The Bitcoin market has grown enormously over the last decade. But, to better understand how to make money with bitcoin, you need to do extensive research and get some facts right. And that’s why we are here.
Bitcoin is one crypto coin that has maintained the top position for a whole decade, with so many people investing in it.
From its market entry price of around $0.08 in 2010 to a high of up to $65,000 in 2021, it’s quite evident how bitcoin has increased in value. In fact, when it comes to making money online, BTC has been an excellent source of easy money for many investors.
However, seeing the fluctuations that this crypto coin has seen over the years, one question currently lingers in many investors’ minds. Can people still make money with bitcoin? Remember, although it has made so many people extremely rich, it has also caused immeasurable losses to some.
Well, the fact is, it’s still very possible to make money with this crypto coin. And today, I am so ready to teach you just how to make money with bitcoin.
Table of Contents
How to Make Money with Bitcoin
Here are the most common ways to get yourself some money with bitcoin.
1. Short-term Trading
This is among the most popular way, which people use to make money online with bitcoin. The only challenge here is that one must have trading skills to succeed in this option.
Here, you sign up to one of the numerous bitcoin trading platforms, buy the digital currency, BTC, and wait for it to gain. Once you notice a spike in the BTC prices that impresses you, you can trade your coins and enjoy the profit.
The good thing about bitcoin trading is that most platforms will offer a 24/7 trading option. This means that you are free to trade any time of the day, at your convenience. And, you can do all this from the comfort of your house using your smartphone or PC.
Top Picks to invest in Cryptocurrency
- CoinMama: offers an easy, fast & secure way to buy cryptocurrency. You can buy bitcoin, ethereum and other popular cryptocurrencies with credit card, debit card, Apple Pay or bank transfer. Create FREE crypto trading account
2. Investing (Long-term Trading)
For those without a knack for trades analysis, this option offers the easiest answer to the question – how to make money with bitcoin. Here, you don’t need any specific skills. And, while it’s pretty risky, it also doesn’t demand much effort from you.
Investors simply buy a certain amount of BTC and hold it until the prices spikes high enough to resell and make profits. The only challenge here is that you don’t know if the coin’s price will rise or fall. And there is no specific time to hold on to your crypto – it can be days, months, or even years.
If you are looking to make a long-term investment in bitcoin, this is the route many people follow.
3. Bitcoin Mining
Bitcoin mining can be done in two main ways: You can do personal mining or try cloud mining. The first method (personal mining) isn’t all easy and might not be the best solution of how to make money with bitcoin. This is because the coin is subjected to mainstream success, having enormous demand but with limited supply.
On the other hand, cloud mining has become quite popular in the recent past. This is because it’s easy, and you don’t have to own any software, hardware or do a lot of work. All that’s required of you is a single investment for the contract, and you receive profits every month (based on your plan).
This is one of the best ways to create a bitcoin passive income stream without much hassle.
4. Accept Bitcoin Payments
Yet another easy way of how to make money with bitcoin is accepting payments in the form of bitcoin. For instance, if you’ve worked as a freelancer with platforms like Fiverr or Freelancer, you know how online payments are made.
Now, instead of receiving your payments in USD, you can request your clients to be paying you through bitcoin. Some platforms already do that, but you can also create your bitcoin wallet to accept payments.
5. Bitcoin Lending
Do you know you can earn even more bitcoins doing absolutely nothing? Bitcoin lending offers you an incredible opportunity for that.
How does it work?
After you have invested your money in bitcoin, some platforms give you a chance to earn interest on that investment. That’s right! All you need is to hold on to your coins and not sell them for a specific time.
The platform will lend out your bitcoin to corporate clients, then pay you interest for it. This model works in the same way as a saving account in banks. By simply letting your bitcoin lie in your wallet without selling it, the platform conducts business with it and compensates you for that.
Since you’ll be paid in the same cryptocurrency you’ve invested, it means that your bitcoin amount will grow even without an upward price fluctuation.
When it comes to bitcoin lending, I would recommend you try out the BlockFi platform. BlockFi pays interest on your “saved bitcoins,” at a rate of up to 8.6% Annual Percentage Yields (APY). Also, like other exchanges, it allows you to sell or buy crypto as you will.
The Best Platform to Buy or Sell Bitcoin
One crucial step when learning how to make money with bitcoin is to identify the best exchanger. This way, you don’t become a victim of the many online scams salivating for your money. Over the years, this platform has proven to be legit and has gained users’ trust.
Coinmama is among the leading cryptocurrency exchange platforms, and that makes buying and selling crypto coins considerably easy. Here, you can buy or sell bitcoins using your debit card, credit card, or even a simple bank transfer.
So, if you are looking for an easy way how to convert bitcoin to cash, Coinmama offers exactly that.
Established in 2013, Coinmama had a sole mission of simplifying how the world buys and sells BTC. Since then, the platform has expanded its scope to include seven other crypto coins such as ETH, XRP, LTC, and more. Currently, Coinmama has served over 2.8 million users in over 190 nations and regions.
Can you Short Crypto?
Crypto shorting is the act of borrowing a cryptocurrency, selling it at the current price, and waiting for it to drop in value to buy again. For instance, if you sell a bitcoin at the current $37,000 price, wait for it to fall in value, and buy it at $32,000, you’ll have made $5,000 in profits.
While this is risky, as you never know whether the coin’s value will fall or rise, it’s an easy way to make quick cash – especially with the unending fluctuations in the crypto market. This helps to answer our pressing question – can you short bitcoin? And the answer is YES.
Making money with bitcoin is, thus, not a hard task. All you need is to have the right information and know the best crypto platforms in the market.
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