Connect with us

Crypto

Earning with bitcoin: Here’s how to do it

Trading is the easiest and fastest way to earn with Bitcoin. Here’s more of what you need to know.

bitcoin
Image: Unsplash

Bitcoin (abbreviated BTC) is a virtual currency created by Satoshi Nakatomi. The identity of this subject is still uncertain; some think he is a Japanese computer scientist, others a group of hackers from all over the world. In any case, the aim was to create a currency without external influences, therefore independent of central banks or financial markets.

The central aspect of Bitcoin is the encrypted transactions that take place inside it. Hence, all money exchanges take place through the Blockchain and are entirely anonymous. There is no central bank to control everything; the system continues thanks to investor confidence.

Here Bitcoin is the cryptocurrency it is experiencing has seen an awe-inspiring path since its inception in 2009 until today. All of this can be seen from the technical analysis graphs but also from the exchange rate and the quotation that they have towards the BTC / USD exchange rate (Bitcoin / Dollar).

Earning with Bitcoin: What Modes?

There are various ways to make money with Bitcoins, we will now analyze the main ones, and then we will illustrate to our readers the best way to be able to invest in Bitcoin in total security.

Mining

Bitcoins have characteristics that can be both purchased and generated. This last operation takes the name of Mining, in Italian translatable as extraction. This system involves the use of complex algorithms, charged with decrypting the new cryptocurrencies. However, to do this, the consumption of electricity is significant and expensive.

Furthermore, in recent years, due to the high costs and the increasing difficulty of calculation, Mining is no longer considered as advantageous as it once was. A solution could be to join a group of Miners to divide costs and profits. 

Do cloud mining

A more advanced version of Mining is called Cloud-Mining. Through this system, you use a remote server, very powerful, so you don’t have to have computers turned on day and night in everyone’s home. This significantly reduces the costs of electricity and computing machinery.

However, it is a paid service. To join a group of Cloud-Miners, you need to pay a subscription, and often the game is not worth the candle. 

Bitcoin loans

A trendy sector, it allows virtual lending money to entrepreneurs and small businesses, obviously, without management or other costs. In short, a quick and fast way to access a loan. However, the high volatility of the cryptocurrency has discouraged entrepreneurs from turning to this system en masse.

In the future, with more stable crypto, this business will undoubtedly manage to carve out its space.

Sale of goods in exchange for Bitcoin

A “light” version of the previous one consists of exchanging goods (or services) in exchange for Bitcoin. In recent years, online markets have been born, in the style of eBay, to sell products in exchange for cryptocurrency.

It is not a method to get abundant thanks to Bitcoin. However, it has new advantages for those who perhaps have a lot of stuff to get rid of. Instead of going to the second-hand market near home, exchanging, the demand for Bitcoin could offer exciting surprises.

The most used sites for trade is exclusive software. All modes are undoubtedly exciting and can allow us to earn something with Bitcoin. However, we are very far from the possibility of generating impressive profits. To do this, we need to focus our attention on another investment method: Bitcoin trading. Let’s see in detail what it is.

Earning with Bitcoin: Trading

Trading is the easiest and fastest way to earn with Bitcoin. First of all, we specify that when we talk about “buying ” Bitcoin, we don’t mean the real possession of the currency. If this were the case, our profits would be limited only when the price goes up.

Of course, the so-called “Holders” adopt this strategy. They buy an asset and keep it in the drawer for months or years, assuming a long-term rise. Of course, those who bought BTC when it was worth a few hundredths of a dollar made a significant profit. However, they are isolated cases. To date, the best method is another and consists of speculating on Bitcoin thanks to contracts. 

Have any thoughts on this? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.

Editors’ Recommendations:

Comments

More in Crypto