As of November 2022, the global cryptocurrency market cap is $816 billion. Bitcoin is just one of many forms of cryptocurrency available today. Bitcoin BTC is a digital currency that can be used as a form of payment in everyday transactions or as a form of investment.
Bitcoin BTC and other cryptocurrencies are changing the way we do business and manage our money. They are shaping the future of an increasingly digital economy. You may be wondering how to make money from Bitcoin, well you’re not the only one.
When you use Bitcoin, you have the potential to turn a small amount of money into a large sum very quickly. If you’re new to Bitcoin BTC or digital currency in general, it can be confusing trying to figure out how to make money from Bitcoin.
With this comprehensive guide, you’ll learn 5 popular methods you can use to make money from Bitcoin BTC. Interested? Then keep reading below for more information about Bitcoin.
1. Trade Your Bitcoin
Because the Bitcoin market fluctuates daily and sometimes even hourly, you need to be able to use this to your advantage for how to make money from Bitcoin. Just like the stock market, you need to be prepared for any potential dips or rises in your Bitcoin value. Skilled stock market players are able to speculate how they think the market will change and create a strategy to follow current trends.
You must be able to do the same with Bitcoin. Trading Bitcoin may not be for everyone, but if you have a knack for stock speculation, it could prove to be quite lucrative. Of course, you also need to understand the risk involved as a high-valued Bitcoin can also plummet in value very swiftly.
There are three types of trading associated with Bitcoin. These are Day Trading, Swing Trading, and Arbitrage. We’ll take a look at each of these methods more in-depth here.
Day trading is a popular form of trading used for Bitcoin. It involves short-term trading or intraday trading for how to make money from Bitcoin. Where most people hold onto their Bitcoin as a long-term investment, day trading focuses on the short-term aspect.
A day trader enters and exits the digital currency market within the same day. They watch the fluctuations of the market and sell as soon as their Bitcoin reaches a high point. Instead of one big payday from a long-term Bitcoin investment, this allows for smaller but still profitable gains.
In February of 2022, there was a reported $93.4 billion recorded for the 24-hour trading volume of digital currency like Bitcoin. In 2021, this amount was around $130 billion, showing that crypto trading can only go up from here.
The method of swing trading involves a slightly different strategy. Where day trading relies on a short-term strategy only, swing trading focuses on a short to medium timeframe. It involves holding onto crypto for a few days to a few weeks at a time.
Because the crypto market moves in waves, the prices of Bitcoin and other digital currency forms will rise and fall in a given period. Over time, these trends become more apparent. These waves are also referred to as “swings” due to their up-and-down nature.
Swing traders learn to take advantage of these swings in digital currency price fluctuations. By studying these swings and their patterns, a swing trader can pinpoint Bitcoin trends and maximize the potential for profits when the market is on an upswing.
Arbitrage in digital currency trading relies on a two-pronged strategy. Cryptocurrency investors buy Bitcoin on one exchange. They then turn it around and sell it on another digital currency exchange, often for a higher price depending on the current market rates.
There are currently hundreds of different cryptocurrency exchanges with more and more coming into existence each day. The buying and selling price for a crypto token can differ greatly from one exchange to another. It’s a bit like crypto flipping in that it can influence how to make money from Bitcoin.
2. Holding Bitcoin (HODL)
What originally started as a typo, the HODL method has become a widely used strategy by many for how to make money from Bitcoin. HODL, which was supposed to read as “hold”, is now an acronym for “hold on for dear life.” This instills the belief in Bitcoin and other digital currency investors not to sell their assets even if prices fall.
HODL or “hodling”, creates more of a safety net for Bitcoin investors. It helps them avoid the pitfalls that can come with the short-term market volatility involved in digital currency. This way they can also avoid the risk that occurs when they buy Bitcoin for a high price but are forced to sell it for a lower price.
The “Hodling” strategy instead chooses to focus on the buy-and-hold aspect of Bitcoin. This is a prolonged approach that emphasizes the long-term value and appreciation of digital currency.
This is seen as a greater potential for profit because investors buy Bitcoin at low prices and wait to sell at higher overall prices. An estimated 67% of Millennials view Bitcoin as a “safe haven” asset preferred over even traditional investment assets like gold.
Despite higher rates of return on the initial investment, “hodling” digital currency can still have risks associated with it. Investors can expect to experience tremendous fluctuations like crushing lows and intense highs of their cryptocurrency assets. This may require you to have substantial Bitcoin assets set aside.
In some countries, the attitude toward digital currency may not be as favorable since it is often used to commit fraud or illegal activities. This could influence where and how individuals can use Bitcoin. Policymakers may also try to create legal precedents that change the way investors trade as well as the total worth of cryptocurrencies like Bitcoin.
3. Utilize Credit Cards with Bitcoin Rewards
Bitcoin is becoming more and more mainstream. The popularity and use of Bitcoin even have credit card companies jumping on the bandwagon. You can now find a variety of credit cards with crypto benefits.
