Hi there. If you are reading this, i suppose that you already know something about cryptocurrencies and Bitcoin in particular. Nevertheless, i’d like to share some knowledge here, so you can follow my steps and become successful crypto trader, just like me.
It will surely be a subject for another article in the future, but nevertheless, here is my advice: invest in bitcoins, don’t buy them. It’s better to buy cryptocurrencies now and speculate bitcoin exchange rate.
So, first of all, why do I mostly buy rather than mine bitcoins? When i just started making money mining cryptocurrency, I was an enthusiast BTC miner. Now i quit mining, and i’m happy. Is it worth to mine bitcoins? No (until you use Cloud Mining, i’ll tell you about it in another article). Here’s just a shortlist of cons of mining (and believe me, they overwhelm all the pros):
- As you know, there can be only 21 million BTC possible, and 18 of them are mined already. Mining difficulty level has increased dramatically.
- The reward for each block of bitcoin has decreased and it is basically being halved every four years. When i started mining cryptocurrencies, including BTC, it was bout 50 BTC per block, now it’s 12.5 BTC per block.
- Competition level increased immensely, since lots of people are entering this industry now. In 2019 you will not even cover the electricity costs with home mining.
- Lot’s of expert miners will compete you. They have enough money to rent a warehouse and to buy professional bitcoin mining farms. You don’t.
Considering all of the above, i quit mining from home and began trading cryptocurrencies on crypto markets. Yes, i already had some BTC to start trading. But it is not a problem if you don’t have any. You can just buy bitcoins online. First of all, you’ll need a bitcoin wallet. You will also need a VirWox account. In a nutshell, VirWox is a great alternative to Paypal to buy Bitcoins (remember that you can not purchase BTC with paypal). In this article i’ll tell you how to buy bitcoins using CoinMama, a great and affordable bitcoin selling site. The only disadvantage is that you’ll have to pay a commission, but I assure you that it will not be a great burden, and the advantages are overwhelming, since CoinMama:
- accepts fiat currencies
- allows instant fund transfers
- has user-friendly interface
- has 24/7 available user support
- has insanely high security level
Let me show you, just read below.
Buying cryptocurrencies using CoinMama in five simple steps
Step 1: First of all, you’ll need to fill in a registration form. It should not be a problem.
Step 2: Next, you’ll need to prove your identity (it is a part of their policy, your ID confirmation is mandatory to buy cryptocurrencies online). Just apply your ID, it will be enough.
Step 3: Next, you will need to decide on the cryptocurrency you want to buy (I suggest you buying BTC anyway). Just press Buy Now button below. You should also double check your Bitcoin Wallet ID, since any transaction is irreversible. Be attentive.
Step 4: In order to complete the purchase, you’ll have to select the payment method that is suitable for you. Once the transfer is verified, your Bitcoins will be immediately delivered to your address. Congratulations on your first buying bitcoins online!
Be sure to check other articles, you’ll find tons of useful info about cryptocurrencies and online trading. See you next time!