EARN MONEY THROUGH BITCOINS - PHILIPPINES

EARNING MONEY THROUGH BITCOINS

Want to earn money through bitcoins but you still don’t know how to get started?

I will teach you the easiest and effective way. Proven and tested.

For this article, it is more of a practical approach rather than some philosophical or whatever approach it is.

So, if you want to know how cryptocurrencies or bitcoin per se works, it will be beyond the scope of this article.

The logic is, for example, when you want to go from Point A to Point B by using a car, do you even get to know how a car works?

No.

You do not need to know how a car engine works, its transmission, its fuel injection or carburetor or spark plugs. . . you just drive the car. Simple as that.

But if you insist and want to know how bitcoin works (it's history, mining, how it is regulated, etc), it will be on my next article as an implied duty to teach you how it works. So MAKE SURE TO FOLLOW me here on Steemit.

Or, you can post comments and I will answer it diligently.

Going along with this article, you will see that I will talk about math. It is basic math by the way. No rocket science.

By the way, math is fun when earning money is involved right?

But don't worry over these formulas, as almost all online software and programs are fully automated already. No need for you to compute manually. They will compute for you.

But it will be good enough for you to know so you can know how to foresight your earnings (or your loss).

And we need to understand it so we can know on how these strategies effectively works. That's like knowing how to drive, but unlike driving, knowing this basic principles and formulas won't harm or kill you if you have the patience to know.

Now, start your engine and let us now learn how to drive.

GETTING STARTED

One website: Coins.ph

Click on this link: https://coins.ph/m/join/nqspqv

Sign up and register. You can also earn money by inviting others.

But inviting others to earn money is not the one I am going to teach you.

There are 3 effective strategies that I am going to teach you to earn money using Coins.ph.

3 EFFECTIVE STRATEGIES

1. Buying low, then selling high

One way is to put up a capital for bitcoin. It is inevitable: to earn money, you must put up a capital.

The doctrine of "buy low, sell high" is pretty basic to understand. Take a look at this hypothetical example:

Date	1 BTC rate	Remarks
Jan 3, 2018	PhP 10,000	buy
Jan 6, 2018	PhP 20,000	sell

Now supposed you got 5,000 bucks. Then you bought bitcoins on Jan 3 at the rate of 1 bitcoin (BTC) = 10,000 pesos. The formula is like converting a dollar to a peso (it's basic math btw, but to be discussed later).

So 5,000 divided by 10,000 = you got 0.5 BTC.

And then you hold your 0.5 BTC for 5 days. Or maybe you just went into a vacation to Boracay for 3 days and when you got home you don't have enough money to pay your stupid postpaid telco bil, due to consuming your data a lot to post your selfies on Instagram, or whatever it is.

Therefore, you decided to sell your bitcoin to make money. You sell your 0.5 BTC on Jan 6, at the market selling price of 1 BTC = 20,000 pesos.

So your 0.5 BTC x 20,000 pesos = 10,000 pesos

You now got 10,000.00

And you only put up 5,000.00 but you had doubled your money in just 3 days!

You might say, "Oh c'mon Mr. Rigor Mortiz, it's only an hypothetical example. This does not happens in real life!"

Look at the real world bitcoin chart btw:

Source: https://www.coingecko.com/en/price_charts/bitcoin/php

Please bear on me for this one.

To understand the chart, 1 bitcoin on the particular date is equivalent to amount in pesos.
Jan 3, 2018 = 776,389.18
Jan 4, 2018 = 796,627.58
Jan 5, 2018 = 912,812.30
Jan 6, 2018 = 913,145.52

Let’s say, for example, you put 5,000 pesos in your coin wallet on Jan 3, 2018.

On this day, the exchange rate of 1 Bitcoin (BTC) is 776,389.18 pesos.

1 BTC = PhP 776,389.18

Again, question: if you got PhP 5,000 to “invest” for bitcoins, how many bitcoins can you buy?

The formula will be just when you exchanging peso to dollar. Capital divided by exchange rate.

It will be: 5,000 / 776,389.18

The answer is 0.00644006914161272.

For your 5,000 pesos, you got 0.00644006914161272 BTC.

Simple converstion.

Now, of course, you don’t earn that way. Unlike the stock market, bitcoins never earned dividends. You need to sell it to liquidate again into pesos. Or you can use it to pay for your bills through Coins.ph. Coins.ph will simply buy back your bitcoin to the current exchange rate. So it is basically, on the principle of selling again.

Now, you want to sell/liquidate your 0.00644006914161272 BTC into peso on January 6, 2018.

First, we look at the current rate on that date.

On Jan 6, the rate is 1 BTC = 913,145.52 pesos.

Again you just convert it the way you convert a dollar into peso.

0.00644006914161272 x 913,145.52

That will be: PhP 5,880.72

You see the point that I made here.

In a nutshell:

Capital	January 3, 2018	PhP 5,000.00
Net	January 6, 2018	PhP 5,880.72

Earnings: PhP 880.72

You earned 880.72 out of your 5,000.00 pesos.

Bonus knowledge:

To compute for your yield percentage:

Net earnings / capital

880.72 divided by your capital 5,000 = 0.176144

Converted to percentage, that will be 17.6% yield.

Assuming, on that situation, instead of investing 5,000 pesos, you invest 20,000.00 pesos, your net will 23,522.88. That’s 3,522.88 earnings, the formula is:

20,000 x (1 + .176144) = 23,522.88

Just like in doing business, you need to understand these basic knowledge. But mere knowledge will not go you anywhere. You must apply it.

As a personal note, the strategy #1 is pretty boring. For the second and third strategies that I will talk about, it is more exciting. But let me take a break for a while. It will be posted as soon as possible in separate articles.

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