As the largest cryptocurrency by market cap, Bitcoin has been described as one of the greatest inventions to greet the financial space. According to its whitepaper, the crypto is virtual money, designed to enhance peer-to-peer transactions. Certainly, the way in which BTC gets its value is not far-fetched. It possesses a fixed monetary supply. This thus serves as its primary source of value.
Since 2013 till date, BTC saw a massive upsurge in its value, a development which turned many of its early investors into billionaires. Between 2013 to 2021, the crypto rose from $200 to $63,000. Although, it recorded a massive downturn throughout 2022, trading within $19,000 to $21,000 in the most part of the year. This downturn was caused by the collapse of the Terra UST project which left investors with at least $40 billion in losses. Also, the crash of FTX in late 2022 worsened the market for BTC. By virtue of this, we can say 2022 was a turbulent year for Bitcoin and the entire crypto space at large.
But, it is still not in doubt that BTC has, in the past few years, grown in terms of mainstream adoption and popularity. Today, the crypto remains one of the acceptable payment options in countries like Brazil, El-Salvador and a few more. This impacted the global value of the crypto and gives it an edge above other cryptocurrencies. As it grows in popularity, many opportunities are coming into the limelight for beginners to leverage. Unlike a few years ago when the only opportunity leveraged with BTC is trading, people can now harness bountiful opportunities with the token. These opportunities thus provide enablement for participants to earn either passively or actively. With this guide, beginners will learn the various ways through which they can make money with the largest crypto by market cap.
Certainly, trading BTC remains one of the biggest techniques to make money. Over time, traders harnessed the market potential of the crypto to amass money. As a matter of fact, many became billionaires through trading of BTC. Trading BTC involves buying and selling of the token. Meanwhile, trading is not as easy as perceived. Beginners need to learn how to analyze the market technically to enjoy the dividends of BTC trading. Sometimes, it takes years for any beginner to become a master in trading well.
Even as a professional in trading, it still comes with a lot of risks. So it is advised that anyone willing to dabble into BTC must start with investments they can forfeit without losing sleep. This serves as a form of risk management and prevents big losses. Although, irrespective of the risks, BTC trading remains one of the ways to make money.
Certainly, Bitcoin mining has also been established as one of the ways to earn money with the token. Mining of BTC, as defined by its whitepaper, involves thousands of computers identified as mining rigs. These rigs compete to take note and verify all transactions initiated on the network. Worthy of note that miners get rewards for their efforts on the network, thereby making the endeavor another avenue to earn money. Their rewards come in newly mined BTC coins. The only drawback to today’s mining as a source of earning money is the high cost of electricity. But, miners require standard equipment with better processing ability to earn better through BTC mining. With a fully installed rig, users can earn as high as one BTC per month. This thus makes the endeavor one of the best ways to make money with BTC.
Taking Crypto/BTC related jobs
The global expansion of Bitcoin and other cryptocurrencies provide more job opportunities for people to harness. Today, there are scores of jobs spread across different projects in the industry for people to take. This thus leaves individuals with the freedom to surf for job opportunities that suit their knowledge and expertise. Many of these projects, including blockchain protocols, crypto news firms and others pay their employees in Bitcoin.
Meanwhile, Bitcoin or Crypto related jobs have one edge over other jobs. This is the fact that most of the opportunities are usually remote, thereby allowing workers to work from their homes. More so, job seekers can either choose to work on a full time basis or part-time. To find many of these job opportunities, check websites like CryptocurrencyJobs, CryptoJobs and others. These sites usually post a wide variety of job opportunities enveloped in the sphere. Some of the most sought-after roles include developers, graphic designers, video makers, traders and many more.
Over time, airdrops have served as a significant means through which crypto optimists earn passively. Due to the heavy competition in the crypto space, many new or existing projects offer airdrops to hype and promote their projects. With BTC airdrops, users get the assets from the projects offering it for free. This means the endeavor requires no capital investment from any of its potential beneficiaries. In most cases, potential beneficiaries are usually made to perform small tasks, like joining the promotion of the project, retweeting certain messages and others to become eligible for the airdrops. Meanwhile, some airdrops require potential beneficiaries to hold a particular token to become eligible. Today, there are numerous platforms for beginners willing to be in the know of latest airdrops in the sphere. Some of them include Airdrop Alert, CoinmarketCal, Airdrops.io and many more.
Staking and Running a Masternode
Without any doubt, staking and running a masternode has also become one of the most effective ways of making money with Bitcoin. Serving as a close alternative to BTC mining, the endeavors foster the security of the network and ensures the BTC blockchain is powered. According to our findings, masternode hosts get rewards through the segment of block rewards enveloped in the hosted crypto. In the end, participants earn as high as one BTC for running a masternode on the network. This thus portrays the endeavor as another way to make money with Bitcoin.
