit more complicated regarding usability but offers much more in-depth information. GDAX also has lower fees associated with selling and buying cryptocurrencies. So if you’re someone who is familiar with trading, GDAX is probably the better site for you.

Exchange between Bitcoin and Litecoin on the Lightning Network with Fiat currency

How to Start Investing in Other Cryptocurrencies

Though Bitcoin was the first cryptocurrency to be started all the way in 2009, there have been many alternative cryptocurrencies that have been made. People have created alternative coins, such as Ripple and Skycoin to correct issues with Bitcoin.

Skycoin, touted as a top cryptocurrency to invest in, offers faster transactions speeds, is even more secure than Bitcoin, offers greater privacy, and is one of the emerging coins that are predicted to succeed in 2018. On top of this, Skycoin and other altcoins have a lower price point than Bitcoin, making them great investments to get in on early.

These altcoins cannot be traded on Coinbase but can be bought and sold on other crypto trading platforms. Right now, Cryptopia is one of the most popular trading platforms for these alternative cryptocurrencies. If you are in the United Arab Emirates, which is a cryptocurrency-friendly jurisdiction, this guide on buying bitcoins in Dubai will come in handy.

Other Ways of Getting Cryptocurrency

If you’ve heard about cryptocurrency, you probably heard about “mining.” This is a method for people to get “free” cryptocurrency in exchange for the time and energy they put into verifying cryptocurrency transactions.

The way this works is that each transaction of a cryptocurrency like Bitcoin has a virtual record. This record of a single transaction is called a block. Blocks are then added to a chain of past transaction to create a blockchain.

To verify all of this transaction, users solve complex algorithms by using mining rigs. Usually, mining rigs take a lot of energy and verifying transactions takes a lot of time. Because of this, individuals that successfully verify a transaction are awarded a certain number of Bitcoins.

The problem with this method is that only a massive group of people working together with expensive equipment can properly mine cryptocurrency.

This method is therefore difficult for the average, everyday trader. So for you, it’s best to buy and sell crypto on any of the significant cryptocurrency trading platforms.

Final Thoughts

Cryptocurrency is definitely the future. More and more people want a decentralized form of currency that is anonymous, safe, and fast.

And with the increasing price of cryptocurrencies like Bitcoin, many more people are starting to believe in the power that crypto will have on our financial future. Technology companies like USI-Tech, Genesis Mining, and BitConnect are already enabling everyday crypto investors the unique ability to get started with Bitcoin through simple software.

So should you start investing? Of course. But always be reasonable with how much money you’re willing to put in. Though crypto is exciting, the price can change very quickly. Investing in crypto, therefore, requires a bit of patience, knowledge, and strong will.

Additionally, if you want to learn about investing your 401k or retirement plan into a cryptocurrency portfolio that can grow immensely over the next 10-20 years then read our free Bitcoin IRA guide or start a crypto account.

USI Tech Logo

USI Tech Review

A Comprehensive Inside Look At The Automated Bitcoin Trading System

You may have heard about USI Tech as a holiday story from a relative during Christmas, in a passing conversation at a networking event or even from a fellow friend. Whatever your reason for wanting to learn more about USI-Tech, this comprehensive guide will provide you with a snapshot overview of the company, how it works, how much you can earn and an honest opinion from someone who has personally invested thousands of dollars into the USI Tech passive income system. One can really earn a lot of Bitcoin using the USI Tech system, but first, you need to understand the fundamentals of how it works and why compound interest is so powerful.

>> Skip the Review and check out USI Tech <<

What Is USI Tech?

USI Tech LogoWith over 20 years of experience and 100 iterations of their unique Forex trading software to date, USI-Tech has been a technology company that specialized for many years in the development of automated trading software.

Today, USI Tech is a robust trading platform that gives package holders leverage of return on capital software built by experts and decades of experience. In addition to a team of talented crypto, forex, equities and commodities traders, the company boasts a unique mining operation with investments in ASIC, GPU and CPU mining. They are headquartered in Dubai.

Bitcoin and forex markets have the highest capital turnover rate in the world and operate 24 hours a day, 7 days a week. Compared to stock and financial markets this bears a huge advantage for both investors and traders.

