How To Buy Cryptocurrency

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How To Buy Cryptocurrency

We are just at the beginning of the new revolution in blockchain-related technologies and in terms of the development of this industry. Cryptocurrencies are a small part of that emerging industry. This new blockchain technology is going to be a game changer and could be the most important new development since the invention of the internet.

While most people are still struggling to get their heads around blockchain technology and are figuring out how to buy cryptocurrency. Cryptocurrency’s like Bitcoin have exploded in price and attracted world-wide attention.

BITCOIN

How To Buy Cryptocurrency

[Bitcoin’s Price Performance Jan 2017 – Jan 2018]

High Risk

How To Buy CryptocurrencyWith the price of Bitcoin, rising from around $1,000 to nearly $20,000 in 2017, many people became very rich in a very short period of time.

However some speculated that the run-up in the Bitcoin price, particularly during December 2017 (from $8,000 to nearly $20,000) meant that Bitcoin is in a bubble that could burst at any moment.

“Investing in this cryptocurrency market is risky. Yet the price of Bitcoin could still climb to $50,000 just as easily as it could collapse to $500″.

Not the First Time

But if that happen’s it’s not the first time Bitcoin has risen rapidly and then quickly declined.

The first time was in 2011-12, when Bitcoin soared from $1 to nearly $32 within two months, plummeting 92% over the next six months, falling all the way back down to $2.

The second time Bitcoin soared was in 2013-14, soaring to just over $1,000 before declining 83% and remained at around $300 until late 2016, before beginning its ascent.

A Little History

There has been a number of pullbacks in the price of Bitcoin during its nine year history, but looking back they all appear to have been episodes of consolidation rather than actual crashes and while these pullbacks were often quite steep, and apart from long period during 2015, they were relatively short-lived. 

In each case, the value of Bitcoin has continued to rise over time, as we can see in the graph below – overall its risen a staggering 75 million percent since its inception.

How To Buy Cryptocurrency

So, if Bitcoin does go into a decline, (if history is anything to go by) it may just be another period of consolidation, and probably within three to six months, Bitcoin may revisit its all-time high and go even higher.

“However as with any ‘investment‘ you should never risk what you can’t afford to lose”.

While we will continue to see high volatility in prices, the long-term direction however is upward and I’ll discuss the reasons why I believe that soon. In the meantime, I want to discuss something very important with you if you are wanting to learn how to invest in cryptocurrency profitably. 

It’s Not Just About Bitcoin.

It’s not all about Bitcoin. Sure, Bitcoin is the poster child for the cryptocurrency market and gets the most attention and a lot of people have made a lot of money from Bitcoin, but I want to show you where the real money is made. 

Just compare the annual returns of these three cryptocurrencies:

Cryptocurrency Price Jan. 1, 2017 Price Jan. 1, 2018 Profit / Return
1 X Bitcoin $963.66 $14,112.20 1,364.43%
1 X Litecoin $7.98 $231.67 2,803.13%
1 X Ethereum $4.33 $755.76 17,354.04%

In other words, just by investing $1,000 on January, 1st, 2017, till January, 1st, 2018. You could have seen these results;

  • In Bitcoin would have netted you – $13,644.30. 
  • In Litecoin would have netted you – $28,031.30 
  • In Etherum would have netted you – $173,540.40 

Bitcoin Gets The Attention

So, while Bitcoin gets all the attention some other cryptocurrencies are getting all the money. And that’s just the start of how profitable some of these other cryptocurrencies can be.

It may be hard to believe that the price of cryptocurrencies are climbing that fast and some are even doubling almost daily and many increasing by more than 300% in less than twenty-four hours.

But you might be surprised to learn that many of these cryptocurrencies are trading at just a tiny fraction of the price of the well known coins like Bitcoin.

See the list (below) of TEN Cryptocurrencies that have increased by more than 200% in less than 24 hours. And there are dozens of them. Some rise and fall hourly and others make significant weekly gains. 

