If you have been keeping a watchful eye on currency exchange news, who will have seen how bitcoins have not only become increasingly popular, but have soared in value. Back when I unexpectedly received my first Bitcoin, they were valued at about $800. But just the other day. as I was browsing through the finance section of my favorite online publication, I read the headline that announced that bitcoins had for the first time gone over the $1500 threshold and in value. That means if I still had my first Bitcoin today,, it would have almost doubled in value my now – and this was only a few short years ago...
My first encounter with Bitcoin was not only unexpected, but accidental – but it was a day that changed my life. See before then, I only perceived value in American money- dollar bills and coins. At this time, we were at the end of the worst of the recession, I had to leave because they alone for a while and so I have tried a few different business ventures until I landed on freelance writing. My business started off pretty slow, which meant that every penny was important as I scrambled to get by.
I applied from one website to another until I had enough memberships that I believed would carry me enough to make at least minimum wage. After a few weeks of writing articles to apply to the networks, been accepted and then in turn completing assignments that hour to get paid on, it was time for me to request my first payments.
In most cases, PayPal is a preferred method of payment when dealing in the freelance writing industry. But on one of the websites I needed to get paid from were offering giving me the option to be paid by PayPal transfer, bank wire or a bitcoins.
While requesting that payment, I selected the Bitcoin option, unintentionally because I was assuming I was selected PayPal, and process the payment. The payment was expected to be deposited four days later, and on the fifth day, when I realized I had not received my PayPal deposit, I sent an email of inquiry to the editors, inquiring about my payment. The response that I received not only indicated that my payment had been process, but that I had selected bitcoins and that is how the payments was sent.
When I first read the email, I knew that I had saw the word Bitcoin on the screen. But because I had never heard of that before, I ignored it, without asking any more questions about what it was or how it works. But now that I have had this Bitcoin sent to me, and at a time in which money was very tight and I needed every single payment that was due to me at that time, a first idea was to claim a Bitcoin and see if there was away to have that converted back into a PayPal payment in some sort of way.
But if you know now what I do not know then, you understand that that would have been the biggest mistake I could've ever made, especially since I would have been giving away free money that was given to me.
See, when I went to do my investigation about the Bitcoin I realize that the Bitcoin was not a coin, or dollar like I had assumed it was. I think what I was looking for was something shaped like a quarter or nickel. But then when I found out that it is not physical currency that I can put in my Bitcoin wallet but only digital value I begin to get very nervous. How in the world am I going to use this money to pay any of my bills and keep my count for being overdrawn if it's not real money that they are paying me with but numbers on a screen.
I felt myself getting very agitated and frustrated, especially since this is my hard earned money we are talking about. But I did not want to blow off season at the wrong person. So instead of calling the editors back to demand cash, I decided to do a little research about what bitcoins word.
To make a long story short, I merely saw that this was the wave of the new future. Because my biggest complaint about the American dollar is that it doesn't have the same buying power it once did. What I used to be able to buy with a dollar just a short decade ago now can't even cover half the cost of that same item. So the increased cost of living and the inflation on the American dollar means that even though I put in a semi-to work as a always have, I'm not really getting the same value for that effort. But with bitcoins, the awesome thing is that they can increase in value. A Bitcoin is worth a particular mount today, as you have seen recently, can practically double, even triple in value if you're willing to hold steel and keep that Bitcoin.
Now needless to say, I cast in my Bitcoin when I absolutely had to, and I was able to get a few extra dollars out of the waiting period. But all in all, I somehow wish I would have been in a financial position back then where I would not have had to use it because I think of the potential that I would have been able to get out of that. Now I could've taken that same effort and turned it into an investment that would pay me dividends without any action required. That type of residual income, and something that you can do just based on actions that you do today using bitcoins that will increase in value over time. So have deftly want my lesson, crypto currencies are deftly wave the future, and even more, I will be making many more investments in them in order to have long profits that hopefully surprise me even more in the future to come.