POLi is an australian payment method that makes paying with your bank account super easy and fast.
One of the biggest problems with wire/bank transfers are their speed. They can take up to a week to clear. By the time the money lands in your exchange account, the price of Bitcoin may have changed dramatically. So it’s not very useful for purchasing Bitcoin.
POLi on the other hand is very different. They make payments using your bank account happen instantly! As a fully owned subsidiary of Australia Post they are a trusted and well supported option for online payments.
Time for a monthly roundup of the cryptocurrencies that I’ve been investing in this month. As always, don’t take the following as investment advice.
Navcoin is an interesting currency. It uses on proof-of-stake and pays interest on the coins you hold in your wallet. This month its performed really well off the back of good progress being made on the platform.
Verge is an anonymous cryptocurrency. Personally, I’m not too concerned with privacy, but I know many people are and are willing to pay for privacy. So I believe there is significant value in a coin that offers privacy. Nav Coin also allows private transactions, but it isn’t the sole focus of that coin.
I was really impressed by the development community of Verge with lots of libraries and support for various programming languages. I’m quite bullish on where this coin could go so I invested for the first time in Verge this month.
Most of the headlines this month have been about Bitcoin. No surprise – it’s had a pretty amazing month. Bitcoin is a regular investment for me and I see it as a powerful store of wealth.
My biggest holding is in Ethereum. I love Ethereum as a platform and it has huge potential to go mainstream. Ethereum is a regular investment for me. It has had a mega year this year, and my outlook is bullish over the coming 12 months.
I use Litecoin as an actual currency. It’s so much cheaper and faster than bitcoin. So as I use it, it makes sense that I invest in it as well. Just like Ethereum and Bitcoin its a regular investment for me.
Did you know you can trade Bitcoin CFDs? A CFD (contract for difference) lets you profit when the price of the underlying asset moves. In this case the underlying asset is bitcoin.
Investors have been trading stock and commodity CFDs for a long time, but only recently have digital currencies been made available for this financial product.
Trading a CFD is much like trading the actual asset. CFDs offer a couple of extra advantages such as being able to sell or short an asset and trade using leverage.
As of writing this post, Bitcoin is sitting at around the $2.5k mark. And now more and more people are buying into Bitcoin as an investment.
Now I can’t say whether or not the price of Bitcoin will continue to rise. Some people believe it will reach $1 million due to the limited amount, others believe the opposite. But I do think it’s an interesting investment opportunity. High risk, but potentially high reward.
You may be looking to just buy a small amount for the fun, or you might be looking at taking a larger position as an investment. So I thought I would share with you what I believe is the easiest way to buy bitcoin online.
Buying Bitcoin through Coinbase
In my opinion the easiest way to buy bitcoin online is through Coinbase. They’re one of the few bitcoin sellers who accept credit card deposits and they are available in multiple countries around the world.
Registration and verification was painless and only took me a few minutes and I had made my first digital currency purchase within around 10 minutes!
Coinbase has a maximum amount you can purchase on a weekly basis, but this should be fine for most first time buyers.
Storing your Bitcoin
You can store your bitcoin in an online wallet such as coinbase, but you might also want to store it yourself. If you have a large bitcoin investment, it’s best not to store it in an online or cloud based wallet as you run the risk of that service shutting down.