Three Best ways to Make Money with Bitcoin

April 3, 2019   Bitcoin

Earning Bitcoin can be easy. Extremely easy to the point of flicking a switch and seeing money come into your account. These methods provide the lowest return and have the most amount of users. When something is easy to do, everyone can join in.

Other methods will be more difficult. They require either greater knowledge or investment (and frequently both). However, they are the best ways to make a much larger amount of money. If you are starting out, with no knowledge at all of the various coins and technologies they run on, then it is best to start with the passive income streams or the easy ones.

Bitcoin Faucets: dripping crypto into your wallet, one drop at a time


Bitcoin Faucets are websites that give away small amounts of Bitcoin to their users. The amounts involved are highly fractional. Getting any usable amount would take far too long if you only ever used this method but it is a good place to start your journey into cryptocurrency. You will need a wallet and learn how to use one.

It will teach you all about how to receive cryptocurrency while actually receiving cryptocurrency. It also gives you an overview of the easiest aspect of the crypto world, and that is wallets. It's basically a bank account and a wallet at the same time and when cryptocurrency becomes a more accepted method of payment, you will have an ace up your sleeve compared to all the people who have never used a wallet before.

Bitcoin Mining: the classic method that made people millionaires


Everyone knows about how Bitcoin miners during the heyday of the bull market were able to pay off their capital costs extremely quickly. Many of the early mega miners became millionaires off of very little effort.

These days, with prices dropping, it is more difficult to do. However, it is still possible to earn a living. It is even possible to passively gain smaller amounts of cryptocurrency if you are just dipping your toes into the market.

You need to know quite a bit about building computers if you want to go mining for alt-coins There are numerous tutorials on Youtube that show you exactly how to build a machine capable of mining coins. You can also decide to use your personal computer and do it part time when you are not at the pc.

It is a very competitive market, and people have started getting out of it recently due to the difficulty increase. This difficulty is because components are getting more expensive and crypto has been on a downward trend until recently. Bitcoin has seen a significant rise in recent times, so you might want to join the next wave early?

Trading Bitcoin: risky, need lots of knowledge but highly profitable


This is definitely the riskiest course of action. You have known a lot about cryptocurrency. You have to know how markets function. You need seed capital to start and quick reflexes and decision making to take advantage of trends.

However, the payoffs are immense and many people earn a very good living by trading day today.

Author: Ali Raza. Article was written for Crypto-Rating.com
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