How To Buy Cryptocurrency

Other Cryptocurrencies

As of this writing, there are 1,384+ cryptocurrencies listed on CoinMarketCap.com, but not all of them are worth buying. But the number of cryptocurrencies and investment dollars going into them is not surprising, considering the absolute staggering gains some cryptocurrencies can bring.

Let me give you some examples of some of the more well known cryptocurrencies.

LITECOIN

Since February 2015, Litecoin has skyrocketed an exceptional 18,820%

How to Buy CryptocurrencyThat’s enough to turn every $1,000 invested into $188,200!

VERGE

Then there is a cryptocurrency called Verge, which saw a 3,782% in less than three months.

How To Buy Cryptocurrency

Some may not have heard of Verge, but it’s also a decentralized currency, intended to enhance privacy when buying goods and services. Essentially, what they’ve done is taken the original Bitcoin blockchain and improved upon it.

That 3,782% gain over three months is enough to turn every $500 invested into $18,910, or every $5,000, into $189,100, in a just a matter of weeks.

NEO

But, that’s nothing compared to another cryptocurrency called NEO.

How To Buy Cryptocurrency

A small $100 investment in this, would have landed you a tidy $15,678 profit. And if you’d been bold enough to invest $5,000. You would have made $788,900.

Not Pie In The Sky

But, this is not all just historical references of what could have been achieved. There are many, many other examples.

“I personally started with just US$500 and invested in some cryptocurrencies and in less than two months have seen unbelievable results”.

You can imagine, I was very pleased with myself when my initial $500 balance grew to $1,562.12.

  • I got pretty excited when it moved up to $3,462.76How To Buy Cryptocurrency
  • A few weeks later it hit $6,484.27 (late November early December, 2017)

Wow! I was thrilled with that.

Then in January 2018 it had grown again! Take a look at the screen shots below taken just days apart on January, 3rd, 4th and 5th.

 

Yes, that is, eighteen thousand one hundred and fifty dollars, ($18,150.16) all from an initial $500 investment. This is a real life example of the absolute staggering gains cryptocurrencies can bring.

How Did That Happen?

Now, notice that the Crypto balances (the number of coins) haven’t changed I have not ‘traded’ these currencies and Bitcoin plays only a minor role in this portfolio. 

It’s because of price moves like the ones below, such as my investment of 1,000 coins in Nexus, (which I had bought at about 0.27 cents) and it increased significantly a few times and then recently moved from below $3.00 to $10.00 (further tripling of value) over the course of a few days.

NEXUS

How To Buy Cryptocurrency

And a futher increase in value of Ethereum from around $400 to more than $1,000 in just a few weeks.

ETHEREUMHow To Buy Cryptocurrency

RIPPLE

And Ripple has done well too, moving from less than $0.25 to more than $3.00 A 12 fold increase within a few weeks.

How To Buy Cryptocurrency

And my speculative investment of 5,000 coins in PotCoin, which I bought for less than .06 cents (back in November) is now trading at around 36 cents, or six times the initial buy price.

POTCOINHow To Buy Cryptocurrency

Now, all of these have surpassed Bitcoins rises and collectively, made me more money than if I was just invested in just Bitcoin itself. And they cost less and moved faster.

That’s not to say that Bitcoin is not a valuable coin to have, because it most definitely is. Bitcoin is what you need to buy and trade other cryptocurrencies. So it’s an important lubricant in the cryptocurrency trading market place and therefore will always be a ‘sort-after‘ currency that has utility value.

Why Bitcoin Will Still Be A Great Investment

Bitcoin has proven that the utility of the blockchain protocols makes the transfer of assets faster, cheaper, and entirely secure, all at a fraction of the cost to the way things currently work.

And now that Cryptocurrencies, are attracting world-wide attention, with massive price movements and staggering profits being made. Big financial institutions are scrambling to get into this exploding crypto-industry.

