My desire to seek knowledge about Bitcoin, the new digital currency, kept me probing for more answers, as I stared at the Google results on my computer.
The new phenomenon was not available in the standard dictionary in the year 2008, when Satoshi Nakamoto, who introduced the new digital money, unveiled the mysterious currency as "Bitcoin."
The inventor maintains that the digital currency will aid anonymous transactions, without a third party or bank getting involved. It also uses mathematical algorithms to process transactions, does not need a central bank, and maintains its capitalized distribution at a benchmark of 21 Million BTC.
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The excitement of discovering the new digital currency at a point when I was bored with my job, gave me hope and comfort. I believed back then that the new currency developed on blockchain technology holds a good future for me. I continued to research deeper until I learned entirely how it works, including how to safely store it in a verified wallet, using Two-Factor Authentication and a trusted bitcoin wallet service provider.
I did not have to wait further to start the registration process on Remitano.com. I considered this as the best option after reading credible crypto-exchange review sites on the internet, which gave the company +A5 ratings for readers' enlightenment. I took the steps outlined below to register and verify my new account, which is a standard requirement for making use of the Remitano trading platform.
I submitted a scanned copy of the government-issued IDs as requested, through the verification link sent to my email account.
Though unfortunately, the quest to get my first Bitcoin was soon nipped in the bud after I opened a verified Bitcoin account with Remitano.com in July 2017.
The failure was due to insufficient knowledge of how a peer-to-peer exchange operates. The challenge led me to an extensive study of the working modalities of Remitano trading platform.
Eventually, I learned how to trade Fiat currency (NGN) in exchange for Bitcoin (BTC). After passing through the jittery stage of trade initiation, I was able to pay the paired BTC vendor correctly within the system regulated timing.
I received my first ever bought bitcoin into my Remitano wallet address at the cost of 18,982.28 NGN for 0.00667 BTC.
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Although the initial feeling was a mixed emotion of thrill and anxiety as I made my first trial purchase, it later turned out to be exciting! I was still undecided about what I should do with my Bitcoins. I checked my Bitcoin wallet after eight days and found out that the value of my acquired 0.00667 BTC had appreciated to 23,680.14 NGN.
This memorable experience of making a profit of 4,697.72 NGN kept me wondering. I pondered on the unexplainable leverage that the blockchain technology had brought to me, at the moment of my greatest desire for financial prosperity.
Of course, making easy but cheap 24.74% returns on my capital within a relatively short time in a self-indulgent task motivated me the more to seek unlimited earnings streams embedded in the cryptocurrency ecosystem.
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The desire to make good money steadily from the cryptocurrency pursuits was growing in me like wildfire until I came across another wallet provider that showcased a write up about crypto airdrop. "What is an airdrop?" I muttered from my lips! I found out it means cryptocurrency gifted without any strings attached. Exciting news, indeed! I nodded because I fully understood that I will not incur any expense to benefit from the airdrop.
Alas! I got so fortunate to get a free airdrop on Localbitcoin after opening a verified account with the exchange. I will not tell you what I used the money to do. I got my first Bitcoin airdrop free of charge!
Despite the progress made at improving my earning streams from cryptocurrency, I still needed to close the gap between my job salary and earnings from crypto. The potential and leverage that I saw in the system further exposed me to a site that paid CLAM COINS for participating in advertising tasks.
A qualifying milestone was used to release payout for players who successfully attain a threshold. They were rewarded with CLAM COINS, for possible swap to bitcoin on Bittrex exchange. Although the task did not worth the time spent to get the small payout, nevertheless, I succeeded in earning some bitcoin units.
Gradually, I got burned out from taking endless tasks that were only paying peanuts regardless of the time of accomplishment. Somehow, I found another way out in free crypto-based ICO launching across the internet. The ICO's free tokens giveaways were much easier to get than Altcoin Airdrop, which required an element of luck.
I participated in a good number of ICOs. I had proper credits for a few tasks, ranging from liking Facebook fan's page and new App review, among others. Thanks to Token exchanges that enabled the conversion of the free tokens to bitcoin whenever the launching companies enlisted them for redemption. I have wondered several times how I was able to exchange my ICO tokens to bitcoin on Latoken exchange.
