Text

<p>Did you know you don’t need to buy a ‘whole’ Bitcoin-like one pictured above?</p><p><br></p><p>Note to our readers: as Star Wars fans and with the 9th installment of the franchise due to release as at the time of writing, we feel that it is obligatory to list them out in terms of Light vs Dark Side.</p><h2><strong>BECOMING A BITCOIN MILLIONAIRE –&nbsp;THE LIGHT SIDE</strong></h2><h3>№5 EARLY ADOPTERS</h3><p>We do not need to say much here. Early adopters are those who are fortunate or savvy enough to recognise Bitcoin’s potential in the very early days. There are a number of these people who are now bitcoin millionaires and even billionaires. An example is the Chinese Bitcoin tycoon and serial investor Li Xiaolai, who reportedly holds more than 100,000 Bitcoins to his name (as at the time of writing, the price of Bitcoin is USD$7,202 per coin). You do the maths.</p><h3>№4 STARTING A BITCOIN BUSINESS</h3><p>A number of entrepreneurs have made millions from Bitcoin-related businesses. These include Bitcoin exchanges, mining pools and payment processors.&nbsp;Some even run more interesting business models such as the sale of cryptocurrency pets/collectibles.</p><p>Going down this path requires a lot of determination, skill and a bit of luck. A lot of the markets are getting saturated with Bitcoin-related start-ups. The wannabe entrepreneur must ensure there is a genuine market for the product/service they are offering.</p><p>Notable Bitcoin businesses include Binance.com, which only started in 2017 and turned into the largest exchange by volume in a matter of months. The founder of Binance has been officially on the billionaire list since 2018.</p><p>The beauty of starting a Bitcoin business is it doesn’t need to be substantial in the beginning. In fact, the&nbsp;<a href="https://coinstash.com.au/" rel="noopener noreferrer" target="_blank">Coinstash</a>&nbsp;team only started as a hobby while one of the founders also worked full-time.&nbsp;It now has a full-blown trading platform and has plans to expand into&nbsp;<a href="https://www.austrade.gov.au/landingpads/locations/singapore/coinstash" rel="noopener noreferrer" target="_blank">Singapore</a>!</p><h3>№3 ARBITRAGE OPPORTUNITIES</h3><p>Unlike the stock market, because Bitcoin is still relatively new, the financial market around cryptocurrency is still in its adolescence. This presents arbitrage opportunities for resourceful traders. In 2017, many traders were able to use the significant price differences across exchanges and also across currencies to their advantage. Certain traders were able to make in the excess of $100,000 per day by employing this technique.</p><p>The limitations around arbitrage trading are that it is typically capital-intensive, and the person will need to be quite financially savvy. Mistakes can be very costly in this space.&nbsp;In fact, many traders were already millionaires but they just added the Bitcoin millionaire title to their trophy cabinet!</p><h3>№2 BECOMING A CRYPTO INFLUENCER</h3><p>It is often underrated how profitable a crypto influencer, media company or community manager can be. It is not unheard of that successful influencers charge four to five figures per hour for their time or endorsement. Given restrictions around cryptocurrency in terms of social media advertising, these channels to reach the target audience have become increasingly popular. Bitcoin businesses and other participants in the cryptocurrency ecosystem pay a lot of money to get their messages across.</p><h3>№1 INVESTING WITH DISCIPLINE</h3><p>Our top pick for the average person is simply investing. We believe that for the average person, nothing beats investing with discipline. If you have invested $50 per week religiously over the past 5 years, you should be sitting on a nice six-figure saving by now.&nbsp;This is by far the safest and most practical path to become a Bitcoin millionaire.</p><h2><br></h2><h2><strong>BECOMING A BITCOIN MILLIONAIRE –&nbsp;THE DARK SIDE</strong></h2><p>We need to preface this by saying that we are strongly against any of these methods of accumulating personal wealth. In fact, the reason for us listing them below is to warn the public of potentially falling into these traps.