The Big Money Is ComingHow To Buy Cryptocurrency

There is still a major part of the financial industry, that hasn’t entered the market yet. I’m talking about the institutional investors like hedge funds, big money managers who manage trillions of dollars, sovereign wealth funds with billions of dollars to invest.

It is only recently that the Commodity Futures Trading Commission (CFTC) has  given the go-ahead for the two big Chicago-based derivatives exchanges to launch Bitcoin futures tradingOpening the door for institutional investors to invest potentially billions of dollars into the cryptocurrency market and when they do prices, will rise in response.

A Growing Market

It may be hard for some to believe when they already see the price of cryptocurrencies climbing almost daily. It might seem like this is already a huge market. But you might be surprised to learn that the cryptocurrency market is still just a small fraction of other financial market assets compared to the $76 Trillion global stock market capitalisation, for example.

Currently, all the cryptocurrencies have a market cap of around $750 billion and may soon reach a Trillion Dollars. But that market cap is made up of more than just  Bitcoin and the others that I have mentioned.

A Changing Market

How To Buy Cryptocurrency

Bitcoin is actually losing dominance in the cryptocurrency market percentage wise. Not too long ago it was responsible for more than 50% of that market, now its around 30% with the balance going to the many other and growing number of alternative crypto-coins. 

Now that more investors are coming into the market they are looking for less expensive cryptocurrencies than the ones mentioned above and with expectations of finding the ‘next rapidly rising Bitcoin‘.

While 2017, may have produced a number of cryptocurrency millionaires. Specifically, 2,905 people who are now worth over $1 million, 419 people of whom are worth more than $10 million and 80 that are worth, over $50 million.

There is still something important you should know…

Be Very Careful…

I want you to beware of the hazards involved with buying cryptocurrencies because like all new industries there are going to be more losers than winners.

There are going to be scammers and ripoff artists and coins and tokens created just to cash in on the rising popularity of the cryptocurrency market. So, you need to be careful with your choices and selections and thorough in your research and due diligence. So, I have some tips for you.

How to Buy Cryptocurrency

To limit your risk, you need to perform your due diligence before making a decision on whether to buy a crypto coin. 

Unfortunately, the amount of information to review can be overwhelming, and a lot of people don’t even know where to start looking before making a decision. Often leaving them making a hasty decision because they don’t want to miss out.

They either end up regretting the decision, or some don’t make any decisions and sit on the sidelines watching other people get rich.

What I look For

What is vital for any cryptocurrency to succeed long term, and what I look for whenever I evaluate a potential investment, in this burgeoning digital currency market. Is to find out whether it has a legitimate “use”.

In other words, the first thing I need to know if it actually solves a problem, provides a solution or moves the crypto technology forward in some way. This to me is a big factor in determining its long-term success, because I want to know that once it catches on, investors will stick with it past initial price spikes.How To Buy Cryptocurrency

The second thing I look into is the background of the creators of the currency. If I can confirm that the team behind the crypto has a solid track record, I know that they aren’t a bunch of scam artists looking to make a quick buck. Evaluating the leadership behind a coin, will help you avoid scams.

But, just having a well-qualified leadership team isn’t enough to make a price surge on its own. 

Aside from strong leadership, a crypto company also needs to have realistic goals and expectations of what it can accomplish.

The Third thing I take a look at the underlying blockchain technology, is it based on a pre-established successful network and protocols like Bitcoin or Ethereum. Or are they’re trying to create their own from scratch and if they are, what is their points of difference and how is going to be better?

The Fourth step is to see if it has a supply cap. Because the problem with traditional currency is that it can be and is always being inflated and that decreases its long term value. So if the supply is limited and the demand is strong then the value must increase as a result.

