Bitcoin (BTC), despite the number of cryptocurrencies added to the market over the last decade, continues to be the king; with the price rising to $70,000 or, well, almost there, you can expect it to remain at the top for a very long time.
Bitcoin was the first cryptocurrency, and its value has risen from $0 in 2010 to more than $550 billion when talking about the market cap. This is an increase of more than 1.5 million percent.
The cryptocurrency market has seen a 1000% increase in value this year. Everyone seems to want a piece of this fortune. Hence, things continue to get even wilder, with the prices skyrocketing.
Now, is it wise to invest in Bitcoin?
Over half of the world’s population is familiar with the market, but not all know the details and how to invest in Bitcoin or other currencies. They don’t even know that Bitcoin is more than just currency as well.
Here, we will help you to clear every doubt and make a decision in this market. Just remember that Bitcoin involves quite a lot, and we need to start with the basics before anything else.
What is Cryptocurrency? – Learning How It Works
First, you need to know the basics about this currency in terms of what it is. Then, move on to what it is specifically.
Therefore, you should be focusing on cryptocurrency and the fact that it is digital money that uses cryptography to protect its security.
This makes cryptocurrency difficult to counterfeit. It also includes features like anonymity, transparency, and a fixed supply.
While it shares many characteristics with other currencies, such as silver or gold, there are some key differences
in limited supply.
- The creators set the fixed supply of cryptocurrency coins. However, they usually have a cap and won’t exceed it. For Bitcoin, it is set at 21 million at the moment.
- It is not easily counterfeited.
- It is open-source code so that anyone can view it.
- It does not have any form.
- Cryptocurrencies are decentralized, which means they don’t rely on banks, nor are they used.
- It relies on public led.
The entire idea behind using them is to eliminate the centralized economy and have a fair share of the money. It is a bit utopic, but people aim to have a decentralized system with cryptocurrencies as the main characters.
Now, What Is Bitcoin? – Its History
Basic knowledge is that Bitcoin was the first cryptocurrency to be created in 2009 after the global financial crisis.
It can be used as virtual money, which allows you to pay immediately and without difficulties. This is because of how the system works.
Blockchain is the modern system that enables currency creation, distribution, trading, and even storage. For cryptocurrencies, usually they all have their own blockchains. Bitcoin is the first one that followed this logic of blockchain + native token (BTC), which we know as the currency.
Moving on with some history, it all began on August 18, 2008, with the domain name “bitcoin.org.”
Satoshi Nakamoto announced Bitcoin as a digital cash system. It works peer-to-peer without third parties. The open-source characteristic, which was followed by other cryptocurrencies later, is what makes the difference.
It then began making history on January 8, 2009, with its software, and the first Bitcoin was mined the following day.
It can be confusing to see how Bitcoin has changed in terms of its value and how it affects business today.
In fact, many people have masterclasses and courses about Bitcoin and everything it involves, but we won’t be doing that here.
Instead, we have come up with a way to show you a short yet very accurate timeline about the currency and bitcoin network:
- Bitcoin’s open-source code in 2011 allowed it and other cryptocurrencies to rise, while foundations and organizations began accepting it for certain donations.
- It was already a well-known topic in 2012 when CBS’ legal drama “The Good Wife” featured bitcoins as its main subject. More companies and businesses accepted it outside of TV due to its growing market capitalization.
- With a total value of $24 million, bitcoin was the most widely accepted cryptocurrency for donations in 2013.
- Bitcoin was used more than just for cryptocurrency in 2014. It was seen as an alternative investment option and began paying dividends on stocks that were invested in Bitcoin or another cryptocurrency.
- The rise of cryptocurrency and cryptocurrency trading platforms (online platforms that allow cryptocurrency to be traded) was evident in 2015. Over 100,000 Japanese retailers accepted Bitcoin.
- The average bitcoin value was $434.46 in 2016.
- Bitcoin’s value increased by over $900 in 2017 alone due to the increase in Bitcoin’s acquisition and decentralized benefits.
- The value of Bitcoin soared to the moon in 2018, and the total price paid for the year was more than $14,000.
- It saw a drop in price between 2019 and 2021, but it returned in 2021 (despite all the difficulties and polemics), at $63,349.81 as of November 2021.
Many don’t believe how ballistics this currency has become over the last few years. In fact, no one believed it would rise to the top or almost the $70k in less than a month when it was about $40,000.
Of course, there’s more than just the price. However, people can’t avoid feeling worried and excited about this aspect the most.
