Four Proven Ways To Make Money With Bitcoin
Bitcoin is not just a passing fad as many want you to believe. The opportunity to make money with Bitcoin and to grow your wealth is huge. There are quite a number of ways that you can use to make money with Bitcoin.
Here are four proven ways to make money with bitcoin.
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Investing in Bitcoin
Investing in Bitcoin entails buying and holding. The idea is to allow the value of bitcoin to rise over time then selling for a handsome profit when the price is right. For instance, analysts estimate that Bitcoin will bounce back and surpass the all-time highs in the coming year. You can therefore just buy at the current price and wait for the price squeeze. Meanwhile, you could store your Bitcoin on savings accounts that pay you an interest. This will earn you some passive income even as you wait for your price targets to hit.
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Trading Bitcoin
Trading is another way to make money with Bitcoin. You could trade in order to increase your Bitcoin portfolio or just to cash out some or all of the profits. Trading Bitcoin works almost like trading stocks with some notable differences. For starters, anyone can trade Bitcoin using any amount they have. However, there are some risks involved with trading so you may want to practice with paper trading before trading on a real account. To trade Bitcoin, you will need to create an account with an exchange. Examples of exchanges include coinbase, binance, etc.
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Bitcoin lending
It is also possible to lend your Bitcoin and charge an interest for it as another way to make money with Bitcoin. There are a couple of peer-to-peer bitcoin lending websites that you can use to securely lend your bitcoin with minimal risk. These websites give lenders and borrowers a platform to meet and transact at a reasonable fee.
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Affiliate marketing
If you have some experience with Bitcoin, you can refer friends to Bitcoin and get paid for it. There are lots of Bitcoin services that you can refer friends to. These include exchanges, wallets, bitcoin games, bitcoin gambling, Bitcoin job boards etc. All you’ve got to do is find a website selling a Bitcoin-related service and sign-up for their affiliate program. You will then get an affiliate link, which you can give friends to use for signing up.
Making money with Bitcoin can be lucrative if you do it right. As you can see from the list above, you can make money with bitcoin from anywhere in the world as long as you have access to the internet. This is, therefore, a perfect opportunity for digital nomads, stay at home parents, students, or anyone else who cannot or does not to access formal employment.
