Money

Carefree (But Responsible!) Ways Of Making Money With Bitcoin

Carefree (But Responsible!) Ways Of Making Money With Bitcoin

Bitcoin is a decentralized cryptocurrency (the first of its kind!) based on blockchain technology.

Everyone has heard of it and most know… well, you can make money online from Bitcoin, too!

Since its inception in 2009, Bitcoin has created many crypto millionaires, who bought the currency cheaply, held on to it, and sold high.

But can you still get rich on BTC today? Yes!

There are plenty of ways to make cash from Bitcoin in 2022. Here are a few for you to consider…

Try Your Luck at Online Casinos

Ever since Bitcoin was invented, there have been online casinos where you can gamble your coins. However, not until recently have Bitcoin casinos been socially accepted. Gone are the unreliable and fake online casinos – today the operators are safe and regulated.

As an added perk, many use provably fair concepts to ensure all games are safe and fair. These games allow players to prove the fairness of a game, giving them unprecedented peace of mind.  A Bitcoin casino is just like any online casino, where you’re able to play table games like baccarat, roulette, and blackjack, as well as slots and live game shows.

Deciding what is the best Bitcoin casino for you can be a headache, so it’s best to read unbiased reviews and check the games available to play before signing up. But remember, when you gamble, you can win or lose, so always play responsibly and only wager what you can afford to lose!

You’ll notice that only cryptocurrencies are accepted when you play at a Bitcoin casino. This means deposits and withdrawals are much faster than in traditional online casinos. And, it gets better, too – welcome bonuses are normally more generous too, with BC.Game Casino offering up to 5BTC.

Start Bitcoin Mining 

When Bitcoin started, it was way easier to mine than it is today. Nonetheless, you are still able to buy a mining rig and earn cryptocurrency this way. If you live in a country where electricity is cheap, it’s an excellent way to start earning Bitcoins with no risk.

The reason it’s called mining is that there’s a finite amount of Bitcoins – 21 million to be exact. To mine Bitcoins, you need a computer that will solve complex mathematical problems. Once the problem is solved, new ones are generated, and you will be rewarded. However, that’s not the only job of a Bitcoin miner.

Solving the problem actually means you’re using your computer to verify transactions on the network and prevent fraud. And the more miners there are, the faster transactions are, hence why they are compensated for their work.

Trade Bitcoin Against Other Cryptos 

Trading is the fastest and easiest way to make money from Bitcoin. As all other cryptocurrencies are paired to the coin, you need to buy low and sell high, or vice versa if you’re shorting the instrument.

Nowadays, you can use many reputable online exchanges to start your Bitcoin trading adventure. These include Binance, Coinbase, and OKX. Just register on the site, fill out your personal information and purchase some Bitcoin with your FIAT currency to get started. From there you have the opportunity to trade all different types of cryptocurrencies.

But, it’s not a matter of simply doing your research, learn a few technical analyses and start trading. Trading is a risky activity and many end up losing – so, once again, only trade what you can afford to lose. 

Alternatively, purchase the second most popular cryptocurrency – Ethereum, and use it to purchase NFTs. NFT trading is a skill, you need to buy undervalued projects, whether artwork or a trading card, and sell them at a higher price at a later date. 

Create Bitcoin-Related Content  

An excellent way to get started earning Bitcoins is by creating content. This can be writing articles, or you can produce content on blockchain platforms such as Steem, Pi Network, or LBRY. These crypto protocols pay you in the respective digital coin for your content, which can amount to serious cash over time.

The social media platform Twitter recently launched crypto-tipping for all its users. It allows access to third-party payment apps like Square and Venmo, where you can receive Bitcoins as a tip for the content you publish.

Whatever you decide, it’s a matter of creating quality content and being consistent. You may have to wait a while, but you will eventually reap the rewards if you are helping, educating, or entertaining people in the Bitcoin community.

About Author

Dana Cull

Dana is a digital content creator with a self-confessed obsession with writing. She is also an avid reader and loves to spend her leisure hours watching documentary films from different directors across the world.