In less than a decade, Cryptocurrency has grown from a simple digital currency to a still-growing lucrative industry.
Early adopters, folks who took the risk, who foresaw profit and invested in digital coins are now experiencing financial buoyancy.
It all started in November of 2008 (well, maybe before) with the digital currency master called Bitcoin. Little was known about it as the coins were almost meaningless. With a few cents, buyers could just walk away with hundreds of coins.
No one seemed to see the million dollar value embedded in the simple computer database units. In 2010, the most expensive Pizza was sold for 5000 Bitcoins. See story here as this is worth $20,960,000 ($20bn) today. This is the killer Pizza sale 😉
Kristoffer Koch at 29, threw away $22 in the Bitcoin market, forgot it there and only came back to uncover a whopping $850,000 four years later, BBC tells us here.
Stories of Bitcoin millionaires fill the media today. Fortunately, though we missed the Bitcoin’s golden beginning, the industry has grown today giving the opportunity to everyone online to become a cryptocurrency millionaire.
Related: 5 reasons to invest in Cryptocurrency
How to make money in Cryptocurrency
Cryptocurrency investment is in different phases but I want to look at buying coins when they are almost valued at nothing or cents. It could be more expensive to invest in buy mining machines (computers that generate digital coins) or creating your own coins. But everyone with $5+ can own coins by buying them from someone with the hope to resell on online exchanges and make a profit.
Buy coins when they are cheap
Digital currencies often start with a very low value. With time, the value grows as a result of demand and supply forces at work. Unlike fiat currency, the value of the digital coin is not decided by governments or any central body. The bigger the coins community (number of people buying and selling with the coins), the higher the value grows.
The more the demand for the coins, the higher the value. As people stop buying and transacting with the coins, the value will drop correspondingly.
NB: The Billion Coins (TBC) functions differently. See this post by William Otoole
Ok let’s look at Bitcoin growth:
A Bitcoin (according to coinmarketcap) on the 28th of April, 2013 was $135.58. If you invested $1000 in buying the coins, you were to get 7.38 coins right?
What’s the value today?
Today, your investment was going to be worth something around $30,634 and that’s 4 years after. No Bank is ever going to pay that kind of interest.
But here is the point…
Buying Bitcoins now with the hope to resell for profit is not wise at all. The value has overgrown that limit except you are expecting it to grow to $1 million per coin as predicted by Wences Casares of Paypal
In 2009 when Kristoffer took his first step in Cryptocurrency, a single Bitcoin (BTC) was valued at $0.0044. That’s how he got up to 5000 coins for just $22. That was a golden period to invest.
Find coins that are low in value
What I recommend now is to buy coins that are low in value. When the value grows, you are sure to make profit.
But it’s not an easy task. There are hundreds of coin projects today, including scam or fake opportunities. That makes it not easy to find a legitimate new cryptocurrency opportunity.
Where do you find these coins?
The cryptocurrency marketplace is constantly growing with coin owners devising different methods to get the word out.
Some popular cryptocurrencies like Swisscoin, FirstCoin, etc have embraced the network marketing strategy. You will need a sponsor to join their ecosystems.
Today, TBC (The Billion Coin) has also voted in favor of MLM through its Kringle.cash platform.
Others are going with Initial Coin Offerings (ICO). This approach has given birth to the ICO markets where investors can easily find profitable blockchain startups to invest.
In ICOs, blockchain startups sell some of their currency units (generally called tokens) to investors at a ridiculously low price. This is done in other to raise funds to sponsor their projects.
Investors who buy tokens hope for the growth in the value of those tokens, with an option to trade them on cryptocurrency exchanges and make huge profit.
ICOs are a gold mine
Investors are making a lot of money in the ICO industry. While this is proven to be a huge money making business, it can also be a big pain with lots of scam coins popping up here and there.
In my ICO Money report, I discussed ICOs to a greater extent, pointing out some gray areas to pay attention to.
You may want to grab a copy of my report here for free. This also shows you some details on where to find profitable ICOs and how not to be scammed.
Let me know what you think making money in cryptocurrency in the comment box. If you like the post, share on social media and link to it from your blog.
Enstine
Crypto currency is going far in making millions of people rich if they play but religiously.
Thanks for this cool post, Enstine.
Joseph Chikeleze recently posted…Top 10 Highest Paid Celebrities in The World Under 30 – Updated 2017 List
Hi, Enstine thanks for providing this amazing and unique article.You gave the detailed info about crypto currency.
Amazing post , i learned many informational facts from this article thanks mate
I like to invest in Bitcoins as they are rocking most expensive then gold i do the bitcoin mining and earn small amount and it’s much useful article for cryptocurrencies investors.
pan card status recently posted…Scam Review Bitnex.biz is it legit or scam know more here
i must say, a BIG THANK YOU! for sharing your knowledge. i love this post really.
Egbuachor Anthony recently posted…3 social media marketing mistakes that can attract penalty
Very nice and informative article! Did not know much about crypto currency and its prospects though heard about bitcoins. Its disheartening to see that most of us missed the bus, can’t wait to hop on a legit bandwagon in the hope to reap riches in future. Many thanks!
