A lot of us must have heard of the bitcoin revolution, perhaps on Newscast or TV documentaries. Some may have learnt about the existence of Bitcoin through marketers of platforms such as Zarfund and MMM United which are the two main wealth creation platforms using Bitcoins.
However, to a vast majority of people, Bitcoin still remains unknown
So, what is Bitcoin?
Bitcoin is a the world’s fastest growing and most stable crypto currency invented in 2009 for the purpose of easing financial transactions across the globe. The currency has universal acceptance and is increasingly being adopted by high-end tech companies as a means of financial transaction as it eliminates the hassles associated with traditional financial institutions.
When considering the opportunity that the Bitcoin revolution offers smart entrepreneurs, it is important to mention that the rate of appreciation of Bitcoins over the past couple of years has been ridiculously dramatic.
For example, as at December 2015, 1 Bitcoin was valued at less than $100. But now, the same 1 Bitcoin exchanges for over $750, that’s a 700% appreciation in less than 2 years. No currency the world over has recorded half as much appreciation in value.
It is even predicted that as the global community becomes more aware and migrates totally to Bitcoin for financial transactions in coming years, the value of the currency would get even higher.
Now, how can you as an entrepreneur key into the opportunity that the Bitcoin Revolution offers?
First, given the increasing acceptance of the currency and the soaring price in the international market, wouldn’t you consider buying the currency in bulk and selling them later at a higher price just as many vendors are already doing?
Consider someone who invested $10,000 as at 2015 to buy Bitcoins, today, such an entrepreneur should be walking away with $75,000, and that is if he decides to sell. Indeed, with the current increase experienced in the Bitcoin market, it is even not advisable to sell the currency for now.
Again, the fact that some wealth creation programmes like MMM United and Zarfund among others use strictly bitcoins, it means that with more and more people signing up for these programmes, the demand for Bitcoins will remain on the rise. Thus, a smart entrepreneur can quickly acquire a good amount of Bitcoins and sell them when the demand climaxes.
Lastly, given the ease with which financial transactions can be completed using Bitcoins, entrepreneurs, especially those offering financial services can key into the opportunity and migrate to a solution that will afford seamless movement of funds to any part of the world.
Gone are the days when we have to suffer restrictions on cash movement by financial institutions. The days when money transfer was monitored are gradually being consigned to history. What this means is that entrepreneurs have a means of getting things done on time.
HOW TO USE BITCOINS
Trading with Bitcoins demands opening a Bitcoin wallet with a secure platform such as blockchain.info.
You can only conduct transaction from this wallet. To transfer funds from your wallet to someone else, he too must have a bitcoin wallet.
To create a bitcoin wallet, log onto www.blockchain.info
Click on wallet
and then click on Create Wallet
On the next page enter your email and password and click to continue.
Thereafter, click on Get started
Your bitcoin wallet is created and ready to be funded with bitcoins.
However, you might be interested in learning How to Secure Your Bitcoin Wallet from Unauthorized Access.
HOW TO FUND YOUR BITCOIN WALLET
If you’re in Nigeria and want to fund your Bitcoin wallet with a reasonable amount say $100 or more, then Visit Bit2pm, the cheapest foreign exchange vendor for bulk purchase. Alternatively, you can click on the BIT2PM BANNER on this website and you’ll be redirected to the site where you can make the purchase. You can also purchase bitcoins on Naira4dollar, though it will be slightly more expensive.
On the Bit2PM website, Click on Create Account as shown below
A pop-up appears asking for your registration details. Enter them accurately and click Register. You should be redirected to your account page. If not, just click to cancel the pop-up as shown and reload the page.
Now in your account page, put in the amount in Nigerian Naira that you want to use in buying the bitcoins and then Click Exchange.
The next screen asks for your email address and Bitcoin address. I hope that by now you should know how to get your bitcoin address. In case you don’t, just go back to your MMM United Dashboard, click on Account button and then copy your bitcoin address.
Back to the BIT2PM account, enter your bitcoin address and click process exchange.
On the next screen, click on confirm order.
The Next screen details the bank account you pay into. Make payments in favour of the account details provided and enter the transaction number or teller number and then hit confirm transaction.
Soon after that, your bitcoin wallet will be credited
HOW TO CARRYOUT TRANSACTIONS USING YOUR BITCOIN WALLET
All your need to do is to log into your Bitcoin wallet using your Bitcoin ID and your password. If you’re using blockchain.info, and had activated a double confirmation option to keep your wallet even more secure, you will also need to log into your email and confirm the log in attempt on your wallet. Again, you will need to enter a code sent as SMS to your mobile phone.
When you are logged in, click on the Send button. A pop-up appears.
In the pop-up, you will have to paste in the Bitcoin address of the recipient, that is, the person you intend to send your bitcoin to. Thereafter, just enter the Bitcoin amount and click on Continue. Next, just click to confirm your transfer and viola, you’ve successfully transferred your bitcoins.
There is usually a transaction ID or hash ID that stands as a proof of transfer. Sometimes especially on Zarfund and MMM United platforms, you will need to submit this Hash ID as an evidence of payment.
To receive Bitcoins as payment or something else, log into your Bitcoin wallet and click on the Receive button and copy the string of alphanumeric characters shown and share with the sender. That is your Bitcoin address and must be used by the sender to transfer bitcoins to your wallet.
Note that this wallet address changes from time to time. However, each of such address is unique to your account.
On a final note, whether you use Bitcoins for transaction or investment in MMM United or Zarfund, the Bitcoin revolution can be said to be the best thing since sliced bread. However, it is important for you to perfectly understand how to use Bitcoins. This is because you can lose millions of dollars by a simple click if you don’t know what you’re doing.
I hope this article helps you to understand and take advantage of the opportunity the Bitcoin revolution offers entrepreneurs like you.
In case you have any questions or for further guidance on how to use this crypto currency, Bitcoins, please send an email to email@example.com and I will be more than glad to help out.
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