investing

Investing

See Trading Cryptocurrency

Another way to make money in cryptocurrency is to invest in it. Namely, you buy Bitcoin, Ethereum, or any of the other altcoins and hold them for the long term.

I believe everyone should own some Bitcoin. You do not have to buy a whole Bitcoin. Purchase a fraction of a Bitcoin, say, $500 or $1000 worth and just sit on it for the long-term.

Sitting on it means just keeping it in a Bitcoin wallet and do nothing with it. If the price of Bitcoin goes up, you will see the increase reflected in any Bitcoin wallet that you have your Bitcoin in.

Coinbase allows you to automatically purchase Bitcoin using your linked debit, credit card, or bank account. For example, you can have $10, $20, $25, $50, $100 or whatever amount you like automatically deducted each month from you linked accounts on Coinbase. It is a set-and-forget and in time, your Bitcoin portfolio increases.

Let’s say you set it up where Coinbase automatically deducts $50 each month to build up your Bitcoin. After one year, you will have $600 worth of Bitcoin in your wallet. And, if the price of Bitcoin goes up at anytime, your portfolio will reflect more than $600.

The same holds true for the other cryptocurrencies supported on Coinbase.

RJ

A retired Information Technology Specialist and Foreign Service Officer with a large U.S. Government Federal Agency, Technical Instructor, Blogger, WordPress Instructor, Web Designer, Internet Marketer, and Cryptocurrency Investor and Mentor.

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