How to make money online with Bitcoin
Bitcoin for beginner’s
It is the year 2009, a person named ‘Satoshi Nakamoto’, at least we believe that is his name, because nobody really knows who exactly created bitcoin, developed an electronic online currency. This cryptocurrency, crypto meaning concealed or secret, named ‘Bitcoin’ was born.
Today’s society is really fast and energetic and an electronic currency is helpful,it can be exchanged, bought and sold easily through its own payment network. This cryptocurrency was based on cryptography and can be used as an electronic payment without having to pay, for example, banking fees.
Due to Covid19, people were locked at home for a long time and still have trouble finding work and are looking for ways to make money online. Some of them are trying to earn money with Bitcoin, or people are just trying to invest in Bitcoin for their future. Whatever it might be, in this article you will learn how to make money with Bitcoin.
Before we begin read this next sentences: ‘’Investment opportunities are everywhere. The hard part is to recognize and grab the ones, that are most profitable’’. There are many ways how to make money with Bitcoin, so I decided to write this guide and share 5 common ways, how you can make money online with bitcoin.
How to make money with Bitcoin
I know, I know you want to gain knowledge on how to make money with cryptocurrency. Let me tell you first what bitcoin really is.
What is ‘’Bitcoin’’?
The real concept of Bitcoin is very easy to understand. It is nothing physical, it is a file that is stored in a digital wallet. This ‘Bitcoin file’ can be sent across the globe and from person to person, using the digital wallet. You can not only send it or receive it, but you can also buy a Bitcoin and hold it until its price increases.
If you ever decide to do a transaction in Bitcoin, you will be recorded in a public list, called Blockchain. It manages and records all transactions and Cryptocurrency uses this Blockchain technology to make payments.
Bitcoin history
Today around 5000 Cryptocurrencies are being traded with a total market capitalization of more than $200 billion. However, bitcoin is on the top with a market capitalization of $1,051,179,684,596.
It was the first real Cryptocurrency on the market and soon after, many creators developed similar Cryptocurrencies, but Bitcoin still remains on top. Reason being, is that many people earned a lof of money with bitcoin and therefore it will get the most recognition worldwide.
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As of writing this article, the price for one Bitcoin is around 30,500 USD, but it wasn’t always like that. From its creation in 2009 until 2013 the Bitcoin price was never more than $10. However, shortly after 2013 it spiked to $200 and by 2017 it was worth $1000. 2018 the price than reached $10000, but dropped down to about $6000. Many people were speculating why this crash happened.
Today in 2021 the price of Bitcoin was an incredible $64,000. But now in June 2022 the price dropped to only $30,500
You might ask yourself:’’ Why is Bitcoin so popular?’’ Well let me tell you: Bitcoin is known to have made people rich. It did create wealth and millionaires. So other people want to be successful too.
How to make money with Bitcoin?
Finally! The most important question. Now that you know what the Bitcoin is and know a little bit about its history, I will share 5 common ways with you, how to make money with Bitcoin. I also recommend you to get Bitcoin starter courses. This one will teach you everything you need to know about making money with Bitcoin and contains all necessary lessons to make you successful.
So lets make money with bitcoin, shall we?
Mining
Mining is the best way to make money with bitcoin. How it works? While mining you are basically solving cryptographic puzzles and adding new blocks to the Blockchain Network. You have to differentiate betweens two types:
1. Personal mining- You are mining by yourself. Bitcoin is the hardest Cryptocurrency to mine, because the demand is high, but the supply is limited. Thus, you made won’t make great profits, as you have to buy hard- and sofwares and pay the electric bills.
2. Cloud mining- This form of mining is preferred as your only expenses are a one-time fee. You don’t need to buy any of the expensive hard- and softwares and you don’t need to pay high electricity bills. Therefore you will keep receiving your shares until you stop it.
The amount of earnings with cloud mining are based on your chosen plan and the electric bills of the mining company. Also before you consider paying people to mine for you, check the credibility to make sure you and your money are safe.
Buy and hold Bitcoins
This is by far the easiest method: Buy low and sell high. For example, you buy an item for 2.99USD, you can sell it to another person for 4.99USD. Congratulations! You just made $2 profit. This is how you can profit from Bitcoin in the end. You buy a Bitcoin, hold it until the price get higher and higher and then you sell it. Long-Term investors follow this strategy.
