Hello, my Steemit friends!
Hope you all are having an awesome day so far. I wanted to share with you today about my adventures in finding alternate ways of making money and making it profitable.
On my last post I spoke about my adventures with IOTA (https://steemit.com/cryptocurrency/@theguldenaries/my-adventures-with-iota-and-the-new-crypto-currency-3-0). Today I want to tell you about BitConnect.
I believe in living the dream now instead of waiting for some arbitrary date in the future when you physically can't even enjoy it -- at "retirement"
So let's talk about BitConnect! The way I understand it, BitConnect is a platform that allows users to earn interest by lending money that they convert to Bitcoins and then subsequently convert those Bitcoins to BitConnect coins that they lend to borrowers using the platform.
You earn interest based on the size of your investment and you can reinvest that interest to earn the ultimate COMPOUND INTEREST.
The beauty is that now, your money is working for you and when you start adding it up the little amount of interest builds up substantially the longer you keep reinvesting.
I came upon a really simple video on YouTube by Donald Keating from Canada explaining the concept with an initial investment of $100 USD (or the equivalent in Bitcoins) and he showed using a spreadsheet how the numbers grow with an average daily interest rate of 0.9%.
You can see his video here:
I decided to recreate and test the results myself and they were astonishing.
We all know the power of compound interest but most people don't use this most powerful tool because it is that simple. People think making money has to be complex, hard and complicated. The more I research, the more I am finding that this is definitely not the case. Making money doesn't have to be complex, hard or complicated.
Here is my spreadsheet I created to test the concept:
Based on my testing and re-creating the results, I have decided to invest $1010 to get the next tier daily interest rate and see how the investment grows over time. I will share my results after the first month and I will keep the community updated as to my progress with this other pipeline of revenue.
In addition to the interest you earn by lending on the platform, you can also earn referral bonuses as an affiliate by getting more people to join the site and use it. Please note that I am not inputting my referral link in this post because that is not the point or objective of me writing this post. It is to educate and to share my experiences as I travel on this journey to "live the dream"
Here is a summary of the referral program:
Anyway, I hope that this post helps someone out there start on the journey to "Living The Dream".
Like Robert Kiyosaki said in "Rich Dad, Poor Dad": "...Am I hauling buckets? or am I building a pipeline..?" "The poor and middle-class WORK FOR MONEY, the RICH have MONEY WORK FOR THEM!"
So go build your pipelines and don't haul buckets!
Please upvote if you like this post. Comment, ask questions and interact. And also if there is someone out there who has had more exposure to BitConnect and will like to share their experience. Please feel free to do so too.
Thank you for your time. MUCH LOVE!
I want to try this image as my profile photo. Credit to Gettys
