These are the Best Ways to Make Money Using Bitcoin (BTC)
Investing in Bitcoin can be a risky venture, especially since the crypto-market is so speculative and can swing massively within the space of a few minutes. However, with these swings also comes a high potential for making hefty profits.
In this article we will look at some of the ways in which people can make decent money using BTC on a day to day basis. These methods while quite simple and straightforward, do require readers to possess a certain level of knowledge and information related to the world of crypto. Let's dive straight in:
Using Affiliate Marketing Means:
For those not aware of this business model, affiliate marketing allows people to earn a certain amount of commission for bringing-in/attracting individuals to existing Bitcoin related websites. However, the revenue within this market is driven completely by the amount of web traffic a user can generate for his/her clients.
Micro Earning Avenues:
As the name suggests, these methods payout individuals (via small amounts of Bitcoin) for completing certain miniscule tasks. On paper such avenues look very appealing but some of the tasks required for completion can be quite arduous, time consuming. Listed below are a few of the most popular micro-earning avenues in the market today
- Bitcoin Faucets: These kinds of websites pay visitors in BTC for filling out various surveys/ forms as well as for watching certain ads. With that being said, the earnings from such rotator faucets are meager.
- Micro Jobs: These tasks allow users to earn small amounts of BTC for completing a highly specific piece of work. Coinworker is an excellent example of such a website, particularly because it offers customers with varied paid-tasks such as testing plugins or retweeting a post.
Writing About Bitcoin and Other Cryptocurrencies:
One core route that is being taken by a lot young financial enthusiasts today, is that of writing about Bitcoin. As things stand, there are many websites looking to hire quality writers who have good knowledge of the blockchain/crypto space. Not only that, you can also choose to launch your own crypto oriented website, wherein once enough monthly viewers start to flow in, various ICO projects and investors will pay you to advertise certain products, press-releases on your website.
This is a highly lucrative avenue which requires a lot of skill and deep knowledge of the global crypto markets on behalf of the traders. However, one thing to bear in mind when choosing such a path is the volatility of this domain and how traders can lose thousands of dollars within a matter of a few minutes.
Offering Customers With Unique Crypto Services:
There are many different roles via which one can contribute to today’s burgeoning crypto ecosystem. For example, experienced individuals can help in the development of projects by serving as web developers, software coders, marketers etc.
Many people may be familiar with the term Bitcoin Mining due to its increased use over the past couple of years. In its core essence, Bitcoin Mining is the process of creating new alt-coins via the use of certain software and hardware. Also worth remembering is the fact that it was definitely easier to mine Bitcoin in its early days, since now due to rising electricity costs (as well as several other factors), the process has become way more expensive and complex.
The last method on our list is also one of the simplest. When lending Bitcoin, the owner basically serves as a bank who gives his/her BTC holdings to another person for a fixed interest rate. While there are good chances of making decent profits via this method, if by a stroke of bad-luck the borrower refuses to give you back the amount in question, there is very little that you can to get you digital holdings back.
The above listed methods are some of the easiest and most accessible ways to earn money using Bitcoin today. With the crypto market currently laying low at the moment, it looks as though right now could be the perfect time for enthusiasts and first-time investors to dip their hands into this nascent market space.