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HACKING
INVESTING
WHY BITCOIN, ETHERIUM
AND CRYPTOCURRENCIES
COULD M A K E YO U
A MIL L IO N A I R E
#Hustle2Greatness
IAN BALINA
D
id you know that investing in Bitcoin
and Ethereum could make you a mil-
lionaire?
A
lot of people scoff at the idea of virtual
currency when they first read about it. It
almost seems too good to be true. Howev-
er, after reading more about how it works,
most people get sold on the idea. And, here’s why.
7
Since the first Bitcoin transaction recorded in 2008,
the cryptocurrency was proven to be one of the most
secure investments one could make. Except for 2014
when the price fell to $30 for a short period, Bitcoin
continues to exceed all expectations.
8 I A N BA LI N A . CO M
2
CHAPTE R
WHAT IS BITCOIN?
B
itcoin is the first global, decentralized cur-
rency that allows you to send money from
one person to another without involving a
third party broker, such as a bank. You only
need your computer to make transactions because Bit-
coin is fundamentally software.
9
You might think that the lack of control could mean
chaos, but that’s not true at all. That’s because Block-
chain, the technology behind Bitcoin is one of the most
accurate and secure systems ever created.
10 I A N BA LI N A . CO M
CHARACTERISTICS OF BITCOIN
G LO BAL
I R R E V ERS IBLE
LOW FEES
P R I VAT E
H AC K I N G I N V ES T I N G 11
SE C URE
OPEN
12 I A N BA LI N A . CO M
3
CHAPTE R
WHAT IS ETHEREUM?
U
nlike Bitcoin, the primary purpose of
Ethereum isn’t to act as a form of cur-
rency but to enable “smart contracts”
between the parts without forcing them
to trust or use a middleman. Smart contracts are com-
puter codes that can facilitate the exchange of money,
property, content, or anything of value. Because these
contracts run on the blockchain, they run just as they
are planned without any possibility of downtime, cen-
sorship or fraud.
13
Ethereum enables developers to build decentralized ap-
plications (or Dap.) Because these computer programs
are made up of code that runs on a blockchain network,
they aren’t controlled by a central entity.
14 I A N BA LI N A . CO M
4
CHAPTE R
J
ust like Bitcoin, Ethereum is an open-source
blockchain network. Although there are some
differences between them, the most relevant
distinction you must remember is that they
have different purposes.
15
the other hand, is a platform for running applications
on a distributed network that allows smart contracts be-
tween individuals worldwide.
16 I A N BA LI N A . CO M
5
CHAPTE R
I
t has become common today to speak approvingly
of blockchain but to dismiss Bitcoin and Ether.
Financial magazines write about how banks and
investors race to harness the power of blockchain
but treat cryptocurrencies with skepticism.
17
However, they confuse technology with valuable appli-
cations.
DECENTRALIZED FORMS
OF CURRENCY
18 I A N BA LI N A . CO M
that your accounts have been frozen. Bitcoin is the only
electronic cash system in which your account is entirely
yours.
H AC K I N G I N V ES T I N G 19
To date, there are already 11 million Bitcoins, but it’s
estimated that it will take more than 100 years before
all 21 million coins will be mined out.
Since it’s universal, you can pay with bitcoins from any-
where in the world. That is particularly useful for coun-
tries confronted with inflation and payment problems.
Latin America is an excellent example of people turning
20 I A N BA LI N A . CO M
to Bitcoin in response to the recent financial crisis they
are facing. Being a universal currency, Bitcoin allowed
Latin consumers to shop and send money internation-
ally. Global companies, such as Walmart or Apple that
might not accept local payment options from Latin
American can now use the cryptocurrency to continue
to reach consumers in the region.
H AC K I N G I N V ES T I N G 21
6
CHAPTE R
WHY BITCOIN,
ETHEREUM, AND
CRYPTOCURRENCIES
COULD MAKE YOU A
MILLIONAIRE?
22
B
uying virtual currencies might seem like too
much of a risk. But, if you think about it for
a second, it’s one of the soundest investments
you could make.
