Everybody can afford a bit of a Bitcoin.
A Bitcoin is divisible by 100 million bits. These bits are known as Satoshis.
One Satoshi = 0.00000001 bitcoin (8 decimal places) is worth a 1/50th of a British Penny.
You’ll hear the phrase Stay Humble Stacks Sats a lot while in Bitcoin. SATS are short for satoshis.
It’s easier to think in whole numbers than fractions. Therefore I recommend when talking about Bitcoin, rather than saying 0.01 bitcoin you say 1 million sats.
There are multiple ways to acquire Bitcoin.
Earn Bitcoin
Buy Bitcoin
Mine Bitcoin
All 3 require different technical attributes, don’t be put off. There is a level for everyone to join the biggest monetary evolution of all time.
1. EARN BITCOIN
A Risk Free Option. (Non Technical Users*)
You can expect from 0.4% up to a massive 15% back in bitcoin using a company like Coincorner
(I like this option as any purchase I make will be free if the price of Bitcoin goes up 10x )
Earn Bitcoin For Walking.
Check out the $miles app it will reward you in sats just for walking. Link it to your phone step tracker. Make yourself healthy and wealthy. They also have a roulette wheel you can spin once per 12 hours for the chance to win 420 sats.
This is a nice simple way to learn how to do micropayments. Micropayments use satoshi’s (the smallest denomination of bitcoin.) You can send someone fractions of a penny using the lightning network and it costs to do so is virtually free. (There is a charge to move bitcoin to lightning but once it is there you can make thousands of transactions for ZERO) you can learn more about the lightning network here
I recently sent my lightning wallet 500 sats that I earned using this app. I sent it to my own lightning wallet and it cost 0 ZERO sats.
Earn Interest in Bitcoin
you can earn a % extra on your bitcoin by providing liquidity to an exchange. I use Coinloan, They are based in Estonia and have an impressive history when it comes to security, simple user face plus minimal withdrawal fees means it’s the one for me.
The current interest rate (which is paid in bitcoin) is a max 7.2% APY
Click here to join and pick up free sats
Contribute to the Bitcoin Essex Telegram Channel Earn Sats
They’re a nice bunch in that channel – they hand over bitcoin like it isn’t the most pristine and scarce asset of all time.
In 5 years they’re going to regret giving all those satoshis away.
BUY IT PRIVATELY
from a physical location
Exchange £ Cash for Sats using the Lightning Network.
BUY BITCOIN
from an online exchange using a Credit / Debit Card (Non- Technical Users)
via CoinCorner – All purchases are subject to KYC with credit card or debit card. Buy Bitcoin, Sell Bitcoin.
This is real Bitcoin that you will be able to secure by downloading to your own personal wallet.
GET EXPOSURE
to the Bitcoin Price. (Non-Technical Users)
REVOLUT So you have heard about Bitcoin and its unique number go up technology but do not want the responsibility of holding your own keys. This is not real bitcoin but is the easiest way for someone to hold a derivative of bitcoin. (UPDATE) Revolut now allow you to move your Bitcoin off of their exchange. Limited to £500 per send. And only allowed to send to a maximum of 3 different Bitcoin Addresses. It’s a start.
This is like your bank. This option requires full KYC/AML regulation and exposes yourself to CGT (capital gains tax) were you to sell it.
Earn and Learn about Bitcoin
(Non-Technical Users)
Download the app and earn Satoshis While educating yourself about Bitcoin.
https://play.google.com/store/apps/details?id=com.bitcoinlessons
Mine It. (Computer Mining)
Exchange your electricity for Bitcoin.
Start mining cryptocurrency right now, for free.
Honeyminer makes mining and earning money simple for anyone with a computer.
Join the Squeaky Miners!
We are currently looking at ways to harvest crypto tokens as part of the new era in decentralised things.
Electricity cost is the biggest barrier to entry into mining Bitcoin in the UK. Therefore we have to find other ways to mine crypto and easily convert them to bitcoin.
click here to read full post about it
Collateralise your Bitcoin
Bitcoin Loans – Never Sell your Crypto remove the threat of capital gains tax and live handsomely off your bitcoin.
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