Bitcoin Details: Don’t Forget These Factors
This cryptocurrency was created not to be worth thousands of dollars but to create a digital alternative to the centralized system.
It was quite ambitious, considering the main goal of it being used for any type of payment.
It’s not easy to get Bitcoin, at least not if it isn’t possible to pay for it in the blockchain.
You can get bitcoin through cryptocurrency exchanges. However, you will need to mine it, which means that you will need special hardware. Or you can go through fractional reserve banking, where the bank lends out more money than they have.
You can also sell and buy bitcoins via cryptocurrency exchanges such as Coinbase, Binance, and Cex.
Remember that cryptocurrency transactions are all recorded in a public ledger (blockchain), and this is what you must keep in mind with cryptocurrencies overall.
Now that you know where to buy and how it works (in essence), will you invest in it? Is it worth it?
The cryptocurrency market is volatile and highly speculative. There are no guarantees for your investment, and as Bitcoin is worth $60k+ right now, it can go down at any moment despite predictions.
Bitcoin is also associated with fraud and criminal activity because they are not backed by any government.
It has been known that cryptocurrency exchanges have had security breaches. This means that one person’s digital currency can be stolen, though it is not a common occurrence.
However, despite all the “cons,” it is an excellent option for those who are able to afford some purchases monthly.
If you ask us whatsoever, we feel like safety is more important than utility and how well you are able to handle the whole process.
While Bitcoins and other cryptocurrencies are a great option right now, they can still be dangerous in some situations.
Despite our personal opinion, it is true we couldn’t resist investing in it due to market cap and how everything is booming in no time. Also, when Bitcoin was recognized and even accepted by PayPal a few months back, we couldn’t just hold back.
In your case, we suggest you take a few minutes to analyze the investment.
You need to determine if this is going to be your next way to save money and have an emergency fund (or maybe become rich).
Or maybe you prefer to invest in something else with the money you have right now instead of depending on a volatile market.
Will You Invest? Take Note of This
Assuming you have set your mind in this investment option; we would like to help a bit with more details you should record in your hard disk (brain) and take notes just in case:
Bitcoin Payments Cannot Be Reversed
Bitcoin transactions cannot be reversed. EVER.
The person who received the funds can only re-fund them. You should only do business with trusted people or organizations that you trust.
Businesses need to monitor the information they provide to customers regarding payment requests. Although Bitcoin can detect typos and won’t allow you to send money to an incorrect address, it is best to have controls to ensure safety and redundancy.
Future services may offer more protection and choice for consumers and businesses.
However, despite the time it has been operating, the reversing option is quite tough due to the current system or operations in the blockchain.
Bitcoin Is Not Anonymous
Bitcoin privacy requires some effort. Transactions are permanently and publicly stored on the network.
This means that anyone can view the transactions and balance of any Bitcoin address (as we briefly mentioned before when it came to privacy). The person’s identity behind an address is unknown until the information is disclosed during a purchase or under other circumstances.
Bitcoin addresses should be used only once. Always remember that you are responsible for following good practices to protect your privacy.
However, this is quite a fail from the platform in not changing the common parameters of privacy like centralized systems.
Unsecured Unconfirmed Transactions
Transactions are not irreversible from the beginning. They get a confirmation score which indicates how difficult it is to reverse them.
Confirmation can take anywhere from a few seconds to 90 minutes. The average is 10 minutes. The first confirmation may take longer if the transaction is unusual or pays a low fee.
To explain this a bit better, you always have time to confirm a transaction, and the same for the one receiving or sending it.
This is the gap that Bitcoin provides to its miners and users to guarantee they are sure of the transactions. However, it can still free your tokens due to problems in the system.
Also, the fact that those unconfirmed transactions are pending until the time expires or you confirm them doesn’t make them secure. They are still in a “limbo” of where to go.
Bitcoin Is Still Experimental
Again, despite the time it’s been out, Bitcoin is an experimental digital currency currently in active development.
As Bitcoin adoption increases, each improvement makes Bitcoin more attractive but also presents new challenges. These growing pains can lead to increased fees, slower confirmations, or more serious issues.
Before making major investments in it, be prepared for issues and consult a technical expert. However, nobody can predict the future and this, again, is often the main problem.
Regulations and Taxes Imposed by The Government
Bitcoin is not considered an official currency.
However, you will still need to pay income, capital gains, payroll, and sales taxes for any value other than bitcoins in most jurisdictions.
You are responsible for complying with tax laws and any other regulatory or legal mandates issued to you by your government and/or your local municipalities.
