In my previous post I looked at some of the best online payment processing services for Internet marketers. It is no surprise that Bitcoin stands out on that list because it is a currency in itself. In this post I will offer some quick and easy Bitcoin trading tips for Internet marketers.
Bitcoin has brought with it massive changes in the way internet marketers can send and receive payments online. In the Bitcoin trading tips that follow, I will focus on how Internet marketers can use Bitcoin trading to their advantage.
Bitcoin Has Broken Traditional Boundaries
Perhaps the biggest contribution which bitcoin made to the online payment industry is the removal of geo-political boundaries and controls.
Internet marketers from certain countries previously had to live with limited access to payment processors. PayPal for example, offers limited access to certain countries whose governments are under sanctions. Some payment processors only serve certain niches existing within specific geographical zones.
You’ll also note that other payment processor wallets require verification and identification of users, otherwise service is withheld. But with a bitcoin wallet, internet marketers enjoy total privacy of their financial dealings.
Given these major changes in the way online payments are processed, bitcoin has become increasingly popular. Coupled with the rise in the value of bitcoins in relation to ordinary currencies, trading in bitcoins has changed the face of the payments industry, especially as far as it affects internet marketers.
No longer will internet marketers be barred from certain programs because they cannot access the available payment methods. With just an internet connection and a valid email address, anyone can now receive and make payments in Bitcoin. And they can do it unhindered from anywhere on the face of the earth.
But is it enough for a marketer to simply have a bitcoin wallet?
4 Key Bitcoin Trading Tips For Internet Marketers
1. Use A Secure Bitcoin Wallet
Because all you need to make and receive bitcoins is a bitcoin address, you have more reasons to stick with a bitcoin wallet provider whose security is unquestionable. Any hint of vulnerability of a Bitcoin platform should be enough to cause you to move your coins to a safer haven.
Bitcoins are worth a lot of everyday money, any security risk is too much risk already. Make sure your wallet is well secured with passcodes and 2-Factor Authentication protocols.
2. Bitcoin Is An Investment
Did you know that a single bitcoin is currently worth around US$1,500? A year ago it was worth around half that amount. And still, the value of bitcoin continues to grow in spite of attempts by some government to downplay its significance in the payments industry.
So what does that mean?
Simply, bitcoin is much more than a currency. Just as you can earn interest by keeping money in a savings account, a simple bitcoin wallet offers a similar investment opportunity. Only, bitcoin earns you more value as your local currency declines in value.
Just consider a guy who kept one bitcoin from last year… that single coin’s value climbed from around $500 to over $1,000 today. A whopping 100% growth in 12 short months! Of course, Bitcoin can also decline in value, but the long term trend is much more likely to be upward. For a start, there is a limited number of Bitcoin, whereas governments are often tempted to print more fiat currency.
So, your bitcoin wallet is a potential investment. If you treat it as such, it will reward you handsomely. Clearly, you will not find any other payment processor e-wallet offering such a feature.
3. Trade Your Bitcoins At The Best Rates
When you trade in bitcoins, it is essential that you are always aware of the actual value you are giving away or receiving. You already have a bitcoin exchange rate readily available to give you this indication, make good use of it.
I note that most people carelessly receive and spend bitcoins without paying attention to the current rate. As a result, they suffer hidden losses. You’ll be interested to know that bitcoin is now tradable in financial markets, just like shares, forex and other CFDs.
This leads me to the fourth and most interesting bitcoin tip in this post…
4. How To Earn More Bitcoins
Bitcoin faucets such as BonusBitcoin.co are sites where you can surf ads, play games and perform other tasks to earn Bitcoin satoshi. Satoshi are a denomination of bitcoin. One satoshi is one hundred millionth of a Bitcoin.
BonusBitcoin.co pay you 50 satoshi every 15 minutes. All you have to do is log in and claim your satoshi!
You can also try your luck at winning satoshi with their dice game. The game is fun, but you can easily lose more than you win!
BonusBitcoin.co pay 50% commissions on purchases made by your referrals.
You can also earn money with bitcoin by trading bitcoin for fiat currencies, and vice-versa. Sites such as LocalBitcoins.com allow you to trade bitcoin in this way.
Today, more and more affiliate programs are accepting and paying out in Bitcoin. My top bitcoin trading tip is to work with an affiliate program that offers bitcoin payments – such as SFI – and start referring people to earn bitcoin commissions. Then simply set your account payment so that you receive your commission in bitcoin. 🙂
David Hurley
Top5Programs.com
#InspiredFocus
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