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15 Practical Ways to Make Money With Bitcoin in 2022

by John 4 months ago in bitcoin
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15 Practical Ways to Make Money With Bitcoin in 2022
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Over the last couple of years, Bitcoin (BTC) has gained prominence as the leading form of all decentralized currencies. Its creator might remain anonymous up 'til the present time, a lot of opportunities still abound for everyone to make enough cash with Bitcoin today.

There are numerous options to look into, and deciding the best route might be tasking. To make things a bit easier for you, I’ve compiled a list of tips on how you can make money with Bitcoin, even as a newbie.

Let’s get started!

Learn About How To Get Rich With Bitcoin

(1) You can Buy and Hold Bitcoin

If you’re thinking about how to make cool cash with Bitcoin without expending much energy, one of the best options to consider is the buy and hold strategy. Buying and holding Bitcoin is one of the most beginner-friendly and straightforward ways to earn money with crypto.

Here’s how it works:

I. Create a Blockchain, Binance, Paxful or Coinbase account—you’ll get a free Bitcoin wallet upon signing up!

II. Buy from any of the available payment options, you can buy with a bank transfer.

III. Hold on to your Bitcoin, wait for spikes in price—not minding how long it might take.

The beauty of buying and holding BTC is that you can wait weeks, months, or years before you decide to sell. This technique has become well-known; there’s even an internet name assigned to it—HODL. What actually started as a typo on a forum later became an acronym for Hold On for Dear Life. So remember to hold on to the BTC for dear life, if you consider this option.

A systematic approach to HODLing, Dollar Cost Averaging, also called constant dollar plan (DCA).DCA is a process whereby instead of handing out a lump sum in one go, you invest the total sum of your funds in small increments throughout a specific period. This is very useful for investors who want to back particular assets for the long term.

(2) Join Affiliate Marketing Programs

You can make money with Bitcoin through affiliate marketing programs. Some companies use this marketing strategy to bring in new customers. It works by motivating existing users to bring their family and friends to the business. Though, these affiliate programs differ from one another, you’ll see them all over the market. Carefully study and choose which of the affiliate programs you want to invest your time in.

Learn About How To Get Rich With Bitcoin

(3) Earn BTC Cashback On Your Credit Card Purchases

Some payment giants around the globe have also created means for their credit card users to earn Bitcoin cashback. Interestingly, this has really paved way for many crypto users to enjoy and unlock new financial opportunities with their Bitcoin on their credit cards purchases.

A good example of the payment giant is BlockFi. BlockFi rewards Visa® Signature Credit Card users with cryptocurrency in lieu of the usual points or miles. Cardholders can also get 1.5% - 3.5% cashback, which will be automatically converted to BTC and kept in a BlockFi account monthly. Aside giving you a different financial experience, it also has no foreign transaction charges.

(4) Accept Bitcoin Payments For Your Products or Services

As BTC continues to gain more prominence, we’re beginning to see more and more businesses accepting BTC payments for their products and services. So, why not consider accepting BTC payments if you’re running a business and want to make more money with Bitcoin?

Integrating BTC into your payment system will broaden your reach and also make transactions easily accessible to customers who may not have credit cards or bank accounts. The best part is that it’s very easy to start accepting BTC payments.

You can start by just putting up a small sign at your storefront or cash register if you’re running a physical establishment.

You can also place a banner at your home page or use fully integrate a payment intermediary like Paxful Pay it into your website. Customers can just send money directly to your Bitcoin wallet.

(5) Take Advantage of Reward Systems By Watching Ads and Answering Surveys

Do you like answering surveys and watching ads? You can earn a decent amount of money by just answering surveys and watching ads, thanks to Bitcoin faucets. These reward systems give little amounts of BTC to those who are able to complete minor tasks—like answering surveys, watching ads or playing minigames!

(6) Look for Pay-to-click websites

Pay-to-click websites (PTC) pay you a small fee to complete straightforward tasks like completing someone’s survey or watching a YouTube video. Examples of these PTC sites include; Microworkers, BitcoinGet, Coinpayu, adBTC, and CoinTasker, where members can complete thousands of tasks to earn Bitcoin.

However, you should keep in mind that making a huge money this way is a tedious and challenging task. These sites are an awesome way for you to earn a quick buck if you’re willing to put in the work.

(7) Lend Fractions of Bitcoin

The decentralized nature of cryptocurrencies like Bitcoin makes it easy to make transactions. No validation is required from any authority.

This decentralization can make you earn some cash through interest by loaning BTC. You should consider this as a way to make your cash flow even when you’re actually using your wealth instead of keeping it untouched in your wallet.

Some websites that can help you with your lending services include; Unchained Capital, BTCpop, and Bitbond.

Learn About How To Get Rich With Bitcoin

(8) Play Cryptocurrency and Blockchain Games

Yes, you can have fun and earn money at the same time! Bitcoin play-to-earn games like Sparkprofit and Bitcoin Alien Run give out Satoshis. Non-fungible token (NFT) games have come into prominence recently.

Some of the very popular blockchain games you can try are; My Defi Pet, Axie Infinity, and CryptoBlades, among others. Bitcoin games are probably more fun when compared with completing a survey.

