5 Ways to Make Money in 2021 with Bitcoin
Bitcoin is set to turn 12 years old in 2021. Everyone has heard of Bitcoin as of now. Bitcoin’s money making opportunities continues to grow as our favorite digital currency continues to progress. As more and more people are figuring out how to make money with Bitcoin, we know that it can get hard to keep up sometimes. 2021 can be changed to a bitcoin filled year by you which will be a bit convenient for you. We have drafted a list of 5 ways for that...
Bitcoin mining which is one of the first ways to obtain BTC. To solve complex mathematical problems miners use powerful computers in this process. They are rewarded with newly-minted BTC whenever they crack the code. The ones lucky enough to reap the rewards is basically a race to see who can solve the block the fastest. For more ideas in respect of cryptocurrency, you may see incomeholic.com.
2. Buying and holding
Most beginner friendly trading strategies out there, holding and buying bitcoin is one of the most straightforward strategies. No matter how long that may take, first get a bitcoin wallet, buy BTC, and then hope that price spikes in the future. Before you decide to sell, it could be weeks, months, or even years.
Because of this, the term HODL was coined. It became a full-time trading strategy and started as a typo on a forum. It is essential to look at how bitcoin is valued and go from there and it also means to Hold On for Dear Life.
Trading bitcoin is its fast-paced equivalent as if HODLing is long-term investing. Taking advantage of bitcoin’s highly volatile nature is what BTC trading means. Before you even think of starting it be sure to do your homework as this method requires extensive knowledge and practice of the market.
To get you started, here are a few styles:
- Day trading – Allowing opportunities for small and fast profits, day trading entails short and quick trades. The method entails carefully analyzing the market, capitalizing for a small profit, and seeing small money-making opportunities. Day traders could have an important cumulative gain at the end of the session.
- Swing trading – Swing trading is kind of in the middle as if HODLing is long-term and day trading is short-term. To see their holdings increase in price, swing traders will wait long enough, buy low,, like HODLers and then sell high. However, their holding time isn’t as short as a day trader and not as long as HODLer.
- Arbitrage – To all the styles above, bitcoin arbitrage is similar. Across different platforms, traders who use arbitrage look for these opportunities, however, instead of looking for money-making opportunities within the same exchange. They sell it at exchange B for a higher price while buying BTC from exchange.
4. Taking advantage of affiliate marketing
To bring in new customers, a lot of companies use affiliate marketing. To bring their family and friends to the business as well, this type of marketing incentivizes existing users. They differ from one another as you will see these types of incentives all over the market. You should carefully choose in which program you want to invest your time.
We have got our very own affiliate program, here at Paxful. With bitcoin, it gives users the best opportunity to make money and it is one of the best on the market. See if you would like to give it a shot by looking into it.
5. Accepting Bitcoin as payment
As it continues to flourish, all the businesses have started to see more growth that accepts bitcoin as a mode of payment for all their services and goods. Why not consider taking bitcoin as payment, if you are already running a business.
Speed up the entire payment process, it will widen your global reach while making secure payments. To start accepting bitcoin is incredibly easy and the best part. It is a matter of putting up a small sign at your storefront and beside your cash register if you are running a physical establishment.
To fully integrate it into your website, you can put a banner on your homepage or can use Pay with Paxful which is a payment intermediary like, if your business is online. To your bitcoin wallet at those points customers can just send funds directly.
You can then use those funds for investments once you start raking in the BTC payments. It may just grow in the future, who knows.