How to buy Bitcoins

Hey guys Dave here, I know you guys have heard me talking alot about cryptocurrency and bitcoin lately. For new readers, I am an investor, I’m all about travel, making money espeically when its passive income. I own several rental properties that I have turned in to airbnb’s you can read about those here and here. But recently I have been doing some cool things with Bitcoins you can read about my bitcoin experiment here, or how I started making passive income with bitcoins here. Then it hit me, I should probably explain where to get bitcoins. So here is my tutorial to getting your hands on some of that sweet, sweet crypto.

There is no doubt that if you stumbled onto this page you have heard about bitcoin. That’s because you’re super tech-savvy and smart enough to do your research. Now you need to know how to buy bitcoins. I mean, where do you get Bitcoins anyway? Today I am going to show you what I wish I knew about how to purchase bitcoins. Welcome to the world of cryptocurrency.

 

Buying Bitcoins with Coinbase

This is my favorite way to buy bitcoins. Coinbase is a bitcoin exchange that is convenient and pretty self-explanatory. You can sign up for Coinbase here. You will have to verify your email.

how to buy bitcoins

Once your email is verified you will have to verify your phone number.

coinbase phone verificiation

I know that all these verifications can be annoying but they are in place to protect our money. The next step is to verify your payment source. There are two options you can use a card such as debit or credit, or bank account.

 

How to buy Bitcoins with a credit card

If you want to buy bitcoins with credit card, Coinbase is by far the best option. To buy bitcoins with a credit card you will first have to verify your card on Coinbase. This is a simple process but you will need access to your online banking. Before you can get your debit or credit card registered, Coinbase sends out 2 or 3 pending charges that are all $1 and some change. When Coinbase does this, they will prompt you to enter the amount of change like in the picture below.

how to buy bitcoins with credit card

To verify you just have to enter the change. If you get a charge that is $1 even DO NOT USE THAT ONE, only the charges with change after it. Don’t worry these charges fall off once you verify your card. With credit cards there is a 2.5% charge which is not bad in the world of Bitcoin. The bonus to using your credit or debit card is this is the best way to buy bitcoins instantly. There is no wait time for your bitcoin to arrive which is good because bitcoin price fluctuates. I did notice that my weekly buying limit was lower than the limit given with the bank account.

Pros of buying bitcoins with credit card

  • Instant transaction, bitcoin is in your account right away
  • Low Fees
  • Good for short term trading

Cons of buying bitcoin with credit card

  • Lower buying limits with new accounts.

Buy Bitcoins with bank account

You can also buy bitcoins with your bank account. This way is good because there are no additional fees. Adding your bank account is simple as choosing bank account as your payment method and logging in via your bank online login info. The downside to buying bitcoins with your bank account is that there is a wait time. This wait time can be anywhere between 4-10 days. This is not ideal if you want to make sure that you are buying in at a specific price. Buying with bank accounts usually gets your a higher weekly buying limit.

Pros of buying bitcoins with your bank account on Coinbase

  • No Fees
  • Convenient
  • OK for long-term holding

Cons of buying bitcoins with your bank account on Coinbase

  • Slow transaction 4-10 days
  • Don’t know what price will be when you receive bitcoin
  • Bad for short term trades

Buying your Bitcoin

Once your payment method is set up you simply need to click bitcoin and click buy bitcoin

how to buy bitcoin

The final step is to enter the amount of bitcoin you wish to buy in USD and click buy bitcoin instantly. You will get to a confirm screen and then your bitcoin should appear in your account. You are now a proud bitcoin owner.

 

If you want to sign up for Coinbase to buy some bitcoins you will get an additional $10 in bitcoin when you spend $100 with this Coinbase promo. 

 

BitCoin ATM

Bitcoin ATM’s are my least favorite way to buy bitcoin. If you are in a hurry and you don’t have a bank account you can buy bitcoin from one of these specialized ATMs. I used a bitcoin atm a few times when I was trying to get bitcoin for the BitConnect experiment. A few things I learned from the experience is that you can find your local Bitcoin ATM using CoinRadar.com I was able to locate a few of these ATM’s within reasonable driving distance to my home. The process was straight forward. It had a touch screen interface that was small but easy to use. After beginning the process, I was required to register with my phone number, for which I was sent a text with a code that I had to verify, and then I had to scan my ID. Once my ID was scanned I was that the machine had a 15% fee meaning for every $100 I needed to add an extra $15 in fees. This was quite expensive and I would later find out that this pricing is average and some ATM’s were even charging 20%. Next I was asked to scan the barcode to my destination address. Now it was time to add the money, it was cash only and no way to use credit or debit. I deposited my money and watched the fragments of bitcoin add up on the screen. Once I was done I was given a reciept and within moments the transaction showed up as pending on my wallet.