These crypto credit cards work just like regular rewards credit cards. But instead of offering the usual cash-back rewards, these rewards are given out in the form of Bitcoin BTC and other digital currency forms. The level of rewards can vary based on the terms and conditions of the specific credit card.
Most crypto rewards credit cards offer a standard 1% in Bitcoin rewards for basic purchases. There are also special reward categories with higher percentages of reward levels. For example, for grocery-related purchases, these cards will offer a 2% back in digital currency rewards while dining out will earn a 3% bonus in crypto rewards.
Other crypto-based rewards credit cards may offer crypto rewards of up to 10% back for specialty purchases such as when you pay for services at EV charging stations. Store-specific crypto rewards credit cards also have a higher payout rate for rewards given or for particular items purchased. You may also receive special introductory sign-up or end-of-year bonuses.
These credit cards can be a terrific option for how to make money from Bitcoin since you’re getting rewarded for purchases you’re already making in your everyday life. You get the bonus of Bitcoin built in which you can leverage into further investing and moneymaking strategies.
Around 5% of adults in America, 13 million people in the U.S., already have access to a credit card that gives them the option to access cashback rewards in the form of cryptocurrency. Another 13% expressed interest in having this as an option.
4. Accept Bitcoin for Payments and Tips
Modern business models are adapting to keep up with changes in technology. This includes offering Bitcoin as a payment method. If you are a small or medium-sized business owner, you can also add Bitcoin digital currency as a form of payment to meet the demands of your customers.
You can enable payments via Bitcoin and other digital currency types through an online store’s website cart checkout. You can also download an app like Square which lets you accept Bitcoin payments on your smartphone devices. This is especially helpful if you have a mobile business that travels to multiple destinations like craft shows and farmers’ markets.
The option to pay with Bitcoin will appear on the screen with all of the other forms of payment. The customer can then select this option and complete the checkout process as usual. The Bitcoin will transfer to your digital wallet.
Bitcoin can also be given as a tip in many modern businesses. You must ensure that you have the proper app which can accept, store, and facilitate the transfer of Bitcoin from one user account to another. Once you do have it established, you can receive tips in lieu of cash or credit cards.
Accepting Bitcoin for payments and tips is an ideal way how to make money from Bitcoin. You can keep these payments in your digital wallet and watch them increase in value. When you’re ready, you can cash out, exchange it, or transfer it to another account with ease.
5. Use Play-to-Earn Game Sites
Play-to-earn game sites are unique because they don’t require you to buy Bitcoin and other digital currency outright. These sites will award you Bitcoin for completing tasks and playing games.
You can sign up on the designated site and create a profile. Then, you simply play the games offered on the site through your mobile device or desktop computer. Each time you play a game for a certain amount of time or pass an in-game milestone, you’ll receive points or coins.
Once you’ve achieved a certain amount of points or coins, you can redeem them for rewards like Bitcoin BTC. You can then transfer your Bitcoin to your digital Bitcoin wallet. It’s one of the best ways how to make money from Bitcoin because you don’t pay anything out of your own pocket.
But it isn’t just games that will earn you valuable rewards like digital currency. Sites like Cointiply give you other options for earning Bitcoin as well. From surveys to bonuses, here are some of the many other great ways you can increase your Bitcoin earnings from Cointiply.
Online surveys get your opinion on important topics and help shape the way businesses and brands operate. You can receive from $1 to $5 for each survey you complete. You’ll even receive credits if you are disqualified from a survey so it’s a win-win scenario.
Complete Daily Tasks
Each day you’ll be offered certain tasks like completing offers on sponsored sites. When you complete each of these offers, you’ll also be awarded points. You may even receive Bitcoin directly for checking off each task.
Cointiply offers a service where you can watch short video ads per day. You just watch these videos to earn coins, it’s as simple as that. It’s a quick and easy way to earn more Bitcoin rewards.
You can also sign up for special offers on sponsor sites. These are great offers that can save you money on products, subscriptions, and services you were going to buy anyway. The best part of all, you get rewarded for completing these offers with points or coins.
Cointiply believes in sharing the wealth by offering referral bonuses for each person you bring that signs up with your referral code. You’ll earn a sweet 25% of all your referrals’ faucet claims. On top of that, you’ll also receive 10% of their offer earnings.
It also pays to stay active every day. Each day you log in, you’ll increase your loyalty bonus. Stay logged in every day to reach a 100% loyalty bonus.
Discover How to Make Money from Bitcoin with Cointiply Today
Bitcoin and other digital currency forms are on the cutting edge of a modern digital economy. If you want to keep up with current trends, you should think about expanding into cryptocurrency.
Cointiply is a no-risk method for earning Bitcoin rewards through games, surveys, offers, and more. Cointiply is the best-kept secret for how to make money from Bitcoin, until now. But with our generous referral program, you won’t want to keep it to yourself when it means you can earn even more Bitcoin rewards in the process.
Sign up and start earning Bitcoin digital currency rewards with Cointiply today!