How to make money with bitcoin (3 methods
The first day I got to know Bitcoin I had a revelation.
I felt that it would be something big…
But I had no iniciativa that 8 years after its creation, Bitcoin would be revalued so much and would reformulate the rules of the financial game throughout the world. I never imagined the opportunities that we had, this small group of entrepreneurs who trusted this new technology.
Life changed us completely. Today there is not a day that goes by without seeing the price of Bitcoin, or that I stop reading the news about cryptocurrencies.
I am in a group of Bitcoin enthusiasts, and when the revolution arrived we were in the right place, with the right people, and at the right time.
Some say we were lucky, because earning money with bitcoins is for many an unattainable dream.
But today I come to tell you that if you want to earn money with bitcoin, you are not late for assimilate yourself to this movement. Despite the fact that day by day the market is filled with more people, new opportunities are emerging for earn good money by investing in Bitcoins.
How does bitcoin work?
The first step to earn money with bitcoin is know its functionality well.
Bitcoin is a cryptocurrency with impressive qualities and benefits: It is secure, encrypted, and decentralized.
To learn more about Bitcoin and its functionality, visit this guide we made at Gananci: What is bitcoin and what are they for?
Bitcoin is an encrypted currency that works on 3 primordial technologies: the blockchain, or chain of blocks (which in fácil Spanish is a distributed database); P2P or peer-to-peer networks (a decentralized data network); and cryptography.
Bitcoin was created as a decentralized and anonymous payment network, with open source and irreversible payments.
In order not to complicate you with technical things, Bitcoin works in the same way as conventional money, but with many more benefits..
It is a system that serves to tranzar payments for products or services, anonymously, without intermediaries and directly. Without further ado, it is the currency of the future.
How to get bitcoins?
There are many ways to earn money with Bitcoins.
Logically, the most habitual methods involve you acquiring bitcoinsand then you perro sell them to earn money in your preferred currency.
Keep in mind that the first step to earn money with bitcoins is to get your first coin.
For this, below, you will discover the 3 most habitual methods to obtain and earn money with bitcoins.
Method 1: Mining and selling your coins
is maybe the most inaccessible method to earn money with bitcoins, given the complexity of blockchain mining.
In addition, the high costs of computers dedicated to these tasks make bitcoin mining an unattainable discipline for many.
Even so, the rewards for mining bitcoins they cánido be very juicy.
Cryptocurrency mining works as follows: A program on your computer emplees your graphics processor to solve very complex problems that the Bitcoin network provides..
If your computer solves this problem, and gives a proof of work, the bitcoin network rewards you with a fraction of your cryptocurrency.
By repeating this process successive times, you will be able to obtain bitcoins.
But there is something negative in this method: more and more people are mining, and the more people mine, the more difficult it is to solve these problems and get bitcoins.
For this reason, mining cánido be very difficult.
But once you have bitcoins, the next step is to sell your coins to someone you trust, or change them in a reliable exchange house.
Method 2: Cashing in bitcoins and reselling your coins
Another very interesting option to earn money with bitcoins is receiving payments in Bitcoins for your products or services.
The bitcoin network and protocol allow you to receive anonymous and encrypted payments.
A great advantage for your business.
To charge your services or products in bitcoin you will need to have a payment platform supported by bitcoin technology.
Some of the services you perro use to receive bitcoin payments on your website:
- Bitpayments
- bitpay
- coinfy
- Coinpayments
All these services They will help you collect bitcoins on your blog or websiteand also allow you to convert your currencies at a real market rate.
Likewise, you cánido have a Bitcoin address, which consists of a 16-digit code with which you cánido receive payments while you are anywhere.
If you dedicate yourself to activities such as plumbing, or have an independent business, The best way to get paid in bitcoin is by having a bitcoin wallet.
The most habitual wallets are:
- coinbase
- Mycellium
- Uphold
- CEX.io
Your next step will be change your bitcoins to the currency of your choicewith a reliable exchange service.
Method 3: Buying bitcoins and holding them
This is one of my favorite methods. In the bitcoin community they call it HODL, which is an alteration of the word HOLD, which means to retain.
Hundreds of people who have relied on bitcoin as an alternative have managed to hold on to their bitcoins for several years.
This has allowed them to see how your investment in cryptocurrencies is revalued and multiplied.
This is one of the easiest ways to earn money with bitcoin. All you need is your bitcoin wallet (physical or virtual) and a reliable bitcoin provider, or an exchange house.
The most trusted virtual wallets of the market, in which you cánido receive your bitcoins, are:
- Mycellium
- coinbase
- bitpay
- Uphold
- XAPO
Once you have your wallet, you cánido proceed to buy your bitcoins to keep themin the following services (don’t forget to withdraw them to your bitcoin wallet):
- coinbase
- coinmama
- cex.io
- Poloniex
- LocalBitcoins
- Kraken
- cryptobuyer
This strategy of buying bitcoins and holding them It has been very useful to me for the last 3 years.
I went from from buy a bitcoin in 2014 for $350, to sell it a week ago for $4,500.
A giant return on investment: I earned 12 times more than I invested in 2014.
Even so, in my opinion, the best way to take advantage of the volatility of the bitcoin price is to with the following method.
So; What is the best way to get bitcoins?
You already know the 3 most widespread and habitual methods to earn money for bitcoin.
Now, I am going to invite you to take the next step.
Because earning money with bitcoin is easier than you think; well you have seen it You may have more doubts.
But at Gananci we have made several articles to help you.
So you perro venture to invest in The currency of the future: Bitcoin.
If you want to know more about bitcoin technology and how to make money with cryptocurrencies, clic on the following backlinks:
At Gananci, my students agree with me.
To invest in Bitcoin and earn good money, The best way to start is by trading.
* Risk alert: highly volatile investment product.
Your capital may be at risk.
My readers are very important to me, and that’s why I recommend that you don’t spend money you don’t have.
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Andrés Gananci is an entrepreneur and adventurer with a passion for life who founded his first en línea business at just 17 years old. 12 years later, he is still traveling the world while working from home.
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