Blog Archives - CypherSafe

Bitcoin Hardware Wallets

Welcome back, I’m Kathleen Bitcoin. I’m 20 years old, new to the bitcoin world, and here to write on the current hot topics in bitcoin while I learn about it along the way.

Last week I talked about how I came into the bitcoin world. This week I’m talking about hardware wallets. Why? Because now that I’ve started actually obtaining bitcoin since learning about it, it’s spread out between CashApp and Swan, and I need somewhere to store it.

In a previous post, I mentioned protecting your bitcoin with a hardware wallet. This is important for everyone who’s accumulated bitcoin, new and old. A hardware wallet allows you to transfer your bitcoin from one place to another, send and receive bitcoin, and pay with it; all by plugging it right into your computer. Your bitcoin can trade straight from your wallet rather than being deposited to an exchange wallet. That saves you time by skipping deposit delays and fees from withdrawal limits.

To make it a bit confusing, the bitcoin itself isn’t stored on the wallet, it’s always stored on the blockchain (see previous post “Bitcoin Blockchain”). The hardware wallet just stores your private key (see previous post “Beginners Guide to Bitcoin”). That private key opens the lock to your address on the blockchain where your bitcoin actually lives. Since the blockchain is everywhere, all you need is your hardware wallet to interact with your bitcoin.

Hardware wallets are super secure, too. They keep your bitcoin safe even when the computer you’re using isn’t secure. They give you added protection against scammers, phishing sites, and malware. It does this by isolating your private key from the internet so you can be protected from an online attack. Another pro to owning a hardware wallet is that when you create a blockchain transaction (by purchasing, selling, or receiving bitcoin), you’re “signing” a special message. Your “signature” proves the ownership of your private key. It’s impossible to forge this signature without your key, so no one else can make a transaction for you without it. Software wallets do the same thing.

Your private keys stored on the hardware wallet are protected by a PIN and a passphrase, which is optional but highly suggested. If someone were to steal your hardware wallet, it’s almost impossible for them to take your keys. The keys are never exposed to the internet so they can’t be stolen. That’s why it’s known as cold storage.

If you lose your wallet, your bitcoin is backed up with a seed phrase. A seed phrase, also known as a recovery phrase, is a list of words that re-generate your private key. You can use your seed phrase to move your keys to a different hardware wallet.

But what if your wallet gets destroyed? You lose your bitcoin and your seed words. You can’t always protect it from getting destroyed, just like my Dad couldn’t stop our dog from eating his. So what do you do? You buy a CypherWheel to protect your seed words! The CypherWheel is a unique way to store your seed words or other sensitive information. Machined from 5/16″ thick 303 Stainless Steel, not stamped out from thin 1/16″ metal. Protects your seed words from physical disaster and bad dogs! With an added level of locking protection, this bitcoin wallet keeps your confidential information safe from prying eyes.

Here are a few wallets to check out if you’re interested: Passport, Trezor, Ledger, Cold Card.

If you want to start Dollar Cost Averaging your way into buying bitcoin, use our link and start your plan today to get $10 of free bitcoin dropped into your account: https://www.swanbitcoin.com/CypherSafe/!

And don’t forget to protect it with a CypherWheel!

Thanks again,

Kathleen Bitcoin

Twitter: @KathleenBitcoin

Why Bitcoin Supply is Capped at 21 Million

Welcome back, I’m Kathleen Bitcoin. I’m 20 years old, new to the bitcoin world, and here to write on the current hot topics in bitcoin while I learn about it along the way.

If you didn’t know, there can only ever be 21 million bitcoin in existence. Let’s talk about why that is.

I should say that no one really knows the exact reason Satoshi Nakamoto picked 21 million when he (or she) was creating the currency, but there are some guesses as to why. One of them being, to hold value. Bitcoin’s limited supply is a huge advantage. It keeps the cryptocurrency scarce, theoretically ensuring that its value holds steady for years to come. Meaning, if it can run out, the more people will want it. Which means it increases in value. Just like gold or silver, etc. By maxing the supply, and slowing the rate new bitcoin come into existence (by being mined), they intended for each individual bitcoin to appreciate in value over time.

