How to pay LESS FEES for Bitcoin transactions

Bitcoin fees have been a hot topic for quite some time now. Ever since the first major congestion on the Bitcoin network occurred back in 2016 we have seen many complaints and a hard fork that came out of the ongoing debate regarding scaling and reducing the fees we pay for Bitcoin today. There was a time when Bitcoin’s fees were so minute that many turned to the digital currency for that very reason and naturally, as the digital cash became more and more popular and gained usability, the transactions grew to an all-time high (back in December of 2017) which also created a massive backlog in pending transactions, which subsequently created a competition in approving transactions and caused an insane spike in the fees for these transactions reaching at one point a whopping $60+ (on average) for a transaction.
This was for about a period of a month and a half during the notorious bubble burst post-December. Bitcoin had reached an all-time high not only in value but also in fees and it became very unattractive and costly to use it. Many businesses switched off (temporarily) their BTC payment option (Microsoft was one of the first) and for a moment we were unsure where the future of Bitcoin will lie if it’s no longer used as a payment method but then came the retraction and with it the fees went down very quickly so now we are paying on average $0.70 – $4.00 which is a far cry from the all-time highs. In fact, I pay about $0.07 for most of my transactions and I know how to “edit” or “customise” my fee with the help of Ledger Nano S, Jaxx, Blockchain and Coinomi wallets ( I use all of these).

To help explain how to do this, I recorded a few video tutorials, the process is super-simple, just have a look and stop paying high fees for your Bitcoin transactions, there is no need to. Did you know that someone managed to send more than 100 BTC recently for the fee of $0.06? Crazy right? It’s possible. See how here:

Lastly, check out the Ledger Nano S, it can store a large selection of coins and it’s a definite MUST HAVE. You can see my Tutorial HERE.Ledger Nano S - The secure hardware wallet

BNB vs KCS : Two utility tokens to consider

There are many staking coins and various ways they reward their hodlers. Some require running a masternode, others require longer lock-in period of the coins or a higher amount limit. And then there are those with a simpler, more user-friendly strategy like BNB and KCS which share a similar model so it makes sense to compare them here.

Both coins are serving as utility tokens for two big exchanges:

Binance is currently the fastest growing alt coin exchange platform with over 3 million customers and an excellent selection of alt coins. Kucoin has a smaller memberbase and subsequently, a smaller volume which is also reflected in the value of their coin. Both BNB and KCS have been gaining traction in the past 6 months and have produced impressive results but the obvious leader in this race so far is Binance Coin with an average price of $13 (at the time of writing) and estimated market cap of 1.5 billion USD. Kucoin Shares is lagging in comparison and currently stands at around $4 with an estimated market cap of 43 million USD.

More about Binance Coin (BNB) :
The current circulating supply of BNB is 114,041,290 from which the company allegedly has around 80 million safely stored. Total supply is capped at 200 million but they are burning some of these (if I am correct they buy 20% of the supply per year back and destroy it) to increase the price which is becoming a common practice for many alt coins.

Rewards: discounted fees to members depending on the amount of BNB they stake. Binance as an exchange has a fee of 0.10% on each trade. When using BNB this fee is reduced by 50%. The amount is automatically calculated and reduced from the BNB Tokens in the wallet. This is the way Binance is rewarding its customers for staking its coin which in return brings more value to the coin due to scarcity. Should the demand for the coin continue, it’s a win-win scenario for all members of Binance who are staking. The higher the amount you have, the less fees you pay, which is another incentive for higher staking.

Kucoin Shares has a circulating supply of 11,135,728 KCS and a total supply capped at 200 million KCS as well.
KuCoin Shares were initially distributed through a private sale and an ICO as a means of funding the development and growth of the exchange. Like Binance coin(BNB), KCS can be used to pay trading fees, and doing so rewards users with a significant discount. Unlike Binance Coin, however, KuCoin provides added value to its customers by sharing 50% of all trading fees with all KCS holders. In other words, the exchange is paying a percentage dividend from their trading fees collected for all coins that their members trade at all times. Every quarter, KuCoin takes 10% of its profits to purchase and burn KuCoin Shares. This program will continue each quarter that KuCoin is profitable until 100 million of the 200 million coins in the total supply have been burned.

Both exchanges offer an affiliate program where you are paid commissions for bringing new customers but the terms change every now and then so best will be to check what is the current state of their affiliate plans. With Binance the referral commissions could be up to 40% (for those who stake 500 BNB or more) which can be very rewarding especially for those who have large networks. You have your own referral link that you need to share with your friends and fellow trading enthusiasts and you can start earning some additional revenue in no time.

So far both coins have a lot in common and both have a great potential for further growth but please don’t take this post as a buy-signal. Always analyze the market well first and look for the right entry point. I’m sharing this to bring awareness and give you a sense of perspective for possible trading opportunities. The two exchanges are still in their early days and are experiencing growth which is a positive too. Should anyone decide to get involved, they must keep an eye on all news surrounding the exchanges because it is very likely that any major disruption to the business will reflect in the value of their coin. With that said, I am happily trading both and trying to always keep a healthy balance of either coin on their exchanges.

