Creating Multiple Income Streams with Cryptocurrency
Diversification to the key to making money online. Do not place more than 20% into any individual program online! Online companies come and go, so be careful where you place your hard earned money. A business model I like to use and suggest to most people that can bear the risk is to open each lending program with at least $1000. This puts you into the tier where you see reinvests happening daily and keeps you involved in the programs.
Open an account on Coinbase, complete your profile, and deposit around $5000 to purchase cryptocurrency. You will receive $10 if you deposit $100 or more into a new account. You are going to splitting the $5000 worth of Bitcoin across many different lending programs. If you have a PayPal account you may now connect it to deposit your fiat money in the future. I recommend PayPal over your bank account at this time for depositing fiat money as many banks are still freezing and closing accounts randomly. Check with a manager at your bank to determine their cryptocurrency tolerance.
An optional part that I suggest to do now is to link your Coinbase account to GDAX. In the future you will be using GDAX to buy and sell your Altcoins and Bitcoin.
Create an account on Bitconnect. You will be purchasing Bitcoin and depositing into Bitconnect once you open this account. Once you have deposited your Bitcoin you will be exchanging it for BCC. After this you will be placing your initial loans as small as $100 and up to $10,010. To make sure you can see results every day and to gain the bonus %’s start with at least the $1010 lending level.
Create an account on Falcon Coin. You will be purchasing Bitcoin and lending it on Falcon Coin. Lending as low as $10 for your first loan! Falcon Coin is a new player to the industry and seems to be coming out swinging! They have similar investment plan but from what I am seeing they are producing better than Bitconnect at this time. This is one of the companies I am pushing to be in the 20% of initial investment zone.
Create a wallet to store your cryptocurrency. I suggest you start with Exodus to begin with. This will be your hot wallet. I have been using Exodus for a while now and really like how simple it is to use. This is a hot wallet, so PLEASE do not store large sums of crypto online. Set a comfortable amount to keep in you hot wallet and send the rest off line to your cold wallet. That is where paper wallets shine for security. I do like Trezer for off line cold storage as well.
Purchase a Trezer wallet to use as a cold storage. This is a hardware wallet that keeps your cryptocurrency offline. *optional but recommended!
Begin mining cryptocurrency! Now to make the introduction to mining cryptocurrency. Hashflare has some profitable options that you can get your feet wet with a very low entry fee. The upside o using them right now is the compounding effect that you get with daily reinvests and getting paid in the coin you are mining. Utilizing 20% of your investment or lending money in buying hashes is another way to diversify your portfolio. You can diversify even more py spiting your profile into each of the mining contracts they offer. As the profits start coming in you can then hedge your investment into the leading contracts that are paying the best.
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