Another guess is that Satoshi was trying to make it become the single world currency. At the time it was being created, the entire world’s money supply was approximately $21 trillion. This number (known as the M1 money supply) is made up of the total value of all the physical money in the world. If bitcoin were to replace all the currencies that the M1 figure is made up of, then each bitcoin would be worth $1 million. Because there are 100 million satoshi in each bitcoin, this would make the value of each satoshi at $0.01. This theory may seem a bit far-fetched, but it also seems a little too intentional to be a coincidence.

So what happens after all 21 million are mined? Well, once bitcoin miners have unlocked every bitcoin, the supply will essentially be tapped out. While there can only ever be a max of 21 million, because people have lost their private keys or have died without leaving their private key instructions to anybody, the actual amount of available bitcoin in circulation could actually be much less. Like millions less. Which sucks big time. Currently, around 18.5 million bitcoin have been mined; this leaves less than three million that have yet to be introduced into circulation, not counting the situations just mentioned.

Once all bitcoin has been mined, the miners will still have incentive to process transactions with fees because every bitcoin transaction has a transaction fee attached to it, and said fees are roughly a few hundred per block (see “Bitcoin Blockchain”) now, but in the future they could be worth a couple thousand. Ultimately, it will function like a closed economy, where transaction fees are assessed much like taxes.

And don’t forget to protect it with a CypherWheel!
Thanks again,
Kathleen Bitcoin
Twitter: @KathleenBitcoin

Some Bitcoin Podcasts

Welcome back, I’m Kathleen Bitcoin. I’m 20 years old, new to the bitcoin world, and here to write on the current hot topics in bitcoin while I learn about it along the way.

This week I’m just going to give you a list of a few podcasts on bitcoin to listen to.

Let’s start with…

The Stephan Livera Podcast by Stephan Livera, sponsored by CypherSafe!

Description: “Join Stephan as he interviews the sharpest economic and technical minds in Bitcoin & Austrian Economics to help you understand how money is changing and evolving. This is one of the leading podcasts in the space, and listening to this show is one of the fastest ways to learn and get up to speed on Bitcoin.

The What Bitcoin Did Podcast by Peter McCormack

Description: “Bitcoin & Crypto Trading, Strategy, Business and Mining”

The Bitcoin Standard Podcast by Dr. Saifedean Ammous

Description: “Saifedean’s The Bitcoin Standard Podcast is the place to discuss Bitcoin and economics from the Austrian school’s perspective. Listen to the weekly saifedean.com discussion seminar, where a group of learners from all over the world discuss the website’s online courses, as well as a wide variety of economic, political, and social issues, and occasionally host special guests for the discussion. The podcast also includes the most interesting interviews conducted with Saifedean on other shows.”

Note: CypherSafe is now part of Saifdean’s Bitcoin Standard Toolkit!

4 Minute Bitcoin Daily News by Gary Leland

Description: “Hall of Fame podcaster Gary Leland produces these short news updates about Bitcoin to help keep you up to date with this ever changing world. Get your daily dose of Bitcoin news every week day in 4 minutes or less on the 4 Minute Bitcoin Show.”

Note: Gary Leland is also the host of the BitBlockBoom Conference in Dallas every year, that CypherSafe attends.

Crypto Cousins by Gary Leland

Description: Crypto Cousins was founded in 2017. I felt there was a need for people to understand how cryptocurrency worked.
I like to say that “we are all cousins in crypto”. This development helps the individual take full responsibility for their money — and comes with both risks and benefits.

These are obviously just a few, but good ones to follow. That’s all for this week!

And don’t forget to protect it with a CypherWheel!

Thanks again,
Kathleen Bitcoin
Twitter: @KathleenBitcoin

Tesla buys Bitcoin

Welcome back, I’m Kathleen Bitcoin. I’m 20 years old, new to the bitcoin world, and here to write on the current hot topics in bitcoin while I learn about it along the way.

