In this article we discuss how to get 1 Bitcoin fast. We explain what Bitcoin and cryptocurrency is, the uses and future of cryptocurrency and make some future predictions.
Prior to learning how to get 1 Bitcoin fast, it is important to understand what Bitcoin is and what it does. So, let’s learn what Bitcoin is and how to get 1 Bitcoin fast.
What is Bitcoin (BTC)?
Bitcoin is a Peer-to-Peer Cryptocurrency Payment System Founded in 2009
Bitcoin is an open-source, block chain-based technology that was designed as a peer-to-peer payment system. It is designed to be a decentralized electronic payment method that can be conducted semi-anonymously among individuals. As well, Bitcoin is digital cash. The other intent of Bitcoin is to solve the double spend problem that had been encountered in the past with electronic currencies.
It uses block chain technology to maintain its function. First, for users to send and receive bitcoin, the block chain depends on miners. Second, miners use special computers to complete complex calculations which build blocks on the block chain. As a reward, miners are paid in Bitcoin upon completion of each block.
The world first learned about Bitcoin in 2009. It is unknown who invented bitcoin; however, a developer named Satoshi Nakamoto (probably a pseudonym) released a 9-page white paper entitled, “Bitcoin: A Peer-to-Peer Electronic Cash System.” As a result, the Bitcoin white paper describes Bitcoin’s purpose and how it works.
It was the first cryptocurrency to experience widespread use and adoption. However, Bitcoin’s use case has evolved over the years from a peer-to-peer payment method to a store of value model. For instance, many Bitcoin users hold bitcoin much like you would hold silver or gold in an investment portfolio.
Bitcoin Price: How to get 1 Bitcoin Fast
Prior to 2017, there were many opportunities for how to get 1 Bitcoin fast. In 2016, one Bitcoin cost less than $500. As a result, simply trading $500 (or less) was the easiest method for how to get 1 Bitcoin fast. Unfortunately, today Bitcoin is several orders of magnitude more expensive than in 2016. As a result, there is not an easy way for how to get 1 Bitcoin fast.
Although there’s no easy method for how to get 1 Bitcoin fast, here are some suggestions to stack Satoshis (fractions of Bitcoin) fast:
- Sell Things You Don’t Need
- Rent Out Your Room or Car
- A Side Hustle job
Sell Items Lying Around the House
Sell Things Like Electronics, Jewelry and Name Brand Items Online or in a Garage Sale
The quickest method for how to get 1 Bitcoin fast is to sell things. Take an inventory of what you have at home that isn’t needed. Cell phones, gift cards and electronics are quick sellers. Other items that you may have not considered include:
- Vintage toys
- Fitness equipment
- Name Brand Items (Apple, Bose, Tiffany, Etc.)
First, the common places to sell the items include eBay, Etsy, LetGo, Swappa, Gift Card Granny and Gazelle. Each of these sellers offers a phone app so you can easily manage purchases directly from your cell phone. The money from each sale goes directly to your bank account. Note: fees may apply.
Second, if you are looking to learn how to get 1 Bitcoin fast, have a garage sale. Garage sales are great if you want to avoid the hassle of photographing and listing items for sale online. In addition, each sale generates instant cash.
Finally, a hybrid of online selling and hosting a garage sale is Facebook Marketplace. Facebook Marketplace works as an online garage sale and allows you to reach a larger marketplace of buyers compared with selling in your neighborhood.
Convert Coins to Cash
Another way for how to get 1 Bitcoin fast is cashing in coins. Many people put extra change from their pockets in a jar at home and forget about it. If you if you want to know how to make 20 dollars fast, you can simply take the change jar down to your bank or a coin exchange. For a small fee, the coins are quickly counted and paid out in cash. If you have a bank account, check with your bank for coin exchange service. In addition, Coinstar is a popular coin exchange as well.