As an investor, you have complete control over the entire operation. USI Tech provides you with a unique and highly complex system built with algorithms optimal for minimizing risk and increasing your chances of profiting.

USI Tech has been in business since 2009 and carries an international financial services license. The founders include Horst Jicha (Founder), Mike Kiefer (Co-Founder) and Ralph Gold (Co-Owner).

How Big Is USI Tech Cryptocurrency Mining?

  • 1% of global Bitcoin mining hashrate + Bitcoin USI-Tech branded pool
  • 2.5% of global Ethereum mining hashrate + Ethereum branded pool
  • A $70 million investment in mining hardware secures cash flow for the future
  • With a $10 million monthly investment in new mining hardware
  • USI-Tech will be the global leader in mining

usi tech compensation plan details

USI Tech is the fastest growing automated bitcoin multiplier investing opportunity in 2018 & beyond. With future opportunities from leasing patented technologies, the intention is to make USI Tech a world leader in technology ensured sustainability. Check out the USI Tech global platform here.

How It Works

The business model for USI-Tech consists of our money multiplied by mining, trading & arbitrage techniques. The company is also investing in cash ATM Machines to simplify the purchase and sale of cryptocurrency around the world. The ATM machines will be USI Tech branded and generate advertising revenue for independent promoters.

  • They DO NOT “invest”
  • They DO NOT earn interest
  • They leverage CAPITAL with USI Products
  • They simply multiply that CAPITAL for a return of CAPITAL on each package

The back office of USI Tech is nicely organized and colorful enough to stay interested. The Dashboard Home helps the user stay up to date on news & updates along with their current Active BTC Packages, Balance, Commissions, Tokens, and miscellaneous user information.

USI Tech Backoffice

What Is And How To Buy A USI Tech Package

The cornerstone USI Tech Package costs 50 Euros and gives you access to the aforementioned mining, forex, arbitrage, ATM machine, and leasing patent technology profits. You receive 140% of your return on investment after a period of about 112-186 business days at a daily rate ranging between .75% to 1.25% beginning from the inception of the program.

Since USI-Tech is a European company headquartered in Dubai, the back-office system will conveniently convert your Bitcoins (BTC) into your local fiat currency upon checkout. For example, with current exchange rates here in the United States, a package costs approximately 60 ($).

Inside your Dashboard Home simply go to the Package Options tab on the left menu and click Place Order. Here you can see the current price in BTC for one USI Tech Package which costs (€50), along with Package Runtime, Return on Capital and Daily Payout information. You may view extra products details or read help however by this point you should already know what is inside of a BTC Package so go ahead and click on Purchase.

USI Tech Place Order

On the BTC Package Checkout screen choose the number of packages you would like to purchase. You can not purchase fractions of a package, however, you can always purchase more anytime.

After you have entered the number of packages you want, checkmark “I have read and accept the Terms and Conditions.” You can choose to purchase either with an existing BTC wallet address or with Payza, which will incur an additional 5% fee.

USI Tech BTC Package Order

USI Tech simplifies the process of purchasing packages with BTC by displaying a QR code for you to scan. For ease of purchase, use a bitcoin-specific wallet such as Coinbase or Bread Wallet and either copy/paste the transaction address or scan the QR code to purchase your USI Tech bitcoin package.

>> Click here to purchase a USI Tech package <<<

USI Tech BTC Package Purchase

BONUS: Strategies for Investing in USI Tech Rebuy Packages

100% is the best option for maximizing your investment with USI Tech and rebuy packages. If you are serious about growing your stock BTC and compounding it with new packages then 100% will take you all the way in for the long stretch.

Daily compounding starts at around 100-150 BTC packages which means you will be able to buy at least ONE NEW package per day from your passive earnings at this point.

We recommend formulating a withdraw strategy at around the point of 200 packages invested. Implementing an 80/20 growth strategy will enable you to start collecting a cool income from your base and still grow the amount of BTC you have every day.

If you are considering slowing down on your investment and withdrawing some of your returns simply use a 50/50, 30/70 or even 0% rebuy on your USI Tech packages.