It’s been a bit since this happened, but I figured I’d talk about it anyway. Recently, Tesla purchased $1.5 billion worth of bitcoin.

They said they bought it for “more flexibility to further diversify and maximize returns on our cash.” They also said they would be accepting bitcoin as a form of payment soon, though initially on a limited basis. Tesla is the first major auto company to do this!

Because of this big move, bitcoin’s prices jacked up to $44,200, now $48,850 (2/25/21); and we have Elon Musk to thank for that. He also has been posting many tweets about bitcoin on Twitter and added the hashtag #bitcoin to his bio. This was before his company bought $1.5 billion in bitcoin, but even just doing that caused the prices to rise a bit as well. He has a big influence and a big audience, and because of this, he has caused bitcoin to rise in its worth!

Elon Musk also decided to buy bitcoin because of an exchange he had with MicroStrategy CEO Michael Saylor, who in December announced his company had accumulated $1.3 billion worth of bitcoin.

Side note, Michael Saylor has another company, Saylor Academy, that offers free classes. I’m taking Pre-College English right now, and highly recommend you look into it if interested.

There’s a lot of debate on whether this was a smart move or not for the company, what with bitcoin changing in price. Right now, it’s on track to keep going up, but that doesn’t mean things can’t change, and that’s what the question stems from. Only time will tell, though! And for everyone else that owns bitcoin, they’re extremely pleased with the purchase because now their bitcoin is worth more!

And don’t forget to protect it with a CypherWheel! Now in Saifedean Ammous’ Bitcoin Standard Toolkit!

Buying bitcoin made easy with LibertyX! Download the app to find nearby locations so you can buy bitcoin in minutes.

Thanks again,
Kathleen Bitcoin
Twitter: @KathleenBitcoin

How I came into the Bitcoin World

Welcome back, I’m Kathleen Bitcoin. I’m 20 years old, new to the bitcoin world, and here to write on the current hot topics in bitcoin while I learn about it along the way.

Today I’d like to talk about how I came into the bitcoin world.

Too Young

A few years back my Dad started talking about bitcoin to us kids. I was way too young to even care about it or have any interest. So up until now, I really didn’t have a clue as to what is was, besides that it was a form of online currency. That’s about it. But throughout all these years, he’s continued to talk about it, and I’d kind of brush it off like “there goes my Dad again, talking about bitcoin… again”. To a teenage girl, it’s just one more thing your Dad is talking into your ear about, that you don’t really have a bit of interest in. So I never really listened. But I did know that every time I made a comment on him talking about it all the time, he’d say, “well bitcoin is your inheritance”, and that kind of shut me up. Not because I realized “oh, this might actually mean something”, but because I didn’t want to upset him that I didn’t get why he’d make this online currency that nobody really used our inheritance. I didn’t get it.

New Idea

But fast forward a few years, and I’m working for him at the family business to save money for a big change in my life. The year before, he had gone to a bitcoin conference to promote this product he’d made related to bitcoin; but that year, he hadn’t been able to actually bring the product to the conference because it hadn’t been quite ready. This year he was able to. You might be able to guess what it is, but if not: the CypherWheel! If you don’t know the background, our family dog, Archie, chewed up my Dad’s Trezor. At the time, I clearly had no idea what it was or what it did. I just know that he was very upset about it, and that’s what started the idea for the CypherWheel; but he was proud of it. So no, I really had no clue what it was, but I was happy for him and I cheered him on anyway.

Going back to working with my Dad. I was really doing odd jobs that needed to be done around the place that no one had time for or really wanted to do (lol), but when I wanted a break from that, I’d help my Dad make the CypherWheels for the upcoming conference. Still not knowing what it did, I helped anyway because it was fun, running the machine.

Real Savings

Now fast forward another eight months or so, and I’d gone through with the big life change, moving across the country! My Dad came to visit and had all us kids make an account with Swan Bitcoin (see previous post). I’m a few years older now since he first started talking about bitcoin, and no longer a moody teenage girl, so I actually listened to what he had to say. And that’s how I ended up here, making these blogs about bitcoin as I learn more about it! It took a few years, but he finally got me to listen, and now I’m putting money towards bitcoin every month so I can save for the future!

