7 Ways To Make Money With Bitcoin

There are a number of ways that individuals can generate Bitcoin online. Unfortunately, as in real life, nothing is really free. Any way to make money with Bitcoin always needs something instead of time, knowledge, or computer processing.

Source Image
Some of the ways to earn money with Bitcoin described below will mention things, including how to do business up to a certain level of expertise about Bitcoin industry and market. Therefore, keep in mind that making money with Bitcoin is not as easy as expected, because a high level of knowledge also plays an important role.

1. Bitcoin Trading

The first way to earn money with Bitcoin is with Bitcoin Trading. The principle used exactly the same as buying and selling in the real world, which is "buy at wholesale prices, sell at retail price" or "buy cheap, sell at a more expensive price". This trade can be done either with P2P (Peer-to-Peer) directly without intermediaries, or using the services of Marketplace or Broker.

Source Image
Examples of Marketplace we can use are, Triv, and so on. This marketplace usually provides a special platform that can match the seller and buyer prices, then execute the Order. However, usually profit is determined in one direction, that is when it was bought with a cheap price, and sell it at a more expensive price

While examples of brokers that provide Bitcoin trading features are Instaforex, FXOpen, and so forth. Another way that is still associated with Trading Bitcoin is Bitcoin Futures, which can be done in various providers of Futures Market like CBOE and CME Group. Keep in mind, Trading Bitcoin offers a huge profit, but the risk of loss is also comparable. So you should really think about the risk-taking readiness you are able to receive.

2. Micro Income

Although micro income is the easiest method to earn money with Bitcoin, it is the most time-consuming way to earn money with other Bitcoins. Various micropayment websites pay you in the form of Bitcoin to complete some minor tasks. Examples of such micro-income sites are:

Paid To Click (PTC)

This site pays its users with Bitcoin to visit websites or view certain ads. There are many PTC websites that will pay for small activities with Bitcoin like Ads4BTC. Our task is very easy, ie only visit one site or ad for 5, 10, up to 20 seconds only. Usually, for earnings per day that can be obtained from the PTC is less than $ 1 only. But earnings can be maximized if we have enough Referral.

Bitcoin Faucet

Bitcoin Faucet is one type of website that gives a small amount of Bitcoin to its users, whereas site owners will make money from ad placement on their website. To date, the number of industries engaged in the Bitcoin Faucet field is over 50% of all traffic on Bitcoin's leading websites (comprising exchanges, Wallets, etc.).

Micro Work

Micro work is small tasks that can be completed in return for a small amount of Bitcoin. Websites such as Coinworker offer such tasks, which may involve only plugin testing tasks to see if they are compatible with browsers, retweeting tasks, or other small tasks. Indeed this category is still only able to provide a very small rewards, but the potential is greater than the PTC.

3. Bitcoin Site For Passive Income

One of the most likely and successful opportunities is to create a site that contains all pertinent information about Bitcoin and crypto currency in general. You can discuss about Bitcoin news, Bitcoin knowledge, and other things related to Bitcoin and crypto currency.

It may take longer (about 5 - 12 months) and some money to rent Domain, Web Hosting, and Freelancer if necessary, so that your efforts can start to be replaced. But in the long run, with a controlled and credible site, this kind of site can generate a lot of visitors, and from this visitor the coffers of money from Ads (Ads) can be collected.

4. Selling Products And Services

Since Bitcoin is a currency, this means you can make money from selling almost all types of products and services by accepting Bitcoin as one of its payment instruments. We have a lot of Offline and Online stores in Indonesia who have received payment through Bitcoin. One example is CasCades Restaurant Ubud Bali, cilukba [dot] co [dot] id, and many other examples.

5. Mining Bitcoin

Bitcoin mining is arguably the most standard way to create wealth through Bitcoin. Bitcoin arises through the breakdown of complex algorithms that make blocks to be added to public Ledger (Blockchain). In short, miners basically build general ledgers and allow the entire Bitcoin system to function. When they make a new block, miners are given a new Bitcoin. This encourages more miners to participate in mining, which allows the Bitcoin community to grow.

Initially, Bitcoin mining can be done with a regular CPU. But along with the increasing difficulty of the algorithm, CPU becomes obsolete and replaced with GPU. Now, the GPU has also been replaced with ASIC devices. In Bitcoin mining, full ROI (Return Of Investment) (BEP) can be obtained in just a few months. However, there are various risks that may occur such as decreased Bitcoin prices, until the emergence of damage to our mining equipment. To mine Bitcoin now, it takes funds up to hundreds of millions, because for 1 ASIC device priced at around Rp25 million to Rp89 million.

6. Bitcoin Investment

The principle of Bitcoin investment is almost the same as Trading Bitcoin, but the difference lies in the time period of HODL done. For example, when Trading takes only a short period of time (daily, monthly), the investment can be done up to a period of years. This investment can be done by buying Bitcoin at a fairly cheap price, then storing it for a long time (eg several years), and reselling it when the price is higher. The goal of course is to get a big profit.

Bitcoin initially only valued $ 0.0015 (less than 1 cent) in 2009. Then in 2010, the price became $ 0.31. At the end of 2017, Bitcoin prices continue to rise to near $ 20,000. If we can invest funds from 3 years ago, certainly the profit earned is in the number hundreds percent. In addition to investing by buying Bitcoin, you can also invest in some projects that involve Bitcoin as its payment currency.

7. Lending (Margin Funding)

This last way is not as popular as normal trading. Some exchanges allow you to "lend" Bitcoin to other users. At Bitfinex and Poloniex, you can make money from Bitcoin through margin funding, even if the results are few.

If you have a higher risk tolerance, taking advantage of a program like SALT might be a pretty good option. SALT is a relatively new platform and provides cash loans when you provide crypto assets as collateral. By using a lending program, you can take a cash loan and reinvest it into the crypto market, for the purpose of improving the position before the loan ends. But it should be noted, this way is the most risk.

Interested in Bitcoin? In order to benefit from the value of Bitcoin, you need to know when it is appropriate to buy and sell Bitcoin. Well, one way to understand it is to know the factors that affect the price of Bitcoin.

Reference :

• https://www.quora.com/Which-is-the-highest-paying-bitcoin-faucet
• http://bitcoinprofit.site/home/make-money-bitcoin-%E2%80%8B/
• Youtube