#Bitcoin 1-Week Candle Chart

Seriously, look at it. It's glorious.

Dividend Income Update - December 2016

Ahhh, yes. The end of another year! And, time for another dividend income update.

The end of 2016 marks the end of my first year with actual skin in the game. It also marks the first time I have posted my income updates on this blog. I plan on doing these monthly from now on as I open more positions and increase my trading frequency.

Anyways, I am really pleased with how my portfolio has performed this year and I'll be cruising into 2017 safely in the black.

I didn't open any new positions or add to any existing ones because I was too busy to do my due diligence. Instead, I added some cash to my balance so I'm ready for the sweet buying opportunities which will surely arise in the new year.

I'm currently sitting 81.1% in stocks and 18.9% cash.

My long-term portfolio can be found here.

Starting early 2017 I plan on trading a lot more frequently. I will add another page to monitor those trades at that time.

Dividend Income for December: $9.30

Individual payments are broken down as follows: 

• ALA - $0.88
• BEI.UN - $0.94
• CIX - $1.15
• FTS - $2.00
• MFC - $1.85
• TNT.UN - $2.48

I'm excited to continue to build my passive income in 2017 and I plan to open several long-term income positions within the next few weeks. 

Some companies I'm investigating further as future additions to my portfolio are HBC, VSN, PKI and FFH. I might also increase my long-term position in FTS. 

What do you think? I'd love to hear from you if you happen to stumble across this blog and read this far. Hit me up on Twitter @masontrades and don't forget to subscribe by email for future updates.

Happy New Year!

Thoughts on the Bitcoin Bull-Run

Who's keeping up with the bitcoin bull-run?

The past few years have been an interesting ride for bitcoin traders and many have given up the cryptocurrency altogether in search of better yields.

However, those who continued to increase their bitcoin holdings instead of giving up should now be sitting pretty on a nice percentage increase. In fact, prices are up more than 100% since the beginning of the year leading Market Watch to declare bitcoin the best performing commodity of 2016.

The price of bitcoin has rebounded from 2014 lows of around $250USD to reach its highest price of $874.10USD this week. Furthermore, bitcoin's market cap has grown substantially through 2016 to over $14 billion.

You can keep up to date with the price of bitcoin by heading over to Bitcoin Wisdom.

What has been the catalyst for the recent highs?

With fear and uncertainty on the rise in 2017, investors are turning to bitcoin as a safe haven for their capital.

Experts are pointing to widespread global turmoil, an increase in adoption among professional traders, and devaluation of the Chinese Yuan as just some of the reasons for the increase in price and market cap.

Institutional investors are also playing their part as bitcoin becomes better recognized as a solid commodity.

You can check out the Bitcoin Investment Trust or Investopedia's explanation of the Winklevoss Bitcoin Trust for more information on institutional investors and the bitcoin market.

What happens next?

Who knows!

I could see this bull-run continuing into the new year as more people jump into FOMO mode. However, anyone who was riding those parabolic price moves back in 2013-2014 knows bitcoin is a spicy mistress and she can plummet just as quickly as she rises.

If you are considering buying into the bitcoin market now, you should be very aware of the risk.

How To Buy Bitcoin

Recently, a handful of people have come to me with the same question:

"How do I buy Bitcoins?"

There's been a lot of hype around Bitcoin this month due to some incredibly bullish price action, the upcoming block reward "halving", and rising concerns about the health of the global economy.

People are looking for safe havens to store their assets during tumultuous market conditions. Just like when investors flock to gold during times of market uncertainty, cryptocurrencies are now gaining popularity as a safe store of value.

Here's my 5 step action plan about how to buy and store your Bitcoins. The process may seem daunting at first but it's just like opening a bank account.. only easier... and there's no bank.

Step 1: Get yourself a Bitcoin Wallet

Picking a wallet is the first (and most essential) step to buy and selling Bitcoins. Forget all you know about traditional banks, with Bitcoin YOU are your own bank.

It is imperative to pick a solid wallet because if your wallet gets hacked or you forget/lose your private key then your Bitcoins will be lost, and you'll have no one to blame but yourself.

Set a strong password and make sure you save your recovery info in a safe place.

I use Blockchain.info as my wallet because it's safe, reliable, and easy to use. I also used several others, some of which are still operational, and some not so much.

Blockchain.info is a good place to start because they are also a hub for all blockchain information so you can watch transactions as they happen and learn more about how it all works.

The downside to Blockchain.info is that you're still not technically 100% in control of your coins since you're trusting a third-party to be your wallet. For many people this defeats the whole purpose of owning Bitcoin.

If that person is you, I would recommend you download the Bitcoin Core wallet or MultiBit HD.

Both give you complete control over your coins and are easy to use. However, if you go with the Bitcoin Core then be prepared to have up to 65GB of hard disk space to download the blockchain.

The wallets are only as secure as your computer so make sure you have malware protection.
A full list of available Bitcoin wallets can be found at the Bitcoin.org website.

Step #2: Open An Account with a Bitcoin Exchange

There are plenty of exchanges to choose from and it really comes down to your preference. Make sure you do your due diligence before choosing an exchange because there have been issues in the past where customers lost millions due to fraudulent exchanges.

If you live in Canada I would recommend QuadrigaCX.com as your first exchange because they offer great customer support, ease of use, and top-notch balance protection. There is always plenty of bitcoin available to be bought or sold and the spread is pretty tight.

