Bitcoin is the most popular cryptocurrency around and enjoys attention globally.
Since its inception people have been wondering, how to make money with Bitcoin?
Mining
Mining Bitcoin is the act of buying or renting hardware that can solve complex mathematical equations in order to get rewarded with a tiny amount of Bitcoin. Over time, you accumulate more and can spend your mining efforts on other endeavors, such as Forex trading for example.
Mining equipment usually costs thousands of dollars and isn’t a beginner friendly way to earn Bitcoin. You can try to ‘rent’ a machine from any reputable site, which means you won’t have to pay for the hardware. Instead, you pay a flat monthly rate and reap a percentage of the total amount of Bitcoin mined.
Trading
Trading Bitcoin can take several steps but it can be a lucrative hobby. The first step is to buy Bitcoin using local currency, then sell it when the value is higher than you initially bought it with.
Bitcoin trading is open 24/7, and you can make actions without having to go through a broker. However, the risks are as real and the market is more volatile compared to Forex or stock trading.
Trading can also mean using Bitcoin to get into Forex trading. You can then hire a broker and learn about how to trade successfully and for profit. Once this pays off you can invest and hold Bitcoin and sell it when the value soars.
Accept Bitcoin as Payment
You might already have several online businesses- operating a website, as an affiliate marketer or working odd jobs on the internet. You usually accept payment in the form of cash but now it’s possible to accept Bitcoin as payment.
Doing this is as simple as creating a wallet where you can give your ‘address’, or bank account number for crypto so they can deposit it there.