So today was a good day.
Not only did I have a great night sleep & a productive day but I bought my first amount of Bitcoin & used that Bitcoin to buy 2 USI-Tech Bitcoin packs.
If you don’t know what it means when I mention the buying Bitcoin packs with USI-Tech then you can check out my post I am writing documenting my journey with USI-Tech here: http://alexbenderonline.com/fully-transparent-bitcoin-trading-with-usi-tech/
Initially its very daunting trying to buy Bitcoin – you would think it would be easy to do – however its really not as easy as originally thought.
I honestly thought it would be as simple as doing a google search on where to buy bitcoin, go on a site & enter my credit card details – viola, now I have bitcoins…. However there is a lot more to it than that.
First thing you need to do is get a place to store your bitcoin – a place that someone is not likely to steal it…..
There are a few different options, depending on what security you want in place for your bitcoin – from what I hear you really don’t want to keep your bitcoin in an exchange, you would at least want your own Bitcoin wallet.
I chose to have my Bitcoin wallet with BitPay. A nice & easy wallet I can access from my phone.
So after I set up my BitPay wallet my next thing to do was to go and put some Bitcoin in my wallet…..
It turns out there are lots of choices for buying Bitcoin here in Australia, and I found it difficult to choose the right place.
Most sites require verification & transferring money into their account.
I found a quick and easy way to secure my first amount of Bitcoin, without the need for verification or transferring money with bank transfer.
I came across bitcoin.com.au a place that I can order Bitcoin online, however I can pay for it offline – at a Commonwealth Bank or even some Newsagents.
I thought about it and came to the conclusion that it is probably the best way for me to get my first amount of bitcoin, and I will research better ways for the future – I just wanted to get my grubby hands on some Bitcoin (Funnily enough as grubby as my hands are… Bitcoin is electronic… so I’ll never really get my hands on them ever)
So as you can see from the video above – it was really easy for me to order the Bitcoin….
I simply went to bitcoin.com.au selected “Buy Bitcoins”, selected how I wanted to buy them (bank/newsagent) as it was weekend I chose the newsagent (I incurred an extra 2% fee), how much I wanted to buy, scanned the QR code on my BitPay wallet using my webcam and then placed my order. I was sent a verification code to my phone via SMS, then I was sent an email with a purchase order for the Bitcoin.
I then had 2 hours to purchase my Bitcoin at a newsagency.
This is where I came across my first problem….. I did not read the email properly.
My intention was to pay via eftpos….. however to buy Bitcoin at a newsagency you must provide cash to complete the purchase.
But I didn’t have any cash on me.
So off I went in search of an ATM then came back to the newsagency with cash, I handed my phone to the teller, he entered the order number, took my cash and fulfilled my order of Bitcoin.
I immediately received this notification from my BitPay wallet:
No I know its not much Bitcoin…. but its a start!
I felt that I had to document this day….. this is me just outside the newsagent
So yes, this was probably a bit more of an expensive way to go about buying Bitcoin.
And yes, it was probably more hassle than it needed to be.
I probably won’t be buying bitcoin like this again… I will probably find a good place to buy Bitcoin online that I can trust & its cheaper.
But it was a lot of fun – and it was a good experience.
So…… now I have my Bitcoin its time for me to put my money to work!
The whole purpose of my buying Bitcoin was for me to then buy packs with USI-Tech so when I got home that was my first task!.
Truthfully – it was incredibly easy!
Check out this video of me buying my first Bitcoin packs with USI-Tech
As you can see it was super easy to do.
Once the Bitcoin was transferred I checked back in about an hour and it was all approved.
And the kicker with that is you may have seen in that video – I referred a new member to USI-Tech while i was recording the video! The beauty of referring people to USI-Tech is that every time someone you refer buys a bitcoin back, USI-Tech pays you 10% commission immediately!
So not only am I making a 140% return on my Investment in 140 days, I am also going to be making money on my referrals where I will put that commission into buying more Bitcoin packs!
Find out more about creating a passive income with Bitcoin & USI-Tech by clicking here & reading my article