Bitcoin’s incredible journey since its 2009 launch has helped a lot of people make money. But the journey hasn’t been easy and there have been lots of ups and downs.
As with any new idea, it can take time to convince people that it can work and there are still crypto doubters to this day. However, there is a clear market for a decentralised alternative to fiat currencies and as the trailblazer, Bitcoin is recognised as being the top crypto asset.
Its use as a spendable currency is becoming more widespread with many top retailers and brands now accepting it. But users can also make money from Bitcoin if they are lucky. We take a look at some of the best ways to make your Bitcoin work for you.
Crypto Trading
Trading can help consumers with good market knowledge to earn money by selling cryptocurrencies when they are at their highest value and investing in promising new options when prices are low.
Arbitrage trading allows users to benefit from price differences between cryptocurrency exchanges. This will be important for crypto holders who want to make the most of any deal.
Investing
There are a couple of ways to make money through crypto investments including identifying new cryptocurrencies with good potential. Crypto will typically be at its lowest value during its early days, so stocking up on it and selling it on when it gains value can offer great rewards.
That ship has sailed to some extent for Bitcoin, but price fluctuations can still offer some value. It can also be used to invest in other fields that accept crypto as a payment method.
Gambling
Gambling in a Bitcoin casino probably holds the biggest risk versus reward, but it can be a fun way to increase your digital assets if you know what you are doing.
Crypto casinos provide their customers with an extensive selection of traditional and state-of-the-art casino games, and some also offer other betting markets including sportsbooks.
This can be a great way for seasoned casino gamblers or sports experts to put their money (or crypto) where their mouth is. While gambling always carries a risk, experience can help mitigate this.
Casino rewards and bonuses can also help consumers increase their stake without increasing risk, helping them earn more Bitcoin that has the potential to rise in value.
Mining
Mining Bitcoin can be a time-consuming but lucrative way of earning money. You will need the right hardware and software before you can start, but after this initial outlay, it will just be energy costs of running computers that will cost money.
Affiliate Programs
Cryptocurrency exchanges can often run affiliate programs to help their growth, and consumers can take advantage of this to earn Bitcoin and other cryptocurrencies by referring family and friends.
Alternatively, if you are serious about crypto and have a strong online presence, you can earn money by blogging and referring followers that way.
Play to Earn
One of the most entertaining ways to earn money from Bitcoin is by playing Play-to-earn games. P2E gaming lets users earn prizes that can be cash or crypto by progressing through different stages in the game and ranking on their leaderboards.
As well as being able to earn Bitcoin in some blockchain tech games, users also have the opportunity to win unique NFTs that can then be traded or sold in the game or with other players.
Many games now have in-game purchases in order for players to progress at a faster rate, this option means that players can earn rather than spend when playing their favourite games.
Crypto Social Media
Cryptocurrency social media platforms work in a similar way as play to earn games and reward their users with crypto for completing certain tasks. Content creation is a big part of social media and users can earn while creating and curating captivating content.
Crypto Credit Cards
Credit cards are typically associated with spending, but cards that offer rewards can be a way for users to earn. Crypto credit cards work in the exact same way as traditional credit cards. Making purchases and paying them off before interest accrues can make consumers eligible for rewards including cash-back deals.
Conclusion
Anyone who invested in Bitcoin during its early days and held onto it will have seen an incredible return on investment. While many people will dream of being able to go back in time to invest, there are still opportunities to make money from it today.
Play to earn and crypto gambling can be fun ways to earn money from your crypto investments while taking the time to learn more about potential new projects can help you identify the next Bitcoin.
There are no guarantees when it comes to cryptocurrencies, but the more you learn about their capabilities and who is launching it can make a big difference to your returns.