The Pros of Using Bitcoin ATM

  • Good for quick bitcoin transactions
  • Buy Bitcoin INSTANTLY!
  • Great way to get bitcoin if you don’t have a bank account

The Cons of using a Bitcoin ATM

  • Requires you to have a bitcoin wallet already
  • EXPENSIVE FEES 15%-20% is common
  • ATMs were mostly located in shady areas of town in my area
  • Have to travel with cash on you
  • Bitcoin ATMS are CASH ONLY!

How To Make Money With Bitcoins

the bitcoin experiment

Hey guys Dave here…I know, I know its been forever since my last post but what can I say life is BUSYYYYYYY! For those of you that are new, I am all about passive income. Aside from being a great idea, passive income has grown into hobby of mine. I mainly invest in rental properties, you can read about them here, here, and here, today, however, we are going to be discussing bitcoin.

What are Bitcoins?

Bitcoin is one of those things you wish you had a time machine to go back and invest from the bottom. Bitcoin is a new currency that was created in 2009 by a mysterious person under the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name.

How the heck do you make money with Bitcoins?

Buy and sell them like a stock trader!

Well think of bitcoins like a stock on the NASDAQ, the price vs the USD is ever changing. Meaning you can potentially make money by buying low and selling high. The best thing about bitcoins is that lately,they have skyrocketed in value. When first introduced in 2013 bitcoins maintained a value of around $20 each, as of today October 8, 2017 the bitcoin has a value of approximately $4600 dollars. Let’s think about that for a second. If someone would have purchased 100 bitcoins at $20 each they would have invested 20K which at todays value would now be worth $460K in just 3 years. But since hindsight is 20/20 and we don’t have access to time machines, we can only move forward. Check out the current price of Bitcoin for today here!

Make your own bitcoins.

how to make money with bitcoins

Yea you read that right you can make your own. I mentioned this a while back in my previous post on 25 side hustles you can start today. The processed is called mining. The mining process requires the use of specialized computers that solve complex equations on the bitcoin blockchain extremely fast. You are rewarded by this with fragments of bitcoin. This process can take a while and is power intensive meaning that one of the biggest expenses after purchasing this hardware is going to be electricity. Most people who invest in this hardware and electricity consumption are usually able to turn a decent profit by mining and then selling their bitcoins. I will go more in depth with this process in a later post as it can get complicated. Here is an example of a mining rig on the right! If you set up a few of these, it can be a nice source of passive income.

Buying Bitcoins

Where do you buy bitcoins? Well before you can buy bitcoins you need a program or app called a bitcoin wallet. A bitcoin wallet is how you save your bitcoins or other cryptocurrency. There are many out there but I use Coinbase. It was the highest rated app in the app store and works well on my phone. The cool thing about Coinbase is that you can also purchase bitcoins directly through the app at market price. I know what your thinking…But Dave, didnt you just say bitcoins cost about $4600? Well heres the beauty of bitcoin, you do not have to buy a full bitcoin. exchange any amount of dollars for its value in bitcoin.

Think of bitcoin like a large pizza, lets say you have $2300 you want to invest, you simply type in the dollar amount and then you are given the equivalent slice of the pie. In this example you would be getting half or 0.5 bitcoins.
If you sign up at Coinbase here you can get $10 worth of bitcoin FREE, and then they give me $10 for referring you so hook me up 🙂

The Bitcoin Experiment

the bitcoin experiment

I bought myself some bitcoin 🙂

I’m not gonna lie..I’ve known about bitcoins for quite some while but had never taken time to really understand it until recently. After much research, I believe that the bitcoin is going to continue to raise in value. Some analyst think that the price will reach a million dollars usd. While I’m not sure about that I definitely feel like its the wave of the future and as of the last few

While I’m not sure about that I definitely feel like its the wave of the future and as of the last few months the price has made some fantastic gains. That said, I’ve put my money where my mouth is and have invested a small $500 investment into bitcoin. I am going to let this sit for 365 days. At the time of writing this I am 1 day into this challenge because bitcoin prices are changing 24/7, even though i purchased these on a saturday the price has already increased $10 higher than my initial investment. I challenge you if you can afford it to also invest $500 into bitcoin. I suggest checking out price charts like this and buying when the price dips.

Final Thoughts

I personally feel super confidently about this investment and I don’t like to throw my money at investments with low probablity of success. That being said, this is an investment so its possible to lose money. Never invest more than you can afford to lose. Not only here this is just a good life principal when it comes to investing. I will keep you guys updated on my journey.