Know The Team Before Investing

Back in November 2017, a new cryptocurrency startup called Confido, labeled itself as a “smart contract” raised $375,000 virtually overnight, through an ICO. On Confido’s website, CEO Joost van Doorn was listed as having a Master’s Degree in International Business with previous work experience at eBay Inc. and PepsiCo Inc. 

But, on Nov. 22, 2017 the company’s website, Twitter account, and Facebook page were erased and the CEO and the $375,000 had vanished. 

By taking all of the funds and not having a working project, the Confido coin was now worthless. But, fortunately, on Dec. 23, 2017, according to a press release from Jonkers & Van Gemert Advocaten, a law firm representing Confido, they bought back all the tokens for a nominal fee.  

The Lesson

The lesson here is even if Doorn did work at those companies, he never specified a position he held there, he could have just been an intern or worked at those companies for less than a year. And this could have been millions and not a few hundred thousand dollars that potentially got taken.

You should only invest in cryptocurrencies with strong team members that have track records of success in previous roles and positions that can be verified. 

For example; Litecoin, creator Charlie Lee, was a former engineer at Alphabet Inc. (Nasdaq: GOOGL), as well as the former director of engineering at the cryptocurrency exchange Coinbase. Lee not only has high-level technological experience, but also direct experience in the crypto world, so potential investors would know he’s at least has credibility in the Crypto space. It seems to have worked.

LITECOINHow To Buy Cryptocurrency

In Summary

Having a well-qualified leadership team isn’t enough, they also need to have realistic goals and expectations of what it can accomplish so avoid impossible promises and avoid companies promoting a new coin with what sounds too-good-to-be-true claims. 

It’s very unlikely, for instance, that a new cryptocurrency will suddenly become ‘bigger than Bitcoin‘. So you need to watch out for outsized claims of what the cryptocurrency will do, such as ‘totally change the way‘ some sector operates. They still need to solve real problems and not just be another ‘me too‘.

You Won’t Get Rich

And you won’t get rich by following my picks, because it’s about timing and I got in on some of these before they moved up. They could move up again soon or not at all. However, two of my picks are speculation plays (Potcoin and Ripple) as they don’t have a limited supply.  

However, as Google is a backer of Ripple and many US states are planning to legalize marijuana for recreational use, in the near future. (To date, 29 states have approved legalized medical marijuana.) I believed that others will want to buy those Cryptos, so I took a position in them because they were cheap. The others I have in my portfolio as longer term positions.

However, you will need to find your own speculation plays and your own long term investments that feel right for you. You need to dig in and do your own research and due diligence. I have given you what works for me.

The Botton Line

Peter V Crisp

Not all cryptocurrencies are worth investing in. The ones that have a strong leadership team and creators who don’t overpromise what their crypto’s can do, and can solve a real problem. Will probably have demand, and that will drive up its price. But don’t expect the prices to continue climbing like they have been. Expect downturns and even a few losses”.

Update

By the time I had finished writing this post, the value of my initial $500 portfolio had increased again. Take a look here:

How To Buy Cryptocurrency

That’s – Twenty Thousand Dollars ($20,325.35) 

NOTE: I am not showing you this to brag, but rather to show you, (that unlike a lot of supposed ‘crypto experts‘ who are blogging, out there) I am actually making money from my crypto investments.  But even if the price drops in half and then halves again I’m still way ahead. – To read and learn more from me, you can review the following;

Further Reading and Posts

To learn more about the many other types of Cryptocurrencies that are available and why they may be a good way to protect yourself from the wealth-destroying policies of governments and central bankers. Also with more than 1000+ different Cryptocurrencies now available, finding the ‘right‘ ones can be a daunting experience. You may like to visit my post  ‘What is a Cryptocurrency’

You can use this link here: ‘What is a Cryptocurrency’ 

How To Buy Cryptocurrency

To learn more how Bitcoin is used as digital money how the digital transactions take place and what is meant by a distributed ledger called a blockchain and what it is that make Bitcoin value; Visit my post What Is A Bitcoin?