But, I kind of have my bitcoin spread out and unprotected across Swan and CashApp, so can you guess what next week’s post it about? You got it! Hardware wallets.

And don’t forget to protect it with a CypherWheel!

Thanks again,

Kathleen Bitcoin

Twitter: @KathleenBitcoin

Blockchain – Why Bitcoin Works

Welcome back, I’m Kathleen Bitcoin. I’m 20 years old, new to the bitcoin world, and here to write on the current hot topics in bitcoin while I learn about it along the way.

So, all this talk about the blockchain, but what is it really? We know the basics, but let’s dive deeper.

Blockchain

The blockchain is different from a typical database because of “the way the data is structured. A blockchain collects information together in groups, also known as blocks, that hold sets of information. Blocks have certain storage capacities and, when filled, are chained onto the previously filled block, forming a chain of data known as the ‘blockchain’. All new information that follows that freshly added block is compiled into a newly formed block that will then also be added to the chain once filled” (Conway, Luke. “Blockchain Explained.” Investopedia, Investopedia, 17 Nov. 2020, www.investopedia.com/terms/b/blockchain.asp). Using this system makes an irreversible timeline of data. When a block is filled it is set in stone and becomes a part of said timeline. Each block in the chain is given an exact timestamp when it is added to the chain.

In a blockchain, each node, or computer, has a full record of the data that’s been stored on it since it was formed. With bitcoin, the data is an entire history of all of its transactions, ever. If one computer has an error, it can use any and all of other nodes to correct itself. This way, no one node can change information held within it. Because of this, the transaction history in each block that makes up bitcoin’s blockchain is irreversible. In this case, if someone attempted to tamper with the transaction history in any way, the blockchain would just use the other nodes to correct itself!

Decentralization

If we’re going to talk about the blockchain, we need to talk about its decentralization. With any old database, it can all be done on a group of computers under one roof, but when it comes to bitcoin, it takes several and they are all operated by separate individuals; which is why it’s decentralized, because it’s not controlled by any one person. This is great, because it offers every single user an opportunity to become one of the network’s many payment processors.

Pros and Cons

Let’s talk Pros and Cons. Pros first: More accuracy by relying on computers to do the work; decentralization stops tampering; transactions are secure and efficient. The list could go on. Now onto cons: higher technology cost from mining; low transactions per second, In all honesty, the pros clearly outweigh the cons to using a blockchain as a way of tracking bitcoin transactions.

And don’t forget to protect it with a CypherWheel!
Thanks again,
Kathleen Bitcoin
Twitter: @KathleenBitcoin

CypherSafe Adds LibertyX Bitcoin ATM

Welcome back, I’m Kathleen Bitcoin. I’m 20 years old, new to the bitcoin world, and here to write on the current hot topics in bitcoin while I learn about it along the way.

Today I’m here to talk about LibertyX!

They offer an app and a service that you can install into regular, everyday ATMs so that you can buy bitcoin. In order to do so, you have to download their app and make an account with them to buy the bitcoin. Finding ATM locations is made easy through the app as well.

LibertyX is America’s first and largest network of Bitcoin ATMs, cashiers, and kiosks. We’re here to talk specifically about their ATMs, though. Why? CypherSafe decided to install an ATM at Canyon Networks in Newport, Maine.

CypherSafe did it mostly as a learning experience. They said the people at LibertyX have been super helpful and friendly. So if you’re thinking of doing it, absolutely reach out to them!

There’s now roughly 9,500 LibertyX ATMs across the country. You might be surprised how close they are to you! When using the ATMs, there’s a service charge that varies from ATM to ATM; that’s typical with any ATM, though. They are also debit card only, no credit card. But you can buy up to $1400. You can also increase your daily purchasing limit to $3000 by providing additional information.

Their goal is to make purchasing bitcoin as simple and familiar as possible. This is another way to buy bitcoin, like the Dollar Cost Averaging method with a website like Swan, in an easy way.