</p><h3>№5 BITCOIN TUMBLERS</h3><p>These are money launderers but for Bitcoin. They employ certain techniques to ‘mix’ the good coins with the coins obtained via illicit means, therefore hiding the origins of the illicit coins.</p><p>The irony is that some tumblers aren’t even real. We have heard stories where people have run away with other people’s dirty coins, instead of providing the service. A case of scammers getting scammed.</p><h3>№4 PYRAMID SCHEMES</h3><p>Do you ever get emails saying investing in Bitcoin and get 1,000% returns in a few months? There are a lot of pyramid schemes around cryptocurrency in general. They will try to attract new money to pay out returns for the perpetrators and previous investors, until the system cannot support it anymore.</p><p>One of the biggest schemes to date is Bitconnect, whose price plummeted to below $1 from a previous high of nearly $500. It took billions of dollars from investors.</p><h3>№3 HACKING OF EXCHANGES</h3><p>Bitcoin exchanges are easy targets for hackers and other bad actors. This is due to the relative anonymity around Bitcoin, the ease of transfer and the large balance of funds that exchanges typically keep on behalf of their customers.&nbsp;These factors make them easy targets.</p><p>Recently, an major exchange based in New Zealand went to liquidation due to losses associated with hacking.</p><h3>№2 MARKET MANIPULATION</h3><p>This problem is very prevalent in cryptocurrency markets and it does not get the attention it deserves. The typical ‘pump and dump’ schemes have been outlawed in the traditional financial markets for decades, but similar techniques somehow appear to be under-prosecuted in the cryptocurrency space.</p><p>An example is someone who can spread false news about the prospect of a particular coin, with the aim to ‘pump’ up the price. When others trade based on the false news, they then ‘dump’ their holdings, thereby generating a profit based on the increased price.</p><h3>№1 EXAGGERATED OR NON-EXISTENT PROJECTS</h3><p>Ever wondered why Initial Coin Offerings and cloud mining projects carry such a bad name? It is because there are too many bad actors who promise the world, only to deploy the investors’ money to their own benefit. In the case of cloud mining, the so-called ‘mining site’ may not even exist. This is an under-regulated space and the stakeholders spread over multiple jurisdictions.&nbsp;The outcome? Unsuspecting investors have very little prospect of getting their money back.</p><h2><strong>WANT TO BECOME A BITCOIN MILLIONAIRE AND WONDERING WHERE TO BEGIN?</strong></h2><p>It really depends on where you are located. However, we list a few below:</p><p>Binance.com is the largest cryptocurrency exchange by trading volume.</p><p>Kraken.com is known for their powerful trading engine and customer-friendly interface.</p><p>Liquid.com is suited for advanced traders, given the breadth of functionalities, it has, including margin trading and lending abilities.</p><p>Coinstash is the newest platform in Australia to buy and sell Bitcoin, Ethereum and Ripple.&nbsp;It is more suited to new traders due to simplicity and its&nbsp;<a href="https://au.trustpilot.com/review/www.coinstash.com.au" rel="noopener noreferrer" target="_blank">amazing customer support</a>!</p><h2>ABOUT COINSTASH</h2><p><a href="https://coinstash.com.au/" rel="noopener noreferrer" target="_blank">Coinstash</a>&nbsp;is a registered digital currency exchange based in Australia. Our customers praise Coinstash as one of the most user-friendly, educational and supportive platforms. Through its live support 7 days a week, Coinstash has accumulated numerous&nbsp;<a href="https://au.trustpilot.com/review/www.coinstash.com.au" rel="noopener noreferrer" target="_blank">positive reviews</a>&nbsp;from its customers. Coinstash is also one of the only digital currency trading platforms that has participated in Australian government Austrade’s&nbsp;<a href="https://www.austrade.gov.au/landingpads/locations/singapore/coinstash" rel="noopener noreferrer" target="_blank">landing pad program</a>.</p><p>Note nothing in this article should constitute general or specific financial advice. Coinstash does not take into account your circumstances when publishing articles. Any content on Coinstash.com.au or related domains are informational only.</p>