Thus, you won’t be avoiding taxes since that’s, well, illegal.
Bitcoin Has Many Ups and Downs
The token and blockchain have shown to be quite volatile in terms of influencers.
If you don’t know, Elon Musk has quite a say and influence when it comes to the currency’s increases in price but also falls to almost a pit.
In the early years, Tesla’s owner had a lot to say about investing in decentralized cryptocurrencies like bitcoin since it was the top option. In fact, Tesla used to accept it as payment, but you read that right: USED TO.
Elon Musk announced over a year ago that he would stop accepting the currency because here’s another problem with it: It requires a lot of resources for mining one single bitcoin.
This means it isn’t a good option for the environment and, instead, affects it quite a lot.
Musk is known for supporting more ecological options and changed his perspective of Bitcoin for this reason.
When he announced that Tesla and other business ventures would stop accepting it, the cryptocurrency market cap and Bitcoin’s value went downhill in seconds.
Although other entrepreneurs and celebrities have mentioned bitcoin and influenced it, Elon Musk is the main face behind the ups and downs.
Talking about the ups and downs, the currency oscillates from prices quite a lot compared to other currencies.
What We Recommend
We won’t get tired of mentioning it. Bitcoin fluctuance is a problem when you want to invest in it. It is almost like playing Russian roulette.
If we went back to the cryptocurrency market in 2018, you would know it lost about $710 billion in 2018, and many people began to wonder if it was just a bubble that was about to burst. In fact, many people decided to stop investing in it for a while.
Experts believe cryptocurrencies will stay and remain strong for a very long time. As much as we share this thought, this doesn’t eliminate the fact that prices can change in the blink of an eye.
What does this mean for cryptocurrency investors? It all depends on the level of risk you are willing to take.
Cryptocurrency and Bitcoin, in specific, could be a good investment if you don’t want to lose money quickly and can tolerate price volatility.
However, there is always the possibility that you will lose everything. Cryptocurrency gains can quickly turn into losses.
If you do decide to take the plunge (which is a good idea if you are all right with the possible consequences, let’s not forget this statement), our cryptocurrency investment advice would be to diversify your portfolio.
It is important to invest in more than Bitcoin alone, even when it looks like the only one going up. In the end, it can crash, and if you diversify your options, you still have a second, third, fourth, etc., option.
Bitcoin is a good place to start, but it should not be your only investment. However, we recommend integrating it all the time, even if you learn more about cryptos and decide to bet on other tokens.
Now, do we think Bitcoin is foolproof and the best you can do? We are sure we have made ourselves clear so far. So, no, it isn’t.
Bitcoin buyers who purchased bitcoins at less than $5 should be happy right now. However, this is not true for those who are investing in bitcoin now since they are taking more risks and paying a lot of money for one.
We have to give this cryptocurrency boom the fact that one of the most striking features of Bitcoin is its digital feature. You don’t have to leave your house or office or rely on any central system to purchase and invest.
We agree that digital and technological advancements are the future of comfort and convenience and should be what you’re focusing your attention on right now.
We don’t agree, however, in that cryptocurrencies are at the top of it.
This Is OUR Best Option
We believe that local lead generation is more cost-effective and profitable than betting what you’ve got on bitcoin.
Bitcoin is a cryptocurrency that won’t allow you to manage your money as you like or be safe.
It can be frustrating and stressful. You don’t know how safe your investment is since the market cap and general prices change EVERY minute.
While we invest in Bitcoin and other cryptocurrencies, they are not our main focus when it comes to making money.
We find local lead generation easier and more efficient than you might think.
It takes work, and you won’t be rich in a few weeks or months. However, your ROI and fortune are guaranteed in the long run.
While you may be able to get a boost from cryptocurrencies and become rich in a matter of days, it is possible to also lose all your money very quickly, just as you can earn it.
Although local lead generation takes longer, it is safer. You find small businesses in your region, save their contact information and then reach out to them to build their websites.
After you’ve built every website, you don’t need to think about it anymore. Instead, you can forget that they exist.
For this business option, you just need to pick a niche or type of business to start. Make sure that the business requires your lead generation services, which are required by both small and large businesses.
There are two major differences between Bitcoin and what we suggest:
- To make it profitable or even start your business, you don’t need to spend a lot.
- You won’t lose your investment if you put in the time and work hard. After all, you don’t depend on a market or ups and downs.
- Lead generation is a great way to grow your business if you have a second one or even primary. Meanwhile, bitcoin is only for direct investment in money.
