Bitcoin—and cryptocurrencies in general—have been the subject of divisive debates for over a decade. Whereas some are wary of the volatile nature of cryptocurrencies, others see them as a lucrative investment opportunity. In this post, we’ll focus on the latter by highlight some of the best ways to rake in some serious cash with Bitcoin.
Although there are tons of possible avenues to reap the benefits of Bitcoin, they can be generalized into the 3 main categories.
This is arguably the most obvious way to make money with Bitcoin. You can easily earn handsome returns by analyzing charts and swapping crypto assets. And unlike conventional stock exchanges, Bitcoin exchanges are always open—meaning you can buy and sell at any time, from anywhere in the world.
Bitcoin mining typically involves joining a global network or setting up your personal computer to solve cryptographic puzzles—while earning free Bitcoins as rewards. You can also consider cloud mining if you’re concerned about the processing power of your computing equipment.
Accepting Bitcoin for Goods and Services
One of the most convenient, simple, and effective ways to make money with Bitcoin is by performing a certain task and taking Bitcoin as payment rather than cash. Whether you own a brick-and-mortar shop or an online store, it relatively easy to set up a Bitcoin payment option.
Aside from potentially increasing your income due to the appreciating value of Bitcoin, accepting digital currencies also opens up your business to more payment options. This is especially attractive for users who value their privacy.