10 Ways to become a Bitcoin millionaire

<p>When Bitcoin launched, the price of a single Bitcoin was less than a dollar. By late 2017, the Bitcoin price AUD reached a staggering A$28,000! Since then, the price has continued to fluctuate, making it an exciting investment opportunity for experienced investors and novices alike. As of today (November 2020), 1 Bitcoin is worth more than&nbsp;<a href="https://www.tradingview.com/symbols/BTCAUD/" rel="noopener noreferrer" target="_blank">A$22,000</a>.</p><p>In this post, we’re going to explore the factors that determine Bitcoin price in AUD. This way, you can make informed decisions when you invest! New readers should also check out our previous post&nbsp;<a href="https://test.coinstash.com.au/blog/what-to-invest-in-bitcoin/" rel="noopener noreferrer" target="_blank">what is Bitcoin</a>&nbsp;to learn the basics.</p><h2>SUPPLY AND DEMAND</h2><p>The Australian Dollar derives its value from being the legal tender issued by the Australian government. People pay taxes with the Australian dollar and businesses cannot legally refuse payments in AUD. Bitcoin, being the ‘people’s currency’, is very different. Its value is predominantly driven by what the supply and demand between buyers and sellers.&nbsp;</p><p>This concept of supply and demand is the most powerful factor affecting the Bitcoin price AUD. The creators of Bitcoin limited its supply to 21 million coins, so there is a cap on how many Bitcoins can enter circulation. This has the effect of making Bitcoin a scarce commodity, like gold and silver. If demand increases over time, the price will rise with it. If that demand shrinks, so will the Bitcoin price.</p><p>Utility is another key driver for the demand for Bitcoin. In other words, its usefulness to those holding it and to society as a whole is important.&nbsp;With each&nbsp;new use case, the utility of Bitcoin grows, making it more desirable and therefore increasing its value. For example, once Bitcoin or another cryptocurrency becomes a main method of payment, we expect to see a significant spike in demand as the pool of potential buyers becomes much larger.&nbsp;&nbsp;</p><h2>POLITICAL AND ECONOMIC EVENTS</h2><p>Just like traditional currencies, political upheaval, or uncertainty can cause the value of Bitcoin to change. The fact that many investors use Bitcoin to hedge against price movements in a particular currency compounds this effect.</p><p>For example, leading up to the Brexit referendum, where the United Kingdom would decide if it was to leave the European Union, the price of Bitcoin increased and the British Pound declined in value. Similar events happened in Greece, where Bitcoin buying increased as local people sought to protect their wealth from the fallout of the economic crisis in 2015.</p><p>Most of the time, currency fluctuations caused by political or economic events will even out in a few months. However,&nbsp;events with a global impact,&nbsp;such as the COVID-19 Outbreak, could have consequences that last for several years. As an investor, you need to factor both short term and long term disturbances into your strategy.&nbsp;</p><h2>MEDIA AND CULTURE</h2><p>The perception of Bitcoin in popular culture is another key consideration for investors.</p><p>Analysis of Bitcoin pricing shows that&nbsp;<a href="https://www.washingtonpost.com/news/the-switch/wp/2014/02/03/these-four-charts-suggest-that-bitcoin-will-stabilize-in-the-future/?utm_term=.ac6b57c91269" rel="noopener noreferrer" target="_blank">positive media coverage</a>&nbsp;is a major stimulus for investment. People like to read good news and positive coverage over a period of time builds confidence. Of course, the opposite is also true—sustained negative coverage will reduce value.</p><p>You can see these trends playing out when you look at Bitcoin’s pricing over time. When the mainstream media started to report on cryptocurrencies, Bitcoin experienced a number of price increases and collapses.</p><p>In part, this is why it has a reputation for being so volatile today. The media created cycles of hype and then quickly followed up with stories that made investors wary. It’s hard to mitigate the effects of the media, but keeping track of mainstream opinion will help you to make wise choices as an investor.