Excellent Ways To Make Money With BitCoin by Carol Evenson
BitCoin is the most popular cryptocurrency in the world. Still, many have not yet unlocked the full potential of this currency to be something that helps them earn an outsized return on investment.
The reality is that Bitcoin can have a much more significant return for those who invest in it compared to the stock market.
As a matter of fact, if Bitcoin were a stock, it would be a top performer in recent days. This is why now is the time to look at the potential to earn money with this cryptocurrency.
Waiting For Investment Return
The old "buy and hold" strategy is not a bad one when it comes to Bitcoin. When you consider how much the value of the cryptocurrency has risen in recent months and years, you would have been a very wise investor to just have plopped some money down early on and allowed it to grow for you over time. Thus, no one can fault you for considering buying Bitcoin now and just holding it to see what happens down the road.
You will need to set up a Bitcoin wallet in order to have the Bitcoins that you need for this investment. Set one up with one of the popular services such as Coinbase and Blockchain to get started.
Earn BitCoin Slowly
Earning Bitcoin through what is known as a "Bitcoin faucet" is admittedly a very slow way to earn the currency. Still, some opt for this as it helps them to get established with Bitcoin and understand the currency a little more. It basically just involves playing some games that have ads attached to them. Play the games, watch the ads, and earn a few cents worth of Bitcoin for doing so. It isn't much, but at least it starts to help you understand how the currency works. Also, with the growth rate of Bitcoin in recent years, perhaps even a few cents per day could really add up to something over time.
Complete Some Micro-Tasks For Bitcoins
There are Bitcoins for the taking via micro-tasks to anyone who is willing to put in a little time and effort. These are simple little online tasks that just about anyone with an Internet connection can do. They range from watching promotional videos to filling out surveys. Regardless of the task, the person who completes it can receive a little reward in the form of Bitcoin.
Again, this is a slower way to obtain Bitcoin, but if you are just looking to kill a little time, then you might as well put that time to good use and consider how obtaining some Bitcoin for the tasks that you do might be a better use of that time.
Day Trading Bitcoin
Most of us have heard of day trading when it comes to stocks or perhaps even a starting a self directed IRA, but why not day trade Bitcoin? The currency moves around in value like a stock would, and there is great potential to make some money on those movements. The reality is that people are trading Bitcoin with one another around the world at all times. There really is no stopping point to the changing value of Bitcoin.
Strategies exist which may help you to better trade in and out of Bitcoin profitably. The biggest thing here is not to get overwhelmed by the pressure to always be trading. Make sure to step back from it at times and just take your profits.
Lending To Entrepreneurs
Finally, it is possible to lend to entrepreneurs to help them get their ideas off the ground. More and more of them are open to the idea of receiving a loan in Bitcoin to get started. If you wish to help out a business owner in this way, you might be able to lock in some profit for yourself on the next big thing before the rest of the planet realizes it is going to be something big. Choose your investments wisely here, but consider the possibilities and perhaps take a plunge into lending to the next big thing.
Carol Evenson is an entrepreneur and professional consultant specializing in C-level training and business growth. She currently works with organizations across the globe assisting CEOs with their expansion strategies. Carol also works as a real estate agent when she has the time.