So you probably now know what is bitcoin and on how you can use it in buying and selling but of course you want to also know how you can make money with it, keep on reading as I will highlight some key ways on how to easily acquire wealth with bitcoin.
Below are some of the best ways to make money with bitcoin.
1. Buying and Selling
This is one of the popular ways you can make money with bitcoin, once you know how to use bitcoin, this should be very easy for you.
Buying and selling basically mean you buying bitcoin at a low price and selling it at a high price, very similar to trading bitcoin which we also explain below, feel free to ask questions in the comment section below.
2. HODLing Bitcoin
YES! you heard it right, hold bitcoin!, bitcoin has been appreciating and becoming widely adopted ever since it was created by Satoshi Nakamoto, bitcoin price has never been the same in years, it keeps on progressing each year, so holding bitcoin is one of the best ways to make money with bitcoin, you just have to store it in a secure wallet and have your backup keys and phrase or possibly best use a hardware wallet like Trezor or the ledger nano.
3. Accept Bitcoin As A Mode Of Payment.
Bitcoin is evergreen and will in no doubt be the future of money, you can start accepting bitcoin as a mode of payment on your stores and also for donations on your crowdfunding sites, many popular sites have also keyed into the profitable aspect of accepting bitcoin as a payment method on their sites.
You might not know this, but many people actually love paying for goods and services with bitcoin and therefore this can generate more sales for you and extremely good profits in return.
4. Participate in Affiliate programs
There are many sites that you can refer people to and earn bitcoins for referring people to the sites, either for buying or selling bitcoin on the sites or to other services like hardware wallet purchases and others, some of the sites we can recommend are,
You can visit the sites above and check on their affiliate pages on how to get started.
5. Day trade Bitcoins with Altcoins
This is very similar to buying bitcoin low and selling high as I wrote on the first headline, but on this aspect, you need to know how to read charts and some technical analysis which could be quite difficult for some people.
Trading cryptocurrencies can be done or is mostly done on exchanges like Binance, Poloniex, Bittrex e.t.c, but for now, we recommend Binance and Bittrex, you can visit the exchanges and try to play around with it.