If you haven’t yet opened an account with either of them here are the links:

Binance: https://www.binance.com/?ref=18518380

Kucoin: https://www.kucoin.com/#/?r=7H327K

Why Is Bitcoin going down?

Recently I reported on the increasing market manipulation going on with the Bitcoin markets and it seems there’s even more to it.
In my latest Crypto Corner (my weekly news and market commentary) I pointed out a very good article that throws more light on the subject.

Video 1 –

Video 2 –

Catch my daily ePaper with selected news and articles on everything crypto :

https://paper.li/e-1517017825#/

1 year anniversary in Video Marketing…

74b5530ce391564995cb338c55688334.jpgThis month [April] marks the first year anniversary since I started running my Youtube channel and I would like to take the time to reflect on my progress and share with you my journey.

I first tapped into network marketing some 10 years ago but at the time I was focused on my photography career and did not follow through with it. Fast forward to 2014, I had just found myself with a little bit of spare cash in my pocket and I decided to look for ways to invest my savings and grow my capital online. Somewhere late that year I found a website that offered pretty much what I was looking for: 120% return on investment (ROI) and a growing memberbase, I learned about Alexa rankings, compounding your earnings, becoming an affiliate, earning commissions, little by little I realised I have gotten myself into another network marketing business although I viewed it as an investment. For a long time I did not want to promote and refer people into it because my network was predominantly art creatives, fashion and design professionals who are in a completely different frequency to the world of network marketing. It took me about 9 months until I decided to take the first step and I started a blog. It was just a diary of my progress with that program, kind of a record of my progress and what I learned. Soon I was hooked into courses and webinars and live events, all the elements of the network marketing industry that set up the road which you’re taking. I tried a bit of affiliate marketing, quickly realised direct sales was not my thing, then I joined more revshares, some hyips, tried binary options, spread betting, looked into forex, didn’t think it’s for me tried product based MLMs, digital-based MLM, more revshares, then came the matrices, the cyclers, I even helped design a matrix-style peer-to-peer program back in October 2016 when my friends Lubos Hollan and Tousif Parvez reached out to me for advice while I was holidaying in the South Of France ( I was already making a very decent online passive income and I had my first major hack attack on my accounts during that trip so it will not be easily forgotten. I lost a few thousand dollars because of being naive and using the same password for everything. Big mistake). I was grateful that this happened when I was already making money online and not earlier when I was still loosing… I have to mention here that I started my online journey with an initial investment of $5000 and by the end of my first year I had lost all of it, so then I had to start afresh.

All in all, I went through a lot in just one year. I seemed to had it all figured out when the first business I was invested in came crumbling down, a month after that the second followed suit, another few weeks went by and the third also disappeared from the online space. I just kept looking for new opportunities. With each loss I learned a new lesson, I got better equipped for the next challenge and I started playing it safe, working with smaller amounts of seed money to minimise and spread out the risks. I also started being more selective and used my experience to warn others about the dangers and the obvious scams out there. At this point my marketing profile was growing and my audience too. I had achieved one of my goals. Having an audience and the real difference came just after that April when I started my videos. That happened last April, exactly a year ago when I joined a video challenge for a business that I had just added to my portfolio called Ford Ad Pays. We were a group of enthusiastic marketers learning to use the power of videos in online marketing. Each day we had a topic that we had to discuss in our videos and one day we had to talk about our goals and this is a video that I am referring to here in my post below. I was in London last week to meet with the directors of a company that I just added to my business portfolio and I took the time to visit my old street, where I was living at the time when I started this online journey and I am proud to say that the tasks I laid out in my video exactly 1 year ago have now been achieved and mainly my re-location plan. I had just decided to try and move to Spain when I recorded this video and at the time it seemed like a distant thought, nothing too serious, just something I would like to be able to do. Well, I am really happy to say, I am writing this post from my new home, in Barcelona, Spain, I moved here just three months ago and it’s the place I asked for exactly one year ago. Target achieved. I am living the laptop lifestyle, making 100% of my income online, no more physical work, I am my own boss. Dreams do come true. If you work hard and keep believing in yourself you can achieve your goals but you need to be consistent and have a plan. Establish some discipline and routine and stick to your targets. Here’s my video message, keep working hard and don’t give up, no matter how hard it gets. Persistence will prevail.

Bitcoin ETF rejected today. Price dips by 15%

Bitcoin had been soaring in recent days on the anticipation of a ruling by the SEC on the listing of a bitcoin backed ETF. It jumped to $1279.00 in the last hour before the result was announced. Then moments later it was down to $1150.00 and later reached as low as $1060.00

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The event today was an important ruling by the U.S. Securities and Exchange Commission (SEC) that rejected the proposed Winklevoss Bitcoin ETF [a trading exchange similar to Forex and the stock market]

The reason the ETF was not approved, according to the SEC, was because bitcoin is “too susceptible to fraud due to its unregulated nature.”

This is quite wry coming from the ultra-corrupt and anti-free market SEC. The market needs no regulation by an outside and violent entity (government) operating through the use of stolen funds (taxes) to manipulate, extort and attack people who do not pay enough bribes (political donations).