>>> Get started with USI Tech <<<

How You Earn Capital On Your BTC

  • Daily payment of the return of capital (5 days a week)
  • Daily withdrawals of returns and commissions
  • Commissions and returns can be immediately used to purchase new BTC packages
  • This results in a highly profitable compounding effect
  • Albert Einstein once said “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”

BONUS: Check out your Passive Earning Potential here.

Compound Interest In A Nutshell

A prime example of compound interest at work is in our home mortgages. A 30-year mortgage allows a home purchaser to afford and accept the idea of paying interest on top of monthly loan repayments. Over the lifetime of a 30-year mortgage, you end up paying more for the house than if you had paid in cash, even if mortgage interest payments are tax deductible. In short, if you are purchasing a home make sure you first have sufficient cash reserves to put down as a deposit on the new home to pay off most (preferably all) of the purchase price.

Imagine this compound interest effect working in your favor as opposed to against your money. Having a large stock (100+) of USI Tech packages with settings at 100% automatic rebuy percentage would enable you to purchase a package or two per day. Nothing is guaranteed, however, the team at USI-Tech seems to have built a well-fortified product portfolio of cryptocurrency investments that carry seemingly low to moderate risk. Anything can happen within cryptocurrencies and altcoins, however, if you believe in the blockchain and Bitcoin for what it is – a first mover, store of value, anonymous, fungible, low fees – then USI Tech is worth seriously taking a good, hard look at.

Affiliate Program

USI Tech also has an affiliate program which could be the boost needed to decide to partner with them and make it a hefty and worthwhile investment. Attracting loyal and consistent referrals can be difficult if you don’t have the right system down or a load of salesmanship. Though if you are able to build a large network of reliable USI Tech investors then you can literally earn Bitcoin on autopilot and make it a full-time passive income cash flow. A successfully enrolled affiliate is one who has purchased 12 packages or more. The commission plan works as follows:

  • Level 1 – You earn 10% of Package Price
  • Level 2-8 – You earn 3% of Package Price
  • Level 9-12 – You earn 1% of Package Price

One can even multiply their affiliate earnings by purchasing Token Package upgrades.

USI Tech

Main Website: USI Tech – https://usitech-int.com/

Amazing Rewards

The company boasts a great support system and holds training & conferences across the major global metropolitan cities. Bitcoin is a cryptocurrency that has different laws and regulations depending on which country you are in, but rest assured there is a myriad of USI Tech investors from all around the world as the most successful affiliates are certainly aware of. The founders, co-founders, and network generals send weekly, sometimes daily emails on research, updates, brand information, package upgrades and deals.

So what are you waiting for…? How would it feel to make a nice return on your investment in bitcoins (BTC) for 140 days and then some? Every day is a day you could be investing; don’t hesitate any longer.

If you are willing to spend 140 days away from your BTC and stay patient the fruit will be worth the seed. Results are not guaranteed but by placing your trust with USI Tech the potential for amazing returns thanks to the immense power of compounding is certainly there. Activate your USI account Now (It’s Free).

See you on the inside!

Investing In Bitcoin 2018

3 Things To Know About Investing In Bitcoin For 2018

Is it worth investing in Bitcoin for the long haul? Learn about the cryptocurrency and what makes it stand out as a potentially lucrative investment in 2018.

Three Things You Should Know About Investing In Bitcoin For 2018 & Beyond

From an investment standpoint, Bitcoin provides an interesting option with intriguing utility. The cryptocurrency is still a bit of a question mark in the financial sector and looks to remain that way for the foreseeable future. Even still, Bitcoin is a highly traded stock and has risen in value quite drastically over the years. This post will cover the essential information required before you invest in the leading cryptocurrency this year. Alternatively, if you would like to learn how to invest in Bitcoin for the long haul check out our complete guide here.

Bitcoin Is Unregulated

Part of what makes Bitcoin so intriguing is the fact that it is not backed or regulated by a singular government or financial institution. This creates incentives for users because it means that any Bitcoin transaction will be conducted without being subject to additional fees or conversion rates. The currency operates on an open-source platform that utilizes blockchain technology to record its transactions. The blockchain serves as a public ledger that stores Bitcoin transaction information.

