Now that you are a proud owner of Bitcoins, how can you make more money through it? There are various strategies that one can use to do this, regardless of whether he is a novice or an experienced trader. One strategy may require you to make an upfront investment to get future high returns while another may require you to invest in some software, equipment or tools to generate more Bitcoins. There are even ways to make more money without investing any capital at all, simply by investing your effort and time.
- Trading: Perhaps the easiest and most popular strategy for making more money is to trade the Bitcoins. This means buying Bitcoins at lower prices and then selling these at higher rates. But in the process many traders end up making huge losses because the crypto market is very volatile. So, to trade well you need to follow certain rules and guidelines. However, the invention of automated trading bots like bitcoin pro has created a revolution in bitcoin trading. The bots help even the beginners to trade like a pro.
- Micro-earnings: When you are patient by nature and do not get hassled by advertisements popping up you can earn Bitcoins for free simply by performing some minor tasks. There are many faucet websites which pay you on a PTC or Pay to Click basis. This could involve clicking on any captcha, or watching an ad, playing a game, etc.
- Faucets: One of the earliest methods for making more money with Bitcoins by investing limited capital was through faucets. Using faucet sites will help you earn small amount of money from time to time but if you can create a Bitcoin faucet on your own and run it independently, you can enjoy far higher earnings. So, you charge other companies to run the ads on your faucet site and receive payments in Bitcoins. However, you must understand that this is not an easy job because you will require some capital to get started and you have to put in time and effort.
- Affiliate Marketing: An easy way to earn more money with Bitcoins is to become an affiliate marketer. You can agree to market or promote certain services or products free of cost. You get paid in return for every buyer that you bring to the website. Once you join as an affiliate marketer, you will be given a link that you have to promote.
- Mining: Mining is easily the best way to generate more Bitcoins but it is also the most challenging one. You will need to invest in sophisticated mining equipment like the ASIC miners. Since establishing and maintaining an independent mining rig became challenging, miners chose to become members of mining pools. By doing so, they agreed to contribute their hash power to the mining pool in the hope of getting higher returns. However, you cannot overlook the demand for power, and the astronomical electricity bills are slowly dissuading miners from Bitcoin mining.
- Lending Platforms: Investors who hold Bitcoins can lend their coins to earn more money. Cryptocurrency lending platforms therefore provide Bitcoin holders with a chance to make loans to those who are interested to get Bitcoins. This demands minimal effort on part of lenders and the interest rates are quite appealing.
- Writing about Bitcoins: You can write in-depth about Bitcoins because there will always be people keen to read about it. You may ask your viewers to tip you by providing your Bitcoin address to them at the end of article. You can also become a paid member at a site focusing on Bitcoin information and get paid every time your work is appreciated.