I’ve been investigating and fooling around with this for about 6 months now. It’s something that I have known for a long time that I should be involved in but frankly it’s confusing and there are just so many hoops to jump through. My problem is that I’m a busy guy with a large family and a career as well as lots of other things that take my time up and I just don’t have enough hours in the day to take on a complex Bitcoin strategy. However, I’m not missing out either. I’ve finally found a middle of the road approach that keeps in mind my need for simplicity, but also enables me to leverage the power of crypto-currency. I’ve got people asking me what to do and instead of saying it over and over I figured it would be better to put the plan of action down here.
Now, before I do so, let’s start with some disclaimers.
- I am not a Bitcoin expert. I’m just a guy that has done some research, played a bit and wants to leverage this.
- There are definitely better ways to maximize your results then what I am doing but you need much more technical knowledge and you need to spend more time and effort which I don’t have.
- This strategy is a combination of Simplicity and Fruitfulness.
- This is not a get rich quick strategy. This is a long haul, 5-7+ years strategy and it completely depends on what Bitcoin does during that time.
If we can agree on those, then read on.
The Basic Strategy
- Buy Bitcoin
- Invest Bitcoin with a trading company
- Pull out your initial money from your profits.
- Leave all of the rest of it in for 5 years+
The advantage to this is that I am able to make money on both the investment of the Bitcoin and also the price difference of it when I buy and sell. So for example, let’s say I buy .5 Bitcoin at $5,000. This would cost me $2500. Let’s say I invest that .5 Bitcoin and over the years it turns into 1.5 Bitcoins. At the time of selling however the price of Bitcoin has increased to $10,000. My initial investment of $2500 just turned into $15,000 because my Bitcoin holdings grew, as did the price of Bitcoin.
Let’s make it even simpler. Here is exactly what I am doing and how you can do it also…
Go to Coinbase and create a free account. This is an exchange where you can buy and sell currency. Yes, there are exchanges that give better rates and other bells and whistles but this one is simple.
- After you set up your account you need to add a payment method and verify it. I suggest using a debit card because this will give you instant results and you are able to purchase Bitcoin very quickly. When the price changes by hundreds of dollars per day this is import.
- You will need to verify your account with a code to your cell phone and also verify your identity. Do this right away as you will not be able to purchase until it’s completed.
After your account is verified you can purchase Crypto-currency.
- Go to the BUY tab and select your payment method and how much you want to buy.
- You will want to make sure and use the dropdown and choose DEBIT instead of bank draft (which will take 5-7 days).
- Buy it in increments of $60 but add a couple of bucks more for transfer fees and so on. For example, in the picture below I am buying 2 $60 packages and I threw in $10 extra for a total of $130.
Now, on to the investing part. The next step is take our newly purchased BitCoin and invest it with a trading/mining company. I am using USI-Tech. This is a company that has been around for over 10 years in the Forex Trading industry and in the last year has moved into offering BitCoin as well. it is extremely stable, very transparent and looks to have real staying power.
- Go to USI-Tech and register for an account.
- Log into your new account and go to your Profile. Add in any missing information.
- Go to Shop in the left sidebar and purchase an investment package. You want the package on the left that says, BTC Package.
Here’s how that works. You invest in “Packages” which are $60 USD. Each package runs for about 140 days and you will get an anticipated 40% profit on your money. So, put $60 in and you get $84 out in about 140 days. Your principle and profit is deposited in increments to your account daily. At the end of the 140 days that package is finished and inactive. You can Rebuy and do it again anytime you want.
I advise starting small until you have confidence in how all of this works. I started with one package of $60 because I figured, “What the heck, it’s only $60, let’s see what happens.”
But here’s the amazing thing…. the Bitcoin continues to compound daily and if you set your account to Rebuy then it grows exponentially over time. Let’s see what that looks like.
We can use the ReBuy calculator in your account to show us how things grow. It uses what are called “Working days” so no weekends or holidays. Here is what 1 year does as you Rebuy continually:
So, not really a big deal. You ended up with .03 Btc which at today’s prices is about $168. So you made $100.
However, imagine that Bitcoin increased in price during that year to $8,000. Now your $60 became $240.
Now at this point you can pull out your initial investment of $60 and play on the house’s money or you can leave it in and let it grow. Let’s look at what happens if you let this run for 3 years…
Now you have .355 btc… at today’s prices your $60 turned into over $1900 and that is if Bitcoin stays at the same price. Imagine if it goes to $10,000.. but this gets better.
Here’s 5 years, where the growth really starts… at this point you’re no longer waiting 140 days for new packages to Rebuy. Remember, your profits come every day and so as soon as they equal $60 another package is purchased. You’re literally gaining new packages automatically everyday…
Your $60 investment now became 4.7 bitcoins which at today’s prices is over $20,000.
Now, we’re going to do one more of these just for the dreamers… 7 years is where the growth explodes.
You now have 66 Bitcoins…. over $350,000 by today’s prices… imagine if Bitcoin is $20,000 then…
Too good to be true?
Maybe. I don’t know. The power of new technology, worldwide appeal and compounding interest is way too attractive to pass up for me though. The way I look at it is “What if?”
What if I invest $60 and get nothing? So what?
But what if I invest $60 and turn it into half a million dollars?
I started with one packet. I have since bought 2 more. I’m in for a total of $180. I’ve spent money on dumber things… let’s see what happens!
I will close with one thing that I think ought to be abundantly clear. This is exciting. It has a ton of potential. It is also volatile and could crash at any moment. Nobody knows. This is NOT something to put your life savings into. Never invest more than you can afford to lose!
If I can be of any help reach out!