How to invest in bitcoin and become a millionaire

I know of a 19 years old boy by name Erik Finman who is one of the world’s leading millionaires thanks to his investments into Bitcoin. As of now, he owns 401Bitcoins which will roughly make an amount of 5 million when taken at a rate of 11,190 dollars per coin. He is a living testimony of how wealthy you can become through bitcoin investments. It is without doubt that investing bitcoins have made more millionaires than we can count. Everyone desires to reach financial freedom which is a stage whereby you will no longer worry about money issues on daily basis. And bitcoins represent a nice road to take in order to reach this stage in life.

How to invest in bitcoin and become a millionaire

The next question that everyone will possibly be asking will that of knowing what it takes to invest bitcoins or how to successfully go through the process of investing bitcoins? Relax and take a deep breath because that is the reason for our writing. We shall unfold in bitcoin cash, bitcoin exchange rate, bitcoin price today, bitcoin value, and how to invest in bitcoin and become a millionaire. In addition, we shall also bring elements of answers to the question of how do you get bitcoins for investment.

A brief history about bitcoins

You might have possibly been asking yourself how bitcoins came about. You are right in asking this question. In addition, you can’t invest in something that you do not know about its origin, durability, credibility, and value. The origin of bitcoins dates back to 2008 when the wonderful idea came to a Japanese anonymous programmer by name Satoshi Nakamoto. You might ask yourself what prompted him to bring about Bitcoins? He noticed that the world’s economy was experiencing a great recession. This boosted him to look forward on coming up with a currency that was moving towards the ideal characteristics of a currency which are scarcity, uniformity, quality, portability, durability, and divisibility. Lucky enough he found that Bitcoins fulfilled all these characteristics. Still in 2008, he published a paper which was describing a complex mathematical question with 21 million possible solutions. Given that the solutions to this mathematical problem where finite, he saw this as a good quality to voice out Bitcoins as they are fixed in number.

This means that when all the 21 million possible solutions will be reached, there will be no more bitcoin mining, but we shall have this fix number of bitcoins in continuous circulation for use in the world. Back in 2009, bitcoin value was extremely low when they were released for use because people were not aware of it by then while some laughed and neglected the idea of a new currency. Bitcoin value by then was at 1,309.03BTC = $1 USD. But because only a few bitcoins were generated by then, its scarcity became alarming and helped bitcoin value rapidly increase in the eyes of the whole world. Not very far, by 2011, 1BTC = $10 USD. This considerable increase started getting the attention of many entrepreneurs who started learning and investing bitcoins. However, they are presently enjoying the benefits of their efforts in joining the bitcoin world. As of now in 2018, the bitcoin price today is 1BTC = $8170.00 USD.

What a remarkable increase? Just imagine that you had bought 1,309.03BTC for $1 USD back in 2009 and were to sell it today; you’ll obviously be the next billionaire in the world. This is just what we mean by investing bitcoins. Nevertheless, investing bitcoins is not a child’s play because bitcoin value fluctuates too much.Today it can be low and tomorrow it is high or low today and high tomorrow. This then calls for your attention and efforts to carefully study and master how successful investments can be made in bitcoins. It is always advisable that people should invest in bitcoins only what they can afford to lose. This does not mean that bitcoin investment is a way to rip you off your hard-earned cash. It’s just like any other business with risk of losing or gaining. I don’t think you can tell me a business with zero risk. However, the highest risk that a person can take is not to take a risk at all. With this said, you ought to figure out how to invest in bitcoin and become a millionaire while you can still do it.

The most important basic things that you should know about Bitcoins

Bitcoin is the first ever made cryptocurrency in the World. Talking about first, we mean first in everything, that is moving from durability to credibility. It is a virtual currency meaning it differs from physical money in that it does not come in coins neither is it officially printed out on papers. In addition, it is a peer-to-peer currency meaning that it does not need a middle man like the government or a bank to regulate how much of it is been sent into the world at a time. The next question that you might possibly be asking yourself is that of how bitcoins are created? Bitcoins are created digitally by people who successfully solve complex mathematical problems with their computers.

Each time one solution is found for this problem, bitcoins are instantly released. This is to say that bitcoins are truly decentralized as in the ideal currency. Worth noting here is the fact that all transactions behind bitcoins are recorded and publicly published to the notice of everyone in the World. Bitcoin is loved by so many people because it is not surrounded by all the rules surrounding physical money. It’s true that it has a few numbers of rules which are only aimed at making it operate as normal money at the convenience of everyone. It should be noted that bitcoin transactions are irreversible and that bitcoins are not yet accepted worldwide.

Nevertheless, things might likely change in the future and the whole world embraces bitcoins as there are already promising signs as many business people are already accepting payments in bitcoins. Although so many people have embraced the revolution brought by bitcoins into the business world, a few persons are greatly worried about who controls the Bitcoin network. It should be noted here that the bitcoin currency operates on a peer-to-peer network and can’t be controlled by anyone. Nevertheless, the Bitcoin program was attributed an open source by its founder so that people can bring positive ameliorations to this currency under a few guidelines of rules.

How to invest in bitcoin and become a millionaire

How do you get bitcoins and go about investing bitcoins?

