Profiting From Bitcoin

Let’s just get right down to it. You want to make money from Bitcoins, right? That’s why you bought this report.

Well, let me tell you straight up that trying to deal in Bitcoins directly is going to be hard. And expensive.

About a year ago one Bitcoin was worth about $21. Today (as of the time I’m writing this) one is worth $814. And as recently as November 2013, you could have bought Bitcoins at the low, low price of about $200 each. So 10 weeks later you just made 400% on your investment. Can you see why they have become so popular?

In addition to Bitcoins, there are dozens of other cryptocurrencies on the market. Bitcoin is the first and most popular, but the other most popular ones (in order of market capitalization) are Ripple, Litecoin, Peercoin, DogeCoin, Nxt, MasterCoin, Namecoin, Quark, and ProtoShares. And that just rounds out the top 10.

Go to coinmarketcap.com and you can see the full list of 86 that they have information for. The total market cap for all of these cryptocurrencies combined is a whopping $13,182,548,476. Yeah, over $13 billion.

So how do you make money with cryptocoins? In general, there are two basic ways to make money. You can mine them or you can invest/speculate. There are other ways to earn as well, which is what I’m doing and how you can get in the game. But first I’ll go over the basics of mining and investing.