Simple Ways to Buy and Invest in Bitcoin

What is Bitcoin?

Bitcoin is a decentralized, peer to peer, digital currency system, designed to give online users the ability to process transactions via digital unit of exchange known as Bitcoins. In other words, it is a virtual currency.

The Bitcoin system was created in the year 2009 by an undisclosed programmer(s). Since then, Bitcoin has garnered huge attention as well as controversy as an alternative to US dollar, Euros and commodity currencies such as gold and silver.

Rise to Popularity

Bitcoin had not attained much attention in the world of business and finance before the year 2009. It rose to prominence in the 2011-2012 period when it gained over 300%. Bitcoin has had a 400% growth in its value since the August of last year. As a result, venture capital firms and investors around the world continue to pay importance to the cryptocurrency.

In the first half of 2014, venture capital firms invested $57 million in Bitcoin in the first quarter, followed by another $73 million in the second quarter amounting to a total of $130 million, which is 50% greater than last year’s total of $88 million. This is a complete contrast to the scenario in 2012 where Bitcoin firms amassed a relatively meagre sum of $2.2 million.

These statistics prove beyond doubt that Bitcoin is worth your investment, which begs the question, how can you buy and invest in Bitcoin?

A guideline for novice investors in Bitcoin

The easiest and least complicated method to invest in Bitcoin is by purchasing bitcoins. There are a lot of established firms, mainly in the US as well as abroad, who are involved in the business of buying and selling bitcoins, abbreviated as BTC.

Coinbase

If you are living in the U.S. then Coinbase is the place you’re looking for. Coinbase provides it’s clients with BTC at an estimated mark up of 1% over the existing market price. Residents of the United States have the option to sync their Coinbase wallets with their bank accounts. As a result, future payment transfers are made hassle free. This company also gives you the option of automatic bitcoin buying from time to time. For instance, if you’re interested to purchase $50 in bitcoins at the beginning of each month, Coinbase allows you to set up an auto buy for that amount.

Be mindful of the terms and conditions before you begin to use this service. If you have subscribed to an automatic bit coin service, then you will not be able to control the price at which the BTC is bought every month. Note that Coinbase is does not function as a Bitcoin exchange i.e. you buy and sell the coins directly from the firm. Since the firm has to source the coins from other buyers, you may face delays or disruptions when laying orders during fast market moves.

BitStamp

BitStamp suits the requirements of a conventional bitcoin exchange. Bitcoin acts as an intermediary which allows you to trade with other users and not the company itself. Here the liquidity is higher and you always have a good chance to find someone who is willing to trade with you. There is an initial fee of 0.5% which can be reduced to 0.2% if you trade $150,000 in a period of 30 days.

Alternative ways to purchase Bitcoins

Local Bitcoins

Exchanging isn’t the only method of investment in bitcoins. Local Bitcoins is often used to buy BTC offline. The website is designed to link potential buyers and sellers. The bitcoins are locker from the seller in an escrow and can only be released to buyers.

Buying bitcoins offline isn’t always very reliable or safe. Hence it’s preferable to meet the sellers during daytime and let a friend tag along with you just in case things go south.

Bitcoin is not just a modern trend. Venture capital firms consider Bitcoin to be a decent substitute to conventional currency in the long run. There are cointless ways for you to enter the sphere of bitcoin investment. As mentioned before, Coinbase, BitStamp and Local Bitcoins are the most popular channels for investing in bitcoin in the United States. Do your homework and find out which avenue ticks all your boxes.

Five Keys to Real Estate Flipping Success

Make your fortune in real estate. It is not that hard once you get the hang of it. Real estate flipping can be an extremely high paying career, but I see way too many people give up on it. The turnover in this industry is exceptionally high. I noticed the high turnover early on and have watched to learn why some people kill it while others disappear. This has been important to monitor to help myself and my clients last in this amazing business.

I have been in the real estate field for the last 16 years and my hard money lending company finances around 150 deals a year. Here is what that experience has taught me about being a successful fix and flipper.

Mindset: This is where it all starts. For the last 3 years, I have felt myself fall into a little lull and have realized that this occurred because of my mindset. Your mindset could be a lot of things, but the basic concept is that what you believe will happen… does. Sometimes just convincing your mind that you will hit a goal takes work. Not to mention the work that it takes to actually hit that goal.

Focusing your mind on positivity is a great start, but you really need to believe you deserve the success you desire. Meditation and affirmations are fantastic ways to accomplish this.

Hustle: Nothing is going to be given to you. When I was going through my struggles to hit some financial goals, I had to keep reminding myself of this. Times can get hard and things can feel unfair, but the reality is, no matter how much you don’t want to believe it, you are the only one responsible for your success. I would tell myself this over and over. “If I want it, I need to earn it” I had to get up in the morning. I had to deal with the problem on my plate. I had to stay up late or work on the weekend. I had to put in the work to get the results. Because I decided to be successful, I decided to work hard.

Network: As we have learned. It is not what you know, it is who you know. I constantly try to team up with people smarter than me, that can both help me learn and help me get results. This has resulted in millions in profits. I also feel very lucky to have a network that can solve just about any problem I run into. If I am rehabbing a house and run into a problem, I have a list of people I can call for help. If they don’t know how to help they will know someone who does. I lean on my attorneys, my CPA, partners, wholesalers, and other professionals on a regular basis.

Education: To make my top five list you know I believe this is important in your success. Constant improvement is essential and the exciting thing about this, especially early in your career, is that growth is exponential. As you learn and implement ideas into your business, your business grows at a faster and faster pace. Obviously, for this to work you will need to learn AND implement. Many people learn all about investing and never invest. That comes down to the investor mindset. That’s why, I believe, you need all five of these essential keys to be a great fix and flipper. The good thing is this is possible for everyone, including you.