</p><p>One of the reasons many people choose to invest in the first place is that the volatility is exciting to manage. Spikes and increases create huge opportunities for profit if you play your cards right, all you need to do is your homework!</p><h2>REGULATORY BODIES</h2><p>In the early days, Bitcoin posed a problem for regulators. As a decentralised currency, it became difficult to determine how the states should intervene.</p><p>For the past few years, regulators have been playing catch-up. Each country needs to agree on a national approach to cryptocurrency and it could have huge implications for the Bitcoin price AUD and around the world.</p><p>It’s unlikely that regulators will adopt an unified approach and as such we can expect further volatility in the Bitcoin market. For example, China has already decided to shut down Bitcoin exchanges and only allow peer-to-peer trading, which resulted in a short-term decline in Bitcoin value. On the flip side, Japan&nbsp;confirmed Bitcoin as a legal payment method, which contributed to a&nbsp;<a href="https://www.businessinsider.com/bitcoin-price-spikes-as-japan-recognizes-it-as-a-legal-payment-method-2017-4" rel="noopener noreferrer" target="_blank">19% spike</a>&nbsp;in Bitcoin’s value the year the decision was made.&nbsp;&nbsp;</p><h2>THE BITCOIN COMMUNITY</h2><p>The software that makes and manages Bitcoin transactions was created by developers and is run by ‘miners.’ Collectively, they make up the global community responsible for verifying Bitcoin transactions.</p><p>Although Bitcoin (BTC) is decentralized, this community needs to make decisions about how to transact, exchange, and adopt the currency over time. These decisions also have an impact on price.</p><p>At present, the community uses a majority votes system to decide on any changes. To make adjustments to the software used to mine and authenticate transactions developers need to get more than 50% of the total mining network to agree with the proposed change. When they reach a majority, they can create what’s known as a ‘fork’ and get to work on the new action.</p><h2>THE BITCOIN PRICE AUD WILL FLUCTUATE. BUT YOU CAN HANDLE IT.</h2><p>A number of factors determine the Bitcoin price AUD. External factors such as political uncertainty, global regulation, and public opinion on cryptocurrencies. Internal factors, such as strategic decisions from Bitcoin miners will also play a role. This is because participants in the Bitcoin ecosystem will ultimately determine which direction the currency is headed.&nbsp;&nbsp;</p><p>Mixed together, these factors mean the Bitcoin Price AUD is more volatile than traditional currencies. At Coinstash, we think that makes investing more exciting, more profitable, and dare we say enjoyable! Check out&nbsp;<a href="https://coinstash.com.au/blog" rel="noopener noreferrer" target="_blank">our blog</a>&nbsp;for more on bitcoin prices in AUD.&nbsp;&nbsp;</p><h2>ABOUT COINSTASH</h2><p><a href="https://coinstash.com.au/" rel="noopener noreferrer" target="_blank">Coinstash</a>&nbsp;is a registered digital currency exchange based in Australia. Our customers praise Coinstash as one of the most user-friendly, educational, and supportive platforms. Through its live support 7 days a week, Coinstash has accumulated numerous&nbsp;<a href="https://au.trustpilot.com/review/www.coinstash.com.au" rel="noopener noreferrer" target="_blank">positive reviews</a>&nbsp;from its customers. Coinstash is also one of the only digital currency trading platforms that have participated in the Australian government Austrade’s&nbsp;<a href="https://www.austrade.gov.au/landingpads/locations/singapore/coinstash" rel="noopener noreferrer" target="_blank">landing pad program</a>. Find more about BTC Price AUD (Australia) by visiting our BTC trading platform.</p><p>Note: nothing in this article should constitute general or specific financial advice. Coinstash does not take into account your circumstances when publishing articles. Any content on Coinstash.com.au or related domains are informational only.</p>

