How to make money from Bitcoin? Hi guys, this is Lesego Tjaji, I am talking about an exciting topic today So, how do I make money out of bitcoin? There is three ways of making money out of Bitcoin You either buy and hold Bitcoin or you trade Bitcoin or you can mine Bitcoin.
Alright, so lets go through the different steps the first one buying and holding bitcoin How do you do that? Its very easy guys If youve got a phone and youve got internet connection, just go to your phone go to your App Store download an application Its called Luno once youve downloaded it. Its called Luno Bitcoin wallet. Once youve downloaded it register on it Its free of charge once youve registered on it then You youve registered then youll see theres an option that says deposit money Click on that option to deposit the money follow the instructions in the its very very straightforward Once you deposit that money onto Luno you will get a notification from Luno to say theyve received your deposit Then from there you can click on buy on Luno and convert that money to Bitcoin and you done Now, how is your money going to grow? Lets say for example, youve put in two thousand rands in that Luno Bitcoin wallet and Now what happens is once youve put money in there your money will grow based on what happens to the value of Bitcoin For example today the value of bitcoin is sitting at hundred thousand rounds per coin Therefore if the value goes up by 10 lets say next week Then your money will grow by 10 whatever money that youve put in if youve put in two thousand runs it will provide by 10 but There is a big part on this one There is a chance of you losing money on this one when the value of Bitcoin drops there is a possibility there Is that you will lose money When developed bitcoin goes up you will make money All right, so its very critical that you understand that when choosing this option There is a possibility of you making the money and theres also a possibility of you losing some of the money Depending on what happens to the value of Bitcoin So as the value of bitcoin goes up you can make money and as it goes down you lose money if the value drops by 5 you will lose 5 of whatever Amount youre left with on your Luno Ive actually heard that theres people that charge to do this for you.
Dont pay anyone to do this for you. Its very straight forward. You can do this yourself The second way of making money its called Trading Bitcoin now. How do you trade Bitcoin?
Trading Bitcoin is really about buying and selling and you buy low and you sell high Alright, so you can get a company that can do that for you. If youre not confident to do it yourself. Oh You can actually look at the graphs and actually look what at what time is it?
Its a great to sell at what time is it? Great to buy and then the last one which is really my favorite one. Its mine in Bitcoin where by now What happens is you collect fractions of a Bitcoin your goal as an investor in Bitcoin is to get to half a Bitcoin one Bitcoin two bitcoins three bitcoins for Bitcoins many many many bitcoins 200 bitcoins that is your goal. Your goal is to accumulate as many bitcoins as possible So what you want to do is you want to be able to collect as many bit coins as possible So the process of Bitcoin mining helps you to collect as many Bitcoins as you possibly can Depending on how much money youve invested so what happens is you can invest through a company and that company shares profits with you Based on how much theyve made for the day and they give you fractions of a Bitcoin as a payment on a daily basis So that helps you try to emulate fractions and the nice thing about this one is really you not affected that much by the article, but couldnt going down or up or whatever because Now what happens is?
Actually when you are mining Bitcoin you want develop you can to remain low so that you can collect as many as many bitcoins as possible right now While the bitcoin is low. So that should develop it can go up again Then your money will be worth far more than what it is today so practical example Lets say your mining investment has generated one Bitcoin for you in a or in two years in whatever periods that youve waited for Now if thats the case if you rush to withdraw that money today Then that money will be worth one hundred thousand runs today but if you wait Lets say you wait a couple of months and value of bitcoin goes to go all the way up to three hundred thousand rands Like it did last in November then that means that money will now be worth three hundred thousand rands So its always better for you to collect as many because as possible right now While the value is as low as possible so that when the value of Bitcoin picks up again later Then you are able to reap from that investment. I hope it makes sense. Let me know if it makes sense subscribe to the channel Let me know if you need any information Thank you so much for listening