Inversely, some believe that Bitcoin’s decentralized status could lead to its downfall in the future. Since it is not a fiat currency or based on something of value like gold, some see Bitcoin as something of fickle value. All currency forms are worth what people perceive them to be, but Bitcoin’s lack of a formal structure leads some to doubt its stability.

Bitcoin Is Popular

Bitcoin has grown in popularity and usability since its introduction back in 2009. There are more Bitcoin-friendly options than ever, whether with online retailers that accept it outright or through exchange services. One industry that has seen a drastic spike in usability is online gambling. Many online gambling sites not only accept Bitcoin but encourage its use due to the speed of the transactions. Online gamblers prefer it because of its lack of regulation and for its security and speediness. Some good examples of where you can legally use Bitcoin for gambling can be found here: http://www.legalbitcoingambling.com/.  

The cryptocurrency’s popularity has also reflected in its value. Currently, Bitcoin is worth roughly $2,700 a coin. This percentage valuation has increased exponentially since Bitcoin hit the market. In June 2017, the digital currency hit an all-time high near $3,000. This showcases how Bitcoin has grown in usability across different markets and points towards a sustainable future. While its value fluctuates as does gold or any other tradeable commodity, Bitcoin appears strong enough to continue its momentum.

Bitcoin’s Technology Is Applicable

Despite some doubts from certain parties, one aspect of Bitcoin has emerged as a point of interest—its blockchain. As previously mentioned, the blockchain effectively serves as a public ledger that tracks Bitcoin transactions. Each transaction is recorded in a “block” and once a particular block is full it is added to the end of the “chain”. Bitcoin miners then verify the transaction information, which includes the time and amount of each transaction, not the personal information of the parties involved.

Smart Bitcoin Investments - Where will bitcoin go in 2018?Analysts see the potential of the blockchain system as a means for facilitating financial transactions in the future such as smart contracts, real estate deeds, personal identification, bank transfers, and insurance. The system is fast, secure and streamlined enough to complete the transaction with fewer parties involved. A universal blockchain system would shut out payment processors and other third-party entities. What does this mean for investing in Bitcoin? Well, if the blockchain system is picked up and applied more universally, it is likely Bitcoin will be picked up with it. In any case, more Bitcoin transactions will help build data regarding the blockchain—more transactions equal more value.

All in all, the cryptocurrency looks to be a sound investment. Investments have an inherent sense of instability, at least the more lucrative ones tend to, so Bitcoin’s decentralized platform should not deter you.

FREE Guide on Bitcoin IRA Investing

P.S. Looking for some helpful resources to help you get started with Bitcoin? Check out our resources page for more cool stuff.

bitcoin investment strategies

10 Smart Ways To Use Bitcoin

Bitcoin is the leading cryptocurrency in a world that is fast evolving in connectivity and scale. Most people use Bitcoin for quick and secure transactions, however, there are there are literally hundreds (if not thousands) of uses for Bitcoin thanks to the Blockchain and its unique features that allow developers to build software on top of the currency.

Maybe you’re just getting to know Bitcoin. Or perhaps you already use Bitcoin and are looking for more options. Whatever the case may be for obtaining BTC, here are 10 smart ways you can use your hard-earned Bitcoins.

1. Use Bitcoin As An Investment Vehicle

When compared to other possible investment vehicles such as bondsBitcoin, stocks, commodities, gold, and silver, Bitcoin is extremely flexible in what it can be used for. If one is to purely speculate on bitcoin as an investment (and ignore all of its other intangible benefits) the digital currency has great potential due to the limited supply cap of 21 million coins which will be reached in 2140. Each bitcoin should rise in value over time as long as more and more people continue to use them.

Keep in mind that the price of Bitcoin is quite volatile. Short-term gains and losses will be plentiful in the future, though will likely smooth out. Bitcoin is still in its very early stages of development so learning how to invest in Bitcoin will reap the greatest returns as part of a long-term strategy. If you’re looking for a smart long-term strategy for an investment vehicle consider the benefits of a Bitcoin IRA.

