My financial philosophy is to grow wealth over time. BitcoinSmartMoney is not about selling you services, worthless newsletters, or sign up for marketing mailers. I don't claim there is any fast way to making lots of money (unless you of combo having some good fortune and having a good strategy to begin with).  Other than that I am a proponent of diversification through indexing a S&P 500 fund like VOO in 401k/IRA until you are 65.   I also support Bitcoin being a part of each and everyone's portfolio as we move further into the digital payments world. I genuinely want to share in order to help people prepare their day to day life's & financial future.

For beginners Coinbase could be the best service out there.  You need to setup an account like you would a normal bank account. From there once your account is ready it does offer a few services new users can take advantage of.

Reasons to use Coinbase

1)  Easy way to obtain a few dollars or a few thousand dollars

2) Fast & User friendly

3) Can setup daily or monthly bitcoin buys

Reasons not to use Coinbase

1) Relying on a third party

2) Know Your Customer requirements

3) Must track 100% accurately bitcoin purchases because when you transfer coins off Coinbase those coins are subject to capital gains tax.

If your familiar with Bank of America's save the extra change program, Lawnmower isn't any different from that formula.

Lawnmower will take the rollover amount to the next dollar and purchase bitcoin when you have rolled over enough dollars to make a buy (can be even $5).  You can even up the ante by using a multiplier to make more automatic investments.









Its a good strategy for a long term user or anyone who supports the idea of cost averaging and automatic savings.  I know I used it for a while and did very well over the Summer of 2015.  I used the minimum buys and maxed out the multiplier for 6 months.  I do caution it will add up and spend a lot of your checking account if you do not keep in check.  But the rewards can be big for automatic savings. I encourage anyone that wants to put their toe in the crypto currency waters to try this out.

Managing a few wallets can be a good idea if you are looking to maximize the percent savings for individual purchases.

For instance in April you purchased 2.5 BTC with a cost average of $500.00 when the coins rise in value 5% or to $525.00 in value per coin then you can use that wallet to make purchases for an additional realized savings.

Keep in mind that the value is not always going to go up so if that's the case after 30 days you can start a new wallet (most wallet software makes managing multiple wallets a piece of cake).  If you reach an amount and the value keeps going down I would advise to only invest what you can do without for a time being because unless you want to use those funds at a loss you should be holding them until they reach your magic 5% usage amount.

During the bear market of 2014 and 2015 I employed this strategy and most of the time just kept adding to the wallets because using bitcoin at that time was not worth while but believing in the technology and continuing to build the portfolio 2014 and 2015 allowed some spending to happen in 2016 and 2017 that led to some great savings.

Patience is not the ability to wait
But how you act while you're waiting