Ways to make money with Bitcoin
" Bitcoin is the currency of resistance." This is how former reporter and former stockbroker Max Keizer expressed himself. Such words demonstrate several things: If bitcoin is considered as a currency, there is no doubt that you can see it as an undoubted source of income in your life. On the other hand, being the currency of resistance, it is undeniable that Bitcoin has a revolutionary effect on the planet's economy and incalculable potential.
This being the case, it would be negligent and irresponsible not to consider bitcoin as an opportunity to generate income in your life. The renowned American investor and businessman Warren Buffett once mentioned: "If you can't find a way to earn money while you sleep, you will have to work until the last day of your life." These words of Mr. Buffett demonstrate a great truth, and that is that if you invest in bitcoin you can achieve the feat of "being able to make money while you sleep."
"At the end of the day, bitcoin is programmable money." — Andreas Antonopoulos
Currently, there are millions of people in the world who bought and buy BTC to "hold" it and use it as a retirement fund. That said, it is established that if you can make money with bitcoin. The inevitable question that arises is: How to make money with bitcoin? Are there ways to do it?
How to make money with bitcoin
The first way to make money with BTC is by watching videos. Currently, there are companies that reward you with tokens for watching videos on their platforms. One of them is Coinbase, this company allows its users to earn cryptocurrencies while learning about them in a simple and effective way. The idea is for users to understand more about the usefulness of an asset and its technology, while getting a bit of the asset to test it out. At Coinbase, you can earn hundreds of dollars in just minutes of your time just by watching videos.
If you want to benefit from that, what you should do is register on the official page and after registering you go to the part where it says Earn crypto. Coinbase partnered with cryptocurrencies that are in development, such as Orchid, Tezos, Dai, EOS, Stellar Lumens, Zcash, Basic Attention Token, among others. To put educational videos on the platforms and reward for watching these videos.
Another platform that allows you to generate income is LBRY, this platform is considered decentralized YouTube. It is a digital, safe and open marketplace that is managed by the community. Here you can enjoy the latest content from your favorite creators and ad creators, and you will also be rewarded with LBRY credits. Although the platform is a bit slow to watch videos, if you can survive with that, and you have the time to watch the videos there is no doubt that you will benefit.
In the Rewards section, the platform rewards you for doing some tasks. For example, if you invite other people, they give you 15 LBRY. If you want to post, it gives you 3 LBC when you post. It rewards you for several things: for following people, for sharing videos, for basically any activity that you do on the platform. As you start, you will be rewarded and especially if you have the time you can take advantage of this way, since it is completely free.
You can earn money through games. One of those games is a decentralized lottery that runs on the Ethereum network, called Pool together. It is based on a smart contract and here nobody loses. According to the smart contract, all the accumulated money is invested for one, two or three weeks. After those three weeks, the smart contract in a drawn way chooses a winner, who is awarded as a prize the interests accumulated during that time. The initial capital is returned to the participants, making this lottery a lottery where no one loses.
You just have to go to pooltogether.com, buy a ticket to participate in this lottery, and you pay it with the stable cryptocurrency DAI. They put that money in a pool, and the money that accumulates is invested in a company called Compound Finance. In this company, anyone who has cryptocurrencies can invest them and receive interest for them.
So the money that accumulates in that pool is invested here during those two or three weeks. Then the smart contract chooses a person, and they are awarded the interests that were generated in that pool within that lottery. But the other participants get the capital they invested back.
Another way to earn money is with Multi-Level Marketing. This is a monetary strategy used by direct sales companies to encourage existing distributors to recruit new distributors. In the world of bitcoin it is no exception, since many companies offer mining, staking, trading and arbitration services.
The combination of multilevel with bitcoin is the most lucrative business, In fact, it is one of the most lucrative businesses that an average person can do. But it is also one of the riskiest businesses out there.
Trading is another way to earn money. This consists of buying and selling cryptocurrencies, here the idea is to buy low and sell high. There are several types of trading that you can do, the simplest is position trading, another is swing trading and finally day trading.
"Trading is considered a high risk business."
The person who does day trading basically trades during the day, buying low and selling high, being very aware of what is happening in the market on the computer. In the case of swing trading, the idea is to take advantage of changes in the active price in the short term. Position trading consists of taking advantage of upward trends to obtain significant profits.
The Bitcoin Holder is a term that is used a lot in the bitcoin community. These are people who buy bitcoin and do not sell it even if it falls in price. In essence, we can say that it is the opposite of trading, because holders have a long-term business vision and firmly believe that cryptocurrencies are the future.
"The bitcoiners community in the world is growing."
Holders do not mind that BTC is devalued by 80-90%, as they know very well that in the long term they will end up winning.
The bitcoin more and more gives the reason to the Holders, since each time it falls or suffers a correction in its price, it rises to rise even higher, generating important income for its investors. The potential of bitcoin is colossal, there is even a metric that predicts that bitcoin may be worth $100,000 by the next year 2022.
"By today's date, traiders and expert analysts predict that BTC will cost $100,000 by the next year 2022."
As you have already noticed, there are several ways to make money with bitcoin. With this you can start researching and researching more about this cryptocurrency. Never make the mistake of investing in cryptocurrencies without studying for it, much less entrust your money to outsiders who decide for you how to invest your money.