Here’s how the process of buying the bitcoin via the ATM actually works…

Select “Start purchase” and paste your bitcoin wallet address (or scan its QR code)
Select the store location you wish to purchase at and select buy bitcoin here
Your 6-digit order number will be displayed in a green box on the LibertyX app.
Enter that order number into the ATM, and finalize payment. When payment is confirmed, the bitcoin is sent to the wallet address you provided in Step 1.

And don’t forget to protect it with a CypherWheel! Now in Saifedean Ammous’ Bitcoin Standard Toolkit !

Buying bitcoin made easy with LibertyX! Download the app to find nearby locations so you can buy bitcoin in minutes.

Thanks again,
Kathleen Bitcoin
Twitter: @KathleenBitcoin

Another way to earn Bitcoin – The Fold App

Welcome back, I’m Kathleen Bitcoin. I’m 20 years old, new to the bitcoin world, and here to write on the current hot topics in bitcoin while I learn about it along the way.

This post is going to be on the Fold app! Which is a great new app that rewards you in bitcoin every time you spend. With this comes the very first bitcoin rewards card that gives you free bitcoin every time you use it. Right now, you have to join a waitlist to get the card, but it’s worth the wait. Why? Let me tell you… 5% Amazon rewards, 10% High Yield rewards (the interest rate or percentage reward), $50 bitcoin deposit bonus, and a chance to win 1 bitcoin on every purchase. Now, with the app, you get a free spin everyday, or you can pay to get another. My Dad and I make sure to log on and use our free spin everyday, and we’ve been stacking up some coin. When it comes to the prizes, there’s a chance to win free SATs, spending boosts, a Fold gift card boost, 100x referral match, 4x deposit match, 1 bitcoin bonus, etc. Mind you, they change up the prizes on the wheel, but there’s almost always free SATs, which is the best part about it! I love this because then I can save some bitcoin without even really trying, or having to buy it. And if you get the credit card, you get 3% average spin rewards on every purchase.

Another one of my favorite things about this is that it allows you to buy gift cards to your favorite stores and brands via the app and get bitcoin back when you use them in-store. You can buy gift cards to places like Amazon, L.L. Bean, Hotels.com, Dunkin Donuts, Starbucks, Delta Airlines, Uber, Ulta, Sephora, Olive Garden, and much, much more! This is great for gift-giving because then you get something out of it too (haha).

I also love the data privacy. There is no requirement for users to share any personal information when creating an account or making a purchase. You don’t have to share your address or anything. And, they have immediate reward payout. They distribute bitcoin rewards to the user’s account as soon as each gift card purchase is processed. There’s also no minimum payout.

Fold also has a great referral program, in that both you and your friends get 20,000 Satoshis when you refer them to the app. Your odds of receiving the Visa also increase as you refer more people.

Downloading this app and using the new Fold Visa, which hasn’t been released yet, is a great way for new and old bitcoiners to rack up some coin with everyday purchases, gift cards to your favorite stores and restaurants, and a daily spin. Just don’t forget to cash out your bitcoin with your hardware wallet.

Want Fold merch? You’re in luck, they sell that on the app, too!

And don’t forget to protect it with a CypherWheel!

Thanks again,

Kathleen Bitcoin

Twitter: @KathleenBitcoin

All trademarks and trade names are copyright their respective owners.

What is Bitcoin?

Welcome back, I’m Kathleen Bitcoin. I’m 20 years old, new to the bitcoin world, and here to write on the current hot topics in bitcoin while I learn about it along the way.

This post is going to be for the newbies like me in the bitcoin community: I’ve created a Beginner’s Guide to Bitcoin. Just the basics.

What is bitcoin?

Bitcoin is digital money with secure transactions on the internet. There is no physical currency of bitcoin. “Bitcoins themselves are not files stored on your computer’s hard drive like MP3s or PDFs. Rather ‘owning bitcoins’, means owning a bitcoin address, which has a balance recorded on the blockchain” (“What Is Bitcoin?” Coinbase, 6 May 2020, www.coinbase.com). Unlike governmental currencies like the dollar, bitcoin allows online transfers without a bank or payment processor. Removing them from the equation creates a whole range of new possibilities, like the ability for money to move around the internet faster and cheaper, along with allowing people to have maximum control over their own assets. Some places are slowly accepting bitcoin as a form of payment.

