I am talking about an exciting topic today So, how to make money from bitcoin in 2020? There are three ways of making money out of Bitcoin in 2020. You either buy and hold Bitcoin or you trade Bitcoin or you can mine Bitcoin.
Alright, so let’s go through the different steps the first one buying and holding bitcoin How do you do that? It’s very easy guys If you’ve got a phone and you’ve got an internet connection, just go to your phone. Go to your App Store download an application. It’s called Luno once you’ve downloaded it. It’s called Luno Bitcoin wallet.
Once you’ve downloaded it register on it It’s free of charge once you’ve registered on it. Then You are registered then you’ll see there’s an option that says deposit money Click on that option to deposit the money follow the instructions in it’s very very straightforward. Once you deposit that money onto Luno you will get a notification from Luno to say they’ve received your deposit Then from there you can click on buy on Luno and convert that money to Bitcoin and you are done you successfully buy Bitcoin.
Bitcoin price increase-
how is your Bitcoin is going to increase? Let’s say, for example, you’ve put in $120 in that Luno Bitcoin wallet. Now what happens is once you’ve put money in there your Bitcoin will increase based on what happens to the value of Bitcoin, For example, today the value of bitcoin is sitting at 1$1995.00. Therefore if the value goes up by 10% let’s say next week Then your money will grow by 10% whatever money that you’ve put in if you’ve put in $120. It will provide 10% but there is a big part of 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 it’s very critical that you understand that when choosing this option. There is a possibility of you making the money and there’s 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 you’re left with on your Luno I’ve actually heard that there are people that charge to do this for you. Don’t pay anyone to do this for you. It’s very straight forward. You can do this yourself.
The second way of making money. it’s called Trading Bitcoin now. Make money from Bitcoin in 2020? Basically Bitcoin now is a Trading platform. 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 you’re not confident to do it yourself.
Oh, You can actually look at the graphs and actually look what at what time is it? It’s great to sell at what time is it? Great to buy and then the last one which is really my favourite one. It’s mine in Bitcoin whereby 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 bitcoins as possible. So the process of Bitcoin mining helps you to collect as many Bitcoins as you possibly can Depending on how much money you’ve invested so what happens is you can invest through a company and that company shares profits with you Based on how much they’ve made for the day and they give you fractions of a Bitcoin as a payment daily So that helps you try to emulate fractions and the nice thing about this one is really you not affected that much by the video, but couldn’t be going down or up or whatever because Now what happens is?
Actually, when you are mining Bitcoin you want to 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. Let’s say your mining investment has generated one Bitcoin for you in a or in two years in whatever periods that you’ve waited for Now if that’s the case if you rush to withdraw that money today Then that money will be worth one hundred ISD. Today but if you wait Let’s say you wait a couple of months and the value of bitcoin goes to go all the way up to three hundred USD.
So it’s 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 can reap from that investment.