Top 10 Ways To Make Money With Cryptocurrency By Trading
Cryptocurrencies need no introduction. In more than ten years, it has managed to become one of the most revolutionary changes in the work of digital transactions. However, when it comes to its applications, cryptocurrency has become a key attraction for many investors. When we talk about cryptocurrency, Bitcoin becomes a default choice. Although more than 5000 cryptocurrencies are floating in the market, Bitcoin remains the apple of the eye of many investors. So, here we are going to discuss what are the ten ways of making money with cryptocurrency or Bitcoin.
10 Ways To Make Money Using Cryptocurrency Trading :
1. HODLing- Buy and Hold Bitcoin- This is a simple rule of trading wherein the investor buys Bitcoin or cryptocurrency with an intent to hold it for a long time and then selling it in the future. It is a kind of long-term investment.
2. Bitcoin Arbitrage- In this, the investor buys Bitcoin at a low price from the cheapest exchange and then selling it at a higher price on another exchange. The difference in the price between the two platforms becomes the low-risk profit for the arbitrate trader.
3. Bitcoin Futures Trading– It allows the traders to assess the pricing of Bitcoin without actually owning the cryptocurrency. It works on betting long or short against the price of Bitcoin, or other cryptocurrencies.
4. Bitcoin Solo Mining- If you have a setup of a Bitcoin miner, then you can start as a solo-miner. You would need massive hash rates for this.
5. Bitcoin Mining Pools– It happens when different miners come together to increase the hashpower, it eventually helps in generating Blocks faster as the difficulty becomes more.
6. Bitcoin Cloud Mining- If you want to start mining in Bitcoin, then there is an option of hiring mining equipment in a remote location. The mining takes place remotely where it is affordable to mine.
7. Bitcoin Network Marketing- Different companies are offering bitcoin mining investment via structure where people get a commission on referral. These systems combine cryptocurrencies and network marketing.
8. Bitcoin Affiliate Programs– There are cryptocurrency companies that also give rewards in Bitcoin to the people who refer to a new customer. You can join any Bitcoin affiliate program and connect with other users on social media. For example, you can join the Bitcoin affiliate program, and then create YouTube videos about the product.
9. Bitcoin Faucets- These are websites where you pay in Satoshis ( the smallest fraction of a bitcoin, 0.00000001 BTC)to complete a task like downloading the apps, completing the survey, or watching ads or videos.
10. Binary Trading With Bitcoin– These have been there in the world of finance for a long time, and now it is moving in the world of cryptocurrencies. For example, you have two options to choose for Bitcoin price is $3000 now (at 10 AM), or you can invest in price, which is more than $3000 by 6 PM. Say the price of Bitcoin is higher than $3000 at 5 PM, then you can sell it at this time.
Conclusion- These are a few of the ways that help you make money and earn more with Bitcoin or cryptocurrency.
Top 10 Ways To Make Money With Cryptocurrency By Trading was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.