How to Make Money with Bitcoin?

Bitcoin placed on a fabric

It has been a decade since Bitcoin, the first cryptocurrency – or digital money, in lay terms – popped on horizon, adding a new dimension to our virtual existence. Over the years, it has reigned supreme in the world of cryptocurrencies. Millions of people around the world have been investing in it and benefitting from actual, sometime immediate, returns.

Bitcoin – A Brief History

Bitcoin was launched in 2008 and consequently released in 2009, amid the ongoing global recession, by an anonymous creator who goes by the pseudonym Satoshi Nakamoto. At that time, no one had heard of cryptocurrencies or knew how these worked, and thus, the cryptocurrency had quite a rocky run in its first few years.

It began to gain some traction around 2013 but the big surge came in 2017 when Bitcoin crossed the $1,000 benchmark in value. It continued its bullish run, breaching the $20,000 mark by the end of 2017.

This made the world take notice of this new concept of money and financial dealings. It is around this time that a lot of people started making money off Bitcoin and many, many more joined the crypto bandwagon.

How to Make Money with Bitcoin?

So many people have made a fortune by judiciously handling their investments in this cryptocurrency. Here’s how you can too:

Buy Bitcoin

If you are considering Bitcoin as a long-term investment proposition, this is the simplest and best way to go about it. Look for a credible trading platform like Bitcoin Champion, invest some money in buying Bitcoins and then forget about it for a year, or 10. When the prices surge, you can sell these for a huge profit.

Accept Bitcoin Payments

If the nature of your work is such that you deal with international payments, you can start accepting these in Bitcoin and completely skirt the whole ‘processing fee’ and ‘currency exchange’ costs and optimise your earnings.

Mine Bitcoin

If you have the correct knowledge and expertise in the field, you can make money by mining your own Bitcoin. Simply put, it’s a lot like creating your own cash. Bitcoin can be mined individually using a mining rig or over the cloud through cloud mining. The latter is a preferably option for beginners since it does not require any investment in elaborate mining hardware.

Invest in Bitcoin Initiatives

Apart from buying and selling Bitcoin for a profit, you can also investing in Bitcoin-based businesses, companies, startups or stocks or even in Blockchain, which is the building block of Bitcoin.

Final Thoughts

There are several ways to make money from Bitcoin but making an overnight fortune with it is a matter of stroke of luck. As long as you invest wisely and nurse those investments patiently, you’ll certainly see returns.

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