(9) Write about the Crypto World and Bitcoin

Only a handful of writers can really give good contents on cryptocurrency, probably because it’s a new niche. The crypto market is flooded with newbie copywriters who repeatedly rehash content.

If you want to understand how to make money with cryptocurrency or have previous experience in crypto writing, why not try educating the more people through writings? Bitcoin Magazine and Cryptocurrency News are some websites that can pay you to write about Bitcoin.

(10) Trade Bitcoin

If you see HODLing of BTC as a long-term investment, BTC trading is its fast-paced equivalent. BTC trading is actually taking advantage of the highly volatile nature of the market. This method requires knowledge of the market, and constant practice. So ensure you do your homework before giving it a shot.

Here are a few trading techniques you can try out to make money with Bitcoin:

Day trading – This technique entails short and fast trades, allowing opportunities for small and quick profits. This method carefully and strategically analyzes the market, observes small money-making opportunities, and takes advantage of a small profit. Because of this, Day traders don’t hold open positions overnight. At the end of the session, they could have a significant profit.

Swing trading – If day trading is short-term, and HODLing is long-term, swing trading is kind of in the middle. Just like HODLers, swing traders will buy at a low price, wait for a long duration to see their holdings increase significantly in price, and then sell high value. However, their holding time isn’t as short as a day trader or as long as a HODLer .

Arbitrage – Bitcoin arbitrage can be compared with the styles above. However, traders who use arbitrage look for money-making opportunities across different platforms, instead of looking for those opportunities within the same exchange. Essentially, they buy Bitcoin from exchange A then sell it to exchange B at a higher price.

These techniques require a lot of practice, so you shouldn’t expect to get it right at the first time.

Learn About How To Get Rich With Bitcoin

(11) Take Jobs That Pay In Bitcoin

Getting paid in your preferred local currency is great, but getting Bitcoin payouts can take your freelance gig to a new level, as a freelancer. Many websites today allow you to complete tasks or jobs in exchange for Bitcoin and other digital coins.

If you’re thinking about where to get started, you can check out websites like Cryptogring, laborX.com, CoinTelegraph Jobs, and Crypto Jobs. Some of these platforms make every transaction more efficient and secure by using smart contracts.

(12) Mine Bitcoin

Bitcoin mining, though somehow difficult nowadays, was one of the first ways to obtain BTC. Then, miners used powerful computers to provide solutions to complex mathematical problems. They’re rewarded with newly-minted BTC when they’re able to crack the code.

Some of the earliest miners could make cool cash by mining Bitcoin using just their home computers. It’s a very different scenario nowadays.

To mine in today’s Bitcoin scene, you’ll need top-tier powerful equipment, which can actually set you back a few thousand bucks. Also, you’ll have a lot of competition since Bitcoin mining has become quite popular now.

You can join Bitcoin mining clouds or mining pools to give yourself a competitive chance. A Bitcoin mining cloud is a collaborative group of miners who combine their computing power using the cloud to solve complex mathematical problems faster. A Bitcoin mining pool is similar, but they don’t use the cloud to connect their computing power. That way, they will have to install and run the related software or hardware directly.

The miners’ fees is paid from transactions in either case. The newly-minted coin is split among the group members. Watch this video to learn how Bitcoin mining works.

As the competition gets tougher, you’ll need better equipment and you have to run your operation with the greatest efficiency to generate good returns. Do plenty of research before going into mining because there are easier ways to earn money with Bitcoin.

(13) Run a Lightning Node

Do you know that you can complete BTC transactions within seconds? This is made possible by the Lightning Network, which eases lightning-fast Bitcoin transfers. It’s interesting to note that you can also make more income by running a Lightning Node. This will enable users to set up payment channels powered by the Lightning Network.

When you run a Lightning Node, you’ll operate a channel and subsequently get rewards through the transaction charges. However, it’s important to note that the amount of cash you’ll make might not be as much compared to other ways in this list.

On the flip side, the small amount of money you’ll get will significantly contribute to the scalability of the lightning network.

(14) Become a Masternode

A masternode is an assigned role that keeps track of the blockchain in real-time. They’re always up and running, just like Bitcoin’s full nodes.

The master nodes perform different tasks with the blockchain, including governing voting events, smooth protocol operations, and more, in addition to saving, validating, and announcing valid transactions to other nodes. They are heavily incentivized for their dedicated services.

(15) Join the Bitcointalk Forum

One of the oldest forums out there is Bitcointalk. It’s probably the most popular forum in the crypto sphere, as millions of people use it. In fact, it was set up by Satoshi Nakamoto himself.

As an avid follower of the forum that wants to make money with Bitcoin, you can post on the Bitcointalk forum. Note that you’ll need to have racked up some authority from frequent posting and then your posts will have a sponsored signature. In due course, you can get paid for every post you make on the forum.

The practical ways to make money with Bitcoin are ever-evolving

Now that several methods on how to make money with Bitcoin have been revealed, why not try it out? Who knows, your efforts could yield some magnificent gains.

As the crypto economy grows over time, people will keep finding new approaches to earn cash with BTC, we will see constant development. Even beyond this list, there is an endless method of earning BTC. Ensure you do your research, work on what works best for you. The sky’s the starting point on how to make money with BTC—you just have to be creative. Good luck!

Learn About How To Get Rich With Bitcoin

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John

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