What determines the Bitcoin price AUD? A Complete guide

<h2><strong>WHAT IS RIPPLE?</strong></h2><p>Want to buy Ripple Australia? You probably want to know more about it first.</p><p>Ripple (XRP) is both a platform and also a cryptocurrency, XRP, developed by&nbsp;<a href="https://ripple.com/" rel="noopener noreferrer" target="_blank">Ripple Labs</a>. XRP is a token which facilitates the transfer of value across the Ripple Network. As of 2020, XRP Ripple is the fourth most valuable cryptocurrency. Although consumers can buy XRP, Ripple Labs created XRP for financial institutions to facilitate fast and frictionless cross-border transfers.&nbsp;</p><p>Ripple is secured by a network of servers with a ledger that guarantees transactions based on consensus. Ripple Labs pre-mined some XRP and it controls the release of new coins. They release more as needed to control the money supply. The current XRP Ripple price in AUD is $0.323 but this fluctuates daily.</p><h2><strong>WHAT IS RIPPLENET?&nbsp;</strong></h2><p>RippleNet is a platform that facilitates cross-border transactions for a network of institutional payment-providers like banks and money services businesses. The system looks for the shortest and cheapest combination to make transfers happen. It uses its own patented technology, the Ripple Protocol Consensus Algorithm (RPCA), to verify transactions. If every party is in agreement with the rest, the transaction goes through.&nbsp;</p><p>Transactions on Ripple don’t always use XRP. Ripple also supports fiat currencies like dollars, euros, pounds, and yen. You can even add other cryptocurrencies, frequent flyer miles, or gold to your XRP wallet and make exchanges. Ripple is primarily a payment processor and currency exchange, and the XRP currency is necessary but secondary to Ripple’s mission. Because of this, Ripple does not compete with other cryptocurrencies like Bitcoin or Ethereum. Instead, it competes with payment systems like Swift or ACH.&nbsp;</p><h2><strong>BUY RIPPLE IN AUSTRALIA: USE CASES</strong></h2><p><strong>Currency Exchange:&nbsp;</strong>Many currencies have a limited market for conversion, meaning banks use USD as a middleman. Ripple is a much cheaper middleman than USD.</p><p><strong>Quick Global Transfers:&nbsp;</strong>The average Ripple transaction takes 4 seconds. This is significantly less than Bitcoin or regular banking transfers that take an hour or even a few days.</p><p><strong>Payment Ecosystem:</strong>&nbsp;Individuals can issue their own currency for fast and cheap transactions. For example, you can create a currency to buy vintage vinyl or action figures between collectors.</p><h2><strong>BUY RIPPLE IN AUSTRALIA: IS RIPPLE A GOOD INVESTMENT?</strong></h2><p>While there is no such thing as a 100% safe investment, we’ve laid out some pros and cons to help you make a decision before you buy Ripple Australia.</p><h3>PROS</h3><ol><li>Ripple (XRP) is an official organization trusted by many banks.</li><li>There is no inflation because all the tokens are pre-mined and already exist.</li><li>The more banks that use it as their transaction platform, the higher the value of XRP.&nbsp;</li></ol><h3>CONS</h3><ol><li>Ripple is highly centralized since Ripple developers can decide when and how much to release.</li><li>It is currently a monopoly as Ripple Labs owns 61% of the coins.</li><li>It is open-source which means there is a good chance people will try to hack it.&nbsp;</li></ol><h2><strong>BUY RIPPLE IN AUSTRALIA: WHERE DO I START?</strong></h2><p>Now that you sort of understand Ripple XRP, you can make an educated decision about your Ripple XRP investment. Banks are still testing XRP, seeing the major advantages it brings, and who knows, maybe once regulations kick in, we might see adoption very fast. If you are worried about where to buy ripple XRP in Australia then Contact a reliable Ripple (XRP) cryptocurrency trading platform&nbsp;<strong>Coinstash</strong>&nbsp;now.</p><h2><strong>HOW TO BUY XRP IN AUSTRALIA?</strong></h2><p>To buy XRP Ripple in Australia, simply sign in to Coinstash cryptocurrency exchange&nbsp;<strong>–</strong>&nbsp;Deposit some AUD into your account&nbsp;<strong>–</strong>&nbsp;Enter the AUD amount of XRP Ripple you want to buy and click&nbsp;<strong>‘</strong><a href="https://dash.coinstash.com.au/#/buy/xrp" rel="noopener noreferrer" target="_blank"><strong>Buy XRP</strong></a><strong>‘</strong>. If you do not have an account you can sign up&nbsp;<a href="https://dash.coinstash.com.au/#/auth/signup" rel="noopener noreferrer" target="_blank"><strong>here</strong></a>!</p><p><a href="https://coinstash.com.au/" rel="noopener noreferrer" target="_blank">Buy Ripple XRP Today</a>!</p><h2><strong>ABOUT COINSTASH</strong></h2><p><a href="https://coinstash.com.au/" rel="noopener noreferrer" target="_blank">Coinstash</a>&nbsp;is a registered digital currency exchange based in Australia. Our customers praise Coinstash as one of the most user-friendly, educational and supportive platforms. Through its live support 7 days a week, Coinstash has accumulated numerous&nbsp;<a href="https://au.trustpilot.com/review/www.coinstash.com.au" rel="noopener noreferrer" target="_blank">positive reviews</a>&nbsp;from its customers. Coinstash is also one of the only digital currency trading platforms that has participated in Australian government Austrade’s&nbsp;<a href="https://www.austrade.gov.au/landingpads/locations/singapore/coinstash" rel="noopener noreferrer" target="_blank">landing pad program</a>. You can safely buy XRP in Australia with Coinstash!</p><p>Note nothing in this article should constitute general or specific financial advice. Coinstash does not take into account your circumstances when publishing articles. Any content on Coinstash.com.au or related domains are informational only.</p>

