How to Make Money with Bitcoin

Bitcoins are a form of online money. I like to call them the fast track way to going penniless. The first thing to understand about bitcoins is that they are an open-source form of making money. In fact, there is no central authority or banks which mean the entire source is carried out throughout the network collectively. Many don’t even realize bitcoins exist. But they do.

Make it rain

The first step on making money on Bitcoin is creating a faucet that will act as your ability to make it rain money. Bitcoin faucets are websites that give out bitcoins for time spent on particular websites. How to make money using this? You will mainly be relying on advertising to help monopolize the money making capabilities here. You can even lend bitcoins for profits. Between these two profit ways, your bank account could be raining money. Maybe not in the triple digits area but certainly it will be impressive.

An odd way to make money

Another way to make money using this open source is by selling your bitcoins on Localbitcoins. The ability with this is that your bitcoins can turn into actual cash that can be transferred to NetSpend, visa, PayPal, and other types of credit, or cash holding places. Cloud mining and hashing is another way where you basically develop your own mine.

Become a hoarder

You can hoard bitcoins like you can with paper, collectables, and video games. Bitcoins can be held onto, and gain interest. This means the longer you hold onto them could be the more money you make. However, Bitcoins can be complicated, and are risky compared to other ways to make money online. Due to bitcoin being an open source form of making money it means you need to invest in the business before you get any return value. I like to call it the basic give and receive game. If you give money to get bitcoins, then you can get money back which could be more than you put in. This is where you realize you are making a profit.

Bitcoin is profitable

Even today bitcoin is still profitable. It may have been really popular back in 2013, but slowly this open source is coming back to popularity. The risk may be great, but the reward may be even better with this system. My best advice is to choose a method that you are comfortable with and to exploit it to the best of your ability. You make money only by your own choices, methods, and decisions here. However, the options here are still great.

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Oliver

A student, amateur photographer, and aspiring automotive journalist. Anything with an engine and wheels has piqued my interest for the longest time. It only makes sense that I share my passion with everyone else. Hope you enjoy my adventures in the automotive world and otherwise.

1 thought on “How to Make Money with Bitcoin”

  1. I have gotten bitcoin when it was 10$ too bad I didn’t keep all of it but still I have an amount which has increased substantially since. Will see where it takes me.

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