Why Own Bitcoin – How to Invest in Cryptocurrency

by Franco on June 20, 2017

Why Own Bitcoin: How to Invest in Cryptocurrency by Wences Casares, CEO Xapo

Buy Bitcoin – Hold it for 10 Years – 50% Chance of 1 BTC = $1 Million

Wences Casares, the CEO of Xapo.com, a cryptocurrency wallet, vault and place where you can buy bitcoin and use their debit card to spend them like any other debit card at stores or ATMs has some interesting things to say about the future of bitcoin.

He suggests a simple 3 step plan to invest in bitcoin. He also believes there is a 20% chance bitcoin will fail spectacular, and may fail fast, with little notice at all. He also believes there is a 50% chance that bitcoin will be worth $1 million per bitcoin in 10 years.

His recommended 3 step plan for investing in bitcoin?

  1. Take 1% of what you have, and buy bitcoin (all at once and at the market price).
  2. Carry it at cost.
  3. Do not touch it for 10 years.

Why is that his recommended plan?

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BitPay.com – I just received my visa debit card from BitPay. It arrived in the mail and I went to the site to activate it. I also downloaded the BitPay app on my iPhone and installed the BitPay wallet.

With that done, I can now use my smart phone to buy bitcoin and store it on my BitPay wallet on my phone. And if the value of bitcoin goes up on a given day and I’d like to take some profit and buy dinner and a movie out in town, I can simply load USD dollars on my BitPay visa debit card from my BitPay bitcoin wallet and then use it like I would any other debit card.

It’s fun to hold some of my currency in bitcoin and watch the value appreciate on my phone.

Some days I’ve seen my bitcoin wallet account go up by a couple hundred dollars without me doing anything but having bitcoin in my wallet. On some of those days, I’ve taken some money out and back into fiat USD cash and bought more advertising for my internet business or bought some food and beer.

It’s pretty fun.

Don’t get me wrong though, some days I’ve lost 25% or more on bitcoin’s value.

I don’t care though.

I never started using bitcoin solely because of its daily value.

I didn’t buy bitcoin just to speculate on it.

To me, it’s revolution.

You can send bitcoin from person to person, at the speed of light from your phone to their phone, anywhere in the world without any middlemen or bankster hack getting in the way and extorting you.

As an internet entrepreneur I know first hand the absolute choke hold merchant processing companies have on your business and the exhorbitant amount of fees they charge over time. For some “high risk” (whatever they determine that is on any given day) businesses, the fees to process credit card payments can run beyond 10% per transaction.

Can you imagine that?

That’s bullshit.

That’s “partner level” equity cuts of your business and they fight you tooth and nail every step of the way.

And they take more than 10% off the top?

Oh, hell no.

I saw the vision and the utility of cryptocurrency like bitcoin instantly once I realized that if it could be adopted by a good chunk of the masses, people would show up to build apps to allow us to do merchant processing at our existing businesses via bitcoin.

We saw the future.

I knew companies would show up and create what Xapo.com and BitPay and Coinbase, Uphold and BlockChain have created in apps that make it easier and seamless for the masses to begin to transact and exchange value in bitcoin, peer to peer, and peer to business without the extortion rackets of the establishment banksters.

All in baby on that one.

And we’re just getting started.

We can create whatever we want using blockchain technology and we can liberate our ideas and take them directly to the market.

We’re using cryptocurrency, bitcoin and this blockchain tech to help people setup their own internet businesses, fund their causes through cryptocurrency peer2peer private crowdfunding platforms and other apps. And we’re just getting started.

I recommend you buy some bitcoin.

Get a blockchain wallet and put some bitcoin in there.

Learn everything you can about bitcoin and cryptocurrency basics.

Learn everything you can about whate crowdfunding and crowdsourcing is and what you can really do with it.

You want to be on the right side of this thing, trust me.

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Another unique bitcoin crowdfunding community here allows you to start with just a one-time $20.

This is available for everyone.

 

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