Today I’m going to show you how you can make money with bitcoin. Making money with bitcoin can be as complicated or as simple as you make it, you could go and buy a lot of money’s worth of bitcoins and wait for the price to go up and then sell it off or in this case you could buy Bitcoin at a price and sell it for a higher price. It’s really just the basic formula in business buy low sell high and I’m going to show you how you can do this on this website so this website is local bitcoins they’ll be a link in the description so go ahead and click it and sign up.
Here’s the homepage of local bitcoins now you can see where it says I want to buy bitcoins and I want to sell bitcoins, first I’m going to click on I want to buy bitcoins okay so to do this effectively you’re going to need a capital you’re probably going to need around 300 to 400 pounds. However, you can make it work with hundred 200 you’re just not going to see the profit switch quickly as you would doing it in a bigger amount. The key to this is going to be buying it with bank transfer and selling it at PayPal now when you’re selling Bitcoin for PayPal you can sell at a higher rate at a premium because PayPal has some rules and restrictions on what you can and can’t do.
Therefore you can make your profit margin bigger by using PayPal so the way you would buy it is by coming to this website and you are typically in an amount. I’m going to type in 400 not 4,000 and you want to buy it for a national bank transfer everyone’s got online banking nowadays. A bank transfer is going to be great and it’s the easiest way to buy it and then we click search now as you can see here these are all the people that are selling bitcoins for a national bank transfer.
Going to sell
I’m in the UK so it’s going to be in great British pounds it could be in dollars and this guy here at the top jdl bitcoins is the cheapest and his price is 322 pounds and 65 pence per Bitcoin. That’s one Bitcoin so if I was to buy one Bitcoin I’ll buy it for 322 pounds and 65 P.I’m just gonna say 322 pounds for the video and then for PayPal you could sell it for 365 so if we just do 365 – 320 – I think it that equals a nice profit of 43 pounds per Bitcoin you buy now if you list this as the lowest price you’re going to have loads and loads of people buying bitcoins every hour and you probably going to sell out bitcoins really really quickly. Everyone wants Bitcoin for PayPal and if you’re the lowest price obviously you’re gonna sell out okay so if you’re intrigued and you want to go and look yourself links in the description and you can go and see but if you want a tutorial on how you can actually make a listing then carry on watching as I’m gonna explain that now so I’m just going to log into my account you’ll click sign up and it’s fairly easy to sign up.
High profit margins
Just registered a new account because I don’t want any of my personal details showing but here is the new account and the way we’ll post the trade is by going to the home page and clicking post to trade and in my case it’s asking me to verify a link from an email address and that was that now so going to do that now. We’re in successfully and here is a bitcoin trade advertisement now this is kind of self-explanatory but there are a couple of things that you may not be sure about obviously you want to sell your bitcoins online and you can enter a location, in this case, I’ll put the United Kingdom as it’s best for me I’m payment method obviously you need to make sure this is PayPal, so you can get the high-profit margins now it says the risk level when selling bitcoins online with PayPal. Is high and that simply because of chargebacks and some other reasons. But I’m going to show you how you can avoid chargebacks not completely bought for the most part.
The margin and this is basically going to be your profit margin now as you know bitcoin fluctuates up and down all the time so we’re going to have to have a percentage on how much profit we’re going to make here so the current market price is 318 we’re buying it for 322 I think it was and we’re selling it for 360 or something around that. If I put a margin of 5%, for example, it’s going to go to 3 134 now if we’re selling it for free 6 10 I’m going to put a margin of around 10 or maybe 12 15 percent margin gives us a trade price at 366.
Make a profit.
I’m going to take it down to about 14% margin and then we’re going to be on the cutting the lowest seller and you can keep it at that now. This may change by the time you’re watching this video just use the right margin to make a profit. basically okay so here is the minimum transaction limit to cater to all people you could put zero but then you could be messing around doing like two-pound deals three-pound deals. And you’ve got to decide what your time is worth. To attract more people you could put zero but I would put five pounds if I was you and then the max transaction limit obviously you don’t want this to be like 1,000 because if you’re using PayPal it could be a high risk doing a 1,000 deal with someone because of PayPal limitations and charge bucks and all that so I would leave this around 300 max. Or instead of having a wide spectrum from 5 to 300 you can restrict the amounts to say 5 10 50 100 and there they are the only amounts they could buy now opening hours you want to pop when you’re available on your PC obviously put it when you’re available I can’t really explain that so we’re going to move on…
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