What are some ways to earn a profit using Bitcoin in 2020
Are you eager to make a profit with Bitcoin? This technology is based on the usage of encryption, which makes it anonymous and super secure. There are no regulators like banks or governments – the rules are defined by the users. It is not that tough to get your hands on Bitcoins. You just have to know the right method and the correct way and time to use it. There are some for beginners and others for more knowledgeable traders.
Here is how to earn some money using crypto:
1. Mining
As with mining gold, bitcoins have to be brought out to the surface. A special software is used to solve something resembling a math problem. The first miner to solve it wins coins. This is how the system operates.
In the beginning, it used to be easy with the early adopters mining thousands of bitcoins without difficulties. Nowadays, things are a bit different.The huge competition requires expensive hardware with big computational power. It is needed because the algorithms which need to be solved have also become tougher. Many create pools (a group of miners) and work together in order to succeed. The reward is then split among them. In the past mining used to be a lot more profitable and many believe that you no longer can earn money through this method. Predicting correctly and analyzing the market might help you to still earn a profit.
2. Bitcoin Faucets
If you have time and are willing to watch ads and answer surveys, you could turn to bitcoin faucet websites. These companies earn money via ad impressions. Going to their site and answering some questions will earn you a little bit of money.
3. Pay To Click Websites
There are some platforms where you will be required to watch an ad or click to a certain page containing ads and then you will be rewarded in bitcoins. It is not an easy task to earn a big amount and it could get quite tedious. BTC4ADS pays around 100 satoshis (0.00000100 ฿) and Coinadder pays around 25 satoshis per click.
4. Micro Jobs
There are also platforms which will pay you for doing a small task like watching a YouTube video or completing a survey. Some give bitcoins. The website Bitcoinget is one of the most popular and it pays 20k satoshis per task.
5. Writing
Cryptocurrency is a new niche and not so many people tend to understand and write about it. If you are willing to learn about the industry, you could quickly become a successful writer. SOme of the companies which would reward you for your work are CCN and Blockchain Aliens. You can also become a freelancer and use such platforms.
6. Help others
You can also get bitcoins in the form of tips by helping other people. Use bitfortip in order to make it happen. Many people want to participate in this new and exciting industry, but can’t quite figure it our. You can become one of those people who are there to help and answer questions about crypto.
7. Gambling
This is not the best option but it could still earn you bitcoins. Since this industry is still rather new, you can get big bonuses for joining or even several rounds of your stake to start with. Visit Bitstarz and mbit to learn more and gamble.
8. Buying and Holding
You should first have a secure wallet where you will keep your bitcoins. One option is the digital wallet offered by Paxful. You should do your research beforehand and make sure that the wallet you are choosing to use is safe.
You have to have patience when it comes to investments in crypto. You will have periods when you will need to wait for the price to increase. Analyze the market and learn how it operates. The term “Hodl” (“Hold On for Dear Life’’) is used for when you are holding coins and believe that one day they will bring you profit. with the belief their coin will be profitable one day.