You can use this link here What Is A Bitcoin

How To Buy Cryptocurrency

To learn more about how this blockchain technology may be the most important single development since the invention of the internet itself. How it’s going to be a game changer. You may like to visit my post  What is Bitcoin About?

You can use this link here: What Is Bitcoin About?

How To Buy Cryptocurrency

To learn more about how to buy Bitcoin with cash or, Credit Card, PayPal, Bank Transfer, or any other payment methodology and currency you desire (well almost). I step you through the process and show you how to open accounts and which ones to use that give you the most freedom and flexibility. Visit my post ‘How to Buy Bitcoin with Cash

You can use this link here: How to Buy Bitcoin with Cash

If you are interested in trading Cryptocurrencies then you may like to see this awesome software suite that brings all the tools you need int one easy to use system.

Get the inside information on newly minted crypto-coins that could potentially increase 10X to 100X and be able to invest in seconds and start profiting when they take off. Or use Arbitrage to buy bitcoin for X through exchange A, and sell it at a profit instantly at exchange B. Sound Interesting? Check it out here; https://onlineaffiliatewealth.com/cryptosuite 

A Software Suite to Trade Cryptocurrency like the Big Boys

Finally

How To Buy Cryptocurrency

Take a look around and review the other pages and posts while you are here and grab a copy of my eBook, Why Invest in Cryptocurrency? while you are on this page.

If you enjoyed this article “How To Buy Cryptocurrency” please feel free to socially share and leave a comment below.

Peter V Crisp

“And if you do, I will reward you with a free PDF copy of my book; How To Buy Cryptocurrency? And How to get StartedPacked with a lot of detail and information that will get you very excited about the future of cryptocurrencies and explains how you can get starting investing profitably.

So what are you waiting for?

Accept my bribe and socially share and leave a comment below and I will send you my latest book ‘How To Buy Cryptocurrency?Thanks!

You can buy the book via Amazon if you wish.

To bookmark this page for future reference you can do it now using(Ctrl+D)

 

About Peter

An International Speaker, Writer and Internet Marketer, living in Shanghai, China, teaching Business / English at a Chinese University and making a difference to the world. As well as bringing you great information and recommending awesome products that will make earning online while living internationally - a breeze. https://onlineaffiliatewealth.com/about-me

48 comments

  • Ilias

    I am not an expert on cryptocurrency but I want to learn more.

    The last weeks, I try to educate myself. However, the more I learn, the riskier they sound.

    In my opinion, most of them are in a bubble and many people will lose their money in the next months or years.

    Usually, when too many people get into a market, bad things happen. Anyway, I will not invest the next months but it’s interesting to see what is going to happen.

    • Peter

      Hello, Ilias. Thanks for your comments. I am sending you a copy of my book Why Invest in Cryptocurrency ? And how to get started. which I sure you will enjoy. Take a look when it comes as it will help you to decide where you want to invest in cryptocurrencies or not.  Enjoy. 🙂

  • sheikave

    Well, there is a chart I do remember that explain about early adopters, the one that adopters at the peak and the late adopters.

    Think of like the touchscreen revolution that Apple bought. Before every phone was with keys. But when android kicked in everyone became used to a touchscreen.

    A few percentage still used their old phone.
    The late adopter now will still struggle to use because it there was so much happening but they choose not to learn.

    The same with cryptocurrencies the few that invest in them heavily in them at an early stage were the most profitable investable they ever made. The late adopters still will have to struggle with understanding the technologies. Also, the price is high to invest.

    • Peter

      Hello, Sheikave Thanks for your comments and I agree there are those who get into things early and make a fortune and those who wait too long. You are right it will be interesting to see how cryptocurrencies play out. Enjoy the book that is coming your way for leaving a comment. Thank again 🙂 

  • Lyndsay

    This is a very interested and informative article. Very rarely do I read an article in its entirety but this one I did. You’ve provided a lot of valuable information that I will soak on. Appreciate the information. I will click on some of the links you provided but what I didn’t find is what platform you use to invest on or one you trust? Did I miss it somewhere in the article?

