Following my post on a unique way of investing in the digital currency trend, I have got a question from quite few friends asking how to buy the GW tokens. I thought it would be easier that I simply describe the process here for those who are interested in.
First of all, of course you need to sign up via the GW website to create your own account. The link is here. After you open an account, you can select how to buy the GW tokens via Bitcoin, Ether or US$. At the top, if you select the $, you can decide
how much you want to deposit. After that, you should generate an invoice
that will give you detailed instruction for wiring. The money will be
held in a legal trust account for your safety. The instruction dose not
give the legal firm's address. Not sure if all the banks ask for that
but my bank requires it. Here is the address for Perkins Coie LLC, a pretty well known legal firm: 700
13th St NW, Washington, DC 20005.
After the money is transferred, it appears there is a one day delay
for the money credited to my GW account. I guess because it takes time
for GW to get the confirmation from the trust account. Then you can buy the tokens with the available fund. That's it!
I also got some questions whether now is the time to buy digital currencies (DC) like Bitcoin (BC) or Ether etc. As I said, currently there is a frenzy type of rush that has pushed the DC to their historical highs. Buying now is certainly with some short-term risk as DC is notoriously volatile. But there is no guarantee that you would necessarily get a much lower price if you are waiting for. We are entering an unchartered water and DC prices could go crazily higher in the years ahead. For example, after BC hit its all time high over $2750 a week ago, it dropped down to $2000 within days. But then it started to fight back again and is trading hands around $2650 as I'm writing. Will it go down again to a much lower level or it will simply go up to much higher levels? I certainly don't know. So directly buying DC like BC needs a strong stomach. That's why I'm so excited to learn this renting business in the DC mining sector. Similar to rent a house to someone who want to use it, the day to day house price changes won't have much impact on the renting business, correct? As long as the overall trend is up, you don't need to worry much about the short term property price fluctuations. Same here with the GW token renting business. You basically rent out your tokens to others who wants to use the GW mining services and you will get paid regardless if the one who rented your tokens could successfully mine to get the BC or not. In addition to the rents the token holders can get as regular income, I also see a good potential for the value appreciation of the token itself down the road. If the Bitcoin frenzy continues which I'm personally very sure about, the interest to directly mine the BC will only go up. With limited quantity of the GW tokens available but the demand for it may go up, potentially a lot, the token value should also go up with it. That's basically the supply vs demand logic. The fact that the company will increase the token price after the first 2 weeks and by 20% at most towards the end of the launch period (2 months in total) tells me that this is already the expectation foreseen by the company. I'm pretty excited about the potential here!
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