How Do I Make Money With Bitcoin?
Here are the best seven ways of learning how to earn bitcoins:
Trading
Investing
Mining
Micro earnings
Accepting Bitcoin as a payment
Lending
Affiliate earnings
Method 1 – Trading
Trading Bitcoin for banking profits is one of the most popular answers to – how do you make money with Bitcoin?
If you have a knack in analysing trading charts and you are ready to take risks, thi
The icing on the cake is Bitcoin trading is available 24×7 so that you can trade at your convenience (obviously when profits soar high). Talking about convenience, our crypto trading platform
If you are less risk-averse, intra-day trading and arbitrage opportunities are made for you. Arbitrage means buying the same asset at a lower price and selling it at another platform while banking profits.
Your profit margins in Bitcoin trading completely depend upon your dexterity of analysing charts and reading market situations. You can leverage Zipmex trading tools to gain more clarity about your trades.
Method 2 – Investing
Investing in Bitcoins is holding BTC until the iron becomes hot. HODL (Hold On for Dear Life) is the crypto lingo for long-term investments. If you believe in the positive future Bitcoin and are sure of its price surge, you must opt for investing. However, HODL investment must not be tied with fancy expectations.
You must know when is the right time to sell. If you are eyeing for long-term investments, you must keep your Bitcoins in a hardware wallet.
Are there some different options apart from buying-Bitcoin-and-then-selling-it kind of investments?
Yes, you can also make money with Bitcoin by investing in startups, companies, blockchain development, etc. These are research-intensive investments. You have to gauge the potential of a startup by analysing white papers, expert opinions, market demand, and whatnot. However, if you get this investment right, you will not just make some dollars with BTC; instead, you might hit a treasure chest.
The downside of investing is you have to hop between different exchanges to find the right investment opportunities.
Method 3 – Mining
Bitcoin mining is the process of adding new blocks to the Bitcoin blockchain network by solving cryptographic puzzles.
If you have the technical know-how of mining and the luxury of high computing power, then mining is worth your effort. Bitcoin miners earned huge fortunes in the initial stages of this crypto revolution. However, today individual miners can hardly compensate for their electricity bills by mining Bitcoins.
Does this mean you can’t earn money with BTC mining? Not at all, there are cloud mining services where you have to pay once, and that’s about it. You don’t need to mine, nor you have to worry about your rising electricity bills.
Cloud mining services involve renting mining equipment for other miners so that they can mine for you. You have to invest once, and you will keep receiving your share of the cake. Before pouring your hard earned coin in a cloud mining company, verify it’s credibility as spam is at an all-time high in the crypto space.
To put it all together, mining is still profitable if you know how to do it the right way.
Method 4 – Micro Earnings
Save and Earn From Bitcoin
As the name suggests, micro earnings will not yield a fortune; however, it is a decent way to make a profit if you know what you are doing.
Micro earnings sites reward you with very tiny amounts of Bitcoins – Satoshis. To put things in perspective, one Satoshi is equivalent to 100 millionth of a Bitcoin. Thus, watching an hour-long ad will earn you anywhere between 0.04 USD to 0.05 USD. If you want to earn some easy money while killing your free time, micro earnings faucets are the go-to place.
Method 5 – Accepting Bitcoin as a Payment Option
You can earn money with BTC by accepting it as a payment option. Be it a small vendor or behemoths like Starbucks; everyone is embracing bitcoin as their payment option. So, if you are a seller or planning to be one, it would be wise to integrate bitcoin into your payment ecosystem.
Accepting bitcoin as your payment option opens the world for you. You can accept payments from every corner of the world and that too with lightning speed. You don’t need to depend on third-party services for processing your payments; all you need is a bitcoin wallet – it could be a new one or an existing Bitcoin wallet you own.
Also, to avoid losses, set your prices, keeping the bitcoin volatility in mind.
Method 6 – Lending
Instead of making money with bitcoin, why not let bitcoin make money for you?
By lending bitcoins to other people, you can earn interest on your bitcoins. Holding bitcoins will not make any money. Instead, if you lend them to someone, your bitcoins will earn for you. This is indeed better than holding bitcoins as holding could prove no less of a gamble.
You would not want to lose your bitcoins, would you? To avoid spam, trust your bitcoins with a credible lending platform. Unchained Capital, Bitbond, and BTCpop are amongst the trusted lend-and-borrow platforms. These platforms offer interests of up to 15%.
Method 7 – Become an Affiliate – Earn Bitcoin
It’s time to leverage your social media followers and earn. By being an affiliate to a cryptocurrency company, you can make large sums of money.
You have to sign up for a cryptocurrency affiliate program and promote their products for a commission. You will be receiving commissions depending on the customers you create for that particular company. The affiliate programs will provide you with a specialised affiliate link; this will track your performance. For every customer buying (signing, depending on the program) through your link, you will receive a decent commission.
If you have a good network and can convince people, you can earn a fortune with the affiliate programs by telling people how to earn a bitcoin. All you need to do is share the link on your social media handles and websites while promoting the product.
Also, it is necessary to sign up with a reputed affiliate program as you wouldn’t wish to sell spammy products.
Is It Worth Investing Into Bitcoin?
Bitcoin is the leading cryptocurrency.
The profitability of any investment is gauged by its usefulness in the real world. Ask yourself – Is Bitcoin useful? Does it solve a real-world problem? Has it disrupted the current outdated solutions?
Well, the single answer to all such questions is a resounding yes. Bitcoin changed the financial ecosystem by introducing a decentralized, secure, and fast medium of exchange.
Just as the internet brought a revolution in the way we use technology, similarly, Bitcoin is revolutionising the financial space. Bitcoin is not a pop-and-drop technology; it is here to dominate the world. There is no denying that it is extremely volatile. However, it’s usage has only increased since its launch in 2009.
So, is it worth putting your hard-earned dollars into Bitcoin? If you strategically invest in Bitcoin, yes, it is worth it. If you are a smart investor who will not shy away from doing extensive research, Bitcoin investment is still lucrative for you.
Some people have witnessed huge losses in bitcoin investments, and some earned millions in bitcoin. It’s up to you to decide which category you want to fall into? The latter, right?
If you want to be sure-footed in this unprecedented world of bitcoins, follow these basic pointers:
Do your research.
Analyze the market.
Do not put all your eggs in one basket.
Measure the risks and choose the method that appeals to you the most.
Do not follow the noise; always take expert advice.
To sum it up, Bitcoin is worth your time and investment. However, it would be best if you were extra careful as you are venturing into a highly volatile space.
Great job sir