I’ve been told the best way to make money is via Bitcoin, which I understand is the most likely to be your main revenue source.
However, in order to secure a significant sum of BTC, you can also take a hit, such as having someone else send you a certain amount of Bitcoins.
When you first start making money by selling Bitcoins through CoinJar, they make you pay the same 1% processing fee per transaction. This is not a huge amount of money, but to make a solid bit of money within Bitcoin, you’ll need a couple of bitcoin wallets so you can store your earnings.
Your first batch of Bitcoin will not be spent directly, but they will have to be taken out somewhere before the coin reaches you or they’re worthless.
What kind of Bitcoins do you pay to receive?
Since you’re taking a cut of people’s Bitcoins, you’re also going to have to pay a pretty high processing fee (10%, 15%, 20% in some countries) for what are, in essence, one-off payments.
This will be set by the exchange rate you use for trading. This exchange rate could also be set by people and your wallet provider which will affect what percentage of the profit you make in this business.
This is what I recommend using in places I currently trade Bitcoin:
US Dollar (or Australian Dollar) – 10%
€ – 15%
£ – 20%
The main reason to use Bitcoin for purchasing Bitcoins is because you know there will be an exchange rate, which will allow you to earn a pretty good margin, usually between 0.75 and 1%.
If you’re using this exchange rate, you don’t need to sell any Bitcoins you’ve sold at the time of the order. I normally sell about 20% of these to secure a profit. I can sell up to 200% profit on a batch every few weeks on CoinJar.
I believe the best way to get a steady 10-20% profit is to sell Bitcoins on CoinJar each time someone makes a purchase. So, if you sell 30-50 Bitcoins per month on CoinJar, you should earn somewhere in the region of 10-70 Bitcoins per year in Bitcoins from these sales.
Here are an example how to do it:
Buy Bitcoins on CoinJar and sell them at the end of the month.
This time you’ll only receive a certain percentage of the BTC you sold on Coin
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