Rent a Room/Car
Earn Extra Money Renting an Extra Room and Rent Your Car
One hidden secret for how to get 1 Bitcoin fast is subleasing and renting. If you have a spare room or place to lease you can rent it out. Many people think of Airbnb as a vacation rental site. However, you can also rent out an extra room using Airbnb, the local paper or Craigslist to earn extra cash. Note: there’s a lot of issues to unpack regarding renting a room to a stranger, so make sure you do your research if you decide to rent out a room.
Have a car that you hardly use? You can also rent your car. Sites like Turo allow you to list your vehicle on their site and earn extra cash from rental fees. Vehicle protection plans are available and you earn approximately 65-85% of the trip price.
More Ideas to Earn Extra Money
Great Ways to Earn Extra Money Include Seasonal Work, Side Hustles and Starting a Business
One dirty little secret that successful people don’t share about their success is what they had to do to become successful. Successful people often work 2-3 jobs, work long hours and work to do things that no one else wanted to do. But this job is also how to get 1 Bitcoin fast for some people.
It’s not glamorous to deliver pizzas or wash cars when you have a master’s degree from a prominent university. But sometimes to get ahead you have to swallow your pride and do what must be done. I’m not suggesting that you do anything illegal to make money; on the contrary, there are plenty of legal jobs that will earn real money for you. Note: these ideas don’t earn money as quickly as selling your personal items.
Seasonal Jobs Include Retail Workers, Tax Season Workers and Vacation Season Workers
During the holidays, seasonal workers are needed in most areas. The Fall holiday season is the busiest shopping time of the year. Employers hire extra staff to help with the higher demand from customers. Examples include retail sales, delivery drivers and merchandise stockers.
Other seasonal jobs include working in the tax industry during tax season and working festivals and resorts during the summer or winter vacation season. Seasonal jobs can be a great way how to get 1 Bitcoin fast.
Having a side hustle has become more common these days. Unfortunately, many people work a second job simply to make ends meet. But there’s no shame in working hard to get ahead. Common side hustles today include:
- Uber/Lyft Driver
- Food/Grocery Delivery
- Dog Walking and Sitting
- House Cleaning
- Gig Economy Services (Fiverr)
- Freelance Work Online
- Wash and Detail Cars
Start a Business
There are Great Opportunities for Starting a Business, Including Service Industry Business, Home Based Business and Home Sales Business
If you read or see the news, you may believe that there’s no hope for you to make money. However, there’s never been a better time to start a business. The opportunities are endless for someone willing to put in the work. You can start a business locally in the service industry, such as delivery, massage, home/car repair, pet sitting/walking, babysitting, etc. None of these businesses require an office or a startup cost.
If you don’t want to start local service business, you can work from your computer at home. Another way to figure out how to get 1 Bitcoin fast can be to sell things online. For example, some of the platforms available for online selling include Amazon, eBay, Etsy and Facebook Marketplace. You can buy and sell new or used items. In addition, you can create your own brand. There are many options for selling goods online.
Also, you can sell services online. Are you good at building websites, social media or marketing? Many businesses now have an online presence and they need marketers and SEO consultants to help them reach customers.
What is Cryptocurrency?
Cryptocurrency is a digital asset. Payments occur between individuals on the internet. In addition, the best cryptocurrency uses cryptography to secure transactions on a network. Block chain technology is part of what makes the network secure. Miners use powerful computers to solve advanced equations in order to earn Bitcoin or other cryptocurrencies. Finally, mining makes the distributed ledger network secure. In addition, it ensures that transactions are complete. As a result, no one can cheat the system.
What is Block Chain?
The block chain stores data on a public database. The blocks of information include transaction data, participant data and distinguishing data. Each block of data stores thousands of transactions under cryptographic lock and key. A network of computers operates the blockchain. They make the network run and keep it secure by solving algorithmic hashes. The network computers earn cryptocurrency for their work. The bitcoin block chain technology uses a distributed ledger. Bitcoin’s network security hinges on the distributed ledger that the network participates in.
