Which is why I’m creating this massive guide to show you, step by step, how investing in bitcoin actually works.Īnd at the end of the article, I’ll share my personal opinions on bitcoin, along with my exact bitcoin investing strategy. That said, I definitely learned a ton about the technology. (I’m also not a professional, so you should always take my investment advice with a grain of salt anyway.) Opened a cryptocurrency exchange account and made my first bitcoin investment, to the tune of a couple thousand bucks.Īfter all that? I’m still not sure whether Bitcoin is a good investment.Read every major article about cryptocurrencies on the front page of google.Read not only the entire Bitcoin Wikipedia page, but the entire History of Bitcoin and Cryptocurrency wikifor good measure.Got my hands on Satoshi Nakamoto’s original 9 page white paper that introduced his technology to the world.Watched Netflix’s “Banking on Bitcoin” documentary.Why do I think it might be worth investing in bitcoin?.My personal bitcoin investment strategy.(FAQ) Is there a minimum bitcoin investment?.How to Invest in Bitcoin (The Best Way, in 5 Easy Steps).The 4 Most Common Ways to Buy Bitcoin (Pros & Cons).Decentralization from government shenanigans In other words, had I pulled the trigger, my sleepy Friday night $5,000 investment would have been worth $1,000,000. Except this time, those headlines weren’t impressed with a $100 bitcoin. “It can’t last.” …Fast forward four years.īy 2017, bitcoin was no longer some unknown discovery buried in the Wikipedia rabbit hole.Įveryone from the Starbucks barista to my own grandmother seemed to have an opinion on it.Īnd the headlines were again talking about a crazy prince increase. “Nah, this bitcoin thing has to be a total bubble,” I decided. (23-year-old, Friday-night-loner Money Wizard didn’t have many people to talk to, apparently.) Maybe I should throw that into this wild new technology?” I asked myself. “Say, I’ve got an extra five thousand bucks. “Some people must have made some serious returns on an investment that grew from $2 to $100 in less than a year!” It was now over $100, for the first time ever. I didn’t quite understand how that was possible, but I did understand the headline I was reading.īitcoin had just skyrocketed in price. It was a wild new type of money that somehow existed entirely within computers. I was reading about people investing in something called Bitcoin. But there is one detail I’ll never forget… Or maybe I was reading an online message board. But mentally, I was in an all-too familiar place – deep down the rabbit hole of random Wikipedia articles. Physically, I was in a dark room, and my face was illuminated by the blue hue of my computer screen. ![]() (I know, sweet social life, 23-year-old Money Wiz…) On a late Friday night sometime around 2013, I found myself alone in a dark room trying to figure out how to invest in bitcoin.
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