Bitcoin is a prominent cryptocurrency that has been on the page of global financial discourse for quite a while. With the analysis of its past towards a growth projection into the future, Bitcoin has always been a point of interest for people who want to have delved into its history and other types that is curious about its potential investment opportunities.
Between the date of Bitcoin launch and 2017, the cryptocurrency can be inferred with relative obscurity, but following the excellent Bitcoin bubble in 2017, its market has started to boom. Today, Bitcoin is not only the largest and most popular crypto in the world, but it is also the most expensive cryptocurrency, with a market cap of almost $1 trillion.
Over the years, Bitcoin has gained traction with its influence and market value which is now valued above silver worldwide. Following this remarkable trajectory, it is essential to position yourself to benefit from the excellent fortune Bitcoin appropriately churns in different walks of endeavour.
So here, we will be bringing you up to speed on how you can make money with Bitcoin through different outlooks.
1. Bitcoin Mining
This is not the same as the regular industrial mining we know, but the concept here is Bitcoin mining. This is the use of sophisticated computers to solve complex mathematical problems. These miners get rewarded with new Bitcoin when the code is cracked. This process is highly competitive, as it involves the solver who becomes the reaper of the rewards.
Mining wasn’t a complicated process in the early days, as some of the earliest miners could mine thousands of Bitcoins using their home computers. Today, it is an entirely different scenario because you need top-level equipment, which can save you a few thousand dollars.
To get availed of the opportunity, some Bitcoin mining pools can join as a member. A Bitcoin mining pool is a cohort of miners who harness their computing skills to solve complex mathematical problems.
But as the competition gets more brutal, the better equipped you need to be to make a profit. And as you spend more on equipment, your profit margin decreases. As a result, Bitcoin mining appears not as profitable as it used to be. Plenty of research needs to be done before going into mining.
Conclusion: making money through Bitcoin mining is difficult with a slow speed.
2. Buying and Holding
This process answers the lingering idea of making money through Bitcoin investment. HODLing, another term for buying and holding, are one of the most beginner-friendly trading strategies for making money with Bitcoin. You must have a Bitcoin wallet to buy Bitcoin and patiently lookout for an inflationary price for Bitcoin shortly. However, this process could roll over to weeks, months, or even years before the decision to sell might arise.
Conclusion: making money by buying and holding is easy and slow.
3. Bitcoin Trading
Trading Bitcoin is the fast-paced equivalent of HODLing. Primarily, Bitcoin trading means taking advantage of Bitcoin’s high volatility. This method requires practice and knowledge of the market, so do your homework before you even think about giving it a shot.
Conclusion: making money with trading is not too hard, and it is fast.
4. Accepting Bitcoin As Payment
As Bitcoin continues to mature, more businesses are beginning to accept it as payment for goods and services. Online business owners can also put a banner on their home page or use a payment intermediary to integrate it into their website. The prospective clients would be able to cash into their Bitcoin wallets.
Conclusion: making money by accepting Bitcoin as payment is easy and fast.
5. Content Writing About Bitcoin
In general, the cryptocurrency appears to be a new niche, and only a few writers critically know this niche. This means the market is filled with new crypto copywriters who ana! Use the Bitcoin content always.
So if you know this niche and have unique and clear writing skills, you can educate people with your craft. You can freelance on some websites like Freelancer and Upwork, including some cryptocurrency platforms.
Conclusion: making money by writing about Bitcoin is a bit easy and fast.
6. Micro-Jobs And Pay-To-Click (PTC) Websites
Today, several websites will pay you in Bitcoin if you watch an ad or click on a link to a particular page containing ads. Take note that making a significant amount of money requires diligence and commitment. So if you have those attributes, these sites are an excellent way to earn a quick buck. Coinpayu and adBTC are good sites to check out if you are interested in making money with cryptocurrency.
Conclusion: making money this way is easy and fast.
Bitcoin offers a wide range of opportunities to explore and make money. But it is essential to assess the option that best fits your skill and available features before you start.