How To Get Started With Bitcoin – And Start Earning From It!

How To Get Started With Bitcoin

During this post I will be explaining my recent foray into the world of cryptocurrencies, especially the most popular one of the them all, Bitcoin.

Its certainly an area which offers opinions both side of the fence, but as you may or may not know I like to take punts on things like this. But this I don’t think is a punt.

You can buy Bitcoin today with just a debit card and a digital wallet. I will cover how you can buy some later in the post.

Just over a month ago I purchased my very first holding in Bitcoin. I purchased $100 worth in an popular exchange using just my debit card. This small amount is held in my digital wallet.

I purchased that amount when the price was around $5000 per coin. Just over 1 month later its around $10000 per coin.

Update: 8/12/17 it has since risen to over $15,000 per coin

So, it doesn’t take a genius to work out that my original stake of $100 has now grown to close to $200.

The market does fluctuate all the time, every minute sometimes! But overall here is the trend for the last month.

1 month bitcoin chart

As you can see it has some quite erratic behaviour, throughout the middle of the month it dropped back to its month low price but then went on a surge. This is quite “normal” behaviour due to many factors. Media hype (good and bad) certainly help this spike and dip.

I have no trading experience whatsoever but as I said above I have made investments in other platforms and products before. Some made me money others lost me money.  So you should not take what I say as advice, I am just offering what I am currently doing. If you want to jump in after reading this post then that is 100% your responsibility.

Now we have cleared that up lets continue.

Here is the lifetime chart for Bitcoin since its creation in 2009.

lifetime bitcoin chart

I know what you are thinking.

“That looks ready to burst at any time now……”

And you could be right. In fact several of the old institutional banks etc all predict it will.

But they hate it.

The very nature of an open ledger scares the hell out of the banks, imagine a world where there would be no central control.  Bitcoin is owned by the network of people that use it.

Here is a brief explainer video to get you started on it. This guy is the undisputed king of the Bitcoin world, he’s very pro – you could say one-sided in his approach to it. You have to admire his enthusiasm for it and knowledge, I for one am a fan. This video by Andreas Antonopoulos explains what it is and the importance (in his eyes) of it.

I have one of his books and his view of the world is quite amazing. I have spoke of similar views often to my colleagues and peers and got some quite bizarre looks!

I must admit, I for one am a bit of a fantasist. I am also a big fan of tech, I can remember being amazed by email at a time when not everyone had an email address.

So while the banks and other big market players are all saying Bitcoin is a fad, a fraud, a scam, a  ponzi etc etc I would like to point out a few other predictions the world got wildly wrong….

1903: President of the Michigan Savings Bank said “The Horse is here to stay, the automobile is only a novelty – a fad”

1912: Guglielmo Marconi said “The coming of the wireless era will make war impossible, because it will make war ridiculous.”

1920: The New York Times “A rocket will never be able to leave the Earth’s atmosphere.”

1977: Ken Olsen, founder of the Digital Equipment Corporation said “There is no reason anyone would want a computer in their home.”

2007: Matthew Lynn, in Bloomberg after the January announcement said “The iPhone is nothing more than a luxury bauble that will appeal to a few gadget freaks.”

I could go on but you get the idea.

So, how do you get involved.

There are three ways that I am familiar with. You can buy some from an exchange and keep it in there, you can buy some and keep it in a secure wallet on your computer or phone, or you can mine it.

I do all three.

Method Number 1 – Coinbase

The most complex way is mining, if you have seen the videos on the large mining companies they spend millions of dollars setting up massive infrastructures of PC’s to mine.

It can be very expensive. However you can become part of a cloud mining program which I will explain later.

There are loads of exchanges and places you can buy Bitcoin but I will only cover the places I have used. If you suggest others please do in the comments below.

My first ever purchase of Bitcoin was with Coinbase – this is probably the easiest of the three. You can head over a get started straight away and you can buy straight from your debit card.

If you use my link here we both get $10 of free bitcoin after your first deposit of $100 or more.  

If you are a bit of a phone junkie then Coinbase also have a cracking app so you can check the charts and how your investment is going each day, or in my case every 20 minutes or so! Be warned, the charts can get addictive!

This is an ok entry level but technically Coinbase owns your Bitcoin as they hold the keys to your wallet. I would not be put off or scared by this but its worth noting if Coinbase ever got hacked then potentially so could all the accounts holding currency.

