Unique calculator shows how quickly you can acquire 1 bitcoin on a cryptocurrency exchange if you stop smoking today.
It is no secret that Bitcoin and other cryptocurrencies are highly speculative and volatile assets that have left a lot of people broke while allowing others to make small life changing fortunes. No one can tell exactly what the full potential of Bitcoin is, while at the same time many agree that it has lots of upwards potential. But what if you could acquire what most deem as the future of money, Bitcoin, simply by steering yourself and your life into a more healthy lifestyle?
Thanks in part to a unique smoking vs acquiring bitcoin calculator created by the team behind the world’s fastest growing simulated cryptocurrency exchange and community Niffler.co, you can now find out how quickly you could acquire 1 bitcoin if you quit smoking as early as today. The calculator is simple to understand and simple to use and works by asking you to provide only 2 parameters. This criteria is then used to determine what you are spending on cigarettes vs the current price of Bitcoin.
The first parameter is the amount of cigarettes (by pack) you consume per day, while the second parameter is your country of residence, yes the calculator takes country of residence into account as each country has different prices per pack of cigarettes thus giving a far more accurate result. Given that information, the calculator is then able to figure out the average cost per pack of cigarettes in your country and map it to the real time market price of Bitcoin based on Coinbase prices. As a result you receive the time frame during which you should be able to buy your first bitcoin.
Not a smoker? Not to worry, you can still can explore the data and more importantly you can easily share the calculator directly from the site to encourage those friends who you do know smoke as a way to show them how much money they are potentially losing through their bad habit. As much as the calculator is an interesting and fun way to help sway people to quit smoking the campaign behind it has taken on a life of its own and you can now also join the #quitsmokingforbtc campaign that is currently going viral on Twitter and other social media platforms such as Facebook, Reddit, LinkedIn, Steemit and so on.
What many investors and people still do not know, despite the fact that Bitcoin just celebrated its 10th Birthday in 2018, is that Bitcoin is a highly divisible asset that can be purchased in tiny fractions. Despite the fact that Bitcoin is a highly divisible on the blockchain, many of the cryptocurrency exchanges still have minimum order limits in place which vary from $2 to $10.
These minimum price points and technical measures simply come from exchanges themselves not having enough server power to handle all the trades on cryptocurrency exchange and therefore need to implement minimum order amounts to reduce the administration expenses through the cutting of micro trades from the order books. Having this knowledge about these small limitations when it comes to purchasing Bitcoin should not stop you from participating in this challenge as in majority of the countries a pack of cigarettes cost much more than the minimum trade amount allowed on the exchanges.
If you still lack motivation to start this challenge as a part of your 2019 resolution it might help you to know that Bitcoin is halving on the 25th of May, 2020. What this means is that the amount of Bitcoin being mined per day will be cut in half which naturally will also decrease the overall inflation of this particular crypto asset. Through experience and knowing the history of Bitcoin, history has shown us that this event has always resulted in a price increase only a few shorts months post any previous halvings. So take note that regardless of your cigarette budget in the future, missing out on the next halving might be too little to late to help you on your journey towards Bitcoin ownership.
This is yet another reason to say that there is truly no better time to quit and start accumulating Bitcoin than now.
And it would be irresponsible of us at Niffler.co as a cryptocurrency exchange ourselves, albeit simulated and without risk, if we also did not to mention to those who are new to Bitcoin and cryptocurrency buying, selling and trading, that the number one rule to know is, never keep your bitcoin on any cryptocurrency exchange no matter how secure it claims to be or others tell you it may be. Cryptocurrency exchanges get hacked all the time, 2018 was perhaps a record setting year for just that.
It’s okay to hold a small amount of crypto that you are not afraid to lose on an exchange but anything substantial should be moved to a hardware wallet, be it something like a Nano Ledger S or a Trezor. And last but not least, please always do your own research and only invest capital that you can afford to lose.
As many know and believe the future of money is heading towards a cashless society and knowing how to deal with a finite digital asset like Bitcoin will always be a bonus as owning even a small crumble of the Bitcoin pie may be a blessing in the future not just for your pocket book but also your health.
The post Quit Smoking vs Buying $1 BTC On Cryptocurrency Exchange – Calculator appeared first on ValueWalk.