If you’ve been following the suggestions I made in previous articles, you should have a pretty good understanding on how to use, accrue, and invest in Bitcoin. The dollar cost averaging strategy laid out in my Bitcoin Buying and Selling Guide may have served you well as the price range of Bitcoin has been between $350 and $600 in just a few short months. Update (02/26/2017) As of this update, the price of Bitcoin is $1,175.
However, dollar cost averaging isn’t the only way to make money in Bitcoin. While it might be more appealing in the short-term if the price fluctuates, there is a far better way to build a fortune over time that is much easier to do with a little discipline.
The chart to left (click to enlarge) is a good example of the misconceptions most people have about NOW versus LATER when it comes to money or in our case Bitcoin. When people were asked, “what would be better, $1 million dollars now or $0.01 a day doubled over 30 days?” Most people obviously wanted the $1 million dollars NOW. As you can see from the chart, 1 penny a day doubled over 30 days would be over $5 million dollars LATER!
My point in sharing this is to illustrate the true value of joining and promoting some Faucets and sites that pay Bitcoin to views ads.
Bitcoin is new cryptocurrency and a new technology that could change they way we conduct transactions in the future. Think about the possibilities of that for a second and what a relatively small fraction of Bitcoin could be worth if that happens? In comparison, it could be argued that Microsoft changed the way our lives operate today. Could you imagine what life would be like without a computer or other digital devices we use today?
If you bought into the concept of computers back then and owned just 1 share of Microsoft back when it first when public, that 1 share would be worth about $11,496 at today’s price. Granted, that includes stock splits that have happened over the years that might not be applicable to Bitcoin, but do we really know what’s going to be applicable or not in the future with Bitcoin?
My point is this, any amount of Bitcoin you can accrue, even fractions, could be worth be worth a lot more money in the future as was the case with Microsoft above. Will that happen with Bitcoin? I have no earthly idea but if it does I want to own some of it even if it is just a small amount and you should too.
Recommended Bitcoin Accrual Strategy
My strategy is very simple but does require some discipline on your part. I schedule about 15 minutes a day clicking through my 5 favorite sites that pay Bitcoin and another 5 minutes promoting them. You see, most of these sites reward you a portion of what your downline earns as well so over time you can “build yourself” out of doing all the work if you recruit others. The chart below is an example of what I earn from my downline at Coinad.
As you can see (click to enlarge), my downline at Coinad (no longer an active account) has clicked through 7580 ads and earned me 3.519933 mBTC. While that might seem like a small amount of Bitcoin, which it is, I didn’t have to do any work to gain it.
You are probably thinking what most would be at this point which is, “Wouldn’t it be better to be in 40 of these versus 5?”
For me, the answer is no for the following reasons. My long-term strategy only works if I continue to work it over time. This strategy only requires 20 minutes out of my day so I can focus the rest of my day on the NOW activity. Spending hours at a time clicking through ads that reward small amounts of Bitcoin now for the possibility of a future payoff is gambling your NOW for the future which isn’t smart.
The key here is to sustain my strategy over a long period of time. Steady and small activities such as this is far better than blitzing for several days and burning myself out in the process. Sustainability can only be accomplished from that which is NOT painful. Tony Robbins taught me that years ago in his Personal Power series. Behavior is driven by our need to avoid pain and gain pleasure. Don’t make this a painful process and you’ll find it will become a habit after just a few weeks that could sustain for years.
I have no idea if the sites I’m in now will even be around after a few years or even months. However, my strategy is timeless because whether I’m in these sites or others in the future, I will still be accruing and holding Bitcoin which has less to do with the actual sites and more to do with accomplishing a long-term strategy.
Follow These Steps if You Haven’t Already:
Step 1: Set up your Bitcoin wallet at Coinbase
Step 2: Join these 3 websites to accrue Bitcoin.
Step 3: Begin your daily ritual of clicking through ads and also promoting your affiliate links so your downlines help you gain Bitcoin.
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Disclaimer: The content provided on this website is solely for informational purposes and should not be interpreted as an offer to buy or sell. I am merely sharing strategies I have used in the past, that were not developed by me but taught by others, when it comes to investing. As with any investment, you should consult a licensed financial advisor prior to implementing any investment strategy. I am not a investment advisor, broker, or dealer and not liable for errors, omissions, or losses as a result of the use of this content.
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