What is the bitcoin blockchain?

The bitcoin blockchain is similar to a bank ledger, so a record of every transaction made using bitcoin. At a bank, it’s a log of your funds going in and out. That’s private, for obvious reasons. But what’s different about the blockchain is that it’s public, and can be downloaded by anyone. However your address is private unless you share it with someone. So what’s the use for a public record like this? Those in the bitcoin community use it to trace and verify the direction of bitcoins from one transaction to the next. In the beginning, an everyday computer was strong enough to secure the transactions of bitcoin on the blockchain, now it takes specialized computers called ‘mining rigs’. You can purchase these and get bitcoin back in return for mining. This only happens every 10 minutes, and only one miner is chosen. The amount of bitcoin rewarded changes, too.

Can bitcoin be inflated?

No, and there also will only ever be 21 million bitcoin in existence.

Why buy bitcoin?

I asked the same thing. When you don’t really understand what bitcoin is, knowing it’s a form of currency, it’s hard to understand why you have to buy it instead of buying things with it. Although, once you buy it, you can buy with it. You can also compare buying bitcoin to buying gold.

How much does bitcoin cost?

The price never stays the same, just like the price of gold or silver never stays the same.

Do I have to buy a whole bitcoin?

No, you can buy a half, or a quarter, or a whole. Your choice. You can buy as little as .00000001 of a bitcoin!

How do I buy Bitcoin?

Typically, you can buy bitcoin through an online exchange, like Swan. Check out my previous post on how to use their program. They make it easy to buy, (on other exchanges you can also sell, like Kraken), and store bitcoin using something called public and private keys. But, if you decide to buy, send, or receive bitcoin outside of a program like Swan, then you will be need a public key to access it. Think of a public key like an access code. Anyone can send to you using it, but only you can access all that you own with your private key.

What are Public and Private Keys?

A public key is a long string of letters and numbers that is sort of like an email address. A private key, also a long string of letters and numbers, is similar to a password.

Where do I Store my Bitcoin?

A hardware wallet, like a Trezor, which is an electronic device that can be plugged into your computer. This allows transferring bitcoin from one account to another, sending, selling, receiving, and storing it. The wallet also has something called seed words to backup your wallet. They’re like passwords.

How can I Protect my Seed Words from being Lost or Stolen?

CypherSafe makes Stainless Steel Seed Word Backup Devices. When you setup your wallet (like a Trezor), it asks you to write down the 24 seed words to back it up. But words written on paper are vulnerable to physical damage. Since those seeds words are essentially your bitcoin, you want to protect them as much as possible. A CypherWheel by CypherSafe puts those words in a nigh-indestructible form. By storing them in Stainless Steel.

Can I invest in bitcoin?

Yes, and just like with stocks, gold, silver, etc., be aware that price is volatile and can go up or down. It’s also a good way to save and invest for a car, or a future house.

How do you use bitcoin?

It’s very similar to using a debit card, but only online, and instead of being asked for card information like the card number, expiration date, and CCV, you’re asked to provide the public key and the amount of bitcoin. A benefit of this is the limit of personal information required for the transaction to be completed.

Here are a few commonly used acronyms for the newbies:

1. BTC = bitcoin

2. Sat = Satoshi = 1/100,000,000 of a BTC

3. SoV = store of value

4. MoE = means of exchange

5. Fiat = government money (USD, Euro, etc.)

And don’t forget to protect it with a CypherWheel!

Thanks again,

Kathleen Bitcoin

Twitter: @KathleenBitcoin

Dollar Cost Averaging (BTCDCA)

Hi, I’m Kathleen. I’m 20 years old, new to the bitcoin world, and here to write on the current hot topics in bitcoin while I learn about it along the way. First up, Dollar Cost Averaging.

