I’m not going to waste your time. As of writing this, the price of Bitcoin and other crypto currencies is going up. I want you to become a part of this very powerful trend that is becoming more well known around the world.
If you don’t know what Bitcoin is, there are so many guides out there to give you the basics. This guide assumes you know Bitcoin’s basics and want to start investing right away.
The Dangerous Misconception
Before I do that, I need to communicate something to you. There’s a very dangerous mindset floating around, and it’s costing people potentially thousands of dollars/pounds. Because Bitcoin is counted in whole numbers, people can’t escape this false idea that you “must buy one whole Bitcoin.” Bitcoin is split up into 100,000,000 parts, which are known as Satoshi. It is very possible to own one hundred millionth of a Bitcoin.
So many dozens of people have told me, “It’s too late for me to invest. I can’t afford one Bitcoin.” When I tell them, “Buy a tenth, or a twentieth of a Bitcoin,” they respond, “Nope. That’s not worth it in my opinion. I’ll keep my $300.”
A few months later I show them the price of Bitcoin compared to where it was when we had the conversation. I say, “Your $300 could have become $475. Yet when you kept your money in the bank, it’s quite possible you lost money due to inflation.
Where to Begin
First, sign up for a CoinBase account. Start this process right away because it may take some time for your account to get approved.
Next, you’re going to want to sit down and figure out a number. I’m going to tell you how to find this number. Look at all of your monthly bills and expenses, and find a utility that you could afford paying double per month for. Let’s say is gas power for your home. Let’s say you pay $45 per month on gas. That’s your number.
Now, tell yourself, “The price of gas energy just doubled. I now owe $90 per month on gas.” Believe it. It’s a lie, but fully believe it.
Instead of paying the increased amount to the gas company, however, you’ll be paying it to CoinBase. They’ll handle passing on the money to the gas company. It just so happens that, behind the scenes, you’re somehow getting a digital currency in return.
You’ve effectively set up, what is called by some, Utility Doubling. Very smart Wall Street investors do this exact same technique.
But how do I pay CoinBase every month?
Fortunately, the answer is really short. You can repeat purchases every X days, weeks, or months. Set the interval to $X every month, and you can simply forget that it’s there. CoinBase supports these automated purchases by default, so you don’t have to do much to set it up.
Here’s What Will Happen
Sure, your $45 (or whatever you decide on) doesn’t seem to purchase much. It adds up over time. Trust me. After some time, you’ll see a larger and larger number. Eventually that number will be substantial. And, in the long run, your total return on investment may be 200%. The important thing to do is to “set it and forget it.” You don’t want to obsess over Bitcoin’s highs and lows and rely on emotional day trading. This method prevents you from attempting to predict the market. This method also benefits you by getting in the market before it explodes to even greater levels.
You’re effectively eliminating the false idea of, “But I have to buy one whole Bitcoin.” You’re saying, “No, I don’t need a whole one. My routine investments may become a whole Bitcoin some day, but I’m starting small, frequent, and consistent.”
Increasing Your Utility Doubling
Most investors who use this technique will become so motivated after seeing their small amount of Bitcoin increase that they double or triple how much they invest every month. Some will move from $45 every month to $25 every week. You can go about it in a number of ways.
The goal is to get in the game NOW, whether big or small.
Disclaimer: Don’t Be Stupid and HODL!
(HODL is a reference to a meme; it means to “Hold your Bitcoin and don’t sell no matter what.”)
As investors will tell you, “Don’t invest more than you’re willing to lose.” It sounds cliché you must be smart. If you go into this expecting Bitcoin to skyrocket and net you thousands in a short period of time, then you have the wrong mentality. Set your sights on the years, even decades, to come. Seriously. We’re still in the beginning. Bitcoin has a LONG road ahead, and the future is bright.
Sure, there’s a chance that some unforeseeable event may occur and Bitcoin crashes. It’s happened many times in the past, and as we see from price graphs over time, Bitcoin always recovers. Bitcoin WILL crash again in the future and it WILL recover.
By setting your sights on the future – hell, even retirement! – you’re removing the influence of emotion to get in the way and tell you to panic sell as soon as the price starts to dip. Because you have a CoinBase account set up by now, you might even go pro and “buy the dip.”
I want you to get started right now, right as soon as you close this guide. Get out there and start the sign-up process.
If you can’t get a CoinBase account set up, there are so many other ways. Google search “How to buy Bitcoin.” If you’re a dependent living with parents or a relative, ask them to consider Bitcoin. Ask their help making a first small purchase. Of course you’re going to have to educate them on how you see Bitcoin’s future. Convince them that you have a level head on your shoulders, and that you’re not deluded enough to think that you’ll get right quick. (It’s a possibility, but it’s more of a side-effect than the destination.)
Don’t take investing advice from people on the internet without doing your own research and critical thinking. Don’t even believe what you read in this guide without doing your own research 😉
“How to buy Bitcoin.” If you’re a dependent living with parents or a relative, ask them to consider Bitcoin. Ask their help making a first small purchase. Of course you’re going to have to educate them on how you see Bitcoin’s future. Convince them that you have a level head on your shoulders, and that you’re not deluded enough to think that you’ll get right quick. (It’s a possibility, but it’s more of a side-effect than the destination.)
Don’t take investing advice from people on the internet without doing your own research and critical thinking.
- Sign up with CoinBase here: https://sweatcoinguide.com/join-coinbase/
- Set an automated purchase every month or week for a small amount.
- Try to forget about it and go on with your life.
- After awhile, check back to see how much your Bitcoin grew.
Encourage your friends to do the same! (Hint: After you sign up for a CoinBase account, go to your referrals page to give them your link just as I gave you mine. It’ll earn both of you free Bitcoin!)