Let’s face it, loads of individuals are into Bitcoin and cryptocurrencies so as to get fast money. The question here is How to Make Money with Bitcoin. That’s why this article is devoted completely to the ways in which you will be able to create cash with Bitcoin.
Bitcoin is said to be money in digital form.
For some unexplained reasons that I cannot wrap my head around. People believe Bitcoin is a digital currency and a new form of money, hence there is a magic wand you can wave and you start earning bitcoin and making cool cash out of it; I’m sorry to burst your bubble!
Bitcoin is simply like several alternative currencies out there. You have to work hard enough for you to get it and make money out of it.
While cryptocurrencies generally could hold some new potentialities for generating financial gain, the fundamentals are constant. You’ll need to invest time, or cash so as to make money from Bitcoin.
All the methods I will be highlighting in this article will be listed in this order
- How much effort will it take you to make money with bitcoin using this method?
- How much money can you make using this method?
- And how risky is it to make money with the methods I’ve highlighted
All of the strategies I’ll re-evaluate are things we’ve truly tested ourselves here, thus you’ll be rest assured we’re talking from expertise. Let’s get started…
How to Make Money with Bitcoin -Ways you can earn money with Bitcoin
- Micro-earnings: One of the best but also time-consuming ways a newbie can earn bitcoin is through small or micro earnings. Micro earning like the name suggests means you will be doing little tasks and earning some little amount of coins for every task you carry out. Although the bitcoin earned through this methods are very small, with the continuous effort you can gather a substantial amount of bitcoin over time.
Some popular micro earning sites include bitcoin faucets – these are sites that you have to visit repeatedly to claim a fraction of bitcoins when you have completed whatever task they require of you. Other micro earning platforms where you can earn bitcoin are PTC (Paid To Click) websites. With PTC websites you are required to click on ads, the website earns revenue for the ads you clicked on and you’re compensated in bitcoin… Easy!!
- Own a bitcoin faucet: Although you might earn some amount of money in bitcoin participating in Bitcoin faucet programs, if you want to make big bucks in bitcoin from faucets you have to own one yourself. Owning bitcoin faucet these days is easy compared to the stress it takes to create and run one let’s say 4 years ago. You can build a bitcoin faucet with ease and earn money generated from ads on your website.
If you use a good advertiser and you generate tons of traffic to your website you can make over $1000 per month running your own bitcoin faucet. However running a Bitcoin faucet will require a very large amount of your time, you will also expend Much energy managing the activities on the website.
But at the end of the day your income might be worth the stress, making lots of money as a bitcoin faucet owner is definitely a good way to make money online.
- Run a signature campaign on Bitcointalk: The year 2014 was when Bitcointalk started running signature campaigns. Bitcoin talk is the number one bitcoin forum in the world. The way it works is simple. You create a Bitcointalk profile and use your signature to advertise a product – which is mostly cryptocurrency projects and earn points for every post you make on the forum. The list of campaigns you can engage in and make bitcoin will be listed on the home page of the forum.
To earn a tangible amount of bitcoin on Bitcointalk you have to be a full member. To become a full member requires you’ll have a minimum of 120 posts on your profile. There are restrictions on every post you make on bitcointalk; like the length, the content should also be original.
Sometimes there is a minimum demand of posts every week. You can make up to $5 every hour in bitcoin depending on your membership level and the number of posts you make daily. So if you want to earn enough money from bitcointalk, get an account, keep on writing, be dedicated and in no time you will start earning lots of money in bitcoin from this platform.
- Become a cryptocurrency trader: Earning Bitcoin as a cryptocurrency trader is probably the quickest, best and riskiest way to make money with Bitcoin. Your job as a cryptocurrency trader involves trading different Cryptos against themselves on exchanges, and making a profit off the difference – it is one surefire money-making move. You buy bitcoin when the price is low and sell it when it increases in value.
However making money as a trader isn’t about luck or a lucky break, it requires you to dedicate your time to learn the necessary skills needed to beat the risky loopholes traders face every day. Traders know a little slip can see them lose money but they take it as a form of training and learning from your mistakes makes you a better trader.
If you want to make money as a trader you have to sacrifice time and money to learn the needed skills and you’ll be on your way to making lots of money through bitcoin trading.
- Promote Bitcoin affiliate programs: One less popular but very effective and lucrative Bitcoin earning opportunities is by earning through affiliate programs. Affiliates promote a business free of charge but earn a commission if their effort attracts a paying customer.
Lots of Bitcoin projects and exchanges, merchandise services and freelance companies have affiliate programs you can register on after you register you are given an affiliate link to enable you market that product or service.
