Over the last few years, Bitcoin (BTC) has gained popularity as the number one form of decentralized currency. Its creator might remain a mystery up to this day, but one thing’s for sure: there are lots of opportunities for you to make money with Bitcoin today.
There are many options to choose from and deciding the best route isn’t always easy. To make things a bit simpler for you, we’ve compiled a list of tips on how to make money with Bitcoin from. Let’s get started!
1. Buy and hold Bitcoin
If you’re wondering how to make money with Bitcoin without putting in too much effort, the buy and hold strategy is among your best options. Buying and holding BTC is one of the most straightforward and beginner-friendly ways to earn money with crypto. Here’s how it works:
- Create a Cordial account—you’ll receive a free Bitcoin wallet upon signing up!
- Buy Bitcoin from your dashboard. Super easy and convenient.
- Hold on to your BTC and wait for spikes in price—no matter how long that may take.
You could wait weeks, months, or even years before you decide to sell. That’s the beauty of buying and holding. This technique has become so popular; there’s even an internet name for it—HODL. It started as a typo on a forum and became an acronym for Hold On for Dear Life. So if you decide to buy and hold, remember to hold on to the BTC for dear life. This is especially useful for investors looking to back particular assets for the long term.
Difficulty: Very Easy
Speed: Slow
2. Earn Bitcoin cashback on credit card purchases
Many payment giants worldwide have also started to dip their toes into the crypto waters. Interestingly, this paved the way for many crypto users to unlock and enjoy new financial opportunities with their Bitcoin while using their credit cards.
The BlockFi Rewards Visa® Signature Credit Card, for example, rewards its users with cryptocurrency instead of the usual miles or points. Cardholders can also earn 1.5% up to 3.5% cashback, which will be converted to BTC automatically and placed into a BlockFi account monthly. Apart from giving you a different financial experience, the next best thing is that it has no foreign transaction fees.
Difficulty: Easy
Speed: Medium
3. Accept Bitcoin payments for your products and services
As BTC continues to mature, we’re starting to see more and more businesses accept BTC payments for their goods and services. So if you’re already running a business and want to make money with Bitcoin, why not consider accepting BTC as payment for your product?
Integrating Bitcoin into your payment system will widen your reach and make transactions more accessible to customers who don’t have bank accounts or credit cards. The best part is that it’s incredibly easy to start accepting BTC payments.
If you’re running a physical establishment, you can start by simply putting up a small sign at your storefront and beside your cash register. If your business is online, you can put a banner on your home page or use a payment intermediary like Cordial Exchange, and fully integrate it into your website. Customers can just send funds directly to your Bitcoin wallet.
Difficulty: Easy
Speed: Fast
4. Trade Bitcoin
If HODLing is long-term investing, Bitcoin trading is its fast-paced equivalent. Essentially, BTC trading means taking advantage of its highly volatile nature. This method requires practice and knowledge of the market, so be sure to do your homework before giving it a shot.
Here are a few trading strategies you can try out to make money with Bitcoin:
- Day trading – This approach entails short and quick trades, allowing opportunities for small and fast profits. Day traders don’t hold open positions overnight, so this method carefully analyzes the market, sees small money-making opportunities, and capitalizes for a small profit. At the end of the session, day traders could have a significant cumulative gain.
- Swing trading – If HODLing is long-term and day trading is short-term, swing trading is kind of in the middle. Like HODLers, swing traders will buy low, wait long enough to see their holdings increase in price, and then sell high. However, their holding time isn’t as long as a HODLer and isn’t as short as a day trader.
These methods require a lot of practice, so don’t expect to get it right on the first try. This involves buying BTC and selling it for a profit. You can use it to buy Bitcoin and make a significant profit by taking advantage of the offer margins.
Difficulty: Medium
Speed: Fast
5. Take jobs that pay in BTC
Getting paid in your local currency is great, but receiving payout in Bitcoin can take your freelance gig to a whole new level. If you’re a freelancer who also happens to be a crypto geek, many websites today allow you to complete jobs and tasks in exchange for Bitcoin and other digital coins.
If you’re wondering where to get started, you can try browsing at websites like laborX.com, Cryptogrind, Crypto Jobs, and CoinTelegraph Jobs. Some of these platforms even use Smart Contracts, making every transaction more efficient and secure.
Difficulty: Medium
Speed: Medium
6. Try out the binary trading approach
Binary trading has existed in the financial world for a very long time, so it only makes sense that it can also be applied in the world of crypto. This is a suitable option to make money with Bitcoin if you’re willing to take risks.
As the name suggests, Binary has just two options: a trader purchases an option and an expiration time. The trade is either “in the money” or “out of the money.” Basically, you’re betting on where the price is going.
For example, the price of BTC is 46,500 USD at 10 AM. You can either bet that the price will be more or less than that by 6 PM. If you bet that the price will increase and that happens, you earn the payout of a certain percentage of your investment. However, if it’s lower, you lose the investment.
On the other hand, you earn the option’s payout if you bet that the price will go down and it indeed happens. This can be a challenging way to earn BTC, but you can gain money quickly if you invest right.
Difficulty: Hard
Speed: Fast
7. Join the Bitcointalk forum
Bitcointalk is one of the oldest forums out there. In fact, it was set up by Satoshi Nakamoto himself. It’s probably the most popular forum in the crypto sphere, as millions of people use it.
If you’re an avid follower of the forum and want to make money with Bitcoin, you can post on the Bitcointalk forum. Keep in mind that you’ll need to have racked up some authority from consistent posting and then your posts on Bitcointalk will have a sponsored signature. Eventually, you can get paid for every post you make on the forum.
Difficulty: Hard
Speed: Slow
The ways to make money with Bitcoin are ever-evolving
Now that you know how to make money with Bitcoin, why not give it a try? Who knows, your efforts could lead to some big profits.
As the crypto economy matures over time, we will see constant development and people will keep finding new ways to earn cash with BTC. Even beyond this list, there is an endless amount of earning opportunities offered by Cordial Exchange. Be sure to do your research and find out what works best for you. The sky’s the limit on how to make money with Bitcoin—all you have to do is be creative. Good luck!
Disclaimer: The content herein is not, and is not intended to be, legal, financial, investment, or other advice. You should carry out your own independent verification of facts and data, do your own research and may want to seek professional advice before making any decisions. Source: Paxful.com
As the crypto economy matures over time, we will see constant development and people will keep finding new ways to earn cash with BTC.
