The question “How to make money on the bitcoin rate” is becoming more and more relevant every day. You can get what you want by doing work with payment in Bitcoin or by selling goods with the same condition. The goal is one – to fill your wallet with as many digital coins as possible.
Ways to make money with bitcoin
Almost any cryptocurrency earnings are designed to maintain the BTC uptrend. Then the desire to increase the amount of savings in bitcoins is justified. If their price starts to fall, it will be more profitable to trade on the stock exchange, getting profit both on the growth and on the fall of the rate. But for now, there are several ways open to those who want to make money.
Common ways to get Bitcoin
- Sale of goods/services for cryptocurrency through a payment system connected to the site or by direct transfer to the seller’s wallet;
- Mining on your equipment by connecting to a pool of miners or renting a remote server;
- Exchange trading with trading on the BTCUSD pair (similar to working with currency pairs like EURUSD);
- Cross-exchange trading with buying bitcoins on one exchange and selling on another, where they offer a more favorable rate;
Buying crypto through exchange sites
There are also quite non-standard options. For example, bitcoin faucets, and gambling. They allow you to receive digital money “just like that”. Compared to them, making money on a cryptocurrency exchange is a big and difficult job. The methods of making a profit can be combined in any combination, depending on the number of free funds.
Trading bitcoin
If you have chosen stock trading, start your work by installing the MetaTrader 4 terminal or its equivalent. Before making a real deposit, it’s worth learning with a demo account. It is possible to test various indicators, automatic advisors, and manual trading strategies on it. And once you start making a profit, switch to real money.
Basic rules for trading on the exchange
- Choose a reliable company – you can focus on the availability of reviews on the Internet, on the equipment of the site (is there a thematic forum, the functionality of a personal account, etc.);
- Finding a currency pair is the most common BTCUSD option, some exchanges offer exotic things like BTC ETH (Bitcoin / Ethereum);
- To study the current market – technical analysis of the chart in MetaTrader 4 or its online version will help here (you can pick up news sites that publish information about the cryptocurrency market, and events in the world regarding bitcoins).
Typical work on a cryptocurrency exchange is to regularly monitor the chart and identify the trend reversal trend. You should not “jump on the departing train”, it is more profitable to wait for the correction or the continuation of the rise/fall of the rate. Then the trade will become profitable. To diversify risks, you can create accounts on several exchanges. This will exclude the possibility of losing the deposit due to the dishonesty of any company (non-trading risks).
Arbitration method for making a profit from bitcoins
If a trader likes active work more, an arbitrage system is suitable for him. It is based on the difference in exchange rates. From time to time, situations may arise when it is more profitable not to trade within the framework of one company, but to engage in buying/selling, and very quickly, while the bitcoin rate is at a favorable level. This procedure is often automated, then you don’t need to understand how to make money on the cryptocurrency exchange. It is enough to start the robot and do other things in anticipation of profit.
Bots allow you to be in the market around the clock and do not require any skills in currency trading. A stable internet connection is enough for them. For this purpose, you can rent a server on a remote basis and run the software there. If everything is configured correctly, all that remains is to periodically withdraw profits.
Bitcoin faucets as a way to make money
Against the background of the popularity of bitcoins, sites began to appear for earning cryptocurrency by visiting online resources with advertising. At first, their purpose was to attract the maximum number of users to the bitcoin network. Gradually, they turned into platforms for advertisers. Traffic on them is provided by a huge interest in cryptocurrency in general and in bitcoins in particular.
The advantages of this way of earning:
- There is no initial investment;
- To start, you only need a bitcoin wallet;
- The method and time of receiving coins are chosen independently.
A huge selection of “cranes” allows for a short period to put together the initial capital for investing in trade. There is also a drawback. The method is suitable only for those who have a lot of free time. It is he who has to be “invested” because the account is replenished relatively slowly (Satoshi is distributed on bitcoin faucets, not whole coins).
Selling goods for Bitcoin
If there is a desire to expand the investment portfolio, many are thinking about where to earn bitcoin, except for exchanges and faucets. There is only one way out. Create an Internet site for the sale of goods or services, equipping it with a software module that accepts payment in BTC (including parts of it). When choosing this method, it is recommended to take into account the high cost of bitcoin. The products sold must have an appropriate price.
While this service is more practiced on foreign sites. But no one bothers to create your own business. The main thing is to first take care of the flow of funds through other ways of earning. Indeed, for the development of the site, investments will be needed both at the time of creation and afterward (advertising, technical support).
You can also buy goods for sale by paying the supplier with bitcoins (by earning the first deposit on the same faucets).