    • Peter

      Hello, Lindsay You will find the answer to your question either in the post  How To Buy Bitcoin or inside the book  Why Invest in Cryptocurrency? And how to get startedWhich is coming your way, for leaving a comment.So watch out for it in your inbox. Thank you for your comment. 🙂

  • David Chandler

    I was and still am kind of scared of bitcoin. More and more though I see people advocating for bitcoin. Major business executives and entrepreneurs are steady commenting on the future of bitcoin. Me being a investor, I was always on the fence about that particular market. I may take another look into it.

  • Sanjiv Karnick

    Hi Peter,
    Your article on how to buy cryptocurrency is splendid.
    It is an eye opener and throws light on the Idea of what the system is and how it works. By reading your article I get the exact idea about the whole concept you have a lot of great information on Bitcoin. Great Job!

  • Clay Westfall

    Hi Peter, I really had no idea what the big fuss was about cryptocurrency, but you have explained it quite well. I have always been a believer in being able to touch what I invest in, so I think I may need to pass on this one. Thank you so much for your comprehensive explanation… it really helps to know what I am doing.

    Clay

    • Peter

      Hello, Clay  Thanks for your comments, Check out the book that is coming your way, watch out for it in your inbox. Yes, I agree Cryptocurrencies are not everyones ‘cup of tea’ Thank you for your feed back 🙂

  • DorcasW

    peter; I am a bit startled at your disclosure on cryptocurrency. It is something that I am not really verse on, but reading your article helps me to understand that it is a currency that is poised more for the rich guys.

    The graphs you have shown explain it all so plain. My question for you is: would you say that Cryptocurrency is a type of Gambling?
    DorcasW

  • Chase

    I had no idea there were more cryptocurrencies than bitcoin & litecoin. It really is a huge market (at least bigger than I thought it was) – I always thought it was so fickle, but your research (and beautiful graphs) really drive the point home. Thank you so much for sharing! I’ve shared this article with my sister who has made a profit off bitcoin – excited for the E-book! Thank you so much for the “bribe” 😉

    • Peter

      Hello, Chase. The book is on its way to you so please watch your inbox for it to arrive. You will learn a lot more about Cryptocurrency from readiing it. Thank you for your comments and I appreciate your feedback 🙂

  • Wilson

    Hey Peter,
    This was a great article, man.
    You are quite the expert on crypto. I have a friend who is dealing with huge numbers when it comes to cryptocurrency at the moment, and I always felt like it was just too much information to handle when I ask him about it. Your article really peaked my interest in digging deep into research.
    I’m looking into Etherum right now just because of the speculation that the Canadian government might start using it to ensure more transparency in their network.
    Have you looked into that?
    I think I might hang out at your site for a bit. Good stuff, Peter.

    Wilson

    • Peter

      Hello, Wilson.  Thanks for your comments. Yes I have a few post about bitcoin so feel free to look around. Plus of course there is the book Why Invest in Cryptocurrency? that is coming your way for leaving a comment.  In which I talk about Etherum. Enjoy 🙂

  • Tyrel

    Wow, I think my mind just exploded, lol. I have heard from many people about their success in investing in Bitcoin and other cryptocurrencies, but I certainly had no idea that their were so many that grew so much faster than Bitcoin did. There is certainly a lot to learn about when it comes to investing in cryptocurrencies and this post certainly helped give me an idea of what to look out for and how to do it right. Thanks for this post, it really helped me understand cryptocurrencies better.

  • Ian

    I love this article!!
    I personally own bitcoin, along with XRP, Ethereum, Litecoin, and a few others. It’s great that you’re teaching people the basics of how to invest and learn.

    I saw that you invested in PotCoin, do you mind speaking a little more to that? I know almost nothing about it, and your returns have been fantastic. What is the deal with PotCoin?

