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There are plenty of ways to MAKE MONEY WITH BITCOIN outside of the traditional investment routes that you’ve probably had promoted to you ad nauseam (extensively) by now. As the old saying from the gold rush goes, “You can either mine for gold or you can sell pickaxes.”
Below are useful tips on HOW TO MAKE MONEY WITH BITCOIN
Mine or trade? The Bitcoin profits
By mining for Bitcoin, as long as the markets remain active you can basically make money for nothing.
But the problem is, mining is such a tough gig now that it is hardly worth it.
Turning your computer into a miner will likely make it noisy and heat up.
It would likely take you a long time to even mine a single Bitcoin, by which time you probably would have spent more on electricity.
However, if you have access to some serious computing power and you don’t have to pay the bills, you could make some easy money here.
That is why we advice people to mine with Bitclub Network
All you need is buy a mining pool and you start earning daily without paying for electricity or stressing your computer
Although similar to day trading, CFD does not involve actually buying or selling any Bitcoin.
Instead, you buy a contract for Bitcoin, meaning that you don’t actually have to hold or store any Bitcoin.
One of the advantages of this is that you can short Bitcoin, meaning that if the price goes down, your profit goes up, allowing you to hedge your trades.
One of the disadvantages is that you have no control over the Bitcoin you trade with, as you are not the owner of any Bitcoin or the controller of the private key.
It can therefore only be used for trading purposes.
You Can Make Money With Bitcoin Through Writing
If you take the writing route for Bitcoin and your blog or website is a success, there is potential to make money through Bitcoin affiliate marketing.
This is a form of marketing where you can get paid a certain percentage of commission for every referral that you bring to an existing Bitcoin business.
If the business operates an affiliate programme, and your blog is read by enough people who link to the business and purchase the product offered, then the commissions can potentially be unlimited, for minimal outlay other than the drafting of the original blog post.
Looking to earn some extra cash or build up your wealth portfolio?
Bitcoin is a great option for doing so. When most people think of earning money through bitcoin, they think about mining and investing in the all-digital currency, but these days there are numerous other methods people can use to generate bitcoin and cash for themselves.
Though mining is still profitable and good. You can Buy a Mining Pool Here
The cryptocurrency industry is still relatively young, and there aren’t many resources online to learn more about it. As interest in Bitcoin continues to grow, the demand for cryptocurrency writers and content creators will increase with it.
As a cryptocurrency writer, you may be able to charge a premium for your services because of the complexity of the topics and the recent boom in popularity.
Beyond writing informational content, several blockchain product companies pay active forum contributors to promote their product across popular platforms like Reddit and Facebook.
Bitcoin Information Websites
Another strategy to make money from Bitcoin is by starting a Bitcoin website. However, this is one of the most underlooked opportunities to make money with Bitcoin.
Once again, you can provide relevant content to visitors on your site that focuses on anything from market trends and coin performance (like CoinMarketCap) to explanations of advanced trading strategies.
There’s an endless amount of possible website subjects. With enough visitors to your site, you can monetize the traffic through referral links and advertisements. Unlike a faucet, this type of website will basically explain the basics of Bitcoin to new users, while making money from ads and affiliate offers.
The first and lowest risk way to make money with Bitcoin is starting your own Bitcoin faucet.
Bitcoin Faucets are websites which give out bitcoins in exchange for time spent on the website.
The business model behind bitcoin faucets is simple, monetize the traffic via ads on the site. When you sign up to the site with either your bitcoin address or your email or both, you are presented with a captcha to fill in order to receive a small number of bitcoins
A Bitcoin faucet is a type of website that gives away small amounts of Bitcoin to its users, with owners making money by placing ads on their website and pay individuals who visit the ads or complete surveys.
This industry amounts of over 50% of the traffic on leading Bitcoin websites today. Faucets let visitors earn a percentage of the Bitcoin that they give away to any visitors that you brought in.
This has resulted in users using a Bitcoin faucet rotator that allows users to quickly surf different faucets and earn a commission through rotation links for each faucet visited by you.
However, similar to PTC websites, Bitcoin faucets are not a realistic way to earn good money, with even the best faucet rotators being applied still only enabling users to make no more than $1-2 per day.
Although not as popular as normal trading, some exchanges let you loan out your Bitcoin to other users. On Bitfinex and Poloniex, you can make money from your Bitcoin through margin funding.
Remember, bitcoin is a currency. This means you can earn money off of selling just about every type of product and service simply by accepting bitcoin as payment. Even major websites, like Overstock.com, now accept bitcoin as payment.
Although not as popular as normal trading, some exchanges let you loan out your Bitcoin to other users. On Bitfinex and Poloniex, you can make money from your Bitcoin through margin funding. When you margin fund, you provide Bitcoin to other traders who are making leveraged margin calls. If you have a higher risk tolerance, you can take advantage of a program like SALT. SALT is a relatively new platform that provides cash loans when you give your cryptocurrency assets as collateral. Using the lending program, you can take your cash loan and re-invest it into the crypto market with the goal of increasing your position before your loan expires. Once again, this is a risky strategy that may result in you losing both your loan and blockchain assets if the market does poorly.
Products & Services
As with any new industry, there’s ample opportunity to create products and services that fill a gap in the market.
Whether it’s a portfolio tracking app, a new cryptocurrency, or even a blockchain-based game about cats, there’s plenty of options for you to choose.
The key to coming up with a great idea is by keeping your eyes and ears open to the pain points people (including yourself) are experiencing, and finding a way to address or circumvent them.