Forex Income System/Setup
*Passive Profit Systems*
This is the next step in the process of setting up your Forex Income System.
Step #3: Purchase Crypto/BTC
You will fund your broker account(s) with crypto currency, bitcoin specifically.
Bitcoin is simply used as an easy/secure funds transfer method. Your broker will not hold your funds in bitcoin, they will immediately transfer it to USD (again bitcoin is simply used as a funding/transfer method).
There are many places to purchase bitcoin (BTC) however we recommend the following.
With your initial bitcoin purchase(s) you'll have to go through a customer verification process, providing proof of identity; this can take some time [and must be done on a laptop or desktop computer] making it easy to scan and upload your drivers license or passport.
Once your account(s) are verified; you'll be able to add payment sources such as your bank account or credit cards, etc.
You'll then be able to purchase Bitcoin (BTC); each person will have different limits of how much they can purchase in one transaction; over time as you build trust with the platform, you'll be able to increase your purchase limits and reduce your wait/delivery times.
YES it can take some time (weeks even) to be fully vetted and approved to purchase Bitcoin; even if you can only purchase $2K at a time, you just have to follow the limitations and schedule imposed and continue to purchase until you have the amount of BTC you desire.
NOTE: I highly suggest (for trust purposes with the different bitcoin purchase platforms) that you purchase smaller amounts at first, say $500-$2,000 max; as opposed to trying to do 10K+ right up front all at once. AND when getting comfortable with sending bitcoin, you may want to only send say $100 for the first transaction or two to confirm you are doing it right.
A BTC address is alphanumeric. This is an example of a receiving address: 3FZbgi29cpjq2GjdwV8eyHuJJnkLtktZc5. A common question is how to get a BTC address. Each wallet automatically generates a bitcoin address. When transferring funds you'll simply be sending TO; or receiving FROM; a bitcoin address (from one wallet to another).
Example: when sending funds from Coinbase to HugosWay, HugosWay will provide a BTC address to send your funds to; this will be your HugosWay wallet address. You'll simply choose to send on Coinbase and provide the HugosWay wallet address that was provided when you chose to deposit funds.
*please note, if you have never purchased bitcoin and you have zero bitcoin purchase history then there is typically a funding wait period when you do purchase from 1-14 days. This is typical for a first time bitcoin purchaser. It can make sense to purchase BTC from several sources at smaller amounts (say, $2,000 at a time) to speed up the broker account funding process.
Fund Your Broker Account
Once you have funds that are ready to transfer/release to your broker; here are the steps.
Each broker is slightly different, yet the concept is the same.
At your chosen broker, choose to create a live account (you may have already done this when setting up the broker, however many times you cannot create a "live" account until after transferring funds into the broker account).
When you transfer bitcoin BTC into your broker account, it will be deposited (or you may have to choose) into USD - DO NOT choose to transfer your bitcoin into bitcoin on your broker account, NO you'll want USD instead and you'll have that option when transferring.
On your first BTC transfer into your broker, you may want to do a test with$100 first, just to learn the bitcoin address and transfer process.
When funds are transferred into your broker, they will be in the "wallet" and not directly into your trading account; most brokers require you to first transfer funds into your broker wallet and then internally transfer into your specific trading account.
NOTE: when creating a live trading account, you will be given account details immediately on screen (Coinexx) or your account details will be emailed to you (HugosWay), either way you need to record this crucial information for yourself (account number and trader password). For example if you are shown the account information immediately on screen, you may not see that information again, so recording that is crucial.
This process is complete when you transmit your specific "live broker account details" (account number and trader password) to us [Contact Page Here]
Trading will start within 24 hours of receipt of your broker "live account" details.
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