 

25 side hustles that make money

26 Side Hustles That Make Money

What’s a Side Hustle?A side hustle is something you do to earn money outside a traditional job.- Nick Loper





25 side hustlesIf you want to start building passive income the first the you’re going need is a regular income. 

I like to think of  myself as a self-sufficient hustler. Sometimes jobs are not a good fit for everyone.

Sometimes jobs don’t pay enough, and a second job would be too stressful, that’s where having a hustlers mentality comes in.

Having a side hustle is helpful to save up for larger investments that will generate passive income

Here are 25 ideas to help get some capital into your bank account.

 

 

  1. Resell discarded items – If you have a pickup truck, and you see an old sofa, or nice coffee table, out on the curb for the trash, take it. These items can be cleaned up and listed for sale on sites like craigslist or offerup, You can make money by steam cleaning old sofas, or polishing old wood dressers and selling them. A lot of times people throw stuff out thats in good condition just because they need the space. Avoid anything heavily stained and always clean these items thoroughly to restore them back to a decent condition.
  2.  Stalking Craigslist Free Section – This is one of those side hustle that is no secret to many looking to earn some money so you will need to be fast. People often list free items on Craigslist, many of which may have value, but the owner doesn’t want to go through the hassle of meeting potential buyers, or haggling so they give it away free. I’ve seen everything from furniture to vehicles in this section. The goal here is to snag items that can you can sell for profit. Because you don’t have to spend any money to get these items, everything you sell is 100% profit.
  3.  CashcrateCashcrate is a paid survey site online. Survey sites like Cashcrate generally offer 2 ways to get paid. Member sign up and can either complete surveys for designated dollar amounts, or refer others using their referral link. I signed up for cash crate a LONGGGGGG time ago. Like 2007ish, when I was trying to find out different ways to make money online. I started off doing the surveys, and I went through a phase where I was doing youtube videos and putting my referral link all over the place. I didn’t know much about internet marketing back then, but apparently, a few people are still watching my youtube videos because I have many active referrals. The good thing about cashcrate is that not only do you receive a percentage of your referrals earnings, but you also get a smaller percentage of your referrals, referrals. I consistently get checks from cashcrate to this day. It’s always a financial bonus to open the mailbox to a check from something you weren’t expecting. I would actually classify this is passive income because I literally had done nothing to maintain this for well over 8 years! If you want to sign up with cash crate click here
  4.  Bird dog houses – This is one of my favorites. Have you ever driven by a busy intersection and noticed a bandit sign with the words “We UGLY Buy Houses…”? Well, these people are probably  Bird dogging the act of finding real estate for a good price, placing it under contract, and then selling the contract for a profit. This is done by using an assignment contract. Using bandit signs is a great way to find people who want to sell their houses. The real profit to be made is when you come across homes that are in dire need of repairs, or updates because this will give you leverage to hassle. After negotiating a price you place the house under the assignment contract, this is an assignable contract to buy the house. This means two things, that you have an agreement to buy the home at a specific amount, and that you can sell this contract to someone else interested in buying that house, at the same price. This is why its important to make sure the price you negotiated will be attractive to investors after you’ve added your contract fee. In my area, I find bird doggers are usually earning around 3-5 thousand dollars per assignment.
  5.  Painting – If you’ve got attention to detail post an ad on craigslist, throw some special prices on it, buy some good quality brushes and go to work. I don’t recommend trying this if you are not particularly a neat person. Offer friends and relatives a free paint job, to  see if this is something you can do well. Always remember to tape off all trim, remove wall plates, and keep the floor covered with a good quality tarp.
  6.  Drive For Uber or UberEATS – Uber driving is a great way to make some extra money. Unless you’ve been living under a rock, you know uber is like a taxi but a heck of a lot more reliable and cheaper. I use uber all the time when I travel or go to the bar. There’s a certain freedom about not having to drive places that I love. If you have not taken a ride with uber please download it and use this promo code UBER4FreePromo, this will give you a free ride for up to $10.  Uber  an especially good way to make consistent extra money if you have an eco-friendly car. They pay drivers to download the uber partner app, and take calls from people who need rides. Its like that old arcade game Crazy Taxi but in real life.  People always ask me what its like driving for uber. It gave me a different look at my city, I got to meet a lot of really cool people, and explore areas of the city that I didn’t even know existed. Because of it, I’ve gotten paid to discover all new restaurants and other hidden gems in my city. For more info on Uber check out the uber experiment. An Expansion  of the Ubers company is UberEATS, you can also make money delivering food to customers of local restaurants. To learn more about UberEATS click here!   If you would like an Uber promo code for a free ride click here!
