How to Make Money With Bitcoin
How to make money with bitcoin: we’ve all heard about bitcoin that in 12 years of its existence has been to the Moon and back. Currently back to the Moon and expected to go far beyond.
We’ve also heard so many stories about people making dreamy riches with bitcoin, going from fool to cool. Are they true and how to actually make money with bitcoin?
To make it easier for you, we’ll look at the reasonable ways to profit from the first cryptocurrency ever created – in this blog post. Let’s go!
How to Make Money With Bitcoin The Reasonable Way
In this article, we’ll focus on what you can really do rather than describe the infamous mining for the sake of word count.
What’s wrong with mining bitcoin? It simply leaves newcomers very few – if no – fighting chances as competition has become fierce. Moreover, the cost of equipment and electricity make mining even less attractive in terms of profit. It’s a difficult and very expensive process.
Don’t worry, there are other ways to get bitcoin with less blood. Read on to get your questions answered!
Buying and Holding Bitcoin
Buying and holding BTC must be one of the easiest ways to make money with bitcoin. What’s the easiest way to buy bitcoin? Through a fiat-crypto exchange, no doubt about that. Better yet, through a regulated platform with the industry’s fastest transaction times and lowest fees – like CoinMetro.
Making money with bitcoin this way requires you to buy the digital currency once or several times and hold your assets, hoping that the price skyrockets. True that, the sky’s the limit. By looking at the graph below, we can only guess how happy the early HODLers* must be.
* Mind you, not a typo. HODL, or Hold On for Dear Life, is a crypto slang term that refers to holding cryptocurrency rather than selling it. The term indeed originated as a misspelling of the word hold.
If you’re looking to buy your first bitcoins, try CoinMetro. Driven by innovation and regulation, we stand out in the world of crypto for offering the industry’s lowest fees, the coolest features, and the very best service – a dream come true for a novice trader.
Day Trading Bitcoin
How to make money with bitcoins online? You could try day trading. Day trading is buying and selling digital currencies with the aim of profiting on the same day and closing open positions by night.
This way is relatively easy but may be tricky in the long run. To profit from every price fluctuation, you must be really lucky. The experience has shown that it’s nearly impossible to win consistently – just as it is highly unlikely to constantly fail.
If you’re interested in the subject, our blog is a treasure. Check out the ultimate guide to day trading crypto – the whats and hows you need to know before embarking on the day trading journey. Also check out this guide on how to make money day trading bitcoin. And last but certainly not least – check out our day trading strategies for 2021!
Swing Trading Bitcoin
In addition to day trading bitcoin, you could explore the opportunities swing trading offers.
Swing trading is the practice of buying and selling crypto after a certain degree of movement in the charts. This trading strategy shouldn’t be too complicated to learn, considering the fact that the process is logical and that there are tools to help you out.
It’s not as fast-paced as day trading, which means you have more time to understand how things work. You will also be able to do more thorough research before closing your positions – that’s why swing trading is advisable for beginner traders.
In a nutshell, copy trading allows you to copy the deals of more seasoned and successful traders either automatically or manually. Point is, you still need to make an investment.
CoinMetro offers everyone a chance to profit from copied crypto deals. You can browse the list of traders available, examine the ones you like the most, and start mirror trading in just a few clicks.
Please understand that copy trading is especially good for getting valuable insights into real crypto trading and researching how things work. Copying things blindly may not work in the long run as even the best deals might fail in some market conditions.
Affiliate Marketing and Referrals
A lot of crypto companies offer affiliate programs. This is one of the sure ways to earn bitcoin. You refer your friends and family to the exchange, and in return, you earn crypto. It’s definitely a win-win, especially if you trust the company you’re referring, not do it for the mere sake of profit.
Coincidentally, CoinMetro also has an affiliate program. If you enjoy what we do and would like your friend to hop on the CoinMetro train, all it takes is sharing your referral link.
If your profile verification is complete, your account is ready to benefit from the best affiliate program in the crypto space that is rewarding for everyone! Just head over to your affiliate dashboard to find your referral link, together with branded content and an overview of your affiliates.
Below, we added a cool infographic for you to get a better idea of our affiliate commissions.
Here’s how to get bitcoins free – but with enough patience. Earning free bitcoins instantly would be a luxury. However, if you’re patient enough, you can get them almost free, and pay-to-click (PTC) websites are the key.
These easily accessible bitcoin business opportunities serve as middlemen between advertisers and consumers. PTC websites require you to carry out small tasks. The most popular ones include clicking certain links or watching certain videos for small amounts of bitcoin. Small is a keyword. Easy free bitcoins but can be tedious when aiming at a higher profit.
More ideas on how do you get bitcoins? Think bitcoin lottery.
To put it simply, a bitcoin lottery is similar to the regular one. You are required to purchase a ticket that comes with a set of numbers.
At the beginning of the game, a certain amount of numbers will be randomly drawn. As with any lottery, the ultimate aim is to match as many of these randomly drawn numbers against the numbers your ticket came with. Also, the name bitcoin lottery suggests that the prize money is paid in bitcoin.
Some platforms even run free bitcoin lottery, which usually occurs weekly. Good luck.
Being a regulated company, we feel obliged to warn you that the majority of bitcoin lottery providers are not regulated and that you could lose money + gambling is not a sustainable source for income and can come with consequences.
A Bit of a Roundup
We’ve just looked at the reasonable ways of how to earn bitcoins online. There are more, but we aimed to focus on universal recommendations to avoid “overadvising”. It may be confusing in its complexity for beginners or those who need to make some profit urgently.
How to make money with bitcoin? If you’ve got time on your hands, try buying and holding. It’s very easy and only requires you to make an investment.
If, however, time’s running out and you need to make some cash really fast, dig swing or day trading bitcoin as well as the opportunities pay-to-click websites offer.
Whether you decide to HODL or day trade, CoinMetro is your best trading partner. Jump on board today for the best crypto experience!