How to Make Money From Bitcoin Online?
Bitcoin has gained a lot of popularity since its birth. Satoshi Nakamoto gave birth to the first cryptocurrency, which is Bitcoin. Many people took it for granted and mined for fun. One guy even bought a pizza for around 10,000 bitcoins. It indeed became the most expensive pizza ever sold.
Currently, the price of Bitcoin is nearly $24,000. If we look at the chart, we can see that it has always been profitable in the long run.
The profit has risen so much that it is now an asset with the highest return rate for investors. Wall Street has also noticed its potential and has started keeping track of it. Giant corporations are beginning to accept Bitcoin as a payment method.
Is it still possible to make money online with Bitcoin? Yes, you can always make money with Bitcoin online. However, you won’t make easy money without investment by mining like in the early days of Bitcoin. With that said, the moneymaking days from Bitcoin is far from over.
Ways To Make Money With Bitcoin Online
Besides trading and traditional mining, there’re many other ways to make money with bitcoin online. Let’s check them out:
Are we talking about traditional bitcoin mining here? No, we’re not talking about it. Most of us won’t buy expensive systems in place and spend millions on having an architecture to mine bitcoin. With the increase in demand and competition, the bitcoin difficulty is increasing.
What can you do to mine bitcoin now? You can join the bitcoin pool. It’s a group of miners who combine computer power to obtain bitcoin. Another way is to use the bitcoin mining cloud. In this method, there is a cloud system to combine computing powers.
Here’s the prediction of when the last bitcoin may be mined:
The last bitcoin may be mined in 2140, but you can expect it to be harder to mine bitcoin in the future.
Binary trading has entered the world of bitcoin as well. However, the risk associated with this method is very high. You can grab an attractive return on investment if you get this prediction right. You can now perform binary trading in bitcoins too.
In binary trading, you make a prediction. You only have two options here; you predict the bitcoin price will either be higher or lower in a specified time. If you get this right, you’ll be rewarded.
Writing about Bitcoin
Cryptocurrency and Bitcoin have many potentials, which is why many people want to learn more about them. One of the ways you can earn bitcoin is by educating the masses about it. Many cryptocurrency sites are willing to pay writers about bitcoin.
It’s possible to reach out to site owners and pitch your skills directly, or you can also use freelance sites like Upwork, Toptal, freelancers, and others.
Like stocks, you can also perform trading in bitcoin. There’re plenty of platforms that enable you to exchange cryptocurrency for your local currency like INR To BTC. Vertex Market is one of the reliable sites from where you can purchase bitcoin for trading.
Like other assets, you must have a clear trading strategy. The volatile nature of bitcoin demands you to do adequate research before you start taking risks. The three standard plans of trading are day trading, swing trading, and arbitrage.
In day trading, you aim to buy low and sell bitcoin at a higher price and carry out the trade within the same day. While in swing trading, you wait for a few days to weeks to hold and sell bitcoin. Lastly, arbitrage is about buying bitcoins in platform A and selling it on platform B to take advantage of a price fluctuation. If you are in a country like India and you don’t know how to buy bitcoin in India don’t worry you can always sign up to Vertex Market who can guide you through the process
If you’re not looking to make a huge profit, you can seek out micro jobs to earn some bitcoin. Some micro jobs sites are paying in cryptocurrencies, which gives you the ability to make a little bitcoin.
Some of the popular micro job sites are Cloudfactory and Microworkers. You will need to perform simple tasks like commenting on sites, watch youtube videos, click on ads, and others. Don’t expect to earn a lot of money from Microjobs sites, but it can help you make some extra bucks in your free time.
Accepting Bitcoin as payments
Giant corporations are starting to accept Bitcoin, and the number of companies accepting cryptocurrencies is increasing every year. If you want to take some risks with your business, you can buy bitcoin as payment.
There’re payment intermediaries like Paxful, which allows you to offer bitcoin as a payment option to your customers. Due to the volatile nature of bitcoin, you should be aware of its risk, though.
Instead of lending money on interest, how would you like to lend bitcoin. If you don’t want to take high risks, lending bitcoin could be a better option for you. You can make interest by lending your available bitcoin.
There’re plenty of scam websites that can put your money at risk. Go for some reputed platforms like Unchained Capital, BTC Pop, and Bitbond. If you trade in reputable platforms, you don’t need to worry about losing your money and other frauds.
Finally, you can join affiliate programs and earn a reasonable sum of money. If someone enters a platform or purchases something via your link, you get a certain commission percentage. Many corporations depend on affiliates to make a decent amount of sales for their businesses.
Many Bitcoin exchange platforms have included affiliate marketing as their sales strategy. Joining an affiliate program is incredibly easy. You only need to fill up a simple form, and your profile will be accepted. You’ll be provided a link to promote their platforms.
However, don’t expect to make some quick bucks just by spamming your affiliate links. It would be best if you had a strategy to get sales.
Like all other money-making methods, there’s an element of risk with Bitcoin. With high risk, you can expect a high return with Bitcoin. There’s a way to make money online with Bitcoin for everyone.
We recommend you to use money that you can afford to lose when it comes to Bitcoin. You can go to mining, long-term investment, trading, and other methods for making money online with Bitcoin. It all depends on your risk-taking ability.