Timing the market for buying bitcoin can not only be extremely difficult, but stressful. There will never be a perfect time, nor will you (most likely) have the finances to buy a whole bitcoin at once. This is where Dollar Cost Averaging Bitcoin (BTCDCA) comes into play, which averages the purchase price of your bitcoin over time by automatically buying bitcoin for you with the American dollar, and transferring it into bitcoin. I prefer using Swan Bitcoin, which does this all for you with ease. You won’t have the constant worry of ‘when should I buy more bitcoin?’ because it does it for you. They use the method of Dollar Cost Averaging by doing daily, weekly, or monthly withdrawals from your bank account, starting with as little at $10.

Let’s talk numbers, though: “Buying $100 of bitcoin every week for one year starting one year ago would have turned $5,200 into $6,295, which adds up to a return of 18 percent. Investing $100 of bitcoin every week for three years starting three years ago would have turned $15,600 into $23,125, which is a return of 47 percent. And finally, if you had put $100 into bitcoin on a weekly basis for five years starting five years ago, your $26,000 would be worth $199,626 now, a total increase of 664 percent” (Hugli, Pascal. “Bitcoin News, Articles, Charts, and Guides.” Bitcoin Magazine, 6 Oct. 2020, bitcoinmagazine.com). I think the numbers speak for themselves, but another thing to put into consideration when weighing the options, is that an everyday savings account at the average bank or credit union has ridiculously small interest rates. At my last credit union, I got $0.09 cents a month. Obviously, this is all dependent on the total in the account, but in the end, I think we both know there is a huge difference in the pros and cons of having a savings in the average American bank and a savings in bitcoin.

Numbers aren’t the only thing to consider when purchasing, though. You also have to consider the stress factor of purchasing. So, back to the Dollar Cost Averaging bit. When using this method, it will obviously take a little bit longer than normal to build up a good chunk of bitcoin, but bitcoin is becoming more and more popular by the day. It’s best to buy now, even just a little bit at a time – it could be $10 to $50 a week or $100 a month, whatever you can afford and/or are comfortable with – so when bitcoin becomes a more popular, everyday currency, and it will, you will have a savings under your belt. Because when bitcoin is ultimately more well-known and used on a normal basis by the everyday person, it will also be much more expensive. You’ll be comfortable knowing you bought it back when it was cheaper, and not later on, when everyone else wants a piece of it. If you go through Swan, you’ll be able to build that savings a heck of a lot easier, too.

I personally learned about bitcoin, and using Swan to buy it in a cheaper, smarter way, through my Dad. I’m still learning about bitcoin, it’s a very complex world, but at the very least, through talks with my Dad, I know of the growing popularity of bitcoin and the importance of buying now, at least until I learn more and know what I’m investing in. That’s why I use Swan, it makes it super easy for me to create a savings for my future. I don’t have to think or stress about it; the money automatically withdraws from my account every month, and so I’m building a fallback for when it comes time for me to buy a house, a car, or even just to have an emergency savings.

If you want to start Dollar Cost Averaging, use our link and start your plan today to get $10 of free bitcoin dropped into your account: https://www.swanbitcoin.com/CypherSafe/!

And don’t forget to protect it with a CypherWheel!

Thanks again,

Kathleen Bitcoin

Twitter: @KathleenBitcoin

Category Archive: Blog

Bitcoin Hardware Wallets

Why Bitcoin Supply is Capped at 21 Million

Some Bitcoin Podcasts

The Stephan Livera Podcast by Stephan Livera, sponsored by CypherSafe!

The What Bitcoin Did Podcast by Peter McCormack

The Bitcoin Standard Podcast by Dr. Saifedean Ammous

4 Minute Bitcoin Daily News by Gary Leland

Crypto Cousins by Gary Leland

Tesla buys Bitcoin

How I came into the Bitcoin World

Too Young

New Idea

Real Savings

Blockchain – Why Bitcoin Works

Blockchain

Decentralization

Pros and Cons

CypherSafe Adds LibertyX Bitcoin ATM

Another way to earn Bitcoin – The Fold App

What is Bitcoin?

Dollar Cost Averaging (BTCDCA)

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