So you want to earn bitcoin? You are reading this post that means you already know that what potential bitcoins has and how it changing the face our economy.
If you are planning to invest in bitcoins and gain profits from it, then your are accepted the changes in the economy.Yes, Bitcoin might be the future of economy. If it is the future so why we not invest in it to gain some profit in future.
But before starting, I must tell you that earning bitcoins is not easier as it looks.
But don’t worry if are understand the basics that I am telling you in this post and follow it properly. I assure you that you can also earn bitcoin and make a huge profit from it.
If you want to make serious money from bitcoins you need to know some basics about bitcoins. I think you know what bitcoin is? and how it works? If not so please read my earlier post which tells you all the basics about bitcoins and how to use bitcoins.
So I think you are gone through that above tutorial if not please go through it.
In this post, I am telling you the ways to earn bitcoin and then sell it at right time to make huge profits.
Please read this post till the end because at the end of this post I am telling you the secrets of trading bitcoins.
So there are five basic ways to earn bitcoin.
Buy Them (when price are lower and then sell it at higher price)
Image Credit: MaxPixel
As I told you that the bitcoins are highly volatile that means the prices of bitcoins changes every day/hours. So be smart and buy bitcoins when the prices are low and then sell when prices are high.This is the easiest way to earn profit from bitcoins.
But it is very risky as the bitcoins is very volatile.
There are many crashes in bitcoins, some of them are above 50%.
In 2014 the prices of bitcoins suddenly cut-off by 50%, but the good thing about bitcoins is that their prices recovered after each crash.
To successfully earn profit from buying bitcoins you have to buy them at low prices hold them until the prices hikes. and then sell them at high prices and keep the difference.
-This is the easiest but risky way to earn bitcoins.
There are many other ways to earn bitcoin. Let’s see them.
Barter (Sell product and services)
You can sell product and services with bitcoin if you have some online or might be offline business.
Let me ask you a question, how much money the third party charges to do the transaction? Yes, a lot but it is not happening in the case of bitcoins. As the transaction happens is peers to peers (i.e. happens person to person) no third party involves.
This strategy helps you not only to earn bitcoin but you can also boost up your sales by accepting payment in bitcoins.
For accepting bitcoin you don’t need to do any paperwork or open any account. You don’t have to depend on any third party to complete the transaction. Just you need a wallet address where you can receive Bitcoins.
If you don’t start accepting bitcoins yet, go ahead and start accepting it. It really boosts your sale. In my case, I also accept bitcoins from the advertiser. This is the fastest way to do the transaction.
Mine then sell
If you are new to bitcoin you definitely don’t know much more about bitcoin mining.
As I said earlier there is no third party involves in your transaction so who verify whether the transaction really happens or not. Here the concept of bitcoin mining is introduced.
In bitcoin mining, some bitcoin miner solves the complicated algorithm behind the transaction by using very powerful mining GPU and hardware to verify the transaction,
Mining is the process in which some miners (people ) solves the complicated algorithm behind the transaction using mining software and hardware and verify the transaction really happened or not. To verify that transaction this miner get some reward in the form of new bitcoins.
So you’re thinking how I can earn bitcoins with the process of mining, as I don’t know how to solve the algorithm behind the transaction. But the process of mining is not as difficult as your thinking. You just need to run some mining software on your PC to do bitcoin mining.
So verdicts I that earn through mining, hold them and sell them at right time.
Offer discount in product/services for payment in Bitcoins
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If you are running a business may be it online or offline no matter what it is, you can offer some discount when anyone pay with bitcoins.
As the popularity of bitcoins is increasing day by day it really helps you boost up your business.
You can invest in bitcoins. But I told you that it is very risky.
Because the bitcoin is very volatile as I earlier. But I think investing in bitcoins is very good option. Because I had seen that the prices of bitcoins have increased in value 10,000% in the short period of time.
Remember some tips before investing in bitcoins.
-Dont case emotional buying
Don’t just buy bitcoin because everyone is buying. Do some proper market research. Then buy and sell it at right time.
-Consider the risks and your goals.
Another thing you have to consider the risk of bitcoin and your goals because bitcoin is just an experiment. Yes, there is really first successful cryptocurrency and right now there are over hundreds of cryptocurrency in the market.
Also, I recommend you to trading with bitcoin or invest in bitcoin with money you can’t afford the losses.
Investing in bitcoins is very good option for everyone. I have seen very much growth in prices of bitcoin and also in its popularity in short period of time