Bitcoin, in fact, is perfectly regulated the way it should be. By the blockchain itself. Bitcoin is 100% regulated by the blockchain which is a ledger system that is completely transparent, available to all, and unchangeable by any one entity.

In fact, “regulation” in and of itself is a tool used by branches of crime syndicates such as the SEC. Luckily, bitcoin cannot actually be regulated by the SEC, which makes it far more secure and less susceptible to manipulation and corruption.

Many in the bitcoin community were quite happy to hear that the SEC did not approve the ETF. Aside from not wanting the blessings of a corrupt, criminal entity they also said it limits the ability of some to manipulate the market, via shorting and other means that would be made easier via the ETF.

We now live in a very digital world. The largest population today is not China’s. It’s the internet. The largest economy in the world is not the United States. It’s the internet. The largest postal carrier is not the DHL, UPS or FEDEX. It’s the internet.

Bitcoin is internet’s money. It’s the defacto currency adopted by those on the internet. It has no state nor borders. No bank can control it. It’s not about “what country will adopt bitcoin first”. It’s about bitcoin not needing a country to exist.

That is what makes bitcoin so valuable. And, it is not going away anytime soon.

If you aren’t yet using Bitcoin, you are missing out on a very swift, easy and cheap way of transacting money. If you have not yet purchased any Bitcoin yet, you are missing on a massive earning potential. In the past year alone, the price of Bitcoin tripled, that’s 300% gain for those who had it already. In the coming year it will possibly reach around $2500-$3000 and then it will continue to rise due to its limited supply and ever increasing demand.

This is just a projection, but one that has been agreed and shared by almost every financial expert in the field. Make no mistake, Bitcoin is a must-have in any online entrepreneur’s portfolio. Don’t let it pass you by.

Bitcoin or Gold?

February 24th 2017 will be remembered as the day when Bitcoin finally reached that pivotal point of beating its own record price that was set back in 2014. With this came the inevitable question : Is Bitcoin better than Gold? A touch question if we talk about value in the long run, but I do have a very clear idea about its short term performance…

If you are looking to get your hands on some Bitcoin, my top choice for a beginner is dfinitely Coinbase – the biggest Bitcoin wallet and exchange. Here is my review and tutorial about Coinbase:

Bitcoin – the revolution

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2016 will go down as the year when we [the marketing world] embraced Bitcoin.
We started 2016 with some knowledge of the digital currency that has been growing since 2009 [it took us a while, I admit] but once we added Bitcoin in the game things took of and it was really a no-brainer. For a community that earns their income online it makes perfect sense to use this online currency. Surprisingly, it appears that Bitcoin makes things easier rather than complex, but most importantly, the fees are minuscule and that means you get more from your earnings to yourself. 
I bought my first Bitcoin in late Spring for about $425 and I still remember how disappointed I was with myself for an earlier rejection to the idea, at a time when Bitcoin was a mere $130 some years back. Nevertheless, a firm believer in the digital coin, I am happy to see Bitcoin reaching for the $1000 mark. It is something that many early investors are waiting for and it’s happening already.
Well, we are closing the year with a rough price of $950 and up.
What is he future of Bitcoin in 2017? More ups or downs? That is the question on everyone’s lips. Those who came in late and bought it in the past month are going to watch it with trepidation, stress about every little dip in the chart of course but one thing is for sure: Bitcoin will keep rising, it is still the only real crypto on the market that offers usability aside from the general investment outlook which will keep its rising popularity. And there is even a chance that it may hit the mainstream public. And if that happens, we might see it shoot straight up.
A few factors are needed if this is going to happen and the first one is : Promotion.
If we are to see the general public going mad for the coin it has to be marketed correctly. Through the mainstream media. And this is already happening. Financial outlets like newspapers and magazines have been banging on about it for years. It’s time for something more attractive and it’s coming in the shape of a full feature movie. Yes, in 2017 we are to have the first major movie about the revolution of the digital currency and it’s opening really soon.
“Banking on Bitcoin” is a feature film on Bitcoin, its history and future.
Set to be released on January 6, 2017. Produced by Gravitas Ventures, the film will be launched at select theatres and will also be made available on VOD.

The  film covers the most disruptive digital invention since the Internet. It follows the ideological battle underway between fringe utopists and mainstream capitalism. An in-depth coverage of key players in the space including Charlie Shrem, Cameron and Tyler Winklevoss, Barry Silbert, Erik Voorhees, Nathanial Popper, Alex Winter and more gives an insight into how they think this revolutionary cryptocurrency technology will shape our lives.

Could that be the next big push that is needed to carry on the ever growing popularity of Bitcoin into the mainstream and will that help the price reach the long awaited $2000 price value of the currency is yet to be seen but one thing is for sure. Bitcoin is here to stay and 2017 will be crucial year for its development and growth. Many governments are looking at utilising the Bitcoin and if successful they will do more damage to the currency than we would have expected but will they succeed is still questionable.

2017 will be a really interesting year for Bitcoin and we are all eager to find out what is coming.

Happy New Year everyone!