I hold one third of my investment portfolio here.

Method Number 2 – Exodus

The next method is to store some in a wallet of your own. There are many wallets available online, some free, some paid.

I use Exodus which is simply superb. I really like it. In order to store your Bitcoin in here you will need to “send” it to your wallet from somewhere where you have purchased it.

To purchase hassle free I used a site called Coinmama

Here you can buy hassle free with your debit or credit card. Once you are ready to purchase you will need to let Coinmama know where to send your Bitcoin. This is where you copy your wallet address into the system.

So, grab your wallet address from Exodus.

exodus wallet

Then after you have selected the amount you wish to buy from Coinmama you will then be asked to paste in the wallet address you wish to send it to.

Paste in your wallet address here.

paste bitcoin wallet address

Once you have pasted it in click “Proceed to Checkout” where you will fill in your card details to complete your order.

After you have completed your card details and clicked buy your order will need to be confirmed via email. They will email you a link asking if it is your wallet, confirm this by clicking the link in the email and your order will be processed.

wallet confirmed

It can take up to 15 minutes for your Bitcoin to arrive in your exodus wallet. Don’t panic.

That’s it – if you followed these steps well done, you are now part of the Digital Currency world!

Method 3 – USI Tech

This method will not be for everyone, but it could actually end up being the most profitable. I shall explain.

With this company you invest in part of a massive mining program. You can start with as little as 50 Euros. With this you buy “packages” of Bitcoin.

You will get a return of around 140% in around about 150 days and the beauty of this is you can reinvest all your profits to buy more. I have set all my investments to 100% rebuy.

It could be an interesting ride.

usi tech buy packs

I am very new to this platform and it is an MLM site, so the business opportunists will be out there blasting their link everywhere to join their “team”.

Whist I am not a fan of a lot of MLM programs simply because they do not offer a product at all this firm does seem a little different. They are using Bitcoin sure, and without new members would they stay afloat? The jury is out, but I will take a gamble for $50.

I know a few guys making some very good bank on this from their daily profits. You can withdraw when ever you want so its very transparent.

If you want to join me on this ride with USI-Tech sign up using this link and I will show you the ropes.

If you are going to use USI-tech just start with the minimum of $50 to buy your first pack. Once you see it earning daily and learn a bit more from the groups you can invest more. Entirely up to you.

We can win or lose together!

Wrap Up Video On My Thoughts With Bitcoin!

As with any investment, never risk what you can’t afford. I am no way a financial expert or adviser.

Here is a quick video on my thoughts, please watch this before making ANY decision.

If you decide to jump in I have presented 3 options above that I am personally doing so we can ride it together.

Let me know in the comments below too if you have other opinions, I’d love to hear them!

Thank you and good luck!

Those options once again with full disclosure of affiliated links:

Coinbase – We both get $10 if you deposit $100 or more on your first deposit. http://sideincomeman.com/coinbase

Coinmama – 5% Referral fee http://sideincomeman.com/coinmama

USI-Tech –  Become part of the cloud mining team and get access to exclusive FB groups http://sideincomeman.com/usitech

 

Make £1000 Risk Free This Month With Matched Betting

my oddsmonkey matched betting account

Matched betting is nothing new really, broken down its simply a way of moving money from one platform to another.

The best part is you get to keep the money and use it as you wish.

It is completely legal, completely tax free and completely safe.

You will need to know some basics of how it all works though. Once you get your head around it, it is straight forward.

I have personally done this and I can confirm 100% that the method works and I got paid pure profit of close to £1000 with no problems at all.

So, What Exactly Is Matched Betting?

Some people like to think of matched betting as a form of gambling, I guess is sort of is but it’s entirely risk free. So, think of it as gambling, but without the gamble part.

Matched betting (also known as back or lay bet matching, or double betting) is a betting technique used by individuals to profit from the free bets and incentives offered by bookmakers It is generally considered risk-free as it is based on the application of a mathematical equation rather than chance Wikipedia

You are using the bonus offers that bookmakers like to give as an incentive to new customers. If you have ever placed a bet online before then I am sure you would have seen these offers.

If you are completely new to sports betting then you most likely would have not. (But this is nothing to worry about and in actual fact means you can take advantage of more of the new sign up offers!)

Bookies these days are desperate to get new customers and there is a lot of competition for you.

So, let me try and break it down as a simple example.