What you need to know before you buy Ripple in Australia

<p>Surprise, surprise! Bitcoin is still around. You didn’t think it would last this long, did you? Well, it has, and now is as good a time as any to jump on board. Here is a guide on how to make money with Bitcoin.</p><p>More than just a digital lottery ticket, bitcoin is proving a formidable, but still risky, investment option.</p><p>You might’ve heard of young bitcoin investors who&nbsp;<a href="https://test.coinstash.com.au/blog/10-ways-to-become-a-bitcoin-millionaire/" rel="noopener noreferrer" target="_blank">became Bitcoin millionaires</a>. Knowing how to make money with&nbsp;<strong>b</strong>itcoin isn’t simple, but we’ll guide you through.</p><h2>HOW TO MAKE MONEY WITH BITCOIN</h2><p>If you’ve heard of Bitcoin, you have likely heard the infamous story of the Bitcoin pizzas. If not, it goes like this:</p><p>A Florida computer programmer paid 10,000&nbsp;<a href="https://www.investopedia.com/news/bitcoin-pizza-day-celebrating-20-million-pizza-order/" rel="noopener noreferrer" target="_blank">Bitcoin for two pizzas</a>, translating to just under ten dollars (U.S.). The current price of bitcoin is $10,000 per coin. You can do the sad math.</p><p>That amount of bitcoin would be worth over one hundred million U.S. dollars today. This story may be crazy, but it has become a parable in popular culture. The moral of the story? Bitcoin, as speculative as it is, contains explosive potential.</p><p>And that potential doesn’t seem to be going away any time soon. The legendary&nbsp;bitcoin spike of 2017 saw the price per coin skyrocketing to $20,000. Even after a price decline,&nbsp;<a href="https://cryptowat.ch/assets/btc" rel="noopener noreferrer" target="_blank">2020 shows Bitcoin holding firm</a>&nbsp;at well over $10,000 per coin.</p><p>And if Bitcoin can survive in 2020, it’s something that deserves attention.</p><p>If you’ve been on the fence about investing in this kind of speculative currencies, you may be wondering if you can still learn how to get rich with Bitcoin.</p><p>The answer is yes. Even though the days of cheap bitcoin are long gone, you can still reap the benefits of bitcoin’s upward trend.</p><h3>HOW TO MAKE MONEY WITH BITCOIN: MINING</h3><p>There are two fundamental ways to get rich with Bitcoin. The first is very impractical but important to understand.</p><p>Mining.</p><p>Discussing the details of bitcoin mining is beyond the scope of this article. However, it is worth noting that this method is energy-intensive and time-consuming.</p><p>The kicker is that, despite its resource intensiveness, Bitcoin mining doesn’t guarantee a payout. Verifying the requisite 1 MB of transactions only ensures the miner the&nbsp;chance&nbsp;to receive a bitcoin.</p><p>The amount of energy it takes to mine bitcoin makes it hardly worth the effort–you would end up using more money in electricity than the bitcoin is worth. But for those up to the challenge,&nbsp;<a href="https://www.investopedia.com/tech/how-does-bitcoin-mining-work/" rel="noopener noreferrer" target="_blank">Bitcoin mining</a>&nbsp;is literally like minting currency.</p><p>Before you start dreaming of spinning gold from data like a cyber-Rumplestilsken, consider the more realistic way to get rich from Bitcoin:&nbsp;<strong>TRADING.</strong></p><h3>HOW TO MAKE MONEY WITH BITCOIN: INVESTING</h3><p>Bitcoin investing is by far the most likely way you’ll earn money on the Bitcoin craze. And with over five hundred bitcoin exchanges in existence today, investing options are ample.</p><p>From national exchanges like Australia’s ACX to index funds like the Grayscale Bitcoin Trust, you can find the level of investment and risk that suits you best.