How to Immediately Profit From Cryptocurrency

By January 17 5 0

Bitcoin and other Cryptocurrency

For a few months now we have seen the dramatic rise of Bitcoin which is the number one cryptocurrency. Ethereum has also made dramatic gains too. In this article, I’ll show you how you can get a dog in the fight and make an immediate profit with almost no risk. Interested? Let’s go!

Cryptocurrency Controversy …

Since the rise of Bitcoin to over $40k/coin you have probably seen a lot of dialogue about what it is and the controversy around it. Given its decentralized nature and buy-in from major companies, it is likely here to stay. It’s a safe bet that you can make a small investment in cryptocurrency and gets some easy rewards out of it.

There is no doubt that cryptocurrency is speculative in nature but that doesn’t mean you can’t hold a small amount of it and sell it during a dramatic rise. Truthfully, it’s unclear what the future of Bitcoin will be, how governments will ultimately react to it, and what it means to the future economy. One thing that seems sure is that early adopters will easily be rewarded and have a major financial lead if cryptocurrency becomes more mainstream.

Pulling the Cryptocurrency Trigger

It’s time to get involved and get comfortable with cryptocurrency. My assumption at this point is that you have a basic understanding of cryptocurrency and what it is. This knowledge is widespread at this point but you need to make sure that you feel comfortable with what you are doing so you can have peace of mind. It’s likely that bitcoin will be the first cryptocurrency that you buy. A really good introduction to Bitcoin is found here. There is some great advice in there and even some references to take your knowledge to the next level.

The easiest way to get started with bitcoin is to buy some at an exchange. There are many exchanges to choose from and pros and cons to all of them. I have found the easiest one to navigate is coinbase.com. I don’t have any financial incentive to recommend them, I just generally feel they are the best. Their mobile app is also wonderful and lets you easily participate in transactions right from your phone. The mobile app makes it easy to look at your total cryptocurrency portfolio and decide how you want to proceed.

Coinbase

There are many upsides to Coinbase, but one of the more obvious ones is their incentive plans for different levels of participation. They give you $5 just to join through coinbase.com. I already know what you are thinking. “Is that really $5 I can put in my bank account?”. Yes! They are literally giving away money to get started. They also have other cryptocurrency giveaways that can make you immediate money that you can put into your bank account today.

One of my favorite aspects of Coinbase is the education and rewards program. You can make an easy $6 right now just by learning about newer cryptocurrencies. For example, get started here learning about the cryptocurrency Compound. You’ll gain instant money and education that you can leverage in the future. If you participate in their rewards program you can easily transfer their reward currency into US dollars and then withdrawal it right into your bank account. Does it sound to good to be true? Here are emails from Coinbase literally giving me money.

Emails from Coinbase
Coinbase can deposit straight to your bank account

Let the Profiteering Commence

How can you profit from cryptocurrency today ?

  • Join coinbase through this link
  • watch a few videos learning about new cryptocurrencies
  • set up you banking information
  • withdrawl the crypto into your account

You can take it further by participating in their other rewards programs or even straight buying $100 of Bitcoin and watching the price carefully. The price of Bitcoin is volatile, but knowing that keeps you focused on your goals and risk levels. You can try to make a speculative short term gain, or just leave a small amount of money invested in Bitcoin and just cross your fingers that you are tomorrow’s Bitcoin billionaire. It’s all up to your risk preferences. Using this strategy you will accomplish many but most importantly:

  • You’ll make a short term profit
  • You’ll dramatically ramp up your cryptocurrency education
  • You facilitate the set up of future cryptocurrency investments at your own risk level.

There is really no harm in getting involved and your curiosity will be given an immediate financial reward.

Education Continues

One thing that you have probably learned about in deference to cryptocurrency is wallets. It turns out that Coinbase plays really well with private wallets. My favorite has been the Ledger wallet seen here. Ledger does a good job demystifying the concept of a private wallet. It facilitates you extrapolating your private cryptographic key to have into 24 keywords that can regenerate the entire private key. The walk away from this architecture is even if burglars stole your private wallet they wouldn’t know the passphrase and you could program a new Ledger wallet with your old private key and hence recover all your cryptocurrency from it.

Your private key is the final word in cryptocurrency security. The often touted saying of “not your keys, not your coins” reminds you that the cryptographic key is equivalent to cryptographic ownership. It’s important to realize that coinbase is using a private wallet to store and transact your coins. The detail that you don’t want to overlook is they are managing the private key. If you leverage the use of Coinbase as an exchange with the privacy of a Ledger private wallet you then have a powerful toolset to interact with the blockchain.

Get on it …

Thanks for reading. I hope you give it a try and have some fun learning about cryptocurrency and make a little profit too. A little extra money in your pocket never hurt anyone. I have personally made thousands in cryptocurrency profits and am always surprised how people want to somehow tell me it’s fake or it’s not real money. The fake money has recently replaced the exterior french doors on my house so I guess I just have to be satisfied with that.

Do you have a comment on cryptocurrency, leave it in the comments below. You can also get a hold of me by email here.

5 Comments
  • Melissa Inferrera
    January 18, 2021

    Very informative! Thank you so much for sharing this information!

  • Matt
    January 18, 2021

    Great information!

    While I’m not a believe of bitcoin as an investment, I do have a small portion of my portfolio in it for speculative purposes

  • Anita
    January 18, 2021

    Really informative post. Thanks for sharing, I’m hoping to be able to go into this soon.

    • Adam Wilson
      January 18, 2021

      Maybe this will be a good starting point for you

  • Clarissa Cabbage
    January 23, 2021

    Interesting! I really don’t feel like I have a very good grasp of crypto currency and how it works although I’ve been hearing about bitcoin for quite some time now. Because of that I’ve really just stayed away from it. Thanks for all the info!

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