How to make money from bitcoins

Bitcoin It is the most famous and most important cryptocurrency in terms of capitalization. Since its creation in 2008, it has revolutionized the international currency payments system by eliminating the interference of government, central banks and financial intermediaries to create a currency. There are several ways to make money with bitcoins. In this guide we see the different possibilities available to investors.

How to make money from bitcoin

Earn with Bitcoin

You can earn with Bitcoin In different ways. You don’t have to be an investor: tech enthusiasts are actually able to get bits of Bitcoin to hold while they wait for their value to grow.

The method used is that Mininga process that involves using a highly compute computer to create a new unit of cryptocurrency.

The profit that can be obtained from mining on your computer is very low due to the initial investment cost of hardware and software and high consumption of electricity, which makes the profit margin almost zero.

The Mining Bitcoin can also be done in other ways:

  1. Mining through a BTC poolthat is, companies that use a central server to coordinate mining operations between many people, which increases the computational power necessary for the activity;
  2. cloud miningIt is a technology that provides the power of remote servers to be able to mine cryptocurrencies without having to install all the necessary hardware and equipment.

Buy bitcoin for investment use

to buy Bitcoin For investment use, it is necessary to select a good trading platform (here are the best ones), and to verify that the exchange uses a Know Your Customer (KYC) procedure, one of the best and most secure is Coinbase.

After creating an account and depositing the necessary funds into the account, you need to create a wallet to deposit your cryptocurrencies.

At this point, it is possible to start exchanging funds to accumulate Bitcoin. It can be kept on the stock exchange or better yet transported and stored in your wallet.

Accept Bitcoin as payment

One of the simplest ways to get bitcoins without investing is Accept it as a method of payment To sell a service or good. report from Ark Invest ManagementThe investment firm, led by Cathy Wood, highlighted that in early 2022, annual settlement volumes on the Bitcoin network exceeded those of Visa.

In fact, many merchants accept payments in bitcoin or other cryptocurrencies to organize the sale of things and services from clothes to expensive goods such as houses, cars and boats.

In Italy there are many activities that allow users to pay with Bitcoin: from video game sites to online casinos to IT stores and online e-shops. Bitcoins are also accepted on many of the platforms they partner with Reservation And Expedia Like CheapAir and Travela. Some e-commerce platforms also allow customers to pay with cryptocurrencies. To determine the areas covered by the service, there are applications such as Coinmap and QuiBitcoin.

Bitcoin trading

An alternative way to earn money by doing Bitcoin trading Through derivative instruments such as i CFD (Contracts for Difference) that allow you to speculate on the rise or fall of prices, or through them Bitcoin ETFs.

In this case, you are not buying and selling Bitcoin but you are participating in the cryptocurrency market indirectly. To trade on these instruments, it is necessary to open a trading account with a CFD broker or another financial intermediary that allows the buying and selling of derivative instruments, and to verify that they are regulated in the country of origin and licensed by Consob.

From the end of 2021, it is possible to buy a Bitcoin ETF, and Bitcoin ETF StrategyLtd., provided by ProShares, traded on the NYSE (New York Stock Exchange), under the name BITO. This tool is not directly related to Bitcoin but to its multi-year futures contracts traded on the Chicago Mercantile Exchange (CME), a regulated and safe market for investors.

Other ways to make money with Bitcoin

Mining, payments, and trading are not the only ways to make money with Bitcoin. They also exist other ways It allows you to get small profits, without having the pretense of becoming a millionaire. Here they are below:

  • FaucetBitcoin Faucets: These are websites that offer bitcoins by simply answering online surveys or by visiting websites and advertisements.

    However, this method of earning bitcoins has drawbacks: the sites and ads to be displayed are not always carefully monitored and can hide malware capable of infecting computers.
  • MMOCG games (Cryptocoin multiplayer online game) which rewards the best players of blockchain-based video games with a custom token that can then be converted into Bitcoin.
  • Bitcoin Cashback Purchase goods and services from sites, such as StormX, that offer crypto-refund programs when minimum spending is reached.
  • a program It allows users to earn Bitcoins who perform certain actions (such as walking, cycling, or visiting physical stores). Among these we find Sweatcoin that turns the steps taken into a custom token, Worldopo, an augmented reality game where you can build virtual factories to generate resources and cryptocurrency, StormX, an online store where you can buy various products with cashback in cryptocurrency.

Why make money with Bitcoin

Bitcoin is a completely legal way to earn although it is not backed by a physical asset like other asset classes, such as gold coins or fiat currencies.

Among the advantages of Bitcoin we can guarantee:

  • The speed of sending and receiving money wherever there is an Internet connection
  • Extremely Low Transaction Fees: Users can decide to increase the transaction speed by paying a fee.
  • Security and control of transactions without supervision of central authorities: Users can check their transactions.
  • Transparency and impartiality: All information about Bitcoin movements is available on the blockchain and can be verified by anyone.

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