  7. Rent your house on AirbnbAirbnb is a website that allows you to either rent rooms in your home or your entire home to guest looking to travel in your area. This can be extremely profitable. When i first started my airbnb investment experience, I opened my rental properties to many guests in my area. This is an extremely lucrative way to make money. Click here to see how I made $11,604 in 5 months renting my house on Airbnb or  Click here to rent your home on airbnb.
  8.  Tutoring services – Do you have a talent, something that others might want to learn that you could teach, if so tutoring might be a viable source of income. Do research to see what others in your niche are charging and be competitive. Depending on what type of tutoring you’re doing. Try to go to places where people in need of your service would gather and post ads on the bulletin board. For example if your good at fitness. Advertise at local gyms. If you’re a trigonometry wiz, advertise on community college, and university bulletin boards.
  9. Start a cleaning service – If you are one of those people who finds it therapeutic to clean, start a cleaning service. Cleaning supplies are cheap, advertise on craigslist, as well as local bulletins in your community. Try to get cooperate contracts as they will make your business more valuable . Always clean very thoroughly you will be able to get more clientele through word of mouth as well if you are good at what you do.
  10.  Dog walker/pet sitter – Are you a pet lover? You can get paid as a pet sitter or dog walker. You should really love animals if you are considering working with them. You can get clientele by advertising in the online classifieds or sign up for services such as rover.com. Rover.com is a website that connects dog sitters and walkers, with people who need the services.
  11.  Mobile detailing – Because the supplies needed are very cheap, and you are mobile, you will have very low overhead with this side hustle. Advertise your services on local classifieds and bulletin boards at local businesses. Offer competitive on pricing and offer discounts for multiple vehicles. Pass out flyers in crowded parking lots at the mall. Mobile detailers generally charge $35 for a basic cleaning, and there is an upcharge for deeper cleanings.
  12.  Drop shipping – Drop shipping is when you sell/advertise  a product, and once you get a sale, you purchase that item from a 3rd party vendor and have it shipped directly to your customer. The benefit of drop shipping is there is usually little investment because you never have to purchase physical stock. In fact, the only thing you will need to make money is a website and a marketing plan. There are many companies that drop ship online, such as Doba. The best practice is to find a niche that is not over saturated. Saturated niches will be nearly impossible to get ranked for as, pioneers in that particular niche, will make it difficult for you to make any money.
  13.  Be somebody’s friend. That’s right you can literally get paid to be a friend. If your personable and you think you could lease out your services as a friend, try signing up at rentafriend.com. You can literally get paid to be a good friend.
  14.  Give advice – Do you know a lot about a lot of things? Become an “expert” on  Clarity.fm. With Clarity, you make money by giving advice to people with questions in your field of expertise. “Experts” generally make around $50 per question.
  15.  Blogging – I only recommend blogging if you love what you talk about, this is a long-term way to make money. As you build your audience, you can eventually begin to make money through a bunch of different avenues. If you use products that you truly believe in you can make money with Amazons Affiliate program. You can also make money with Google Adsense. Adsense pays you to place ads on your website or blog, and as they get impressions or clicks, Adsense registers this and issues you a payment. You can also sale ad space on your site directly. You set the price, and have more control over the details. Bloggers with large followings like Carol Tice, can earn upwards of $5000 a month from blogging. To learn how to start your own blog click here.
  16.  Collect scrap metal – If you have a pickup truck you can drive around and collect the scrap metal and scrap it. People are always listing free scraps for people to come get for free. Develop a name for yourself in the scrapping niche, you can build relationships with people that come across scrap metal frequently, like rehabbers and flippers.
  17.  Get a roommate! Ok, so disclaimer: This isn’t so much a way to make money, well I guess it could be considered depending on how you look at this. I have a friend named Amy that lives in New York, she’s financing a nice luxury apartment. Her monthly mortgage payment is $2300 and she has 4 bedrooms. She rents the 3 smaller but decent sized bedrooms out to her friends for $900 a month each. Amy grosses $2700 a month. Every month her complete mortgage payment is covered and she has $400 left over to pay bills. Of course having a room mate isn’t for everyone, but if you can bare it this is a good way to cancel out the largest part of your living expense while paying off your mortgage.
  18.  Craigslist labor section – Craigslist is a great place for find people in need of labor services. On craigslist in the section under gigs, you can find people looking for temporary help. If you are handy there will be a lot of options for you here. If you are not handy, there are also gigs where they may just need something simple, such as needing a lawn cut.
