A lot has been written about profiting from Bitcoin. No matter which strategy you choose to undertake, for sure this will cost you either time, knowledge, or computer power. Making money from Bitcoin is not the hardest, but it’s neither the easiest way. By proceeding to this article you will be able to grasp more about Bitcoin trading.
Coinbase Earn
Currently, Coinbase Earn offers the best possibility to acquire free crypto. Winning crypto is easy just by undertaking tests and streaming videos. New offers that pop up on the platform are not to be missed. This is the best way to get some crypto which you can later sell if you want.
Lending Bitcoin
Bitcoin lending involves higher risk, but a possible higher reward as well. Usually, Bitcoin lending functions through third parties like Blockfi and Nexo. The process is very straightforward.
If you have Bitcoins, you lend them to other people with an interest rate that you decide. Since this is an unregulated environment, interest rates can be very high which gives you the possibility for higher returns.
The unregulated environment means that on the other side, you will be exposed to more risk. If the borrower stops paying, there is very little that you can do to enforce your right to be repaid.
The uncertain nature of Bitcoin lending makes this market more monopolized by big players, holding big amounts of Bitcoin. There is a lot of potential in Bitcoin lending if you make the right moves.
Micro Earnings
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Those are websites that will reward you in Bitcoin if you fulfill your small tasks. But unfortunately, you can’t get a lot of Bitcoin from those transactions. Micro earnings that are best-known in the world of Bitcoin are:
Paid-to-Click Websites
Those are websites that will award Bitcoin to everyone who views advertisements and visits websites that are suggested. Maybe the most famous one of all is Ads4BTC.
The payment to the users is based on the length of the ads chosen to be seen (5, 10, or 20-second ads)
Bitcoin Faucets
Another form to earn Bitcoins is through the Bitcoin faucet. This is a website that rewards you for visiting ads or completing surveys.
Those types of websites generate more than half of the traffic on Bitcoin web pages. Faucets offer its users the opportunity to take part in the Bitcoin that has been given away to new users that you brought in.
As a result, Bitcoin faucet rotators have appeared. They are used by users to earn commission by rotation links for each faucet you have visited.
Like with PTC websites, faucets are not the best way to make money.
Micro Jobs
Websites like Coinworker, offer the possibility for their users to earn a small amount of Bitcoin through completing simple tasks.
This has a little more potential to earn more money than through faucets.
Writing about Bitcoin
Being a Bitcoin expert and enthusiast, you can also earn crypto by writing about the industry and sharing your knowledge.
Depending on the level of expertise that you have, you can earn some significant money.
BitcoinTalk Signature Campaigns
On the BitcoinTalk forum, users are remunerated for writing articles that feature product campaigns in the signature. Payment levels depend mostly on your membership and to get full membership you need to write 120 posts.
There are also some limitations for those writing posts like for example, word limit or ad-free articles. What is more, certain campaigns may even have limitations based on post counts for certain periods of time.
The payment potential depends highly on how you cope with the above limitations in order to produce quality posts.
Writing for blog and news sites
With this means of earning money, we give a start to a list of ways that can earn you a significant amount. Here, the demand for expertise also rises significantly.
A lot of news sites and blogs are currently looking for writers that are highly knowledgeable of the crypto industry.
If you have reached this level, you can also have an option for how to be rewarded – Bitcoin or fiat currency.
Affiliate Marketing
By creating and maintaining a successful website or a blog, you will have the opportunity to earn money from affiliate marketing. Your product needs to refer new users to Bitcoin businesses and you will be rewarded with a commission.
Offer services linked to Bitcoin
If you have more technical knowledge then you can start taking advantage of the numerous development projects.
The companies operating in the crypto industry are mostly start-ups that need a lot of human capital in order to survive and grow.
Bitcoin Mining
Bitcoin mining is the process of creating new bitcoins by using specific software. This also consumes a lot of processing power.
In the beginning, the process has brought to the miners huge amounts of Bitcoin at a relatively small cost.
However, profits were made only after the prices of Bitcoin started raising which took years to happen.
With each Bitcoin consuming more and more processing power, mining has become harder today. It requires expensive specialized equipment and a lot of electric power.
Bitcoin Trading
Trading with Bitcoin requires great knowledge about the market and it also involves a significant risk due to the volatile nature of the crypto markets. This is unsuitable for many investors who are more risk-averse.
In order to trade with crypto, you need to own some. Many websites like Coinbase and CEX offer you the opportunity to pay for crypto with your credit card. In choosing cryptocurrency trading, you may consider the options below:
Day Trading
This is a trading strategy where you buy and sell Bitcoins on the same date. This strategy relies on small ups and downs of the prices in the market triggered by rumors or a trend.
Trading Bots
Bitcoin Trading bot gives a significant competitive advantage that can earn you good money.
The most popular platforms and bots are listed below:
3Commas
3Commas trading bot can work with many exchanges including Binance, Bitstamp, GDAX, and Cryptopia. You can monitor the work of the bot on every device, any day, at any time.
This platform gives its users the opportunity to replicate portfolios and moves of other traders, as well as set maximum loss and profit targets.
Cryptohopper
Cryptohopper is another option that gives you the possibility to trade also technical indicators or follow other successful traders.
CryptoTrader
The CryptoTrader bot is a cloud-based trading bot giving its users the possibility to fully automate their trading actions without even installing the bot software on their devices.
Contracts for Difference
With CFD, you don’t own Bitcoin. In this case, you only buy a contract. This allows you to profit from the cases where the value of Bitcoin goes down (hedging). The disadvantage here is that you have no control over Bitcoin and you don’t know if it will be traded.
Binary Options
With Binary options (win-lose option) you can predict the value of Bitcoin for a defined period of time.
If your prediction is correct and the fluctuation appears in the specified period, you will receive payment, but if not – you lose your money.
Conclusion
This list gives you just a glimpse of the methods by which you can earn money in the crypto industry. As I mentioned in the beginning, you will have to accept the fact that you will also have to give something whether this is your knowledge, time, or both in order to profit from the crypto industry.
Because of the growing demand for Bitcoin enthusiasts, experts and services, one thing is sure – this is a great time to enter the world of Bitcoin.
