What is cryptocurrency?

Bitcoin, a type of cryptocurrency, logo

I have a confession to make; I’m not quite so broke any more.

In December 2016, I started trading cryptocurrency online after receiving a tip from a friend that one particular coin was heading to the moon…

The thing is, I didn’t know anything about trading. I put in $9000, all the money I had in the world and some of it from credit cards, and then promptly lost a fuck ton of money as I made stupid mistakes and panic-sold on dips. Pretty quickly, my stack was ground down to $5500.

I settled in and over a few months I taught myself to trade cryptocurrency. Luckily, the market is on a strong upswing so I didn’t even have to be particularly good. Today, mid-May, my cryptocurrency portfolio is worth nearly $60,000. That’s one hell of an increase from $5500. I am hoping to hit $120,000 by the end of the year.

I only spend about eight hours a week trading and sometimes when I am in countries like Pakistan or Bhutan I am unable to trade at all for three weeks. This isn’t a problem for me; I’m not a daytrader, I’m a swing trader – I try to catch big swings in the market, I buy low and sell high, sometimes holding a position for weeks or months before I can exit at a profit.

Right now, investing in cryptocurrency offers more potential reward than any other investment opportunity.

What is cryptocurrency?

Surely you’ve heard of Bitcoin? Bitcoin was the first cryptocurrency and was used for anonymous transactions on the web.

Cryptocurrencies are best thought of as stocks or commodities – Bitcoin is gold. After Bitcoin there are 10 – 20 other coins that are bluechip coins; these are coins with a large chunk of the crypto market, a dedicated following and a real application – For example – Monero is a coin which focuses on absolute privacy. If you buy something or are paid for something online with Monero, it is impossible to trace the transaction.

These 10-20 bluechip coins are the safest long-term investments.

Then there are hundreds of other coins, the shitcoins – which usually start off with a value of almost nothing; We’re talking values of a couple of hundred coins per US cent.

 

Why should I care?

Right now, trading cryptocurrency offers a truly incredible potential return.

In July 2010, the price of a single Bitcoin was eight cents.

Today, the price of a single Bitcoin is $1500 dollars.

By the end of the year, Bitcoin will surely pass $2000.

The lower the value of a coin, the easier it is for you to double your money. Doubling your money on Bitcoin is still possible; but a jump to $3000 probably isn’t going to happen anytime soon. 

Other coins have exploded in value and popularity over the last few months and I believe that the window to enter cryptocurrency trading in rapidly closing – soon, most of the bluechip coins will be extremely expensive.

 

Why are you telling us this?

I feel compelled to spread the word; cryptocurrency is an amazing chance to make a fuck ton of money with a relatively small investment. The problem is, the window is closing as I predict that numerous coins will double in value this year. Once these coins have doubled in value a couple of times, it gets harder for them to continue to double as the total value is much greater – this is why it’s now so hard for Bitcoin to double, it’s so fucking expensive.

Anyways, I digress.

I don’t want to make a business out of selling cryptocurrency tips – I’m simply too damn busy. There is an affiliate link in this article but it earns me $10 per signup which, let’s be honest, is nothing when you’re making $500 – $1000 trading crypto in a day.  I simply want to arm you with this information so that you do not miss out on the next Bitcoin.

 

How can I get involved?

Firstly, it’s important to make sure you only invest money you can afford to lose – trading cryptocurrencies, or any other stock or commodity, carries a risk.

My advice is simple – purchase ten of the top coins and hold them for a year – Sign up to the newsletter (at the bottom) and I’ll send you a couple of my top picks for coins to invest in.

If you want to dip your toes into trading cryptocurrency, then my top tip for cryptocurrency trading beginners is to simply invest in Ethereum (Eth).

Ethereum is widely considered to be the biggest contender to Bitcoin and after Bitcoin, Ethereum has the largest chunk of the cryptocurrency market – it is, in my opinion, a relatively safe bet.

Interest is strong and I predict Eth will hit $100 a coin by the end of June. Once it has broken the crucial $100 mark, anything is possible – $500 in five years is not out of the question.

Since January, the value of Eth has skyrocketed from $6 to $89 – except, right now, as I furiously mash my keyboard, the price has actually dipped to around eighty dollars; which is probably the lowest it’ll be anytime soon. You can buy Ethereum here  – if you use this link we will both get $10 of free Bitcoin).

Ethereum against the US dollar over 3 months

 

FAQ’s on investing in Ethereum

How high could Ethereum go?

ETH is extremely likely to hit $100. Here’s hoping for $500.

Is now the best time to buy?

Nope, that was four months ago.

Can I still double my money?

Yes, that is possible but not guaranteed.

Is there a risk?

Of course. In my opinion, there is an 80% chance you will make money on Ethereum if you buy it soon and can sit on it for 12 months.

Are you available to answer all of my questions?

Nope.

How do I buy Ethereum?

Most cryptocurrencies must be purchased with Bitcoin but Ethereum is paired against the dollar as well and you can buy Ethereum here using USD – If you use this link we will both get $10 of free Bitcoin.

I’m having a problem with coinbase?

This is free advice, I’m not tech support. Coinbase is legit and trustworthy, open a support ticket if you have a problem.

I want to invest in lots of coins, which coins should I buy?

Sign up to the newsletter to be kept in the loop.

Disclaimer: I am not a professional (or even a veteran) trader. I am an intermediate trader with a passion for cryptocurrency. I am disclosing my own ventures in crypto because cryptocurrency trading does make up a chunk of my online income and I want to be 100% transparent with you when it comes to making money online. Investing in cryptocurrencies carries a risk – you may lose some or all of your investment. Always do your own research and draw your own conclusions. Again – this article is aimed purely at advising; draw your own conclusions on whether cryptocurrency trading is right for you.

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