Ron Pickle recently posted…How to Find a Good Roofing Company?
“Cryptocurrency has grown from a simple digital currency to a still-growing lucrative industry.” Nice to hear i will invest a little to see how it turns out.
Great article.I will follow your step.
Air Purifiers recently posted…Top 10 Best Kohler Shower Heads in 2017 Reviews
Hey Enstine! Good to see you here on PAC! I did invest in a few cryptocurrency programs that turned out to be Scams and now am a little hesitant to look into anything else right now GRRRR
But thank you so much for the info and good luck to you my friend..
Chery :))
Oh sorry to hear that my dear friend. I can understand the GRRRR effect that comes along with losing to some lousy scammers. That’s why I always recommend investing just the amount one is ready to let go.
But don’t surrender though 😉 there is still room to make big sums. Build up courage and look around. I’m sure you will get something to catch up with 😉
Enstine Muki recently posted…$4,040 Profit in 30 days from Initial Coin Offerings (ICO)
Thanks for sharing such a great article.
It will help me a lot.
Keep it up.
aftab dawa recently posted…Landforms | What is Landforms | Essay on Landforms
Thanks for sharing I appreciate it
Hi Enstine
Good to see you in PAC with information about crypto-currencies.
I have a small amount of Kringles and a small portion of a BitCoin – I’ve not checked recently how much either is worth as I’m not very active with cryptocurrency. Better go and check 🙂
I will look out for your ICO information.
Joy Healey – Blogging After Dark
Hey Joy,
Thanks for the reply. Both BTC and TBC are growing their respective marketplaces. With time, your “small amount” will surely build up into some good sums. So don’t be in a hurry to spend 😉
Enstine Muki recently posted…BitConnect Lending ~ Step-by-step guide to earning 40% a month!
Dude, you’ve nailed my grandpa’s money making advice: ‘buy low – sell high’! Pretty simple, if it wasn’t for the agony inside the chasm.
I’ve not looked at investing in cryptocurrency, although I did read a couple of William O’Toole articles about it. When everyone’s doing it, it’s time to not – also from my grandpa. Good luck to all you cryptocurrency dealers!
Edward
Edward Thorpe recently posted…Summer Safety Tips for Seniors Looking to Stay Active and Social
lol your grandpa got a good foundation set up for you buddy.
That’s how things work. But when the crowd is going for something, get in early and be the pioneer 😉
What do you think?
Enstine Muki recently posted…BitConnect Lending ~ Step-by-step guide to earning 40% a month!
Thanks for sharing this informative post!i I’ll be keeping a tab on this for later reference.
Thanks Pat
Enstine Muki recently posted…BitConnect Lending ~ Step-by-step guide to earning 40% a month!
Hello,
Nice article about money investing in cryptocurrency. Thanks for publishing this with us. I will follow which you provide us. Great job.
Hi John,
Thanks for the comment and good luck to you buddy 😉
Enstine Muki recently posted…3 powerful reasons why BitConnect will be the next Bitcoin!
Thanks for the mention! Crypto currency has always been…lucrative for early adopters, Those that join from day 1 always have the ‘Fast mover advantage. I am in a few Bitcoin related programs.. This spreads risk. I recall when I joined TheBillionCoin project the coins were around $1. Today they are worth in excess of $150’000 each with the exchanger system ready for beta testing by Christmas it’s going to be very interesting this year.. To help others get some tbc free I use the Kringle cash platform to help other people including team members too.
I am writing a few articles for future submission discussing btc and related programs.
Great to hear from you.
William
Hey William,
Thanks for showing up man.
Yes I have read your articles on TBC. I have just 2 now 😉 but a few thousands with some altcoins.
Lending opportunities in cryptocurrency are also good. Are you doing any?
Enstine Muki recently posted…3 powerful reasons why BitConnect will be the next Bitcoin!
Amazing post. Thanks for sharing.
Hey Reji,
Thanks for the comment buddy.
I really recommend paying attention to the new industry. It’s actually getting into all aspects of life 😉
Hope you are having a wonderful week
Enstine Muki recently posted…3 powerful reasons why BitConnect will be the next Bitcoin!
This cryptocurrency phenomenon is something else. Everywhere i turn, it’s all about cryptocurency. Thanks for enlightening me about the ICO. I have heard it being talked about a couple of times.
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Hey Steve,
You should get in before it goes ahead of you lo
Cashless is the new style 😉
Enstine Muki recently posted…3 powerful reasons why BitConnect will be the next Bitcoin!
Hi Enstine,
Nice to see your post here regarding Bitcoins. The concept of cryptocurrency is totally new to me as I never took interest in doing a research on the subject. But, thanks for Einstine for sharing such an informative post on the subject. Looking forward to read more posts from you soon.
Cheers
Reji Stephenson
Reji Stephenson
Reji Stephenson recently posted…Top 30 ways to make money online
Hey Reji,
Thanks for the comment buddy.
I really recommend paying attention to the new industry. It’s actually getting into all aspects of life
Hope you are having a wonderful week
Enstine Muki recently posted…$4,040 Profit in 30 days from Initial Coin Offerings (ICO)