- There are no worries about market saturation or competitors. Local businesses are constantly opening (and not just local). This will ensure that you can continue to grow and worry less about your chances of becoming rich.
How Can You Get Started?
Local lead generation does not require any special knowledge or expensive equipment, like cryptocurrency mining tools.
However, you will need some skills to know how to build sites, rank them, and generate the leads that will pay your effort.
In this case, we can highly recommend this #1 training program that goes from the basics to making money with your first leads or more.
You will be able to understand the concept behind lead generation and why you should concentrate on local.
It will not take long to build a network of websites and get paid by the businesses you help. You can make thousands of dollars a month without even lifting a finger.
It’s normal to have a lot of questions, and we are happy to tell you that the answers are right here…
The Local Lead Generation Process for Your Business
All right! So, everything is about building properties and generating leads. But how does the process actually take place? Are there other steps I need to know?
The steps I mention below are what students from our local lead generation program follow to generate leads for businesses like yourself. So I’ll help you see what we do. And how if you join our program, you can simply generate leads for your own business (unless you want to start a side hustle and build a laptop lifestyle business).
Essentially, our lead generation can be divided into four steps:
The first is prospecting. You need to take the time to do market research on a niche (industry) and determine how many phone-driven businesses are there.
Keep in mind that this is local research as you need to know how many companies need leads. For example, you may search for “plumbing services Youngstown OH.”
You will find dozens or even hundreds of businesses trying to get themselves in front of the customers by ranking on Map Listings, organic results, and even Ad.
The second step, building. When you find a niche (plumbing, tree services, a software company, real estate…), you will need to start building your digital properties. You don’t need to be an expert in HTML or coding. It can be easy with the right tools.
The third step is now taking time to rank your lead gen website. With the site done, you need to work on SEO strategies and start dominating those Google search results. If you’re new to SEO, it stands for Search Engine Optimization.
To keep it simple, it consists of the entire process of growing a company’s visibility on search engines like Google and generating organic traffic. And remember this, local lead generation is part of the strategies.
Moving on to step four, once you rank the site, you will start getting your ROI and profits. You only need to rent it out to a local business interested in the leads the site generates. You can offer a couple of free leads to their move on with the actual pay per lead.
To review steps 1-4 above, I described it to a normal student who is building a lead gen business to help local service providers generate more calls. But replace the student with you as the business owner. And replace sending the leads to a business to simply siphoning the leads to your personal business.
By the way, fun fact, about 20% of our students in our local lead gen program are actually business owners who went through the program. And they use the skillsets we teach to generate leads for their own business.
An Example of Lead Generation: Home Advisor
You must be thinking, “if lead generation sounds so good so far, how come I haven’t seen any company?” That’s the thing; there are many out there. You just don’t know they are dedicated to it.
HomeAdvisor is one of the best examples you can find on the Internet as it is a top lead generation company that has spent millions building its brand but also earned even more zeros for this same reason.
They started small as everyone else but invested in building their brand awareness to make people who are looking for home services go to their website and find what they need. They are over 75% of people’s first choice when they need those services.
If you don’t get HomeAdvisor that much or need a refresh, users need to submit their information to request a service and get a professional or expert who can provide it.
HomeAdvisor’s job is to share your information, which makes you a lead, with local companies so they can contact you and offer the service you’re requesting. For sharing this lead information, HomeAdvisor gets paid by the companies. This happens for every single lead they send to multiple businesses.
Business owners who don’t have marketing skills or don’t even know how to have any online presence will always rely on those pages to list their services. They will save time and effort, but companies like HomeAdvisor can make them spend lots of money as leads aren’t exclusive (one lead is sent to multiple companies after all).
Using Facebook Ads aka Paid Ad Platforms: Do They Generate Leads?
They DO generate leads. If not, no one would use them.
However, you need to remember two facts:
- Paid ads or platforms can be expensive.
- They don’t generate “natural” leads.
Whenever someone sees or clicks in one of those ads, over 80% of them did it by accident or are trying to close/report it.
Why? Because they aren’t looking for those services. At least not at the moment.
What those ads do instead is interrupt their time on the platforms. Users aren’t there to find companies or businesses unless they are searching for a specific company’s user, and for that, there’s a search bar. This is why it is hard to convert them to actual customers who will show interest in the companies’ services. Also, you’re limited by a budget.
