How to Make Money Online With Bitcoin
You may have heard of the term Bitcoin , but you might not know what it means or how to get some. That’s okay; many people are in the same boat when it comes to this new currency and method of payment. This guide will teach you all about how to get free bitcoin and start saving and making money online with cryptocurrencies such as Bitcoin and Ethereum today!
Earning without doing anything
Nowadays, we all have limited time, and many of us don’t have extra money. So how do you make money online if you aren’t keen on doing a lot of things online? Well, you can try making money without doing anything at all. You will be surprised how much money can be earned by simply setting up a few accounts and letting your work speak for itself! The internet is full of money-making opportunities waiting for you. And some of them can be done without even having to get out of bed.
Here are a few ways to make money online with bitcoin:
[Explain each way.]
Investing in crypto
Just as with stocks, there are plenty of ways you can invest in cryptocurrencies. One popular option is through a cryptocurrency exchange. Coinbase, for example, offers a simple-to-use interface and doesn’t require much more than an email address to start buying/selling cryptos. Just be sure you invest responsibly (i.e., don’t sink all your money into bitcoin). In fact, if you want advice on how you should allocate your investment dollars, feel free to ask me! I have friends who I trust that have been able to help out people looking to invest. Also, note that investing requires some time—you won’t just wake up one day and see instant returns. That said, here are some tips:
- Don't go crazy with investing - unless you really know what you're doing or want to lose your money; 2) Invest early - crypto will only get bigger from here; 3) Take advantage of dollar-cost averaging - don't put all your eggs in one basket; 4) Keep at it - it's easy to get discouraged but persevere and stay patient; 5) You need at least $10k before it's worth even thinking about investing otherwise consider altcoins like Litecoin or Ethereum instead because they're cheaper.
Selling bitcoins online
In an effort to increase digital currency adoption, bitcoin services company Coinbase is partnering with websites like WordPress and Reddit. When someone clicks a link on those sites, they’ll be directed to Coinbase’s sign-up page. Anyone who signs up with a valid email address will receive $5 worth of bitcoin deposited into their account. The company says it plans on expanding its reach over time, potentially reaching millions of new people through social media platforms and popular content websites. Coinbase has also announced that it will begin allowing merchants using its platform to accept bitcoin payments for free in January 2018. To make that happen, all Coinbase customers need to do is upgrade their accounts by linking a bank account or credit card before Jan 1st.
Playing games
In order to make money, you need to invest your time. It can seem like an annoying thing but most of us already do that. How about playing games for money? In some cases, you can earn a decent amount of cash by playing games. However, it is difficult to find out which sites are legit and how much you could earn from them. The best way would be to compare their offers with others and earn only when something is profitable for you. Check out our complete guide here: Get Free Bitcoins From Games. We’ve listed many ways in which you can get free bitcoins without investing real money. Also, we’ve described everything step-by-step so that everyone will understand what they have to do. So, let’s get started!
Running an online shop on eCommerce platforms like Shopify
One of the best ways for you to make money online is by using a simple platform like Shopify. At its core, Shopify is an eCommerce store builder. They allow people like you and me to sell anything we want without having an actual physical storefront. In fact, most people who use Shopify don’t even have a real storefront in any shape or form — but they still manage to make tons of sales because everything is done online and on our phones. If you’re interested in learning more about how you can use Shopify, click here! I’ve also written an entire post on just that topic, which you can read here.
Lending and trading
There are two popular ways of making money with bitcoins, mining, and trading. Mining and trading are both highly risky businesses because there is little to no barrier to entry. Most exchanges charge zero fees, meaning that it costs you nothing to buy or sell bitcoins, which also means you’re free to make as many trades as you want. Due to fluctuating prices and the potential for fraud, however, it’s not advisable for beginners—and even some experienced traders—to trade bitcoins for fiat currency (regular cash). When trading bitcoin futures or swaps on platforms like BitMEX or LedgerX, users don’t hold any of their funds in a centralized account but instead sign over ownership of their coins in a proof of debt transaction. In case something goes wrong, such as one party failing to live up to its side of the contract, these arrangements allow users to recoup their losses. Lending: If you have extra bitcoins that you would like to earn interest on without having to worry about day-to-day fluctuations in price, lending your coins out is an option worth considering. While most exchanges do not allow funding through PayPal or credit cards, peer-to-peer lending sites do offer these options. One site called BTCjam allows borrowers and lenders from all around the world to participate in multiple loan transactions using bitcoin as collateral.
Peer-to-peer exchanges (LocalBitcoins, Paxful, etc.)
A more and more popular way to get free bitcoin is through peer-to-peer exchanges. These exchanges allow you to exchange regular currencies (dollars, euro, yen) for bitcoin. The two most popular exchange options are LocalBitcoins and Paxful. While both provide an easy way of getting free bitcoin, you’ll have a much better chance at getting free bitcoins through LocalBitcoins than Paxful. This is because LocalBitcoins gives away actual bitcoins while Paxful only gives away points that can be exchanged for bitcoins once they reach a certain value. To use LocalBitcoins or Paxful, all you need to do is sign up for an account on their website and start looking for people in your area willing to trade bitcoins with you. Once you find someone willing to trade with you, all you need to do is arrange a time and place where you can meet up in person and exchange cash for bitcoins! You may also want to check out our guide on how to buy bitcoins online.