I always tell people that digital currency can change your life in a positive manner...
I first heard of Bitcoin in 2010 and finally bought my first Bitcoin in 2012. During the chaos of 2013, I started investing heavily in Bitcoin and a few other digital currencies. I won't say that it wasn't a bumpy road and that I haven't made any mistakes along the way.
Crypto can be the wild, wild west, and you can, and most likely will lose some money along the way. However, the experience you gain is worth it. The wealth you CAN gain, eventually pays off.
I really have not cashed out of most of my investments. If I do, it is usually to flip the money into another investment. That's how Bitcoin and other digital currencies can grow your wealth. That does not come without risk.
In March of 2015, I participated in the Factom crowdsale. I thought the potential for huge growth was there. If I had not just spent a fortune to move to sunny Florida, I probably would have thrown at least $100-$500 worth of Bitcoin into Factom. However, at the time, I had cashed out a small amount of Bitcoin to help cover moving costs. So, as a bare minimum, I decided to only throw $45 into the crowdsale. That purchased me 750 Factom Factoids.
Now, I will be honest. Since Factom has launched, I have purchased extra FCT on Poloniex exchange and traded this on and off, from 10 cents all the way to $3. But, when I say that I turned $45, into a new 13-inch Macbook Pro, I am still technically right. I have not touched my original $45 investment until Factom hit $3.33 this week. I decided to sell 425 FCT and use the Bitcoin to purchase a new laptop. As for the change, I still have 325 FCT in my hands, which is roughly $1000, give or take.
Disclaimer: I will still continue to purchase FCT on a monthly basis. This is one altcoin with a real-world use case, and one of the only digital currency/blockchain companies with actual paying customers!
Here I am with my shiny new Macbook Pro, writing my first Steemit post on this new laptop! I have needed a new laptop for a few years now. My old Macbook is one of the 2009 white old-body-style Macbooks. I am still surprised everyday that bad boy is still kicking. I think that the risk of something going bad after all these years is increasing after 7 years of hard use. Sometimes you have to treat yourself.
So, once I traded my Factom for Bitcoin, I could have easily used Coinbase to cash out to my bank, or even purchased an Amazon gift card with Bitcoin on gyft.com. However, I wanted to try something I have been hearing @rogerkver talk about for awhile. I decided to purchase my Macbook on purse.io.
Now, Once again, I'll be honest: In crypto, you must always have your guard up. It's very easy to LOSE MONEY! Always research where you are sending your Bitcoin. It's still a new technology, and for all of the great things that Bitcoin can bring, it also brings out scammers.
One of the main reasons I decided to use purse.io, is because of @rogerkver. He doesn't usually attach his name to anything that he is not 100% behind. Note: always do your own due diligence.
Purse.io is an online website that allows you to buy ANYTHING on Amazon.com. You can also earn Bitcoin on purse.io by filling orders for those customers using Bitcoin. You can instantly save 5% with Purse Instant, where they complete the Amazon transaction. Once you have made your initial first purchase, you can then name your own discount, up to 50% off. I doubt anyone will fill an order for that large of a discount, but you never know.
For those wondering how, or why anyone would want to complete an Amazon order and then wait for the transaction to complete to receive Bitcoin, I think I see why. If a buyer wants to save 20% on an item, and I purchase the item for them, and then receive Bitcoin as payment, as long as the value of Bitcoin continues to rise, I should make back that 20% plus any other positive rise in price. I'm assuming people who have no other on-ramp to Bitcoin, such as through Coinbase, would want to provide this service as an on-ramp to Bitcoin. Many either lose their accounts on Coinbase for various reasons, or maybe they don't like the intrusion of privacy that Coinbase and many others must have for regulatory reasons.
I know that recently Coinbase held a survey in which they asked who my employer was, what my position was, etc. I could not complete any transactions until I answered these questions. Many may see purse.io as an on-ramp to Bitcoin.
The Bitcoin I sent was held in an escrow account, until my order was complete. I had a few nerves sending about $1200 in Bitcoin to an escrow account while I awaited my shiny new laptop to arrive. Was it going to be as advertised? Was it really new? Is it possible that I can run into any issues with purse.io, Amazon, or the earner that could delay me receiving my new laptop?
I had faith that the funds were safe in escrow and that it would all go fine.
My only gripe about purse.io can be seen in the two images above. Once I created the order and sent my Bitcoin, it did take a little bit of waiting for the updates. I will say that the purse.io website does not update in real time, and I did not receive the shipping info and tracking info until Friday morning. I ordered the laptop on Monday night. So the whole week, I saw the action in motion, but not any early shipping/tracking updates.
On Friday morning, once purse.io posted the shipping info, I was shocked to see the whole week the process was already in motion and the laptop was out for delivery to my workplace. I was so excited that I went from somewhat nervous and annoyed at the lack of status updates, to extremely pleased with the process.
Once the laptop was delivered, I opened checked to be sure the laptop was in fact new, and sealed, so that I know there was no tampering with the actual computer. I then logged in and began setting up my new laptop. Once I was happy and sure that it was in fact new and not broken, as advertised, I confirmed my order on purse.io. The Bitcoin in escrow, then went to the earner.
You can see the confirmed delivery and that I saved 5%, or $60.58. Now, I have a feeling, that if I had used my bank card or an Amazon gift card, I might not have paid that sales tax. I won't complain though. I was happy with my purchase, and I will use purse.io again.
nice post! glad to see someone doing good in crypto world. do you still suggest to invest in FCT?
Thanks. I think so. I do now and will continue. Like anything, it's only speculation. But this seems like they have a legit business model and are gaining customers around the world. They are targeting the medical industry and government record keeping. We will see in the future :)
This is an awesome story!
Thanks! I love to share how simple investing can create extra cash flow, and even wealth. Good luck!