When using lead generation, everything is organic. You aren’t forcing others to pay attention to your business but rather being there when they need you. This is why Google’s organic traffic will always beat paid ads, and the reason companies continue investing in it, which is a lot cheaper as well.
What Is Local SEO?
Don’t worry… I didn’t get it at first either. Following the short explanation, local SEO focuses on scaling businesses’ visibility on search engines. However, this is only for those who serve their communities face-to-face.
What does this mean?
Experts and professionals like painters, plumbers, and dentists (but not only them) offer their services to their local customers. Why? Because they can’t deliver them unless they are located in the same area of their customers.
To make sure those businesses get more leads, you need to rank them locally by claiming the business listing on Google to place them on Map Listings. Local SEO also involves online reviews, citation management, and how you manage your entire online presence in the local area.
If you are going to bet on lead gen, you need to adapt yourself to today’s world: The Internet.
Keep in mind that although traditional channels and methods like billboards, warm calls, and pamphlets still work, they aren’t part of your tools. Whenever someone needs a service, they go to Google and search for it.
“Dentist in Miami” or “plumbing services in Orlando,” etc. And you can keep coming up with services or professionals people need and look for. Thus, you need to make sure you’re using Google to get the companies in front of their clients.
Users will always click on the first search results (those near the top), and many of them will be either Ad links (people paid to place their websites there), Map Listing, and then you get websites. Almost all of them are your goal and where you should always aim to place yourself.
Can My Business Utilize a Local Lead Generation Strategy?
If you want customers, you better know you need it. Following the previous explanation, lead gen is all about placing businesses in front of their customers, choosing them over their competitors.
Put it simply – it’s all about closing deals and having clients for those companies to make money. The main difference with the usual methods companies use for this is how lead generation approaches different channels to get them in the right place of the market to get customers.
Those channels are all focused on the Internet as most people are searching for products but also services across the net. The issue is that the Internet is way too broad, and businesses don’t know how to place themselves. They usually try, but they get one common result: losing money and time.
How Powerful Are Organic Leads from Google?
For companies looking for customers, it’s everything. For you? Pretty much the same. When you build a business with digital properties, you get to make thousands of dollars a month.
This isn’t a “get started today and get rich tomorrow” thing, but it is HIGHLY scalable, and ROI + positive results are guaranteed. Learning a fairly decent and very needed set of skills to create your digital properties and start ranking them on Google is required.
I have invested in several online businesses over the years, and if there’s something uncertain, whether you will get your ROI or not, even more than the actual profit.
However, this business moved my earnings from five figures a year to a month in ONLY passive income while sitting comfortably at home.
On my laptop. Anywhere. Anytime.
You can look at one of the first sites I built back in 2016, and it continues making me over $1.000+ every month. The best part is that I don’t need to touch it or the rest I’ve built over the years, just like this digital property.
What Makes Lead Generation SO Alluring?
Here it goes: you can work from home.
The main issue with regular business opportunities is how much you need to invest in staff, equipment, or rent to have a place to sell your products or offer your services.
We all know the hassles of traditional businesses that involve regular expenses, which are extremely high. Can you afford it? I don’t think so, and even if you can, is it worth it? Now, it isn’t only about the money. You also need to put in a lot of work, and it isn’t only during the first couple of months or years. Usually, it is as long as you continue running it.
You can save yourself those headaches and bone-breaking tasks and expenses with lead gen since it is more about generating leads with digital channels—mainly websites.
Websites can be VERY cheap to build, and with many tools online, you get to do it in a couple of hours instead of days. Any virtual or digital business is scalable and won’t need constant maintenance.
So, let’s summarize this:
- You save money in regular expenses with traditional and most online businesses as what you need is yourself and digital properties (websites).
- You can bet on passive income.
- There’s no need to hire more people to get started.
- You can generate leads in multiple industries, which allows you to work on any niche you want.
How Can I Get Started in the Local Lead Generation Program?
Anyone can start and learn. That’s the beauty of this business model. I knew nothing about SEO, Map Listing, and everything I’ve mentioned so far. It is all about learning the skills, gaining experience, and deciding to take the step.
Remember that this business model will never get old as business owners are always looking for leads. They need to do business and scale their companies. Why not do the same while helping others and still making money?
You can start with this local lead generation course highly recommended for anyone wanting to grow in the business. It is a close training that will take you through each step and make sure you are able to get your ROI, profits and take control of your life.
You will be added to an incredible lead generation family ready to help you 24/7 when asking questions on the group. Anyone is welcome who’s willing to put in the work. Click here to watch the lead gen webinar.