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Thank you for this share.
Hey guys has anyone tried this method? It looks really simple but the math behind it I cant understand
This method works with basically any BTC marketplace.
Basically it goes like this:
Make sure you have a btc wallet set up, invest around $20 into BTC
Then create some BTC marketplace accounts
Then make listings for buying BTC
Then make listings for selling BTC (don't list more BTC than you actually have though only list BTC you actually have in your BTC wallet)
Basically you want to be selling the BTC for at least 10%-15% more than you are investing for them.
So for example if 1 BTC is worth $289 right now and you sell it you want to earn around 10-15% from the sell which will be $28.9- $43.35 gained
Basically you keep repeating this. So with your $20 investment you then sell the BTC you get which will be around .07 right now... Then you take it to these BTC markets and list it for sell, you sell then you earn at least 10-15% off this $20 investment which earns you around $2-$3 per $20.
Then you take the money $23 and buy from people who offer to sell to you at the rate you posted a listing for and put all your $22-$23 back into BTC... and do the method again this time you earn between $2.30-$3.45 if you sell at 10%-15% higher than you paid. so now you would have $24.30-$26.45 total.
The larger money you can afford to invest in the beginning will determine how much you can profit doing this faster. If you want to do this and really be able to profit I think it would be best to start with at least $100-$200 investment.
If you do this 50-100 times a day at least then you could make serious money, it would be slow earning for the first day or 2 though most likely. but if you continue it and keep at it you can make really good money doing this if you work your way up to having $1,000 invested in BTc that is when you really start making money because Then by the time you sell all that which is easily achievable now days especially if you use multiple popular BTC marketplaces. So if you sell all $1,000 worth of BTC then you earn $100-$150 from that sell at 10-15%. If you get up to $5000 in BTC then you resell for 10%-15% you will be at $5,500-$5,750.
Once you work your way up into the thousands you really will be making money it will take time most likely a couple weeks to get this high but if you stick with it and continuously buy for lower rates than you're selling you can make thousands a month in profit.
It's basically a process that has to be continuously repeated to see real earnings but its something that can easily be managed. It does get old after a while but just doing it for 1 month can earn you a fair bit of profit to where you can move on to methods of earning that are something you are actually interested in. This type of earning is good but tedious and boring.
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What I have failed to understand are two things:
1. From what's explained in the guide I am led to believe that the buying and selling process is automatic, no ?
You set for how much money you would like to buy or sell bitcoin and you set the rate and the site does the rest?
2. The next after this would be if everything was paid out in paypal, wouldn't all the fees of receiving and sending money reduce the profit?
I am asking all this because I would like to check this out by investing $20 and see how things go from here.
Is there someone else interested in trying this out ?
We can share experiences and hopefully increase our chance of success.
I don't know for sure if it's completely automated or not for sure. Haven't tried this site in this guide. I think you may have to send them the btc from your btc wallet before you receive payment.
Yes if you receive payment through paypal there will be fees. So that's why I think who ever wrote the book didn't do a very good job. I think in order to profit well with this starting out you should be investing at least $100 into it because otherwise you are going to be working quite a bit before you begin to see any real profit.
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