There are many ways to make money with Bitcoin, but we’ll be discussing the 10 most popular of them all. But first of all, let’s get to understand Bitcoin, and it’s technology.
CNNMoney defines it in it’s most straightforward term. “Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middlemen – meaning, no banks! There are no transaction fees and no need to give your real name.”
Before now, sending money from one end of the world to the order had to be done through the current financial system. So many processes had to be carried out, having to wait a couple of days before money gets to its destination and depending on the financial institution, huge fees are collected to process the transaction. Furthermore, you can’t send a million dollars for instance without interference. Different agencies would be up your throat to know how you came about such money.
Bitcoin presented a solution, not only a solution but a fast one. Money traveling from one end of the world to the other just took split seconds. No interference, no name attached. Now you could send a billion dollars from the comfort of your computer or carry it around in hardware and paper wallets, and most importantly, anonymously. No one knows who the money is coming from and where to whom it’s going.
This was what gave Bitcoin the exposure that it has gained today and so many people, day by day are adopting this excellent system. Not just it being a perfect system for money transfer, it also has the feature of gold. Also referred to as Gold 2.0, Bitcoin could appreciate in value, and it did so even much faster than the real Gold. Your $100 today can quickly transform into a million dollars in the next few years without any form of investment.
Apart from you just leaving it to appreciate all by itself, here are Ten ways you can put Bitcoin to use or add up more Bitcoin to your online/offline wallets.
1.You could trade your Bitcoins
Trading Bitcoins has to do with buying and selling of Bitcoins in real-time with the help of trading applications from companies referred to as Brokers. With various market instruments, these brokers make available, through proper training, you can learn and master how to trade Bitcoins over the internet and from the comfort of your living room. Making money trading Bitcoins only requires you to register an account with top brokers like Markets.com, AvaTrade.com, or Plus500.com and you’ll be set not just to increase your Bitcoin value but also to increase the amount of Bitcoin you have in your possession.
2.Invest your Bitcoins to make more
Aside from trading for more Bitcoins, you can also invest your Bitcoins in savings investments such as Bitcoin Savings Account with companies such as Magnr.com and Bsave.io. With this investment, not only will your Bitcoin increase in monetary value, but you will also earn more on your dormant coins.
3.Freelance for more Bitcoins
Got some skills you think you can trade for some Bitcoins, then there are platforms which support this. With sites like XbtFreelancer.com and Moneo.io, you can exchange your skills such as writing, editing, graphics design for some Bitcoins. Depending on your level of professionalism, you can earn some tens and even hundreds of dollars of Bitcoin value which will be sent directly into Bitcoin wallet.
4.Complete small tasks online for Bitcoins
Another way you can get some extra Bitcoins is by getting specific micro tasks done. Tasks such as registering, clicking on ads, log in onto the platform and much more. These tasks are compensated with little Bitcoin depending on the task. This is also another way of earning small but steady Bitcoin.
5.Marketplaces to sell your products for Bitcoins
Be it downloadables, or physical products, platforms like Openbazaar.org and Bitify.com ensures a smooth trade between buyers and sellers on their respective platforms. This is such a fantastic way to making money even without having a website or trying to bother about advertisement costs.
6.Mine your Bitcoins
Unlike paper money which producing more into circulation is only in the hands of the Central Bank, Bitcoin can be mined by everyone, meaning you have the power to create your own money through mining that requires high configuration computers and specialized software. Bitcoin mining is simply the act of using special software in solving complex mathematical problems to be issued a certain amount of Bitcoin for every task. You can choose to mine yourself which is otherwise solo mining. This has become more expensive over time as Bitcoin value continues to grow and cost of electricity rises as well. Cloud mining, on the other hand, gives an opportunity to those who cannot afford to run this software on specialized hardware by themselves. They can invest in data centers who have mining devices setup on a large scale for a percentage of whatever they have invested with them. So mining is one of the major ways in which you can get more Bitcoins in your possession.
Though this isn’t the best way of acquiring Bitcoins, it has proven to be one of the several ways of increasing your Bitcoin especially when you are good at it. You can quickly earn some Bitcoins from a few hundred to thousands just by playing your favorite casino games with live dealers from the comfort of your room. It is essential that one sticks to sites which provide proof that their listed games are Provably fair, which means the odds are not stacked against the players. So before you venture into this, be sure to know well what you are doing.
Bitcoin Peer-to-peer community such as Bitbond.com, Loanbase.com, and BTCPop.co provide members on their platforms avenue for those who want to invest in other peoples projects and also to borrow some Bitcoins to accomplish their projects as well. If you have some extra Bitcoins you would like to loan out for a specific period for some profit; these platforms are great places to start.
9.Speculative Buying and Selling of Bitcoins
This is based on the ideology that you should buy when it’s cheap and sell when it’s expensive. With various market instruments available, you can speculate the proper time to, but some Bitcoins leave them as the value increases and sell at some point that you think it’s going to drop. This way, you can accumulate some profits to buy more.
10.Buying and Holding Bitcoins
This is based merely on buying for long-term for profit. Imagine you purchased when Bitcoin was some hundreds of dollars, now that it’s close to $6,000 at the time of writing this article, you would have been in huge profit. It’s never too late though, consider this method for long-term investment.
Here are just but a few of several ways you can earn some Bitcoins for yourself. Whichever what you choose, make sure you put a significant amount away on a cold storage/hardware wallet. If you’re going to choose an online wallet, make sure it’s secure and trustworthy.