Let’s say Bookmaker1 has an offer for new customers where when you sign up with your first deposit of £10 you get £30 in free bets.

So, you deposit £10 (usually a minimum) and sure enough they credit you with £30.

Unfortunately, you can’t just withdraw the free £30, it has to be used as free bets.

They will often have restrictions on the type of bets you can make with them.

But what if I said you can bet the £30 in free bets which guarantees you recoup most of it as pure profit? Remember, this is FREE money.

Interested? Good, I shall continue.

Let’s continue with the above offer as an exact example.

You first have the bet your £10 (that you deposited to open the account) but you also have to place a bet called a “lay” bet on the same match using an exchange. (Don’t worry, I will give details of a site which explains all these terms later on)

This effectively cancels out the bet. So, either if you win on the bookie you lose on the exchange or if you lose on the bookie you win on the exchange.

After the first transaction you are still sat at £10 as one would have cancelled the other out effectively.

Now you are eligible to use the free £30 bets and you haven’t lost anything yet.

You simply do the same. You place a bet with the bookie for your £30 and lay the same bet with the exchange. This way whatever the outcome you are going to get about 85% of your £30 back as FREE CASH.

The reason it is only 85% is taking in to account that the odds don’t always exactly match and the exchange takes up to 5% commission for each bet. Only the exchanges take commission not the bookies.

What Are The Exchanges?

The betting exchanges are effectively a platform where you can become the bookmaker. Again, nothing to worry about and ANYONE can do this.

The two most popular exchanges right now are Betfair and Smarkets. You will need an account with at least one of these, I recommend getting set up with both.

Smarkets offer a lower commission at 2% and Betfair use 5%.

The reason I say get both is sometimes the odds match on one but not the other.

Do I Need To Do My Own Calculations To Work This Out?

I must admit having just reread my explanation it does sound a little confusing, especially if you have never placed a bet before. Please bear with it.

Going back a few years you would have needed to calculate all your own matched bets. Whilst it is straight forward you no longer even need to calculate your own bets.

There are many programs and platforms on the internet now that will do this for you.

But, hands down the best platform for matched betting is a website called OddsMonkey

They have on-site calculators that DO ALL THE HARD WORK FOR YOU.

They even go one better and show you the EXACT BETS to place.

The structure of the website is amazing, they have video tutorials on every bet to get you started. The first matched bet you will do will earn you about £16 in about 10 minutes “work”.

What Do I Need To Do Next?

I totally understand if you are a tad sceptical, I was at first. We are taught that if it sounds too good to be true it must be right?

Not the case with this. I can assure you that this is genuine and many thousands of people are doing this. You can trust me.

Like I say with all the tutorials and posts on the site either I personally do them still or I have done them in the past, or at the very least I know some one that is doing it.

With this I personally am doing it.

Here is a snapshot of my own account.

my oddsmonkey matched betting account

I HIGHLY recommend heading over and setting up an account with them. It costs £15 a month but you will make that back on your first bet.

You will obviously need some investment on your own part to get going. This is all explained in detail on the site.

You will see from the picture above that I have only just scratched the surface with this method and there are tons still to go through on the site.

I personally have made close to £1000 using matched betting and after doing one or two bets I found it very straight forward and you will too.

There are people in the OddsMonkey community earning £2000 a month doing this. Some people have even hit insane jackpot offers buts that’s another story.

Please watch this short video from OddsMonkey where they explain in a bit more detail.

Even after the new sign up offers have been used the bookies will keep on sending you offers. You just have to play them correctly using the exchange so you can’t lose. One way or another your money will be safe and you will profit either via the bookie or the exchange. Its win-win!

I will let you decide but please if you want a second income (or third or forth!) then this is really worth checking out.

If you decide to go for it then that’s brilliant news! I wish you all the best with it and please keep in touch so we can share stories and bets!

If you sign up through my OddsMonkey link here then I will earn a small commission from them which will help with my site running costs etc. Totally up to you of course.

You are in really safe hands with OddsMonkey. Their support group is amazing and they have a dedicated forum for users to share their success and help each other out.

Thank you for reading, I really wish you the best of luck (which you don’t need!) in your matched betting journey.

If you have any questions or just liked the post then please drop a comment in below!

Do you think any of your friends would like this? Feel free to share it with them. There is enough for all to go round! A truly excellent side hustle!

You can click the banner below to get started.

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