Promoting your affiliate link to get customers is the task here, but it is an easy task. You can share it on social media – Facebook, Twitter, Reddit, LinkedIn, or share on your website. If your website attracts substantial traffic, there is a high chance someone will make a purchase using your link and you can earn cryptocurrency for that action.
Promoting the cryptocurrency affiliate program requires effort, but will give high rewards with no risk at all.
- Gamble in Bitcoin casinos: Another good way of increasing your bitcoin is to try gambling on one of the numerously available bitcoin casinos. This method of getting money through bitcoin doesn’t need much introduction, just be sure if you want to risk your bitcoin and see if you’re just lucky, be sure the casino you’re using is very honest.
An honest bitcoin casino will make all the process transparent and show you ways to ascertain your results were not fixed but random and fair. If you go online you will surely see a lot of bitcoin casinos to gamble in, just choose the right ones. If you must gamble, gamble at your own risk.
Making money or bitcoin as a gambler is a very high-risk venture that isn’t advisable, but the gains if attained is worth the risk.
- Write articles about Bitcoin and cryptocurrencies: If you have a very good knowledge of cryptocurrency and you are very skilled with words, earning bitcoin is very easy, just turn into a crypto journalist or a cryptocurrency article writer.
Because of the high cryptocurrency activities, changes and advancement in technology there is always a need for new articles daily by websites and blogs. These websites are always in need of cryptocurrency writers and will pay you in bitcoin or cash to write for them.
Since gifted writers are really hard to find, if your work is of the highest quality, you will earn a nice stream of income writing bitcoin, crypto and blockchain related articles from the comfort of your sitting room.
To seek out writing jobs on the internet you have to create a profile on popular freelance websites like Fiverr, Upworks or freelancer, and update your crypto writing skills, if a company or website likes your profile you can go on to earn lots of cash in Bitcoin as a writer.
You can also search popular crypto publications, there is always a need for crypto writers, check on Reddit too. You can email some popular sites too asking them to join their team of writers if you have enough skill you might get lucky and get hired.
Then you can get paid for your skills either in cash or in bitcoin, you choose whichever way is more convenient for you.
- Bitcoin mining: A lot of newbies to Bitcoin are instantly excited about the idea of Bitcoin mining. Making lots of money online from your computer by using your computer’s processing power is an awesome venture. Bitcoin mining in the early days of Bitcoin was a simple task but recently it has become a big business with big companies with pricey techs dominating the sector.
You can mine and get a lot of Bitcoin and make an ally of money with this method. To become a bitcoin miner is straightforward; buy instruments needed for mining, keep a lot of money needed to offset electricity bills and have the needed knowledge, you can then begin your journey as a bitcoin miner.
Sometimes you will see an app or website that tells you they mine bitcoin, invest some amount of money and also contribute your device computing power in exchange for some fractions of the bitcoin mined.
Another mining option is cloud mining which entails you paying a sum and let other companies handle your mining rigs and tech for you. This is also a relaxed way to earn bitcoin and lots of cash in the process but be wary of some scam sites who wouldn’t deliver as promised.
Before you venture into bitcoin mining, it is good you do your research, but one thing is sure if you mine right you will make tons of money selling the Bitcoin you generated through mining operations.
It is a risky venture but the results are worth the risk, that is for sure.
- Investing: Bitcoin is a scarce currency just like Gold or diamonds, there is a finite number of bitcoin available, there is solely twenty-one million Bitcoin ever mined. (Out of that just sixteen million is in circulation currently, because the rest are frequently being mined).
With bitcoin, you’ll invest for the long run. For Nigerians, Bitcoin will function as a high-profit investment, thanks to the behavior of the Nigerian monetary unit within the exchange market.
Just 4 years ago you could get one Bitcoin for as low as $150 but the price gradually increased to $200 and since then there has been a steady increase in the price of Bitcoin. The bull market of 2017 saw the price of Bitcoin rise to $10000 then there was a spike in the price in the second quarter of 2017 that saw it rise to $15000 and then $20,000 by December.
In the third quarter of 2017, the price hit a wave and Bitcoin increased to a value of over $19000, the early investors in Bitcoin were the winners here. Bitcoin purchased early in the year for just $5000 was now valued over three times the price. This investment in Bitcoin produced one of the highest return on investment any business could offer, investing in Bitcoin is a wide choice and you should consider it. Invest at your own risk!
- Remittances: Nigerians living in diaspora and people doing business all over the world like in China and also all over the world will save on cash transfer fees and interchange rate by transferring cash in Bitcoins, this might save time and scale back over 100 percent fees charged by many cash Transfer Operators.
Bitcoin exchanges are accessible everywhere around the globe, permitting users to convert any currency into Bitcoin and vice versa.
The great thing about Bitcoin is the fact that every day a different opportunity arises where you can utilize the currency in making money.
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