For buying Bitcoins, get a Bitcoin Wallet. Invest, hold (wait for the right time), and sell. But be aware that this method can take months or years to make significant profits.
However, when is the right time to buy and sell? This depends heavily on the market and your judgment. So before investing in Bitcoin, invest in yourself and learn how to properly read the market with this detailed beginner’s course.
Trading
You can make money with Bitcoin if you start trading. Many successful traders analyze the trading charts, market, external factors and are willing to risk it all. Here it is helpful to have a reliable Cryptocurreny Newsletter that is going to let you know of potentially profitable investment opportunities. I recommend this one, because it offers information in real-time and the lead editor has over 12 years of experience.
The moment you spike in your current trade, close the position and take the profits. This way people are able to generate hundreds or even thousands of dollars.
These are the most common strategies to make money online with Bitcoin:
- Bitcoin Hedging: This strategy is practiced when the market is moving against you, to minimize your risks by taking an opposition position you have already purchased
- Day Trading: It is also called intraday trading. The benefit of this strategy is that you don’t have to pay overnight fees, because you buy and sell your position the same day.
- Buy and Hold: Pretty simple as you buy a Cryptocurrency and once the price increases significantly you sell your position and enjoy the profits.. The downside to this strategy is, that you need patience. It can take a week or even years.
- Trend Trading: People use this strategy to follow the current trend. If the trend is bullish, you invest for the long-term. If, on the other hand, the trend is bearish you should focus on short-term investments.
The last two methods work hand in hand and allow you to make money with Bitcoin more in a passive way.
Accepting payments in Bitcoin
Bitcoins are becoming more and more popular as a payment option for physical products or for services and you should accept them too. Just put a sign on your entrance, which says: ‘’I accept Bitcoins’’. I mean, think about it: You have a business and you are selling, let’s say, used cars or anything else. Than your customer pays with Bitcoins. Well guess what, you can hold those Bitcoins until their value increases.
Now you can make double profit: One from your business and one from holding the Bitcoin. Smart right? In addition to that, you are going to make the payment secure and you can sell products worldwide and don’t have worry about payment problems. All you need is a bitcoin wallet to receive your payments.
Lending Bitcoins
Now whether you are mining, trading, buying or accepting Bitcoins as a payment, the best part is, that you don’t need them to be validated. Transactions can be done to your liking. So instead actively trying to make money with bitcoin, you can offer loans to people at an interest rate of up to 15%.
Many websites out there help you with lending services, but be careful and do your research about each website before you lose all your hard earned Bitcoins.
Well those are the 5 common ways to make money online with Cryptocurrency. But before you ever attempt to start trading or any other method in this article make sure you know you limits, research the market and websites that you want to use.
Should I invest in Bitcoin?
But, should you really Invest in Bitcoin? The short answer: Yes! Absolutely!
Bitcoin is the solution for all your trading and investment needs! And there are many reasons to invest your time and money in Bitcoins and Cryptocurrencies. The major reasons are:
- Transaction fees for international payments are low
- No banking fees
- Bitcoincan increase profits and wealth
- Great way to invest in your future
Also you can invest in companies, Blockchain, startups, development, etc., and make money with Bitcoin. But before you do that it is essential to determine the potential of a company by analyzing market demand, expert opinions, white papers, etc. You do the research correctly and you can possibility hit the jackpot.
Making money with Bitcoin can increase your financial wealth enormously. However, always keep in mind that Bitcoins and Cryptocurrencies are highly speculative. You might double your money or lose it all.
That is the reason I advise you get a Crypto starter course, that is written by a professional who is a Crypto millionaire himself and willing to share his secrects. Learn the basics, know when to buy, when to hold and when to sell. Get familiar with the tools needed to make money with Bitcoin. Therefore I don’t advise investing without any kind of knowledge.
In addition to that, always keep your Bitcoins in a secure wallet and do your research about every website, person or what so ever. It is your money and if you meet the wrong people, all of it will be gone. Please be careful!
Enough of that though. Crypto is great and really worth it if you try to make money online or just to invest for the future. So I wish you the best of luck and be confident, you can do it!
Good bye
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