This website actually gets lots of hits from bemused digital investors seeking advice. Much of it stems from a single post I made a few weeks ago relating to Bitcoin – well here it is. Not exactly useful, or indeed incisive, but Google and other search engines have sent thousands of bewildered investors to my post.
Well firstly I should apologize because that post had very little useful information about Bitcoin simply because I know little about it. However I could actually class myself as a successful investor but more by luck than design. Here’s a little rundown of my experience which might perhaps help some people.
I’ve looked at Bitcoin for years without doing much about it (unfortunately) – but I have stumbled into digital currency. About a year ago I was paid for services rendered (oooh err) in a single bitcoin. It was actually for promoting a residential VPN service so only slightly shady.
I moaned and complained at the time, and wanted the $500 in cash but didn’t get anywhere. About a year later, I looked at my neglected bitcoin payment and realised it was now worth close to $12000 so preceded to turn it into real money. Imagine picking a share or investment that turned 500 bucks into 12000 in a year with little effort and you can begin to understand the excitement of Bitcoin.
Well firstly I figured out how to cash out, it wasn’t hard. I had my Bitcoin Core wallet – which was free and I installed to accept my payment in the first place. Next step was to find someone who would cash out my coins for me, again I was directed to a company. Their name was Kraken and although they have frequent server problems simply because they appear to be overloaded – it’s a bitcoin exchange and you can find it here https://www.kraken.com/. They seem honest, professional and don’t charge extortionate fees so are worth checking out. Well they worked for me and that’s all I can say.
So I transferred my coin, went through the security checks which took a couple of days and I was ready to go. I placed some sell orders selecting the best price option (the default one) and cashed out my Bitcoin at a huge profit. Then I initiated a balance transfer to my bank account, which I worried about a lot but that actually was fine. It took about 48 hours at which point the money appeared in my bank account – that’s me a digital currency trader and a successful one too!
I should also add, although I wanted my Bitcoin cash in my bank account I was a bit worried about missing out on the potential cash fest so made another move. With no research I checked out the next rival to Bitcoin which turned out to be Ethereum available at a much more reasonable $400 so I bought one – just to stay in the game.
Just checked and that one coin is now worth nearly $1200 a month later, I can’t imagine how much money the big players are making !!! Mind you will probably all turn into Tulip dust any day soon at least that’s what I’m told. Yet I have started watching the news, reading crap digital currency sites and wasting my money on expat TV for news on how the markets going.