FREE Guide on Bitcoin IRA Investing

2. Use Bitcoin As An Educational Tool

There is still a long way to go in terms of educating people on Bitcoin. The main purpose of Bitcoin has always been the innovative potential of the Blockchain. The blockchain allows people to take back full control of their lives, not just from a financial perspective, but also in the way people use services, technology, platforms and also how they view the world.

The inception of the idea for Bitcoin came out of the 2008 housing financial crisis. The idea was not only to create a new breed of disruptive technology but also to show everyday people that there are decentralized solutions available to enhance our lifestyles. And avoid fraud and corruption. In the case of hard times when the economy and local currency are struggling (due to inflation, credit bubbles, quantitative easing, etc), Bitcoin will be there as a handy alternative financial vehicle.

Most talk about bitcoin revolves around its usage as a monetary vehicle. There is a lot of room for improvement in the ease of use and access. Nevertheless, bitcoin is a fun tool to explain how the financial system can be changed – and possibly improved. Building on top of the blockchain technology, digital voting, negotiating contracts and signing and storing documents are just a few examples of Bitcoin’s educational potential as a means to improve our lifestyle.

3. Spend Bitcoins For Your Everyday Needs

First and foremost, Bitcoin is an alternative electronic form of payment. There are many benefits to why a retailer would accept Bitcoin. Lower costs, instantaneous transactions and virtually zero risks of fraud or chargebacks from a bank are just a sample of the benefits.

You may already notice that an increasing number of physical retailers and online merchants accept and use Bitcoin as payment. There is also a rising trend of Bitcoin ATM machines appearing in convenience stores & supermarkets all over the world (check out FindBitcoinATM if you are in Australia).

Use BitcoinThis means that Bitcoins are being used as a viable form of money throughout the world. This also means that continuous commerce will be a major factor going forward towards growing both Bitcoin and all cryptocurrencies.

Many online stores (such as Expedia and Dell ) accept BTC in the same way that they accept credit cards. After all, why wouldn’t a retailer accept all forms of currency? A great way to shop smart using Bitcoin is to use a product search engine like Spendabit, which aggregates products from large, established Bitcoin-enabled vendors such as Overstock.com, Newegg, and Fancy.com.

If you are into food (and who isn’t) companies like Domino’s, Pizza Hut and Starbucks already accept Bitcoin payments for their services. We encourage you to do some exploring – both online and in the real world – and identify your favorite stores and brands that accept Bitcoin. The results may surprise you.

With so many different merchants accepting Bitcoin, many of which are everyday goods and services, it should only be a matter of time and word of mouth until Bitcoin becomes mainstream. Find bitcoin shops, markets and links.

FUN FACT: The first purchase ever made using bitcoin was for a pizza delivery worth 10,000 BTC.

4. Indulge In Luxury Expenses With Bitcoin

For those who may already lead an active and luxurious lifestyle, there are a plethora of options for indulging in Bitcoins such as flights and hotel bookings. While not every vacation or flight can be paid for with Bitcoin just yet, there is already a multitude of services at your disposal to expedite the process, such as BTCtrip. Whether you are planning a trip to Switzerland or considering a vacation in Dubai, making purchases with cryptocurrency gives you the unique ability to purchase luxury goods duty-free. Luxury Vacations

With more options and flexibility, this just goes to show that Bitcoin acceptance is beneficial for both merchants and consumers. When traveling, be sure to book a car rental from a reputable dealer or finance one with our good friends at Accept and Check.

5. Support Charities With Bitcoin

One of the greatest, most important aspects of life is having the opportunity to do social good for others who may need it most. Many charities accept Bitcoin including Wikipedia, Red Cross and Green Peace. The best part about donating with Bitcoin is that you do not have to go through a third party organization to ensure that your contribution gets to its destination safely. As a result, your funds will also get there faster and effectively help more people in the process.