QuadrigaCX is based out of Vancouver, BC and they offer instant Interac Online deposits plus a multitude of other methods to get your account funded. However, you do need to verify your account to access all the deposit features. Click the picture to go to the Quadriga exchange.

Step #3: Fund Your Trading Account

You must complete two steps that will allow you fund your account if you go with QuadrigaCX.

Step 1: Verify your account using either ID & address verification or through an Equifax instant verification.

Step 2: Use one of the following deposit methods to fund your account.

Step #4: Buy Your First Bitcoins

Once your account has been verified and funded you will be able to buy your first Bitcoins. If you decide to use QuadrigaCX there are two different way to buy and sell coins.

The first is a straight market order. You input how many Canadian dollars you want to use and then push the "Buy" button. Your purchase will be executed at market price. 

The advantage of market order is your order will be executed immediately. However, you will not be able to choose your exact entry point into the market.

If you want have more control over the exact price you want to purchase your Bitcoin choose the "Trade" tab and you will have complete control over your purchase price. Although if you choose a price below market your order will not execute immediately. 

Once the price drop to your price point your order will execute.

Step #5: Transfer Your Bitcoin to Your Wallet

This is an important step because one of the defining features of Bitcoin is that it allows you to be in complete control of your coins. 

Your wallet is like your bank account only without the bank.

It is important to keep any Bitcoin you are not actively buying or selling in a secure wallet. DO NOT leave it in an exchange account because anything could happen to that exchange which is completely out of your control. You could lose all your Bitcoins.

If you are using QuadrigaCX then follow this simple process to transfer your coins to your personal wallet.

Step 1: Go to your Bitcoin wallet and find your wallet address.

If you used Blockchain.info your wallet address will be generated by clicking the "Receive" button on the dashboard. 

Copy the address the pops up onto your clipboard so you can paste it into the withdraw form on QuadrigaCX.

Step #2: Choose the "withdraw" Bitcoin option on your QuadrigaCX dashboard.

Enter the amount you wish to withdraw and paste your wallet address into the "Address" field on the withdraw form. Click "Submit". 

The transaction should be completed almost immediately and your coins should show up in your wallet.


Once your Bitcoins have been deposited into your wallet you can sit back with a smile knowing you are now a Bitcoin holder. 

However, the Bitcoin market never closes so make sure you understand the price could fluctuate significantly even while you sleep.

Three good sites that allow you to easily keep tabs on the price of your Bitcoins are:

Bitcoinwisdom.com
Cryptowat.ch
Preev.com

Finally, since you are now a Bitcoin owner you should learn as much as you can about this amazing technology. A good place to start is CoinDesk for all cryptocurrency news.

Thanks for reading and feel free to ask question or comment below!

5 Essential Books about Building Wealth

To build wealth one must read many books.

"You cannot open a book without learning something."-Confucius

Regularly reading books is important for building wealth and maintaining a prosperous life. 

Trust me, you can't rely on the public education system or even your own parents to teach you about how to live a wealthy life.

They all have it wrong!

They are teaching you the wrong things about how to get wealth and maintain it.

Kids are taught from the start to be obedient subjects that will eventually run the cogs of the machine we call "Society". Yet upon graduation find that they are facing a lifetime of money issues due to lack of education about money.

To make matters worse, parents hand down their own bad money habits to their kids.

Teachers don't have a clue.

There doesn't seem to be anyone teaching young people how to live a wealthy life, free from the 9 to 5 grind, and free from financial oppression!

The only way to find out how to get wealth is by either finding a mentor, or reading plenty of books on the subject of wealth and money.

I compiled this list because I found these books really helped me to understand money and how to build wealth when there was no one else around to teach me. I only wish I found these titles sooner!

#1. Rich Dad Poor Dad: What The Rich Teach Their Kids About Money - That The Poor And Middle Class Do Not!

By Robert T. Kiyosaki

Essential reading for anyone who wants to live a wealthy, prosperous life. Kiyosaki explains the foundations of building wealth so easily that a child could understand. He challenges some major financial beliefs, and overturns many misconceptions about how to be the"rich dad".

#2. Secrets of the Millionaire Mind

By T. Harv Eker

An excellent interactive book that is jam-packed with knowledge and positivity. T. Harv Eker is a successful guy, and anyone who is committed to realizing prosperity would be foolish to skip his book. Pro Tip: Do the Declarations! They actually work!

#3. The Wealthy Barber: Everyone's Commonsense Guide to Becoming Financially Independent

By David Chilton

Great book for those who appreciate the phrase, "slow and steady". Chilton shows readers how to grow their wealth, even if they don't make much money.

#4. The Millionaire Next Door

By Thomas J. Stanley and William D. Danko

How do you become wealthy? Stanley and Danko have interviewed hundreds of millionaires to determine what makes them tick. They will explain it to you by using seven simple rules anyone can master.

#5. Think and Grow Rich!: The Original Version, Restored and Revised

By Napoleon Hill

One of the most widely acclaimed, influential books on success ever published. Napoleon Hill interviewed hundreds of successful men and women, and in this timeless classic, he reveals the secret to their great achievements. If there is one must-have guide you need on the road to high achievement and success—to real riches in every aspect of your life—this is it.