    • Peter

      Hello, Ian Thanks for your comments and to answer yur question you will discover that I talk about that in the book Why Invest in Cryptocurrency? that is coming your way. So watch out for it in your inbox. Enjoy 🙂

  • Eddie

    Peter,

    I love your article on bitcoin. I watched closely in December as it rose to record highs and was wondering how it all worked. I think your post is very informative. Have you considered making a second part to it covering things like how to actually get into bitcoin more specifically and how to cash it out when you are ready. That was my biggest question in the December bullish rise.

  • Emelda

    Hi Peter
    Great article on how to buy cryptocurrency, to be honest, I am very confused about Bitcoin. Everyone I ask that question to there cannot give me a solid answer. By reading your article I get the idea how it works, you have a lot of great information on Bitcoin and how the system work. I also enjoy reading some of your other article that really interested me like How to Make Money from Amazon.

    • Peter

      Hello, Emelda. Thank you for your comments. For more on bitcoin and other cryptocurrencies you should take a look at the book that is coming your way Why Invest in Cryptocurrency? and how to get started. Watch out for it in your inbox. Enjoy 🙂

  • Margaret

    This is a great article and really helped me start to understand cryptocurrencies. As a fairly active investor I’ve been at a bit of a loss when it comes to this whole segment. Of course I’d seen the Bitcoin surge but still didn’t “get” what all the fuss was about – thinking that it was more a bubble than anything else. Your article has certainly given me food for thought – and its an investment vehicle that I’ll take a closer look at.
    Thanks
    Margaret

    • Peter

      Hello, Margaret. Thanks for your comments. You might like my post How To Buy Bitcoin and of curse my book  that I am sending your way. It should help you understand the investing side a little better.  Enjoy 🙂

  • justin

    Nice detailed article! I have heard of this stuff and i have been wanting to try it but i never know how much to invest to make a good profit or not. All of your information is detailed and i could learn a lot more about it all here. Im hoping to be able to invest into it soon! Keep up the good work!

  • David Hurley

    Hi Peter,

    Thank you for posting such an informative article on crypto-currencies. I totally agree that we should proceed with caution when thinking about buying cryptocurrency.

    I also believe there are going to be more losers than winners simply because many people get carried away and expose themselves to too much risk, typically just before a dip, and then panic-sell.

    I’m interested in accumulating Bitcoin and other cryptocurrencies through a faucet strategy. I searched your site for any mention of faucets but didn’t find anything. To my mind, faucets are attractive as they enable people to start accumulating cryptocurrency without any risk. Sure, the quantities you can claim at any time from a faucet are very small, but several faucets offer attractive affiliate commissions.

    If you have checked out faucets, I’d be interested to know what you think about them.

    All the best,

    David Hurley
    #InspiredFocus

    • Peter

      Hello, David Thanks for your comments. I haven’t researched that component to Bitcoin accumulation yet so I can’t comment. However I think its important to at least get a piece of the Bitcoin market even if it’s only a few hundred dollars worth. It is still early days and there is bound to be a lot more innovation to come yet. Enjoy the book that is coming your way. 🙂

  • Uros

    Hello,
    Nice article about crypto currencies. As far as I know bitcoin has some problems with how many transactions it can make and with high fee involved in transaction because bitcoin is well over $10k. and fee is 0.001. What do you think about proposed solution called Lightening Network ? I see it like solution to all problems after which price will skyrocket and noone wil ever question about fees. Do you share my optimism here ?

    • Peter

      Hello, Uros. I think it is early days for the crypto markets and we will see many new innovations to Bitcoin and changes and improvements along the way.  Bitcoin has been the lead technology and the ground breaker but it may become the Motorola Brick phone losing to Apples iPhone (so to speak) as technology move forward but until then it is still the number one. Thanks for your comments, hope you enjoy the ebook that is coming your way. 🙂

  • Khalid Elezabi

    This is by far the best article I have read about cryptocurrencies. I have been struggling to find a comprehensive article to learn about it. However, do you really think this bubble will burst at some point? I understand that you pointed out what worked for you, but I need to ask you because you seem experienced in the field.

