You can use Bitcoin as a great option to earn some extra money, if you are searching some online ways for this purpose. Many people focus on mining Bitcoins or investing it this digital currency to good money due to its increasing market value. But there can be several other ways to make money with Bitcoins. Some of these ways are briefly discussed here under for your guidance.
Setting up your own Bitcoin website
Starting your own Bitcoin website to provide information about this cryptocurrency is considered as one of the most neglected ways to make money with it. You can start your own website to provide basic information about this digital currency to new investors. It will help you in making money through affiliate offers and ads. It may initially give you small money but with time you can earn good money through your website.
Joining a Bitcoin MLM
There are many Bitcoin MLM’s and whilst we can’t recommend them all there are a few that are worth taking a look at. The problem is that some of these are not necessarily “legit” and some people believe they are built on a house of cards.
USI Tech is one of these big Bitcoin MLM’s and currently many people are earning a lot of money from it (see USI Tech article here). The problem is whether it’s sustainable. There are different views on it and many reviews out there albeit some fake / scam reviews.
If you are able to recruit other people into the program you can earn a lot of money from the purchasing of BTC packages. It’s worth looking into but do your due diligence.
Like starting your own Bitcoin website you can also make money with Bitcoins by developing and running a Bitcoin faucet. It may help you to earn somewhere between $50 and $700 if you could run your Bitcoin faucet successfully. Along with the users of your faucet, the ads on your site will also help you in making good money very soon on the basis of Bitcoins.
Use your writing skills
The increasing use of internet and online marketing has increased opportunities to make money online. Many companies and forums hire freelancers to write blogs and article for marketing their products and services. Many companies can pay you for writing blogs and articles for them in Bitcoins. You can also earn Bitcoins by putting ads on your own blog. You can increase the chances of earning more Bitcoins if you write blogs and articles in more than one language as many companies want to promote their products and services in local languages.
The oldest way to earn Bitcoins is mining them. You can generate Bitcoins by solving complex issues in the algorithms and create blocks to be used in public ledgers that contain history of all Bitcoin transactions. In fact, by creating new public ledgers and allowing then to regulate the functioning of entire system of Bitcoins you can easily mine Bitcoins for you. The miners are rewarded with new Bitcoins when they create new blocks. It can also help in the growth of Bitcoin community by encouraging other to invest in this digital currency actively. Though with increasing complexities in algorithm has made Bitcoin mining a bit difficult still you can make it easier by joining a Bitcoin mining pool or building a mining network by using several computers together.
Selling products and services
You can also make Bitcoins by selling your products and services against this currency as it is one of the most accepted currencies of the world. Many big and small companies accept payments in Bitcoins these days. If you are one of the top rated marketers then you easily make Bitcoins by accepting them against your products and services by marketing them online effectively. You can start accepting payment in Bitcoins if you are already certain products and service online. This entirely digital currency allows the ambitious and courageous people to spread their business all over the world easily and affordably as it provides wide range of business opportunities for them.
Trade alts to earn more Bitcoin
Every heard of trading alt coins to earn more Bitcoin? This is something that smart investors are doing. Since alt coins are traded against Bitcoin, if you pick the right alt coins they will rise faster than Bitcoin.
This means that you can actually make MORE Bitcoin by trading alt coins. Make sense? The problem is knowing which alt coins to choose however websites like https://coinmarketcap.com can help you there as they list all the alt coins and show their percentage gains or losers. A good strategy is to look for the biggest percentage losers which are still the top 20-30 coins by marketcap. Often if a “good” coin has dropped 20-30% it’s probably going to bounce back.
You can also look at reviews of new ICOs (initial coin offerings) on websites like http://thetokeninvestor.com to get into new coins before they hit exchanges. Think of getting in on Facebook in the early days before they boomed, or Apple!
Invest in Bitcoins
Another easy way to make money from Bitcoins is by investing in them as the increasing value of this currency allows you to increase your capital within few months. The online market value of Bitcoins is increasing at rapid rate because its production and supply is strongly regulated with its own algorithms.
Earn interest by lending Bitcoins
Like any other currency you can loan out Bitcoins to a reliable and reputed borrower to earn interest in Bitcoins in return. But it may involve the risk of variable interest rates. The rate of interest will be low if you ask for collateral against the loan. You can earn higher interest without collateral but it can increase the risk of recovery of your loaned Bitcoins.
If you are lucky and familiar with online casinos then gambling can be one more way for you to make additional Bitcoins. Many online casinos make payments in Bitcoins, especially for major jackpots. Though risk if higher in gambling still it provides you a good chance to earn more Bitcoins, if you are lucky enough.