Bitcoin (BTC) has been in the news again, this time for gaining a staggering 15 percent in three days. That is despite anxious markets reacting to geopolitical tensions, the upcoming US election and the worrying situation regarding the coronavirus in China.
However, this fascinating digital currency that opened our eyes to a world where secure global payments could be made instantly and cheaply, has not been without its ups and downs. Investors have had to hold on tight during the stomach-clenching rollercoaster of ups and downs, some making a fortune while others rack up huge losses.
However, as we enter the eleventh year since its inception and with hundreds of rival digital cryptocurrencies in its wake, it seems safe to assume that Bitcoin is here to stay. In fact, looking at the current price of $9,356, it seems surprising to remember that a Bitcoin was worth less than a penny in 2010.
make money with bitcoin
But what about those of us who haven't been in on the Bitcoin action? Is it too late to make money with Bitcoin?
Not at all. There are thousands of ways Bitcoin and other cryptocurrencies can be added to our portfolios, to tempt everyone from seasoned investors to newbies who just want to have a little fun. Here are some of the most popular methods:
1. Micro-earnings
If you are blessed with patience and don't mind getting bored with ads, you can earn free Bitcoin just by doing small tasks.
Numerous Bitcoin faucet sites work on a Pay to Click (PTC) basis; Visit the website and complete assigned tasks, either by clicking a captcha, playing a game or watching an ad, and get rewarded with small amounts of Bitcoin (Satoshis). Check back to the sites often and watch your earnings add up. Sounds perfect.
But before you hand your resignation letter to your boss, keep in mind that it's not called microearning for nothing. A full hour of ad viewing can usually earn you between $0.05 and $0.40. It's not the most lucrative way to make money, but it's free.
2. Create a faucet
Using faucet sites is great for earning small amounts of coins, but if you're willing to put in some time and effort, you could greatly improve your profitability by producing and running a Bitcoin faucet yourself.
By creating your own website, you can charge businesses to run ads on your site and get paid in Bitcoin. Bring in enough traffic and that revenue can add up fast.
Running a faucet is not without its drawbacks; You will need some capital to set it up and manage the website and your users will require time and effort. That said, once it's up and running, a site with good traffic can generate an income of around $1,000+ each month.
3. Become an affiliate
Another easy way to earn a surprising amount of money can be to join a cryptocurrency company.
By signing up for their affiliate marketing program, you agree to promote that product or service for free and for every paying customer you bring to the business, you earn a commission.
After joining the program, you will receive a personalized affiliate link. Then you just need to promote it. This can be as simple as placing the business ad on your website or adding the link to your social media posts, promoting the business on other sites, or even running an advertising campaign.
Affiliate programs can be a lucrative way to earn money and more cryptocurrency companies offer them than you think. The affiliate program run by Currency.com, for example, gives its members an impressive 50 percent of the revenue from the new customers they bring in, as well as giving those new customers a 12 percent discount on their trading commissions.
4. Trade
The most obvious method of making money with Bitcoin has to be trading.
The allure of cryptocurrency trading is understandable. While global stock exchanges are normally only open from 9:30am. m. to 4:30 p.m. m., the international Bitcoin exchanges never close, which means that the coins can be bought and sold, 24 hours a day, 7 days a week, 365 days a year, anywhere in the world.
By registering on a trading platform, we can exchange our fiat money for cryptocurrencies and, by anticipating the market, aim to make money trading Bitcoin. Investors don't even need to feel chained to a desktop, as some companies produce apps for trading on mobile phones, allowing traders to act quickly wherever they are.
Of course, this is not for the faint of heart. The volatility of Bitcoin has had the power to make even hardened traders nervous and anxious. Additionally, disturbing stories in the news have left investors asking "is it safe to buy Bitcoin?"
Fortunately, not everything is pessimism. If you are considering becoming a Bitcoin trader, the rules are the same as with all other operations. Do your research, understand how bitcoin exchanges make money, and find out how the ones you care about will keep their coins safe.
Once you've chosen an exchange, put together a trading plan that makes it clear how much you can afford, for how long and how often you'll trade, and whether you intend to use leverage. As most traders will lose money at some point, it is vital to only trade with what you can afford to lose, but you may make some profits along the way.
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