There’s quite a baffle to this question on how to make money with bitcoin. Most people are yet to realize that the same methods they use to earn money is the same methods they should use to earn bitcoin.
Bitcoin is just a currency just like the dollar accept that it is a decentralized currency. For it being decentralized it does not charge to being something else, is still a currency.
It can still be earn or acquired the same way one earns their country’s currency. On this post I’m about to share with you 10 ways to make money with bitcoin. Of which are similar to making money online or elsewhere.
10 ways to make money with bitcoin:
Earn bitcoin through micro earnings
This first method is not know, it has been around since the inception of the internet. These are the methods to earn free bitcoins online.
Bitcoin Faucets – A Bitcoin Faucet is a website that gives a way small amounts of bitcoins if you solve a captcha. You can claim the free bitcoins after every 5 minutes or more in most faucets.
Paid to click(PTC) sites – PTC sites are websites that will pay you for clicking and viewings. In this sites advertisers pay for traffic with a hope for sign ups or purchases. There are dedicated bitcoin PTC sites, you can use them to earn bitcoin by clicking ads. There ads usually take 10 to 60 seconds before you can view other one.
Completing micro tasks – Then there’s micro sites, on this sites you can earn much higher amounts of bitcoin for completing simple tasks. The micro tasks can include watching videos, posting on social media or taking surveys.
Is hard to are a decent amount all of this free methods but micro tasks and ptc sites can be much better.
Work for bitcoin
If you want to make a reasonable amount of money with bitcoin consider working for it. There are dozens of bitcoin jobs waiting to be filled. There are companies that will hire you for any skill you might have.
It depends on the skills you have, you can find any job that you desire and get paid in bitcoin. You can be a freelance, get part time jobs or even full time jobs.
There are freelance platforms will help you connect with job advertisers. Websites like XBTFreelancer or forums like Reddit/r/Jobs4Bitcoins can help you find a suitable bitcoin freelance job. You can click here to see other platforms and start working for bitcoin and see how you can start freelancing.
Promote bitcoin affiliate programs
Are you good at online marketing? If not you can still improve your marketing skills and promote bitcoin programs.
You can promote bitcoin affiliate programs to make money with bitcoin. Find a list of affiliate programs and choose the ones you like. This affiliate programs will pay you commissions of bitcoin if you bring customers.
For this you can create a website or start a blog and send traffic to it. The more people visit your blog you will increase your earnings in affiliate programs.
Write articles and earn bitcoin
Writing articles can be profitable to anyone who wants to earn cryptocurrency. Bitcoin is still new, and there a shortage of content for it.
Bitcoin news are always looking for writers and are willing to pay in bitcoin. There are also sites other sites who are not related to cryptocurrency who will pay you in bitcoin if you write for them.
Bitcoin mining or Cloud Mining
Bitcoin mining use to a good way to make money with, years ago. Even with cloud mining as well.
But now there are not many legit cloud mining companies so I don’t recommend this to most of you. A most cloud mining are high yield investment programs, literally scams.
The only known cloud mining to be working is BitClub Network. Their pool seems to be on the blockchain list and is been there for a while now.
Investing in cloud mining with the hope of making money can backfire. The chances of you losing your bitcoins are high. There’s lots of bitcoin scams online now, so is your responsibility to protect your bitcoins.
Play games in Casinos or do sport betting
Bitcoin casinos and sportbooks are some of the platforms you can use to make money with bitcoin.
On this platforms you can play thousands of games or bet in major leagues in the world. Types of casino games include Slots, Roulette, BlackJack and more. White sport betting can includes Soccer, Tennis, Basketball, Rugby and so on. You can can choose the one you enjoy most and bet with bitcoin.
Find the most trusted bitcoin casino sites with fair odds. If playing games is not your thing then you can try sport betting.
Cloutbet is one of the most advanced bitcoin sportbook and casino site. You can play/bet, win and withdraw bitcoins to your bitcoin wallet in few minutes.
Day Trade/CFD Trading
Cryptocurrency trading is huge business, this is a field that can be profitable if you know what you are doing.
You will need trading skills for this, since you should analyse how the markets are doing. You can trade through bitcoin exchange sites.
In most cases you can buy other altcoins, like litecoin, ripple, dogecoin or regular currencies like USD, GBP, EUR with bitcoin.
You often need to predict future price trends to make a successful trade. This might require you to learn the basics of Forex trading since is the same thing.
I would suggest that you start by learning the basics first before getting into this. There’s high profitability and high losses, so you should prepared first.
Lending money and gaining interests is been there for very long time. Since bitcoin is also currency you can also lend it. In return you should earn bitcoin interests.
There are platform that allow people to lend their bitcoin. The bitcoins are then used to establish business ventures.
In return you as a person who provided the bitcoins will profit from their interests. Some of those platforms are:
Bitboind – The most popular site in the bitcoin lending industry, start-ups borrow bitcoins to invest in their businesses in return you earn
SALT – This is a new platform for lending bitcoin
PolonieX- is a bitcoin exchange for traders, they use the bitcoins to leverage their trades.
Become a broker
Also known as arbitrage, being a bitcoin broker could seem impossible to most people. But all you have to do is find a place where you can buy bitcoin with a lower price. Then you can sell them with a higher price, simply put, buy low, sell high.
This is more like buying tomatoes from a farmer and selling them to the community.
For you to do this successfully you’ll to spend time on various bitcoin exchanges comparing prices. Bitcoin price and exchange rates vary in various bitcoin exchanges.
Just like starting any other business, you have to do bitcoin price comparison. That will help you make good decisions and set reasonable prices to sell.
There are P2P bitcoin exchanges that already give you a platform to sell. Local Bitcoins, Paxful and Condirect are just some of the P2P exchanges to use as an individual.
This also comes with it’s own risks, since the bitcoin price is volatile. No one knows when the bitcoin price will go up or down. You might have to take a loss sometimes if the bitcoin price goes in a direction you were no anticipating.
Create bitcoin products or services
If you want to make money with bitcoin you will need to be creative. Coming up with valuable products will be appreciated by bitcoin users.
A product can be a physical item like the bitcoin hardware wallets we’ve already seen. Another can be a software or some kind of a service. As long as the product can add value to the users.
For example id you decide to create digital products or even tangible products you can use bitcoin platforms to sell them. One of the platforms is Bitify, this platform allows you to sell any type of product and it uses bitcoin.
If you look at it, there just so many ways to make money with bitcoin, I can go on and on. If you have already made money through anything and earned it in your currency you can replicate that and earn it in bitcoin.
The same methods of making money online or at home still apply, you can choose one and stick to it.