How to Make Money from Bitcoins

Even if you’ve been living under the rock the last decade, you must have heard about Bitcoin! It has taken the investment world by storm, and promises to revolutionize the global world, the global economy and has the potential to change financial institutions forever. Bitcoin can actually help you make money. As beginners, you might found yourself lost, and if you’re wondering how to make money from Bitcoins, this article can help you in more ways than one. Here are the 7 top ways to make money from bitcoins:

Bitcoin Mining

Mine it

The best way to earn money from bitcoins is the good old traditional way of mining them. It is the process of creating bitcoins, by virtue of which, you bring them to the surface. It can be done by using special software, and hardware, that solve bitcoin math problems. Solving the complex math problems can make the bitcoin network complete a full circle, and as a reward, bitcoins are generated. The rewards mostly come from miner’s fees and are considered high, and the most profitable, in comparison to alternatives.

Bitcoin Faucets

These websites generate revenue from the advertisements they have on their websites, and those individuals who take part in activities of the website are paid rewards by these websites from their advertisement revenue.

Micro Jobs

Several micro working sites pay people who do micro-jobs for them in bitcoin. The biggest contender in the market is bitcoin get, which pays around 20,000 satoshis for every task. But other sites exist too, which pay you a lower sum.

Buying and selling Bitcoin

For buying and selling bitcoin, you’ll need a digital wallet to store it. Numerous digital wallets are available, and for beginners, bitcoin fast profit is an extremely good option. Sign up for an account on sites like these, and get access to a digital wallet. You can engage in trading, yourself, and if you’re unsure about your trading ventures, reliable sites do the trading on your behalf. They have highly powered systematic algorithms that ensure that you get profits while buying and selling bitcoins. They increase your profit-making chances ten-fold and ensure that your money and investments are safe, while you’re embarking on an exciting investment journey. Traders buy bitcoin at a low sum, and sell them, a little later, making a profit. This involves taking a certain amount of market risk, as the cryptocurrency market, like all other investment markets are volatile.

Binary Trading

You can do binary trading with bitcoin. Binary trading has existed in the investment world for a considerable amount of time, and now have trickled down to the world of cryptocurrency and bitcoins, too. It is a little like playing like the Russian Roulette. Binary exists in 2 numbers. And, this means trader buyers buy an option, and at the time of the expiration, either get the money or doesn’t. So, essentially, one is investing in an option, they think, has a winning potential. It is like gambling, but it requires in-depth knowledge in all bitcoins, to predict the market, and the cryptocurrency values, and to ensure whether they would rise or fall, at a particular expiration time.

Bitcoin Affiliates

As all affiliate marketing, we know it works when sales leads are generated for a service or a product, and commission is provided by the service for bringing in a new pool of target audience or buyers. You’ve to sign up as an affiliate marketer to the bitcoin affiliate program, and once you’re accepted, you’d receive a URL that is unique to you, which you share on your social media platforms. When anybody visits the particular website, using your link, and they end up making a purchase on that site, you get a commission. Or, in other words, a percentage of the product price. There are numerous affiliate programs provided that pay from a 10 percent commission to an overwhelming 50 percent. Paxful is one affiliate marketing site you would want to check out!

Be a Master node

Bitcoin serves as the umbrella term for all cryptocurrencies. In that regard, being a master node for bitcoin or for other cryptocurrencies can end up in monetary profits for you. If you’re wondering what a master node is, you might be relieved to know it is a dedicated node that is responsible for keeping track of block-chain in real-time and space. They are always up and running, like bitcoin full nodes. They save, validate, and announce valid transactions, and get a fee for doing the same. They also ensure smooth protocol operations, and they also serve the broadcasting needs. They facilitate other events that are dependent on blockchains and receive heavy incentives for doing the same. Other than bitcoin, cryptocurrencies like Blocknet, Stakenet, Zcoin, PIVX, and Dash are some of the digital coins that provide high and heavy incentives for being their master nodes.

Lana Martinez is a freelance technical writer living in the Santa Clara. She's a gadget and tech geek who loves to write how-to articles about a wide range of topics. When she's not writing about technology, Lana loves watching and reading mysteries, cross stitching, and attending musical theatre. She's also an avid Doctor Who fan.