  19.  Junk removal – This is another thing that you will be able to find gigs on craigslist. Many house flippers, and , those who go through remodels, are left with literally tons of debris. If you have access to a pickup truck and preferably a trailer, you can get paid to haul this trash off to the city dump. Contact your local dump and find out what dumping fees are. Keep this number in mind when bidding jobs. always make sure that you charge enough to cover dumping fees, your gas mileage, and most importantly your time.
  20.  Bitcoin Mining – You know what bitcoin is right?…..kinda…..a teeny bit? Well, bitcoin is a cryptocurrency that has gained popularity recently and starting to be accepted as a form a currency at an increasing pace. At the time of this post 1 bitcoin is worth just a little over $500 USD. So how do you get bitcoins? Well, you can mine them  by becoming a node,  back in the day, you could mine bitcoins with nothing but your computer and an internet connection. As time progresses bitcoins become progressively harder to mine, eventually stand alone computer did not have enough processing powers to satisfy its increasing demands. The need for more power led to the birth of dedicated bitcoin miners. Bitcoin miners use ASIC technology to help  mine bitcoins, but use a lot of energy. Some investors build bitcoin mining farms, to generate large amounts of bitcoins every day. The major drawback to bitcoin mining is that it grows increasingly harder every year to generate bitcoins, so you will always need to continuously keep updating your mining equipment. In the early days of bitcoin mining, you only needed a desktop computer, and an internet connection to mine bitcoins, now dedicated equipment such as the Antminer s9 is required to keep up with the ever-evolving algorithms.
  21.  Cut grass – This is usually seasonal depending on where you live, but people will always need their grass cut. You can get a used lawn mower off craigslist for under $100 to start your business. Start off in your neighborhood, ask neighbors with noticeably long grass if they need cuts. Offer to schedule them once a month. Print flyers and pass them out to near by neighbors. Be professional and be on time, and you will make money.
  22.  Buy Return Merchandise Pallets – When companies like Walmart, Target, K-mart, and many other stores accept returns, many times the items have slight blemishes or warped packaging, these items can no longer be sold on the shelf. In turn, the big box store needs to liquidate these items to recoup as much loss as possible. These items are sold to liquidation companies in insane quantities. Companies  like Viatrading redistribute the store returns into large boxes on pallets and package for resell for one wholesale price. I used to buy these pallets when I lived in Nashville. They usually averaged $300 and came in a box that was almost as tall as me. The only thing about purchasing these returns, is the liquidation centers don’t allow you to see what’s inside the pallet, they don’t want buyers cherry picking pallets.  Once we purchased a pallet, we would empty the box, go through everything, and separate the items into price ranges. The electronics were sold on eBay, and craigslist. and the low priced items would be sold by having garage sales. We would at least double our investment on each pallet http://www.viatrading.com
  23. Storage Auction – When storage unit owners, stop paying, the storage companies need to get their space back. They do this by auctioning off the contents of the storage unit. I’ve been to a few of these and they are competitive. The key to making money here is being able to tell what things are worth really fast. Like the pallet returns, you are generally not allowed to look inside these units, you must make your decisions based on what you can see standing about 3 feet away. Sometimes you get lucky and find valuable items that were not visible. These items can be sold on craigslist, the best way to make money with this is by making sure you don’t overbid on lots.
  24. Become a virtual assistant – If you are good at administrative work, can type, and work well with spreadsheets you may want to consider freelancing as a virtual assistant. Virtual assistants perform clerical work for clients, mainly data entry related work. You can find clients by listing your services on websites like upwork.com
  25.  Amazon Flex – Ever wonder how amazon gets packages out with lightning speed? Amazon Flex workers are the backbone of this delivery system. You apply through the website, submit a background check, then once hired, you can login from your smart phone and start delivering products from the Amazon fulfillment center in your area to its customers. Flex workers average $18-$25 an hour and set their own schedule.
  26. Become a Pornstar from home – If you aren’t shy and would like to make some decent money from home. You can  make some dcent money performing as a single our duo pornstar on a cam modeling site. . While many may turn their nose up at this  unorthodox method, cam models can earn an extra $100 – $10K a month from home . These sites work off a token system, viewers come into your chat room and tip tokens, that can be later converted to cash.  Because these websites are so popular there is always a large flow of traffic and plenty of money to be made.. If you are worried about you identity you can always wear mask to cover up your face and lets your inner porno star fee. You can sign up to be a cam model as long as you are over the age of 18. To see what its like to be a porno star online you can sign up here.