[Sticky] 10 Ways To Make Money From Cryptocurreny Legitimately For Newbies and Pros!
After so many questions from Foskaay forum readers and whatsapp contacts on how does cryptocurrency really work? and how to earn from it? We finally came with this guide to answer your mind bothering questions to know if cryptos could be your next choice of investments or not. Though, time might come that you may have no choice than to use cryptocurrency like Bitcoin as means of payment even if you don't invest in it as business.
This guide will be as brief as possible yet as detailed not to get you bored especially for newbies into cryptos world.
What Is Cryptocurrency?
Cryptocurrency is basically a broad name for all decentralized digital currencies built on any blockchain technology using cryptography to verify and also make it secured and transparent. It means, the transactions are publicly available for anyone to verify and can not easily be tampered with like centralized platforms like Paypal and so on.
What Are The Examples Of Cryptocurrency?
Presently there are over 1,500 cryptocurrency (more adding up daily) which can also be referred to as coin. The first and leading coin is Bitcoin (BTC, Created in 2008) and then followed by Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Dash (Dash), Litecoin (LTC), IOTA (MIOTA), Monero (XMR) and lot others.
How Do I Use Cryptocurrency Like Bitcoin?
Considering the fact that we can not cover all coins as you grow in cryptos world, you do your our research as at when due. We will guide you through how to get your first coin, Bitcoin (BTC) and from there you can checkout on other coins.
How To Buy Bitcoin With Credit Card?
Since this article is focused on our worldwide readers, we can't cover all methods and platforms to purchase BTC because its differs from country to country, but will use Nigeria as example and you can join this forum free, click reply below this article and ask question to get specific guide for your country. Though, there are platforms like Coinbase, Luno, LocalBitcoin etc that covers most countries of the world, you can check them out.
Step 1: Lets focus on buying your first $100BTC, go to InstantGold (click here), and register an account (others are Truexgold but mandate your account is verify before purchase but Instantgold gives you privileged to purchase upto $500BTC daily with unverified account and then verify if you want limit lifted)
Step 2: Got to Blockchain.info and register a Bitcoin wallet (though it now also support Ethereum but our target here is BTC)
Step 3: Click on REQUEST, it will show up a long id like this 1Hwa3GbAh5maTsasj6rscEWHRgW9Zj5erN which you need to add up to your e-account under bitcoin on Instantgold to receive bitcoin into your wallet and pay with your credit card or use bank transfer to their account as specified on the purchase page. It serves same purpose like your bank account, when others send money through it, you get credited in your bank account same here you see it in your wallet balance and could also send it out using the SEND option.
Step 4: Check your bitcoin wallet within 30minutes to 2hours, it should have reflected. CONGRATULATIONS! You successfully purchased your first cryptocurrency, Bitcoin.
Now, you know what cryptocurrency is about and how to get into it has newbies (join the forum, ask question as comment to get help and share this article with others) .
Our next major focus is how can you now earn from Bitcoin and other cryptocurrency, click next to continue.