While the primary function of bitcoin, as for other cryptocurrencies, is to serve as a medium of exchange to secure financial transactions, it is not limited to only such uses. These digital assets, which are not regulated by any central authority and managed by the users, can be used to make money.
Make Money With Bitcoin
There are different strategies that you can implement to make money from bitcoin. The outcome largely depends upon your choice of strategy. Some require your time and knowledge and some require investing in your computer hardware and processing system. Furthermore, your efforts in the process determine its return. Minimal effort in some methods yields nominal returns while some high-income returns require a certain level of expertise about the market and industry. But, the most important thing is to execute the strategy that best fits your requirements.
Let’s have a look at the different strategies that you can adopt to make money with bitcoin:
During the initial years of bitcoin, mining blockchains for bitcoins were possible through a home desktop computer. However, as bitcoin value began to rise, miners needed higher processing power and specialized equipment in order to solve complex mathematical problems, which yields bitcoin in return. Specialized computer systems called ‘mining rigs’ were designed to facilitate the mining process.
Bitcoin mining, these days, is not as profitable as it used to be in the past.
Pay To Click (PTC) Websites
Some websites pay users in bitcoin for visiting the website or watching advertisements. This method can be a good way to make money with bitcoin if you don’t mind spending some of your time watching ads. However, the return for viewing such sites is negligible and pays you in satoshi (one bitcoin equals to 100 million satoshis).
A bitcoin faucet website lets you earn bitcoin, albeit of insignificant amount, if you watch ads and complete surveys or captcha, as specified by the website. This reward system can be a way to earn bitcoins in the form of rewards, but just as PTC, the return is a very tiny fraction of bitcoin.
Performing micro jobs, such as testing plugin, can earn you a fraction of bitcoin, which is small but higher than the return received through PTC or faucets websites.
Writing about Bitcoin
You can also make money through bitcoin by writing about it. If you are a cryptocurrency enthusiast and have the knowledge to share, you can earn money by writing for your own domain or working for people or websites, who need such writings. Due to its growing popularity, news and blog sites continue to grow. Subsequently, the need for writers with specialized knowledge is high in the market.
If you are a market expert and willing to take risks with your investment in the extremely volatile cryptocurrency market, one way to make money is by trading bitcoin. A digital wallet allows you to trade bitcoins. Making the right choices on when to buy and sell bitcoins can bring significant profits to the trader.
Lending your bitcoins to loanees at a certain interest rate can be a better option than holding and waiting for their value to increase. However, make sure that you use trusted lend-and-borrow platforms while making such a transaction.
Bitcoin affiliate marketing is a form of marketing where you get paid for bringing in a potential customer to an existing bitcoin business. Organizations pay you a certain commission for generating sales through your reference.
If you try trying to invest your money into savings accounts or putting a lot of money into Fixed deposit you can see the bitcoin chart https://www.coindesk.com/price/bitcoin
Select there option by year, how people made money in investing in bitcoins.
In 2014 bitcoin was $120 and the highest price of bitcoin was $19000.
Converting $120 into $19000 it’s out of imagination it’s better than investing money into the business, any bank investment or share market you can find bitcoin price by year on google or duckduckgo search engine.
There is a lot of ways to make money with bitcoin just try to exchange your coin into other coins.
Believe me, it’s the best option for investment
This is the reason every bitcoin holder having a great life.
Buying gift cards using bitcoin and selling them into cash can save a lot of money we always recommend paxful.com.
Whenever you buy or sell bitcoin you think you can loose your transaction cost but it’s not true
When you sell the coins you charge people the same amount as when you paid.
Selling price is always higher than buying cryptocurrency.
If you are having your own website using bitcoin as a payment gateway can give you the more benefit in the future as I had. We always recommend everyone to add bitcoin as a payment gateway to your website for future investment. Your money is keep growing without having new sales.
As a simple example, I had a bitcoin shopping site in 2014 I sold $120 clothes now I have above 10K.
There is no one in the world who loses the money in investing bitcoins.