Have you ever wondered what it takes to get bitcoins or how do you get bitcoins? For sure, this question has been puzzling so many people. However, getting bitcoins legally is very easy when you know how to go about it. We shall be taking you through this process in a detailed way. Getting bitcoins does not depend on your geographical position. Thus, you can get bitcoins anywhere in the world. All you will need is an internet connection and the bitcoin software installed. Having to purchase bitcoins from your PayPal account or credit card is something very difficult to do.

This notwithstanding, you can still get your bitcoins with ease through different methods as we shall be discussing below in order to bring more elements of answers on how do you get bitcoins? The first thing to do when you want to get your own bitcoins is to create a bitcoin wallet. This is because your bitcoins can’t stay in air. You’ll need an electronic wallet which will help you store and preserve all the bitcoins that you will get. These bitcoins stored in your electronic wallet will always be ready for use at any time. This means that at any moment you wish to carry out a transaction that requires the use of bitcoins, you’ll simply have to return to your wallet and remove some.

However, if you wish to withdraw your bitcoins in to your local currency, it is very possible thanks to the many exchange platforms that we have today. You should be careful when choosing an exchange platform, first check for its security credibility and geographical extension. Before asking for an exchange, check if the platform takes into consideration your local currency and banks. The best bitcoin exchange platforms are as follows: CoinBase that offers the possibility for people to transfer their funds to US banks only, MtGox, BTC-E, Cryptsy which offers the ability to trade other currencies as well, BTC-China, and Bter.

In addition, there exist a face-to-face option of trading bitcoins. Here you can purchase bitcoins with your local currency or sell bitcoins to receive your local currency. This is thanks to the platform referred to as LocalBitcoins. It comes in to render the process of searching trading partners very easy. You can use the platform to meet those living in your area who have bitcoins for sale or who want to purchase bitcoins. It allows you to discuss the price with them and fix a physical encounter for the transaction if an agreement is met. Apart from being easy to use, it represents one of the safest places through which you can trade your bitcoins locally. Always think about your safety first.

Thus, no matter how much money you’ll exchange with a person through localBitcoins in a physical place, stay away from meeting at someone’s house, field, apartment, or any hidden place where you could easily be killed and taken your hard-earned bitcoin cash. Make sure that for all transactions, you decide to meet at public places like restaurants and road sides. This will assure your personal safety and that of your money or bitcoins. In order to sell your bitcoins when you meet with this person physically, you’ll need an internet connection with a smart phone or a tablet or a PC to access your bitcoin wallet and send him/her the bitcoins to their bitcoin address after which you collect the physical cash.

This is the same when you want to purchase bitcoins, you simply give the physical cash and the person sends the bitcoins into your bitcoin wallet’s address. As previously mentioned, you can mine bitcoins with your computer and an internet connection. Although this later has become more complex today due to the fact that the bitcoin price today has greatly increased as well as bitcoin cash and bitcoin value thereby attracting the attention of everyone. When bitcoins were created, mining was a normal and easy way for an individual with a computer and internet connection to make some cash for the day.

But as bitcoin price increased, it started attracting corporations and large groups of individuals thereby leading to the suppress of single person mining with local home computers. In this light, Bitcoin Mining Software were created for individuals or group of individuals who desire to mine bitcoins. As the value of Bitcoin cash continuously increased, people realized that creating a Bitcoin Mining Hardware which incorporated the Graphic Card of type ASICs in computers will go along well with a software in order to generate great profits for corporations or individuals who can afford to purchase them. You can purchase any of these bitcoin mining tools as a way on how to invest in bitcoin and becomes a millionaire.

With them, you’ll be able to generate enough bitcoins which you’ll convert to your local currency and enjoy life. Still on answering the question on how do you get bitcoins, we will include the point of joining a Bitcoin Guild or what is locally known as a pool. This refers to a situation whereby a group of individuals pool their computing power together for the mining process and each time that a block is successfully solved, the reward is shared to all participants in the form of bitcoins which they can later withdraw in their local currency.

Thus, a pretty nice way on how to invest in bitcoins and become a millionaire.  In addition, we have a few enterprising individuals who have developed companies with highly resistant and specialized computers for a large-scale mining process. This makes it very difficult if not impossible for individuals to compete with them. Such companies offer packages which you can purchase and receive a corresponding bitcoin mining benefit. And this is often the less risky road to take when checking on how to invest in bitcoin and become a millionaire.

Another pretty nice option through which you can invest bitcoins is through the Bitcoin Investment Trust.

We hereby conclude our writing on how to invest in bitcoin and become a millionaire. As previously mentioned, the bitcoin price today has greatly increased with respect to the previous years and this is a sign of a good investment platform. However, it should be noted that bitcoin value fluctuates much. Therefore, you should carefully study the market before getting into it in order to have only yourself responsible for your actions. Nevertheless, we saw how one can properly invest in bitcoins and not only make a living through it but also move to financial freedom too.

Worth calling your attention on is to be careful when dealing online not to fall into the hands of scammers who will rip you off your hard-earned cash. Be careful with offers that are too nice to be true. We shall welcome all your comments and remember to share this piece of writing with your friends if you found it helpful. And in this way, they’ll also benefit from the nice things it has to offer to them. Nevertheless, Bitcoins only represent one among many ways on how to earn cash and become a millionaire. For further ways on how to become a millionaire, check on my article entitled How to become a millionaire overnight in 10 steps.