While you can’t turn back time and, just like Christo-
pher Koch, spend a few bucks on Bitcoin and wake up
wealthy four years later, you can still make a lot of mon-
ey investing in cryptocurrencies now.
Have you ever wonder why you just can’t seem to stretch
your dollars enough anymore? The explanation is rather
simple: the value of the US dollar is declining.
H AC K I N G I N V ES T I N G 23
However, starting on 1913, the dollar would only be
partially backed by gold. As time went by, the paper
money supply expanded faster than the country’s gold
supply, and the US dollar quickly lost its value.
24 I A N BA LI N A . CO M
VIRTUAL CURRENCIES COULD BE
REPLACEMENTS FOR GOLD
But, now that one Bitcoin is worth more than one ounce
of gold, it could be a sign that it could rival gold as a
safe-haven.
H AC K I N G I N V ES T I N G 25
7
CHAPTE R
HOW TO START
INVESTING IN
BITCOIN, ETHEREUM,
AND OTHER
CRYPTOCURRENCIES
26
T
here are multiple ways to invest in virtual
currencies, and it all depends on what you
want. Here are the basics of buying and in-
vesting in Bitcoin, Ethereum and other al-
ternative cryptocurrencies (altcoins).
COINBASE
H AC K I N G I N V ES T I N G 27
HOW DOES IT WORK ?
C R E ATE AN ACCOUN T
28 I A N BA LI N A . CO M
P URC HASE YOUR FIR S T B ITCO IN S
G DA X
H AC K I N G I N V ES T I N G 29
DD BTC (Bitcoin) to USD
DD BTC to EUR
DD BTC to GBP
DD ETH to BTC
You can link your bank account so that you can fund
your trading account with USD, EUR or GBP. You can
skip this step if you only wish to deposit bitcoins or
Ether.
30 I A N BA LI N A . CO M
HOW TO MAKE DEPO S IT S
Here’s how.
H AC K I N G I N V ES T I N G 31
HOW TO BUY AND SE LL U S IN G GDA X
G DA X ALLOWS YOU TO CO N T RO L YO U R LO S S ES
GEMINI
32 I A N BA LI N A . CO M
The process of registering and using Gemini is similar
to GDAX. However, there are a few notable differences.
H AC K I N G I N V ES T I N G 33
W HE R E TO INVES T IN A LTCO IN S ?
34 I A N BA LI N A . CO M
8
CHAPTE R
USEFUL RESOURCES
TO LEARN MORE
ABOUT BITCOIN,
ETHEREUM, AND
CRYPTOCURRENCIES
35
T
his guide is a great starting point if you are
new to the world of cryptocurrencies. By
the time you reach this point, you know
what Bitcoin and Ethereum are, how they
evolved and how they work. Most importantly, you un-
derstand why they are good investment opportunities.
However, you can never learn enough, especially since
virtual currencies are volatile and sensitive to what hap-
pens in the world.
DIGITAL GOLD
THE COINTELEGRAPH
36 I A N BA LI N A . CO M
9
CHAPTE R
CONCLUSION
W
ith people losing faith in the tradi-
tional banking system, virtual cur-
rencies are beginning to become a
more appealing option for both con-
sumers and companies. So, it should come as no surprise
that Bitcoin is increasing in value and is even consid-
ered a reliable alternative to the gold standard.
37
payments in electronic cash, it’s also about the creation
of smart contracts. So, while Bitcoin is a digital curren-
cy, Ethereum is a platform for running applications on
a distributed network.
So, sign up with this link here, and we both get $10 free.
Then let me know how your investment is doing.
38 I A N BA LI N A . CO M
Thank you!
The number one thing that stops people from not creat-
ing a six figure career and lifestyle is that they don’t take
action. They don’t start and finish things.
Instagram: @diaryofamademan
Facebook: facebook.com/ianbalina
YouTube: youtube.com/HackingTheSystem
Snapchat: @diaryofamademan
Twitter: @diaryofamademan
Quora: quora.com/profile/Ian-Balina
Thank you!
Ian Balina
#Hustle2Greatness
H AC K I N G I N V ES T I N G 39