The BITCOIN market is growing at a faster rate than ever. It is a well-known cryptocurrency established in the year 2010. The initial value of bitcoin in the year 2010 was around 0.08$ and it is as high as $65000 now. It’s quite proven that bitcoin value is now increasing. Being a reputed web development company in India, it becomes important to list bitcoin importance in the coming years. Thus, it opens up the door for making money online as bitcoin(BTC) now has become an excellent source of money for investors
The BTC market keeps on fluctuating, which makes it obvious for people to raise a question in investors’ minds if they still can make money with bitcoin? Well to know, it is still possible to make money with bitcoin.
Let us explore the best 5 ways to make money using bitcoin!
Buy and Hold
Buying bitcoin and keeping it on hold is one of the most straightforward and initial steps of learning to earn money with crypto. Wanna know how it works: here are a few steps.
– Open Bitcoin wallet – signup to Paxful Pay
– Buy bitcoin fund transfer or any other mode of payment
– Hold on to your bitcoin and wait for the price fluctuation – you have to be patient
The main advantage of buying and holding is that you can hold your bitcoin to sell for weeks, months, or even years before you sell it. This technique has now become so popular that people over the internet named it HODL. It also holds forums online and has become a popular acronym for Hold on for Dear Life.
Accept bitcoin payment
As bitcoin continues to evolve, more and more businesses are seen accepting bitcoin for the deal for their goods and services. If you are running your business and are willing to know how to make money using bitcoin, then it’s time for you to consider taking bitcoin as payment for your product. Once you integrate the bitcoin into your payment, the bitcoin system will widen your reach and shall make your transaction more accessible to customers, and thus accepting BTC becomes easy. If your business is online, put a banner on your homepage to integrate it well into your website. This will help customers to send funds directly to your bitcoin wallet.
Bitcoin mining is one of the first ways a user can earn bitcoin where miners use powerful computers to solve complex mathematical problems. When the code gets cracked, they get rewarded with bitcoin. It is a challenging race between the problem solvers to solve the block fastest and reap the awards. Before the miners were able to make money by mining bitcoin using home computers. In today’s scene, you will require top-tier equipment that is pretty expensive.
To get into more mining competitions, you can also join bitcoin mining pools or mining clouds. A bitcoin mining pool is a community of a group of miners who combine their computing power to solve complex mathematical problems much faster. A bitcoin mining cloud is a cloud that connects their computing power. This helps the miners to not install and run the hardware and software directly. In this case, the miner’s fees are paid from the earned transactions and then are split among the people in the group.
Earn more bitcoin by doing nothing. You might be wondering how! It’s simple. You can lend bitcoin and make a great opportunity to earn money. It works simple.
One you start investing your money in bitcoin, there are some platforms that give you a chance to earn interest on the money invested. Just hold the coins and don’t plan to sell it for some specific time. These platforms will provide you an opportunity to lend your bitcoin to corporate clients, who will then pay interest for it. The model works the same as a savings account in the bank. Let your bitcoin relax in your wallet. Such platforms help you to conduct business and compensate you for lending. Ofr bitcoin lending, there is one platform available BlockFI that pays interest on your saved bitcoins at the rate of upto 8.6%. Aso, this platform allows you to buy or sell crypto on your wish.
Now you know that bitcoin is also accepted as one of the payment methods,it’s time for you to take one more step further. Start a business that collects Bitcoins and exchanges it with gift cards. This process is referred to as dropshipping. It is gaining popularity now. Dropshipping is considered as one of the effective ways to sell discounted products and make a discounted profit. Let us see how it works.
Suppose you want to resell a gaming headset, just login to your paxful account and buy bitcoin using preferred payment mode. Later you will be able to sell/ exchange your gaming headset for a razor gold gift card at a great discount. Then you can use this gift card to buy a gaming headset and ship it to the customer. By this technique, you can make profit and the customer in return also gets a great deal for the product. This method is long and tricky with plenty of effort, but it’s one of the best ways to earn money with bitcoin.
Bitcoin is continuously going to keep evolving
Earning money through bitcoin is easy. Give it a try! You never know how much your efforts can lead you to great profits. When the crypto economy will mature over time, some constant development will be seen in the ways people find to earn money using bitcoin. Even the platform Paxful right now is offering endless earning opportunities to its fellow customers. Do your research before starting your journey towards earning through bitcoin and figure out what works best for you. Start making money with bitcoin- all you have to do is be creative. Start your bitcoin journey today!