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How to Invest in Bitcoin and Ethereum and be Financially Set for Life

In my last post, I explained to my readers why Investing in Bitcoin and Ethereum will make them stinking rich in few years. I then promised to explain to my readers in my next post how to invest in these two crypto-currencies for those who do not know how to do it. If you missed my last post, I suggest you follow me right now so you can be able to access the 3 solid reasons I gave why Bitcoin and Ethereum will make you so rich in the future. In this post, I will enlighten my readers on how to invest in Bitcoin and Ethereum. But before that let me clear the air on a particular misconception.

Many of you like get-rich-quick schemes. Many of you want to be rich in the twinkling of an eye. If you are part of those ones who want that, I suggest you skip this post and stop reading because Bitcoin and Ethereum are not get-rich-quick schemes. It will take some time before you become rich but I promise you that the money that will come from that patience will be so worth it. Let me give an example.

The Whinklevoss twins have an estimated $150million dollar net-worth. They invested in Bitcoin some years with just $11million dollars. Let me make it a little easier to understand. If you invested 11 million naira in Bitcoin when they invested you would have 150 million naira right now. But if you had even invested in Bitcoin let's say by 2010 with just $100 which is about 40000 naira right now , you would have made almost $200million in 2017 when bitcoin was so high. You would be richer than all the Nigerian musicians combined and even be richer than Neymar.

So now patience is the key. In my last post, I explained why soon the whole world, even rural areas will be forced to use digital currencies and then those who invested in it will benefit. Mind you, there are two ways to deal in crypto-currencies. You can either invest in it or trade with it. Trading is a different game because you look to get money in the short-run or in the mean-time but investment could take years but the reward is just the best. Now let's get to how to invest in crypto-currencies.

1. Make your research

Only a fool jumps into every word and venture he hears without first confirming if it's true or not. What I have explained regarding Bitcoin and Ethereum has been explanatory but more research on your part is needed. There are other crypto-currencies you could research about and I will talk about one in later posts. The name of that one is ripple XRP and it might be the best crypto to invest in and I will tell you the reasons why in that post. Now after you would have made your research, it is time to get to the main stuff.

2. Finding and Creating a Digital Wallet

If you want to save physical money, where do you do it? A bank of course, except you're so paranoid and dig a deep hole in your compound to bury it. Well its you and rabbits that will have matters to settle when your money serves as delicious food. Just trying to be hilarious but on a serious note, you put money in a bank. So it makes sense to assume that digital currencies like Bitcoin, Ethereum and the rest have their digital banks. Those digital banks are called wallets.

So how can you create a digital wallet? Just like you have Zenith bank, First bank, UBA and the rest, you have different sites and organizations in which you can create your wallet. The best of those which I recommend for Nigerians is Binance and Luno. There are so many others which many people use but to me these two are the best and I do not have any particular reason. If you make research like I told you to in the first point, you will get to know other stores in which you can create a digital wallet. So you need to download the both apps or just one on your phone, Luno and Binance. I'd go further to say just stick with Binance because it has some advantages over Luno but for a beginner, Luno is easier to understand. Whichever one you choose, just register on their platforms. It's easy to register as all you need is your email address . But in order to transact bigger sums, a form of legal identification is needed such as National I.D card, BVN and others. But you do not really need that as all what you will be doing is investing. As you scroll through the apps, you will understand how to use them better. But be careful to download the authentic apps as so many malicious ones are out there looking to scam unsuspecting people. So it's so easy.

3. Buy your Bitcoins, Ethers or whatever crypto you want

Now it is time to buy your cryptos. After registering, you will see some icons and links telling you to fund your account. Your money will be converted to Bitcoins or whatever. But don't be in a haste. You just don't put money into your wallet like that. You have to watch the market cause the price falls up and down. But it is easier for investors than traders. Let me tell you why. Traders seek to buy when the price of cryptos is lower and when it rises, they sell so they can make profit. Traders make profit in the short-run but some also lose. But as an investor, your chances of losing is so slim because you are not doing it for the short term. I only recommend you invest in either Bitcoin, Ethereum and Ripple XRP especially Ripple XRP cause i'm 99% sure they will make you rich in years to come. So as an investor, you do not invest all your money at once. There are strategies of investment. Many investors choose to invest weekly. For example, if you want to invest 100,000 naira, it is better you invest 10,000 naira in 10 weeks than invest 100,000 naira once. This will cancel out any flunctuations in the price of the cryptos so that you won't be affected so much incase of unexpected highs or lows. You might not understand this now but after sometime when you are used to crypto-currency and if you make research you will understand what i am saying. If you need more information, feel free to comment on the comment section and I will personally provide you my contact so I can put you through.

So there you have it, this is all you need to know about crypto-currency investment. Make more research so you can stay informed and smile in few years time. I will talk about Ripple XRP and why i think it is the best in future posts so do not forget to follow me.