Content Writing to earn Bitcoin
Content writing is one of the lucrative ways of earning BTC. The opportunities in the crypto sphere are endless and skilled writers can explore the industry to make money. However, writing opportunities in the crypto space could either be based on creative or technical content. To some extent, the media has been the most active vehicle that has aided the growing adoption of cryptocurrency. Due to that, most crypto projects are aiming to have a good projection in the media.
Therefore, as a skilled writer, you can earn BTC by creating a niche for yourself in Technical Analysis, Price Prediction, Press Releases, News, Feature Articles, and Profiling. Also, numerous crypto projects need writers to properly design their whitepapers in one of the most effective ways. Though, writing some of these contents may require extra training outside the writing craft. Yet, these are lucrative opportunities begging for cultivation in the industry. More so, most of these contents generate rewards that are mostly paid in BTC.
Lensing BTC can be a lucrative means of exploring the industry. Though It may require huge capital, still it’s one of the passive ways of earning BTC. The major idea behind this method is lending out BTC with interest which is designed to accumulate more as the repayment period elapses. Despite being a lucrative method, it poses certain risks. To enforce repayment, borrowers will need to provide collateral that’s worth more than the BTC they borrow. With that, the borrower will have enough compelling reasons to pay up.
From another negative perspective, the absence of valuable collateral or mechanisms that can compel the borrower to repay may result in a loss of funds for the lender. Additionally, providing collateral that isn’t worth up to the BTC borrowed can be risky. Lending can as well be risky if the crypto exchange in the custody of the assets folds up. The borrowers can easily forfeit such assets or collateral and refuse to pay back. Consequently, putting the lender to run at a loss.
However, we’ve seen various lenders in the crypto space strive. Mainly, the risk is usually on the borrower. Lenders in the crypto space have automated the whole process to compel a repayment without relying on a third party. Leveraging automated mechanisms to lend out Bitcoin is pivotal for earning Bitcoin as a lender. The highlighted risks stand no chance to come into play in the face of the automation of the lending process.
Without utilization, most crypto projects will barely survive. Thus, most of these projects require high engagement on their numerous uh social media platforms to keep their patronage high. Most crypto projects must employ community managers to manage their communities. Management in this aspect will require an ever-present team that is always on the go to assist and answer questions from community members. Community managers are crucial figures that help in keeping the project relevant and aid new users to onboard seamlessly. Also, they assist old users to proffer solutions to prevailing problems.
Community managers can be regarded as the life wire of a functioning project. They help in growing communities for projects. The higher the community grows the more a project needs community managers. So, to some extent, community managers are one of the most sought-after in the industry. Earning Bitcoin with this opportunity is very much possible. Most crypto projects prefer to pay in virtual assets. Also, they sometimes provide their team members with an option on which virtual coin they prefer. Bitcoin enthusiasts can decide to request their favorite token from their employers while working as community managers.
Podcast and YouTube Channels
Another fascinating way of earning Bitcoin is through the monetization of Podcasts and YouTube channels. Yes, these avenues can yield good BTC returns if a content creator monetizes their viewership. To attract crypto enthusiasts and earn in Bitcoin the content must focus on their subject of interest. In that regard, content creators aiming to earn in Bitcoin must embrace the idea of producing crypto-related content. Though, these contents must be rich and highly educational.
To produce Podcasts and YouTube contents that will attract crypto enthusiasts, such creators should consider content like Price analysis, News on Rug Pulls, Price Rallies, and Trending projects. More so, their content can focus on Regulations, Adoptions, Profiling, and Game-Changing innovations. Also, they can feature celebrities and top executives in their episodes. With that, you can attract more viewership which if properly monetized can yield rewards in Bitcoin. To monetize content, creators can charge firms and individuals in Bitcoin to run adverts for them. Furthermore, content creators willing to earn Bitcoin can request subscriptions for their followers to access their page.
Accept payments in Bitcoin
This is one of the most seamless ways of earning BTC. As a business owner or retailer, you can accept payments in BTC to earn the token. To explore this opportunity to gain more, you price your merchandise and services at a regular fiat price and request payment in Bitcoin.
With this system, you can earn passively as the token acquires more value in the crypto market. You can employ a regular Hodl system to gain more under this method. This system is flexible in that business owners and retailers can keep the Bitcoin and sell them later on at a good rate. However, to embrace this system, business owners must establish a good pathway that’ll facilitate payment.
Though the availability of the above-listed opportunities may not be available in some regions due to regulations. Also, cryptocurrency is still at a growing stage in some regions, thus limiting access to the aforementioned opportunities. Some of the opportunities don’t require technical skills or advanced knowledge about the field.
In that regard, earning Bitcoin isn’t rocket science as interested persons can tap into the industry to dig up opportunities. Lastly, ways to earn BTC isn’t limited to the listed options. The vast nature of the crypto space provides users with endless opportunities begging for attention.