6. Gamble Online

Bitcoin GamblingBitcoin is an excellent alternative payment method when compared to credit cards and bank transfers. For starters, transactions are anonymous and can not be traced by a third party. This means there’s no need to share personal information or verify your identity. The nature of the bitcoin system is also non-refundable, so it just may be a smarter option for serious gamblers. Online bitcoin gambling sites include BitCasinoFortune Jack, Oshi, Bit Games, and Mars Casino.

Warning: Be sure to check your local laws regarding online gambling and sports betting before participating in such services.

7. Invest In Precious Metals

Although exchanging Bitcoins for precious metals such as gold and silver can technically be construed as moving value from one investment vehicle to another, the idea itself isn’t so farfetched. Many people view Bitcoin as the digital cryptocurrency equivalent of Gold. It’s not a coincidence that they both have a limited total supply and need time to mine.

In addition, there are a number of online platforms that let users trade bitcoin against the value of precious metals as a form of day trading. This means it’s possible for people who mine Bitcoin to receive their value in gold rather than BTC. Remember to do your own research before trading and trusting just any platform. For those interested, top Bitcoin to precious metal trading platforms include Vaultoro, Uphold and Goldmoney.

8. Give It Away To A Friend Or Family Member

One of the great joys of Bitcoin is teaching a friend or family member how to use it. If you have successfully created a bitcoin wallet and moved BTC into it, congratulations you know more about how to use Bitcoin than most of the world does. All that’s left to do is to grab a friends phone, install a wallet for them and send them a small amount of bitcoin to get them started. After you learn the fundamentals of Bitcoin, there is still a whole world of cryptocurrency and blockchain uses to explore. As of this writing, Bitcoin is approximately 60% of the entire crypto market capitalization.

There are several gift card sites that allow you to exchange bitcoin for gift cards such as Gyft and eGifter. There is also another iOS app soon to come out, Birthday which lets you send Bitcoins to anyone around the world as a digital gift! Sending Bitcoin to a family member or friend could be a great way to show an act of loan forgiveness.

9. Pay Bills

How awesome would it be to pay for bills using cryptocurrency? The types of service bills you are able to pay for with Bitcoin depend largely on your location. However, in the not too distant future phone bills, utility bills, and mortgage bills will be paid in Bitcoin. It is already possible to recharge prepaid phones using Bitcoin Top Up services such as Bitrefill, BitMoby or Bitkoyn.

10. Start Your Own E-Commerce Store

So if physical retailers are beginning to accept Bitcoin payments, what does that mean for online e-commerce?

Although Amazon does not yet accept Bitcoin payments storewide, it is still possible to pay with Bitcoin by purchasing Amazon digital gift cards through a service such as RewardsPay, which can then be used to make purchases on Amazon.com. But imagine what would happen if a global behemoth retailer such as Amazon did accept Bitcoins?

How To Spend Bitcoin

Even though the largest online marketplace does not yet accept Bitcoins, savvy merchants and entrepreneurs still have excellent alternatives. For one, did you know that Shopify merchants can accept Bitcoin as a form of payment? Shopify is the fastest growing e-commerce platform by a wide margin and is super simple to navigate and set up. Individual merchants looking for more customization, perhaps on their website, also have a plethora of WordPress plugins to choose from. If you enjoy selling stuff as opposed to buying things then there is ample opportunity to earn Bitcoins online.

And of course, one could simply accept donations from the goodwill of others by publicly sharing their wallet address or QR code.

Final Thoughts

In conclusion, Bitcoin has the potential to disrupt how humans transact value to one another across the world. The value of Bitcoin will depend on what the people think of it and how they use it. But once you have some you are a member of the ecosystem. Since Bitcoin is a safe, fast and decentralized form of currency, it will definitely be interesting to see what types of services come about in the future. When it comes to retailers, merchants and people all around the world adopting BTC as a form of payment, time and education are the major variables. And remember, as an investor, it is always better to have a boat ready when the rising tide comes.

Retailers, merchants, and people all around the world will slowly adopt BTC as a form of payment, where time and education are the major variables to its success. So if you are still wondering if Bitcoin is a once in a lifetime opportunity remember, as an investor, it is always better to have a boat when the rising tide comes.

P.S. Looking for more smart ways to invest in Bitcoin? Grab your free Bitcoin IRA guide here.