How To Make Money With Bitcoin in 2021?
How to make money with bitcoin in 2021?
In this article, I will show how you make money in bitcoin in 2021? Bitcoin just turned 12 years old in 2021. As bitcoin grows over time so do its money-making opportunities. Here I am gonna show you a few easy ways to make money with bitcoin. Take a look and find out from which way you can make money.
1. Mining
Whenever do you ask someone How To Make Money With Bitcoin in 2021 or beyond? The answer mining will come to mind every time. Besides mining was the first way to ever get a BIC. You might now ask, Well what is mining? Mining is a process where people use powerful computers to solve critical and complex mathematical problems. When they solve the problem they get rewarded with a portion of BTC. Why a portion? Well, this depends on the price of BTC. The first miner got 50 BTC as a reward for producing the first block by mining.
In earlier days of BTC mining was very easy. You could earn or mine thousands of BTC very easily with a home computer. However, it is completely different. If you now want to enter the mining business you need top-class gear which will cost you few thousand bucks. Right now Bitcoin is the number one Crypto coin and one bitcoin price is over 40,000 dollars so it’s important to remember that you will have competition.
To increase your chance of mining you can join the mining community. What is this mining community? They are a group of miners who combine their computing power to solve complex math way faster. This community is commonly known as a Bitcoin mining pool. There is another community like that called Bitcoin mining cloud. The only difference is they use the cloud to compute their mining power. The benefit of this is that nobody has to install or run the hardware-related software directly.
As bitcoin price gets higher and higher the mining competition gets fiercer. More money you spend on equipment more profit you will make. In recent days Bitcoin mining isn’t profitable like early days. Do a lot of research if you want to go there.
2. Buy and hold strategy
This is maybe the age-old question of bitcoin. How to invest in bitcoin and make money? Well, to be honest, you can definitely make a lot of money and even make your investment 10 times return. However, this will take a lot of research and a proper understanding of the crypto market. And as easy as it sounds trust me it’s not. Honestly, I can not give you this knowledge in this article.
If you are really looking to invest in bitcoin then take a look at our when is the best time to buy Bitcoin article. It will help you understand when to buy bitcoin and when to sell it. If you have no idea how to buy bitcoin then you can also look at our article for that. We made it super easy so that anyone can understand. Please remember buying and holding strategy can take a long time and a considerable amount of investment.
3. Trading
Buying and holding is long time strategy. If you want to make quick money you can actually do crypto trading. What is crypto trading? To explain in simple terms crypto traders take the advantage of bitcoin’s highly volatile nature. However, this method requires an in-depth knowledge of the crypto market. Otherwise, you will lose money instead of earning. Here are few trading methods.
Day trading: As the topic name explains day trading is when you don’t hold any BTC buy it at the start of the day and sell it at the end. Day trader’s method consists of carefully analyzing the market and looking for small opportunities. They don’t make much profit at the end of the day but at the end of the month, the profit looks more recognizable. One major benefit of day trading is you need not pay the overnight funding charges.
Swing trading: If day trading is a very small-term and buy and hold strategy for a long time then Swing trading is around the middle. You buy bitcoin at a low price and wait for the price to go up and make a profit. In this strategy, you may have to wait days, weeks, or months. In my opinion, this is the best strategy better than day trading.
3. Earn Bitcoin through affiliate marketing
Nowadays a lot of company uses affiliate marketing to bring in a new customer. As the crypto market grows this section will grow farther. So if you have a good understanding of social media platforms then you can become an affiliate marketer. You can promote a company’s goods and services, bring in new customers and earn a profit through commission.
How much you can earn? That depends on entirely how many visitors you can bring. However, you need to ensure that you signed up for a credible affiliate program. There are a lot of scams out there and you don’t want to be one of their victims. This job is a lot easier if you have a reliable social media presence.
4. Earn BTC by micro job or watching ADS.
There are many websites that will pay you BTC if you watch their ADS or click on links containing ads. This job is very easy however very boring and time lengthy. However, if you are immune to that then these sites are a really good way to make a quick buck. If you are into watching ads then you can look at Coinpayu and adBTC. Both sites are very good for earning quick BTC. They are very popular and millions of users earn from them daily.
Now if you are more into completing a small task or micro job then you can look at Microworkers. They will give you small tasks like a watch a youtube video or complete a survey to earn BTC. Normally their rate is a bit higher than the website where you have to watch ADS. Also, these sites have thousands of jobs so you will not have any problem finding the one that suits you.
Hopefully, I showed some way on How To Make Money With Bitcoin in 2021? To be honest, It’s not easy to make money with bitcoin without investing. However, as I mentioned there is few way. But you need to be a very hard worker and if you invest money then you need to in-depth knowledge of this market.