    • Peter

      Hello, Khalid, Yes there is lots of volatility in this market place because it is such new technology which is why you should only put a little money in it and ‘play’.  As you have read I started with $500 and turned that into $20K.  But even if that drops 50% to $10K I am still up and I suspect that. the long term trend will be upwards. Check out the book I am sending your way for more back ground. Thanks for your comments. 🙂

  • Wayne

    Real good information Peter! This is something I would be doing it I were younger. My ole heart can’t take all the excitement of investing in all these new opportunities. You are right on though, there will be big money made in Cryptocurrencies, Artificial Intelligence, and Medical Marijuana in the not to distance future. I encourage all young people to get in on these now. If a person would have invested in Apple years ago, where would he be now? Best to You Wayne

    • Peter

      Hello, Wayne. Yes, you are right the Crypto market will be wild with lots of volatility and which is why you would only put a little money in it and ‘play’.  As you have read I started with $500 and turned that into $20,000.  Even if it crashes and I get back to $1000 I doubled my money and it totally goes to zero then it was still a great experience. Just like a vacation right?

      Hope you enjoy the Book I am sending your way. Thanks for your comments. 🙂

  • Art

    Awesome page! Really detailed explanation as a review should always be! Cryptocurrency is definitely on a rapid rise and its always good to have great insight from trustworthy sites as our internet world is a major component of our education. Definitely leaving your page with more knowledge. Keep up the good job on the site!

    • Peter

      Hello, Art. Don’t forget to check out my other posts. Thanks for your comments and I trust you will also enjoy my book that I am sending your way. 🙂

  • Bobbi

    Thank you Peter for an informative article on Bitcoin and the rise and falls of this cryptocurrency. I am a little fearful of investing a lot of money into Bitcoin at this time, but then I think what if I miss out on the big climb.
    Maybe I should do a little more investigating in to other cryptocurrencies. I love all the information you have here and I am seriously about to take the leap. Just one question for you Peter as you are the specialist in cryptocurrencie. If you were a newbie such as I am with this, what cryptocurrencie would you choose to invest in?

    • Peter

      Hello, Bobbi. First things first and that is to take a look at my post How To Buy Bitcoin and set up your accounts to buy and sell Cryptocurrencies. Once you have got an account and a Bitcoin wallet then you are ready to buy some cryptocurrencies. What you buy depends upon what it is you like. There are many options and you can research them as I explain in my book that I am sending your way so take some time to read that and then you should be all set to get started. Thanks for your comments. 🙂

  • Steph

    Wow! You really know your stuff. Either that or you did a ton of awesome research for this.

    Anyway, I enjoyed reading through this. Bitcoin has ALWAYS confused me a little bit lol, and even though I’ll probably never be an expert, you’ve helped me understand a little more about it.

    It is becoming bigger though so I suspect I’ll be learning even more in the future!

  • AlecMoore

    Very great article, where can you go to see all the Cryptocurrency? Where do you go to buy Cryptocurrency?

    This is definitely something I want to look into and learn about. It sounds pretty interesting. Honestly the only one I really hear about is the bitcoin.

    Thanks a lot for this article

  • Niels

    Hi Peter.

    I enjoyed reading your post very much. We all hear the stories of people getting rich from investing in crypto’s – and a lot of us get tempted to get in on the game.

    I guess I’m like most people – I don’t know what the heck it’s all about – and I certainly don’t know what crypto c. in reality is.

    Well- you left me a bit wiser. I know now that I’ll probably never quite understand how this works – meaning – I think I should invest in something else.

    You are welcome to tell me if this is not a wise decision 😉

    Thanks, Niels

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