Step 1: Research

I earned over 1550$ in residual income with an initial investment of 1190$ over the past month. Now, I will help you to reach that goal as well – or even surpass it. Today I am going to write about the next step: How to research effectively. So keep reading to learn how to research and make informed decisions and make a residual income! Links provided!

I will be writing some research basics for today’s post, and will provide some useful links concerning all things crypto to help get you started! This is all a part of my December special where I basically outline everything I did from start to finish to turn 1190$ into 1550$. To read the other posts in the series, scroll all way down for the links! If you want to dive straight into research about BitConnect specifically, also scroll to the bottom for all the links to the guides I have written about the topic.

Be patient and know your basics!

I get a lot of questions from people every single day asking me how BitConnect generally works, among other things I have written about. However, a lot of these questions are very vague, and are often followed up by very general questions on cryptocurrencies, what they are in the first place, how one acquires them and how / what investing is!

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It’s great that you’re interested in cryptocurrencies and making passive income through methods such as BitConnect, but you will be doing yourself and people like me a huge favor if you know your basics first! It’s a huge and often complex subject, so I would suggest knowing your way around a little bit first before taking part in any risky investments. Plus, when you ask for more specific help, it will be easier to get better answers.

Don’t be afraid to do a quick Google search on something like ‘cryptocurrency 101’ or even ‘investing for dummies’ or something similar. Get familiar with all the terminology and have a good grasp on all the basics. There is a huge variety of resources out there, and brushing up on your general knowledge will only take a few minutes.

Links:

Dive deeper

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Now that you know your basics, you may have a clearer idea of what direction you want to go with it all. Maybe you just have a goal of making a bunch of passive income so you can spend your days relaxing on a beach somewhere. In the world of crypto, there are a few paths that can help you get there, and you should have some general knowledge of them, and then specify on one. If you are on my blog, for example, you are probably interested in BitConnect, as that is what I write most often about. So, now you research deeper on just BitConnect. Start with their actual site, then gather reviews or articles from both large sources such as news channels, and also user experiences – such as this blog! I have written quite a bit on Bitconnect, and while I do have beginner’s guides, they do assume that you already have a general knowledge of cryptocurrencies and trading and investing. What my blog and this whole October special offers you is how to actually start making the money.

Apart from Bitconnect, you should also be able to go to the following sites, and not be totally lost, as you have a good foundation on theory and terminology:

https://coinmarketcap.com

  • This is a general place where you can find information about every cryptocurrency
  • It also offers financially relevant information, e.g. market cap, circulating supply, price and trade volume

http://www.coinmarketcal.com

  • This is a useful calendar with scheduled events related to cryptocurrencies
  • Its content is user-driven (users can add new events and vote for real/fake events)

Find and join a community

Part of diving deeper that helps hugely is finding a community of like-minded people, where you can find many opinions, experiences, and maybe even some mentoring or coaching. Here is where you can really get in-depth information and also more importantly, ask specific questions. Plus, the point of this blog, in particular, is to create a community, or pack, that works together and shares info to stay on top of the system so that we can all safely make informed decisions, and of course, money!

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Some useful links:

https://bitcointalk.org

  • It’s the oldest forum related to Bitcoin and cryptocurrencies
  • There are many discussions about old and new cryptocurrencies
  • It also works as a news site about cryptocurrencies

https://twitter.com

  • If you search correctly, you will find news + updates on cryptocurrencies and the market in general
  • Search for relevant hashtags or cashtags you are interested in, e.g. $BTC or #bitcoin

Similarly, sites such as Quora and Reddit may help you find some very knowledgeable people who are willing to share a lot of info.

Check your sources / Don’t makes snap decisions

All that being said, make sure you are always aware of who you are listening to, and always make sure to make informed decisions based on a variety of sources. It is vital in any situation in life to do your own research! There are a lot of scams and scammers out there, and of course a lot of opinions. Find sources that are preferably supported by a lot of reputable people and hard data, and for private sources such as myself, look for people who are totally transparent in what they do: do they share screenshots of their earnings? Are they consistent in their content and help others learn? Do they put time into their work?

And in the end, no matter how much research you’ve done and how well informed you are, NEVER INVEST MONEY YOU CANNOT AFFORD TO LOSE! Remember that this is all an extremely volatile situation, and there is no 100% foolproof way of making lots of money with minimal work and no risk. It is always a risk, and you should treat all your financial decisions with care.

But, that also doesn’t mean you should stop yourself from trying things out and making that $$$. For example, after I did all my preliminary research and was ready to invest with Bitconnect, I only put in 1190$. This is for me a ‘sane’ amount, and obviously, while it would suck to lose 1190$, I would not starve or something. However, I turned this 1190 into over 1550$ since November 2017! Just stay calm and informed throughout, and I would definitely recommend what I did to everyone.

 

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