</p><p>Keep in mind that bitcoin is a type of currency, and currency values vary by country. So a&nbsp;<a href="https://test.coinstash.com.au/blog/what-determines-the-bitcoin-price-aud-a-complete-guide/" rel="noopener noreferrer" target="_blank">Bitcoin’s price in Australia</a>&nbsp;will be different from&nbsp;its price in&nbsp;Europe or Canada.</p><p>That said, here is the simple three-step process of investing in Bitcoin and, with time, becoming a Bitcoin millionaire.</p><h2>BECOME A BITCOIN MILLIONAIRE IN 3 EASY STEPS</h2><p>Unfortunately, you can’t go back in time to 2011. Investing just $10,000 on 100 Bitcoin back then, when it was at $10 per coin, would have yielded seven figures by now.</p><p>The next best time to invest? Right now.</p><p>The good thing about being a decade out from Bitcoin’s inception? As a new investor, you learn from those who came before you. Even though Bitcoin is still considered speculative, it’s far less so now than it was way back when.</p><p>So everyday investors can learn from this brief but spectacular track record. And you don’t have to be a techie to get involved, which was not the case when Bitcoin first emerged.</p><p>So you want to become a Bitcoin millionaire? Here are 3 steps you can take to make money with Bitcoin.</p><h3>STEP 1: SET ASIDE MONEY TO INVEST</h3><p>One of the benefits of there being so many ways to invest is that you can start small. The majority of platforms allow you to invest the amount that works best for you, from as little as $20 a week.</p><p>With the price for each bitcoin soaring above $10,000 the days are over when investors even consider buying entire coins. But you can invest in fractions of a coin. Set aside $50 every week, and you will likely see six figures before you know it.</p><h3>STEP 2: CHOOSE THE RIGHT EXCHANGE</h3><p>The legion of exchanges is mindboggling, and it can be difficult to choose which one to go with. For this reason, it’s essential to do your research.</p><p>Consider the fee for each transaction, as well as the percentage fee per holding.</p><p>You also want to consider the&nbsp;<a href="https://test.coinstash.com.au/blog/is-bitcoin-safe/" rel="noopener noreferrer" target="_blank">safety of your Bitcoin holdings</a>. Across the board, hardware, or “cold” wallets tend to be the most secure. Hot wallets, while more accessible, remain vulnerable to hacking because they exist entirely online.</p><p>Some exchanges require you to have a wallet. Some just require you to deposit money every month.</p><h3>STEP 3: GIVE IT TIME</h3><p>Most investors will tell you that time is on your side when it comes to the most significant returns. Famed investor Warren Buffet’s value investing method relies on waiting years for a stock’s value to increase.</p><p>The same goes for Bitcoin. Once you have decided on a comfortable, regular amount to invest, as well as a platform, it’s time to invest–for the long term.</p><p>If you dive into Bitcoin investing expecting returns in just a year or two, you may be sorely disappointed. Invest in the long-term commitment of at least five to ten years in mind. You will be well on your way to investment wealth.</p><h3>START TODAY</h3><p>Learning how to make money with Bitcoin is within your reach. Bitcoin has been minting new millionaires year after year since its inception. Why not you too?</p><p>If you do your homework and invest your money for the long haul, you can ride the Bitcoin bandwagon!</p><p><a href="https://coinstash.com.au/" rel="noopener noreferrer" target="_blank">Sign up</a>&nbsp;today to start trading Bitcoin in Australia.</p>