What is the Best Cryptocurrency?
The best cryptocurrency is the most secure, has the strongest user base, has been operating the longest. In addition, it has the highest capitalized market. By this standard Bitcoin is the best cryptocurrency.
$1 Trillion Market Capitalization of Bitcoin
The total market capitalization of Bitcoin is around $1 Trillion dollars and growing. Bitcoin has always been the dominant cryptocurrency in the market and remains so. Moreover, its market dominance is approximately 60% against the other cryptocurrencies. Additionally, approximately $6 out of every $10 in the cryptocurrency market is used to purchase Bitcoin.
Bitcoin Continues to Grow
There are a couple of things to understand about Bitcoin growth. First, Bitcoin is growing in popularity and use worldwide. Users are adopting Bitcoin as a store of value like gold and using it as a payment method in places where banks don’t exist. Second, Bitcoin is growing in price.
When users began mining Bitcoin on laptops in 2009, it had little value. Yet, today one Bitcoin can be exchanged for $30,000! Around 2020, billions of Dollars of institutional money began to flow into cryptocurrency investment. People world-wide have been converting dollars to bitcoins for years.
Examples of Institutional Money Investments in Bitcoin (converting dollars to bitcoins):
- ARK Investment Management and Kinetic Portfolios Trust, two large investment funds representing wealthy clients, have begun investing in the Grayscale Bitcoin Trust.
- Wall Street billionaire investor Paul Tudor Jones has invested approximately 2% of his investment portfolio in Bitcoin
- Michael Saylor, Founder and CEO of MicroStrategy invested over $400 Million in Bitcoin in 2020.
- Twitter/Square CEO Jack Dorsey invested $50 Million in October 2020 in Bitcoin.
- PayPal announced on October 21, 2020 that it would be launching a cryptocurrency service that allows users to buy and sell cryptocurrencies.
Upside of Owning Cryptocurrency
Owning Cryptocurrencies Requires Belief That They Will Save A Failing System
Owning cryptocurrencies requires that you have a future vision that is radically different than our current banking system. In addition, cryptocurrency is inherently risky and volatile for investors. However, many believe that cryptocurrency investment is a vote for monetary freedom and independence from governments.
Bitcoin doesn’t require using a bank; the bitcoin holder is the bank. Making border-less payments between friends became easier and more private. In addition, Bitcoin is deflationary, with only 21 million Bitcoins available for use. And, if you are starting to have doubts about government money printing and overspending, then Bitcoin is an obvious candidate for safe haven status.
It seems clear that Bitcoin will continue expansion and adoption. As a result, Bitcoin’s price will likely go much, much higher. In fact, record numbers of investors are investing in bitcoin.
Anthony Pompliano and Max Keiser, two well-known investors in the Bitcoin space believe that Bitcoin price will exceed $100,000 in the next few years. Investors like Mike Novogratz and Chamath Palihapitiya believe Bitcoin price will go higher. In fact, their predictions are $400,000 and $1,000,000, respectively. The investors mentioned are millionaires and billionaires. They clearly understand money and markets. As a result, their predictions are very serious.
Wrap Up of How to get 1 Bitcoin Fast
Hopefully this article has helped you better understand bitcoin, cryptocurrencies and how to get 1 Bitcoin fast. Several exchanges buy and sell cryptocurrency. Binance, Gemini, Kraken, Coinbase and so many more. Moreover, please do your research if you decide to move forward with cryptocurrency investment. There are many scams in the crypto industry that are searching for an easy mark. Finally, if you want to learn more about Bitcoin and cryptocurrency, one place to start might be Investopedia.
It is important to note that Piggy Bank Coins does not provide financial advice. We don’t endorse or recommend any financial investments. Instead, we provide information for educational purposes to those seeking knowledge regarding personal finance. However, in the spirit of transparency, note that the author is an investor in cryptocurrencies, precious metals and some equities.
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