More than any other cryptocurrency, Bitcoin is regarded as the most traded, profitable and reliable. So, it makes sense that you want to know how to make money from Bitcoin.
On a daily basis, bitcoin continues to dominate the headlines and that’s how it has been for a few years now.
In this blog post, we’ll be revealing how you can make money from bitcoin in 2020 and even afterwards.
The option you go for will be reliant on your technical knowledge, how much risk you can take, your investment experience and how long you can wait before making money.
1. Bitcoin Mining
Mining, as a cryptocurrency lingo, simply means the creation of a new coin and a verification of a bitcoin transaction. This is done using high-powered computers which is expected to solve complex mathematical problems. These high-powered computers are often referred to as rigs.
You make money mining Bitcoin, because each time you add a new block of transactions, you are rewarded. This reward is in Bitcoin, but depending on the current exchange rate. Can be very substantial.
You will have to invest heavily into specialized equipment and electricity to keep your mining rig running at all times.
Aside from investing into mining rigs, you can also join mining pools where you can combine resources with other bitcoin miners.
2. Bitcoin Lending
This is a high-risk investment, but it also comes with a high return on investment when done correctly.
There are numerous lending platforms you can join in order to become a bitcoin lender. For example: Unchained Capital, BTCpop, or Bitbond.
When making money via Bitcoin lending, you will be lending your Bitcoins to other individuals with the expectation of a return based on interest that’s paid.
The interest rate could be as high as 15% depending on the time frame involved. The risk is built on the inability of the borrower to pay back the loan as agreed within the stipulated time.
3. Bitcoin Trading
This is another high risk venture, but since you want to know how to make money from Bitcoin, it has to be mentioned.
As a Bitcoin trader, you buy the crypto when it’s at it’s lowest price and sell when the price is higher.
You should only venture into Bitcoin trading if you are capable of making quick and decisive trading decisions.
With an experience and knowledge of the market, you can make a high return as a trader. However, the risk of losing your Bitcoin in a short period is quite high.
Much of Bitcoin and crypto trading in general. Is done with the assistance of a bot or computer assistance.
4. Become a Bitcoin Writer
Despite the popularity of Bitcoin in recent years, not much is available as resources on the internet to learn more about Bitcoin.
If Bitcoin and cryptocurrency is what you are savvy about, then you should consider making money as a bitcoin writer.
The demand for writers in this niche is quite high at the moment. Aside from that, you can also write eBooks or become a Bitcoin blogger.
You’ll be surprised with the in flow of traffic to your blog if you know your way around as a writer.
We have additional information on how to make money as a blogger in the link.
5. Become a Bitcoin Affiliate
Affiliate marketing is quite overlooked when it comes to how to make money from Bitcoin.
Bitcoin affiliate marketing programs are just like any other affiliate program. Promoting various Bitcoin affiliate programs is an excellent way to make money from Bitcoin.
There are many Bitcoin exchanges that have affiliate programs that you can join to earn a commission.
You just have to employ different means to promote your affiliate link on your website, instant messaging apps and social media.
We have a few additional articles on how to generate traffic to your website, but if you want additional assistance. Consider downloading our free online business blueprint or joining our free online community.