Many of the Tokens from ICOs at the time launch were usually less valuable. It often takes years for some to gain enviable values. Therefore, I felt there was no better way to make good money in ICOs than by investing huge money, in anticipation of an increase in price.
In my further search, I found out about a Bitcoin mining site that was paying out a 20% ROI fortnightly on capital invested in it. This discovery seemed like my financial haven was near realization. I decided to invest $20 in the scheme to verify the authenticity of the claim before investing huge money into it.
The site dazzled me with a surprise by paying exactly at the matured date, and that rekindled my relentless hope in the cryptocurrency as a means of sustainable livelihood. My first experience for earning bitcoin on mining investment was very palatable, notwithstanding the high-risk involved. Still, the lack of guarantee was a threat that I considered, which made me seek another way of earning cryptos.
Over time, I discovered binary options trading but would not engage with it for long, because a friend told me to try Forex trading instead. Later on, I concluded that they were both too technical and risky as there were no guarantees for earning. I arrived at that conclusion after I had invested so much in books, time, and money.
My plan for a sustainable blockchain business became promising when I started to understand the Modus Operandi of peer-to-peer trading on Remitano.com. Words would not express how happy I was to have come across this method of trading that could guarantee consistent earnings at flexible engagement. I started making a strong effort to raise quality capital by applying for a crypto loan at Bitbond and Nexo.
After the two crypto lending companies turned down my loan requests, I found solace with a relative who gave out a low-interest loan to start on Remitano.com with a capital of 1 BTC.
There are so many factors, among other criteria that made me choose Remitano.com. I made this decision after running my backtesting and due diligence study in the key indicating factors shown in the analytical table below.
I came across a key performance indicator on a review website that showed that Remitano.com has the most excellent customer care system. They also resolve disputes instantly, provides top-notch escrow and security features on their hot wallets. Their fees are low, and transactions on the platform are processed at lightning speeds!
Remitano.com has no history of system hacking or bad reputation until date. Also, they focus on cryptocurrency trading and related events. This focus makes their trading interface easy to understand for newbies, compared to others that integrate Option trading, Forex, CFD's, Stock, Margin trading, etc., to their trading platform.
These highlights explain why Remitano.com is the best peer-to-peer platform that provides system improvement, positive app trading experience, and commitment to excellent service delivery at all times.
At this junction, I would like to showcase how I made my first major profit, trading bitcoin with the loan acquired from my relative. All I needed to do was to fund my Remitano wallet with 1 BTC and then opened my first position with half of a BTC.
The end justifies the means! The second tranche of 0.5 BTC was later sold for 1,682,830.15 NGN successfully. Consequently, total turnover realized was 3,245,594.65 NGN, which gave me a profit of 413,464.15 NGN after deducting 2,832,130.50 NGN as loan borrowed to trade. The gain of 14.59% gotten from the trade was my first sustainable Bitcoin profit received.
The introduction of Bitcoin in 2008 generated a lot of controversy and resistance from the government institutions, which lead to the ban of cryptocurrencies operations in China, Russia, Vietnam, Bolivia, Columbia, Ecuador, and others.
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Nevertheless, Countries like the USA, Canada, Australia, European Union, Belgium, Cyprus, the United Kingdom, Bulgaria, Germany, and others have embraced bitcoin while working modalities for proper adoption.
More profound to be added to the great achievement of the blockchain ecosystem is the acceptance of bitcoin as means of trade settlement by large enterprises like Dish Network in the USA (DISH), Microsoft store, Overstock.com (OSTK) USA, Amazon, DELL, Kentucky Fried Chicken (KFC) and a whole lot of others.
In conclusion, the past summit of the G20 nations on the development of an adequate regulatory framework for the adoption of blockchain technology and cryptocurrencies have started producing positive results. The EU countries have commenced crypto regulations as mandated by new directive, Germany plans to issue crypto regulations this year, the new Russian Prime Minister seems Bitcoin-friendly, China is issuing bonds on blockchain, and the US Treasury to will be completing a PoC of blockchain-based grants payment system.
The bottom line of my take is that Bitcoin revolution and other Altcoins innovations have come to stay! With the global adoption in view, there shall be robust and unlimited dynamics in the way the world will be making use of Bitcoin, just as I had rich experience on how I got my first Bitcoin.
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