5 WAYS YOU COULD BECOME RICH WITH BITCOIN EVEN IF YOU HAVE NO CLUE ABOUT TECHNOLOGY
If you’ve ever been interested in buying Bitcoin but couldn’t figure out how to get started, this is the article for you. There are plenty of articles on the web offering tips and tricks on how to buy Bitcoin, but they often rely on technical jargon and a high level of technical knowledge, which can make them confusing and intimidating for people who don’t know much about technology. If you’re looking to get started with Bitcoin, you can do it in any of these five ways even if you have no idea what mining or hash rates are.
- Don’t Buy Bitcoin
Many people have heard of bitcoin and understand that it’s a virtual currency, but they don’t know much about it. It’s not uncommon for your friends or family to say they want to buy some when they hear you have made money off of it. Just because you have heard of bitcoin, however, doesn’t mean you should jump on every chance that comes your way.
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- Invest In Blockchain Technology
One of the biggest ways to get rich with bitcoin is by investing in blockchain technology. Blockchain is a ledger that keeps track of all transactions, so it provides a secure way for you to keep track of how much bitcoin you own and how many you’ve transferred to others. As more companies discover blockchain technology and its usefulness, they will start using it as a backbone for their business. This can mean huge growth for any company involved in developing new technologies for blockchain technology or operating on top of its ledger system.
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- Purchase Bltcoins
Once you purchase bitcoin, you can immediately exchange it for any number of cryptocurrencies through cryptocurrency exchanges like Bittrex and Poloniex. On these exchanges, all kinds of cryptos are available—BTC, ETH, LTC—and are easily converted to USD. Just be sure to take a basic security precautions with your digital wallet.
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- Start a Crypto Fund
It’s no secret that cryptocurrencies are in a historic bull market. The explosion of interest in crypto has prompted many to try and turn a profit, however there is still some hesitancy because of scams. One way to get involved in cryptocurrencies without all of these risks is by starting your own crypto fund.
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- Build An ICO
Initial coin offerings (ICOs) are a popular means of raising funds for blockchain startups. They are akin to an IPO for tech companies, but instead of selling shares in your company, you’re issuing digital coins that have a monetary value. People who buy into your ICO (mostly enthusiasts and early adopters looking to get in on something new) get tokens that function as stock in your project.
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Nice.
This is helpful.