Some people have been asking “Can I still make money with Bitcoin? How do you make money with Bitcoin?” The answer is yes you can still make money with Bitcoin because it still tops the charts even after a decade of fluctuations. If you have decided to invest in cryptocurrency, Bitcoin is a good way to make money, being the largest cryptocurrency. There are many ways to make money with Bitcoin but the nine best ways include investing, trading, earning commission, writing articles, becoming a master node, mining, micro earnings, lending, and accepting Bitcoin as a payment option. However, the amount of money that you will make depends on the method or combination of methods that you choose and how much risk you are willing to take. In this article we will discuss these in detail.
One way of investing in Bitcoin involves buying it and holding it for the long term until the price rises. You can keep it in a hardware wallet, and you must know when it is the right time to sell it. Another way is to make research-intensive investments. This means investing in startups, existing companies, blockchain development, and other businesses involved in cryptocurrency. When it comes to startups, do some due diligence in the form of analyzing white papers, reading the expert opinions, watching market demand statistics, etc. If you get this investment right, you are likely to hit a treasure chest. There is work to do of course. You have to jump from one exchange to another as you hunt for the right investment opportunities. Fortunately, Kullion Exchange offers a great variety of investment options, so you can find top cryptocurrencies under one roof.
Trading Bitcoin for profits is one of the most popular ways to make money with Bitcoin. If you know how to analyze trading charts and you are ready to take calculated risks, trading suits you. Start by signing up to Kullion Exchange and buying Bitcoin with your local currency. Now think like a trader and trade your Bitcoin as soon as you see the best profit spike. It doesn’t matter where you live because Bitcoin trading is available 24/7. Also, for your convenience, Kullion Exchange is available on iOS and Android devices, so you can trade while traveling or watching television. Once you have a Kullion account, map out a research-based trading plan, while keeping an eye on the charts. To minimize your risk, trade the amount that you can afford to lose. Your profit margins in Bitcoin trading entirely depend upon your skill in reading market situations and analyzing charts. You can take advantage of Kullion trading tools to increase your clarity about your trades. Kullion trading tools ensure a smooth trading experience.
3. Earn Bitcoin as an Ambassador
Are you active on social media? Now you can take advantage of your social media followers and make large sums of money by persuading your followers, friends, and family to join Kullion Exchange. You can sign up for the referral program and promote Kullion products for a commission. You will receive a specialized link that will track your performance. Your job is to tell people how to make money with Bitcoin and then share the link on social media or your website. For every customer trading through your link, you will receive a decent commission. Your commission earnings depend on the customers you create for the exchange. Therefore, if you have a good network and you manage to convince people to join, you can earn a fortune with the referral program.
4. Write sponsored posts
Are you good at writing? Once you acquire enough knowledge about the blockchain world, you can make money by writing sponsored posts on Bitcoin Talk Forum – the most sought-after cryptocurrency blogging platform – and other platforms.
5. Become a master node
If you are in a financial position to invest in computational power, you can become a master node and power the bitcoin blockchain. This means running a server that is continuously on and helps the network to run. You can make a remarkable amount of money by being a master mode.
Have you heard about Bitcoin mining, the process of adding new blocks to the Bitcoin blockchain network? If you have the luxury of high computing power, money to pay high electricity bills, and the technical know-how of mining, then mining is worth your effort. Bitcoin miners made large fortunes in the early stages of the crypto revolution. These days, individual miners can hardly cover their electricity bills by mining Bitcoins. Fortunately, cloud mining services exist where you pay once to rent mining equipment so that existing miners can mine for you. You invest once in cloud mining services and keep receiving your share of the cake without worrying about any rising electricity bills. So, you can still earn money with BTC mining. Beware though. Do your homework. Before throwing money into a cloud mining company, verify its credibility to avoid scammers. If you do it the right way, Bitcoin mining is still profitable.
7. Micro Earnings
Micro earnings are tiny amounts of money that will not yield a fortune, but they are a decent way to make a profit if you are clever. Pay to Click (PTC) websites like Coinadder and BTC4ADS will pay you in Bitcoins to watch ads. One way to do this is not to hit the skip ad button when you see their ads. Another way is to watch YouTube videos or to complete online surveys. Bitcoin get is one of the leading micro-jobs websites. As the name suggests, the earnings are quite small. The sites reward you with Satoshis. A Satoshi is 100 millionth of a Bitcoin. Watching one hour of ads will earn you US$0.04-US$0.05. It’s an easy way to make money while killing your free time. If the ad’s terms of service allow, invest in low-cost android phones and run them on your Wi-Fi 24/7. The ads will run continuously while you rack up earnings. Just make sure you can make a profit after paying for your electricity and Wi-Fi.
Holding bitcoins will not make any money unless the price surges and you sell at a profit. So how do you make money in the meantime? The answer is: let bitcoin work hard to make money for you. How? Lend bitcoins to other people and earn interest. To manage the risk of never being paid back, trust your bitcoins with a credible lending platform such as Unchained Capital, Bitbond, or BTCpop which offer interest rates of up to 15%.
9. Accepting bitcoin as a payment option
You can earn money with BTC by accepting it as a payment option. If you are a seller or planning to be one, it is wise these days to integrate bitcoin into your payment ecosystem. Accepting bitcoin opens the world for you as you can accept payments from any part of the world with lightning speed. All you need is a bitcoin wallet and no involvement of third-party services for processing your payments. When you set up your prices, keep the bitcoin volatility in mind. Summary Bitcoin is extremely volatile, yet its usage has increased since its launch in 2009, meaning that it is here to stay. So, if you strategically invest in it, it is worth it. Some people have made losses while others have made millions. In order to fall into the latter category, be smart enough to do extensive research, to analyze the market, to diversify your investment, to know the risks, and choose the method that appeals to you. You can also start small with micro earnings and gradually move towards high income by trading, investing, lending, etc. While Bitcoin investments are volatile, the chances of every investment taking a steep dive at the same time are almost nil and that is why you must diversify. Finally, there is no formula for becoming a bitcoin millionaire overnight. You just have to be patient with your investments and make informed decisions. You can make decent money if you follow this advice.