Bitcoin, bitcoin, bitcoin. Seem’s like everyone’s making millions, aside from the few who catch the wrong side of the trend. Though the truth behind making money with Bitcoin, probably isn’t what you think.
How to trade Bitcoin
This is the way that most people make money with Bitcoin. They buy bitcoin at a low price then sell it at a higher price. Pretty simple to do.
And, there’s a bunch of platforms that make it easy for you to get started making money from Bitcoin trading.
You can buy Bitcoin and hold it in a Bitcoin wallet, but that’s not the easiest way to start Bitcoin trading.
Instead, you should think about using sites(like eToro) that allow you to trade on the price of Bitcoin. Without having to faff around with crypto wallets, network fees and wait times.
Personally, I like eToro because it’s easy to use. And, they have a mobile app.
There’s no fuss, it’s easy to deposit and withdraw, and they’ve got a bunch of technical charts that you can use to predict price changes.
How to flip Bitcoin for profit
Flipping bitcoin is where you trade person to person. Buying under market-rate and selling over market-rate.
To flip bitcoin you need to trade person-to-person. The buyer sends a payment transfer via Bank Transfer or Paypal, for example. The seller then sends them the Bitcoin upon receipt.
Finding customers is easy on sites like LocalBitcoins and Paxful, the most reputable direct person-to-person bitcoin trading platforms.
Bitcoin Gambling sites
I’m not going to advocate gambling Bitcoin, because gambling usually entails playing a game where the odds are stacked against you. But it’s still a viable option, should you get lucky.
They’re a bunch of places you can gamble Bitcoin, but make sure you choose reputable sites so you don’t get scammed!
Bitcoin mining for beginners
This was much easier in the early days of Bitcoin, as it now takes a lot of computing power to profitably mine. But, if you’ve got the spare processing power or extra computer(s), why not give it a shot.
How to setup NiceHash
NiceHash makes mining Bitcoin easy to do, and, you can mine other cryptos too. See which one makes you the most money!
How to lend Bitcoin for profit
Lending your Bitcoin hasn’t yet hit the mainstream. But there are some pretty good options where you can charge up to 15% interest to borrow your Bitcoin.
The money is available here because of the perceived risk, but the risk is mitigated by good debtor selection and the appropriate steps taken to “know the customer”.
At first, you might wince and worry about safety, but there are options that offer various security measures the keep you secure.
And after all, you don’t have to go all-in on one loan that may turn bad. You can diversify, and spread risk, and earn those lucrative 15% returns on top of wherever the price of Bitcoin rockets too.
As I mentioned at the start of this post, please share ways people can make money with Bitcoin in the comments section below, and I’ll add them to the post!