Many people have Bitcoins and do not know how to profit from them in huge margins, while others are struggling to earn BTC fractions online in Canada. What if we told you that there are several ways for you to make a great income out of earning Bitcoins, or using your existing Bitcoins? If the prospect of making more profits through BTC appeals to you, keep reading our blog for 12 ways to make money with Bitcoins!
1. Bitcoin Mining
A decade ago, Bitcoin mining wasn’t as difficult. Some of the first crypto miners could mine thousands of BTC with just their computers at home. Today, mining BTC requires top-tier computers and equipment that requires lots of electricity and generates tremendous heat, which is an expensive investment in the first place. Since Bitcoin is famous now, there is a lot of competition to mine BTC as quickly as possible
As the mining competition becomes tougher, the need to have superior equipment than the rest is the way to get yourself profits. Many miners move to countries with cheaper electricity such as China to be able to run their supercomputers 24/7.
2. Buy and Hold Bitcoins
Many people invest in bitcoin to make profits and do so by purchasing and holding BTC. HODLing is buying and holding BTC and one of the easiest ways to grow your earnings. It is also a very beginner-friendly trading strategy. All you need to do is buy Bitcoins and store them in a cryptocurrency wallet for secure holding. No matter how the prices change in the short term, do not sell. The meaning of HODL is Hold On for Dear Life and now an official trading trick. When you are immune to short-term market fluctuations, you can finally sell it off years later when the value of BTC gives you a handsome profit margin.
3. Trade Bitcoins
While Holding is playing the long game with Bitcoin, trading in BTC is the fast-tracked version of it. To trade in Bitcoin, you need to have some knowledge and experience of how a stock exchange and stock trading works; it will give you the upper hand in day-to-day transactions to be able to withdraw them from a Bitcoin ATM in Canada. You also need to research and practice different kinds of BTC trading to learn which suits you the best, such as:
- Day trading
- Swing trading
- Arbitrage
4. Affiliate Marketing
These days, there are several companies using affiliate marketing to reel in new customers. This kind of marketing tactic gives incentives and rewards to the existing customers to add their acquaintances into the fold as well. As payment or reward, companies give away Bitcoins upon reaching certain milestones. There are many affiliate marketing options out there, so doing some research will help you find your niche.
5. Accept Bitcoins as Payment
As the cryptocurrency market continues to grow and evolve, we’re beginning to witness an increasing number of businesses starting to accept Bitcoin in payment. If you already have an established business, accepting BTC for payment transactions is a quick, safe, and even lucrative way to make good profits. Make sure to add your online wallet and payment details on your storefront and online banner once you have the set-up complete.
6. Use a Bitcoin Faucet
If you are someone who loves watching ads and attending surveys, there is a way to get more than just freebies out of it. Bitcoin Faucets are growing reward channels that pay Bitcoin fractions to people to complete some tasks online, such as watching advertisements, playing promotional games, and answering surveys.
7. Try a Micro Job or a Pay-to-Click (PTC) Website
Many sites will pay you in BTC fractions to watch an ad or click on the link to a page hosting ads. Keep in mind that you will need to do a lot of clicking and spend hours to get a substantial Bitcoin payment. If you have the time and patience, you can easily earn some legitimate side money every day by simply watching ads, clicking on sites and links!
8. Write about Bitcoin
Since cryptocurrency is a relatively new genre and only a few content writers have genuine knowledge about this niche, there is lots of space for growth if you’re a freelancer. However, this also means that the online media is flooded with new writers who regurgitate and spin the same content repeatedly. If you have a good understanding of Bitcoin and cryptocurrency, you can start a blog and share original insights, which will be well rewarded in the future. Bitcointalk is one of the oldest forums for Bitcoins created by Satoshi Nakamoto himself. Used by millions, you can get verified if you post consistent content with authority and be paid for it.
9. Bug bounties
Bug bounties are rewards offered to code bug detectives by software developers and organizations. For Bitcoin fractions and BTC, the task is to find exploitable loopholes and vulnerabilities in their software. This is offered by many organizations to improve their customer experience and security protocols.
11. Lending Bitcoin
Since BTC and other cryptocurrencies are decentralized currencies, you can make simpler transactions with them if you want to lend them at an interest rate. There are no regulatory bodies watching over such transactions, so you have the opportunity to earn a lot of interest money, but also will need to be very careful while setting up collateral with the borrower in case things go sideways.
12. Online Betting with Bitcoin
The online betting market is one of the most popular places you will find an easy flow of Bitcoins. Since there are no regulations and laws that stop people from gambling using Bitcoin and the privacy it offers, it can act as a double money-maker for those on a winning streak. The decentralized cryptocurrency is a popular choice to bet on horse racing, pro-league games, and other betting events.
Now you have a list of 12 ways to make money with Bitcoin that will help you earn profits both in the short and long term, all you need is patience. We hope this blog helped you discover what your preferred mode of Bitcoin profiteering is!