Who Wants To Be A Millionaire? How To Make Money With Bitcoin

<h2><strong>INTRODUCTION</strong></h2><p>What is Bitcoin? In layman’s terms, Bitcoin (or BTC) is a digital asset that individuals, companies and other entities transact via the blockchain network. Bitcoin works as a medium of exchange (much like traditional currencies) that utilises cryptography.&nbsp;As a result, many of its users coin it (pun intended) with the term ‘cryptocurrency’.</p>

Image

<p>The key difference between Bitcoin and traditional currencies is that the former operates on a decentralised network.&nbsp;This means there is no government or other ‘centralised’ organisations behind the creation, recognition, and circulation of Bitcoin. In fact, Bitcoin relies on an infrastructure that is supported by its users and industry participants such as miners.</p><p>Bitcoin has been, since its inception, the leading cryptocurrency in the market. It has a total market capitalisation of more than&nbsp;<a href="https://coinmarketcap.com/" rel="noopener noreferrer" target="_blank">USD$200 billion</a>&nbsp;and accounts for more than 60% of the market capitalisation of all cryptocurrencies at the time of writing.</p><h2><strong>WHY DOES BITCOIN HAVE VALUE?</strong></h2><p>To someone who is new to the industry, it is natural to question the value of Bitcoin. At close to USD$13,000 per BTC at the time of writing, many think ‘it is too expensive already, I think I have already missed the boat’. We believe this is far from the truth.</p><h2>THE ANALYSIS</h2><p>Firstly, even though it has been more than 10 years since the inception of Bitcoin, a lot of people are still not familiar with its divisibility. Each user will not need to own a whole BTC. In fact, there is a view within the community that as time progresses, it would be uncommon for the average person to have enough resources to own an entire coin. The smallest unit of BTC is called the Satoshi, which represents 0.00000001 BTC. There is no harm to own, for example, 0.05 of a BTC, as it is still a sizable investment after all!</p><p>Secondly, Bitcoin, similar to many other assets, derives its value from the concept of utility. If people use an asset in a way that satisfies human needs, then it has value. The&nbsp;vice versa&nbsp;is also true. The utility of BTC is twofold: 1) its utility as a medium of exchange; and 2) its utility of being a store of value. Bitcoin’s utility as a medium of exchange is very evident in regions where the financial system is fragile, the cost of cross-border money transfer is high, and/or capital controls are unreasonable. In those regions, people use Bitcoin as the preferred medium of exchange over traditional legal tender. Having said this, Bitcoin’s utility as a store of value is also invaluable.</p><p>Many investors and participants in the community view Bitcoin as the ‘digital gold’. Put simply, it has all the attributes of gold, including being scarce, divisible, fungible, durable and resistant to counterfeit. Also, BTC is far easier to store and transport compared to gold.</p><h2>OUR CONCLUSION</h2><p>Ultimately, the utility of BTC both as a medium of exchange and store of value stems from recognition and mass adoption. The mass of followers that BTC has gathered over time is a key factor that Bitcoin carries as much value as it does today. In other words, the popular adoption of Bitcoin as an asset grants value to the asset itself. The authors believe that at the time of writing, Bitcoin has already passed what people label as ‘critical mass’.&nbsp;This means that it has obtained sufficient recognition in the community which makes its continued growth a high likelihood event.</p><h2><strong>INTERESTED AND WONDERING WHERE YOU CAN GET YOUR BITCOIN?</strong></h2><p>It really depends on where you are located. However, if you are located in Australia…</p>

What Is Bitcoin And Why Does It Have Value?

MainTop

Popular cryptos for investors like you

Coinstash in the news

Start trading in less than a minute

At Coinstash, we really look after our customers.  You are guaranteed a peace of mind, by having a real person to chat to from 9am to 11pm everyday. 
Founded in 2017, we have helped thousands of Australians to trade crypto and collected numerous positive reviews.  We have been featured in a number of mainstream media channels, including SBS World News.

Already a registered digital currency exchange, Coinstash went one step further by acquiring an AFSL licensee, making it one of the few exchanges in Australia to do so.  Coinstash is committed to invest in compliance and build consumer confidence in the industry.   

“Coinstash is a simple to use crypto trading platform. I opened my account quickly and was able to verify my identity on the spot and make my first trade.”

“Super easy sign up, good features and support as I need it. Options with these guys are clear ... make crypto easy.”

HomepageSteps

HomepageCommunity

Our moderated group to discuss all things crypto! Keep up to date with daily crypto news, gather insights from community polls and learn from like-minded Coinstashers. Be a part of our growing community of crypto beginners and enthusiasts by joining today!

The Official Coinstash Cryptocurrency Facebook Community (Australia)

The official Coinstash Affiliate group. Get access to affiliate only offers and promotions and receive prizes for your affiliate content. Chat with other affiliates for tips on how to promote Coinstash and earn more passive income!

Coinstash Affiliates (Australia)

HomepageBlog

HomepageFaq

Founded in 2017, TWMT Pty Ltd trading as Coinstash AU is one of the highest-rated crypto platforms in Australia.  Having served thousands of customers, people love us because of our great customer support, easy-to-use interface as well as the continuous development of new and innovative features.  Coinstash is your one-stop solution for crypto.

Why Coinstash?

Based here locally in Australia, Coinstash has never had an incident when its customers' funds are compromised.   Since inception, Coinstash has been treating security as its highest priority.  Customers are free to withdraw their funds according to their daily limits at any time.  Coinstash is also one of the only crypto platforms that acquired an AFS Licensee.

Is my money safe with Coinstash?

Coinstash is more than just another crypto exchange.  We aim to to be the one-stop solution for anything crypto related, by assisting our users throughout every step of their crypto journey.  We have roadmaps to achieve this by bringing out new and innovative products such as Coinstash Earn, Borrow and Spend.

What makes Coinstash different?

Absolutely you can! We have a streamlined process for corporate onboarding.  If you are the director of a company or SMSF trustee, speak to our customer support in live chat and they will guide you through the process.  We also offer exclusive benefits for our most loyal customers, including phone / text support, OTC services and more.  