Since its introduction in 2009, despite having high volatility, the value of Bitcoin tends to increase on an annual basis. Bitcoin is a type of cryptocurrency (digital money) created through the blockchain network and crypto technology. The assets introduced by Satoshi Nakamoto were created in limited supply with only a total number of 21 million Bitcoins. With limited supply and an increasing demand, the value is being driven higher. Although in the short term, the value of Bitcoin assets tends to fluctuate. In the long term, this asset can be a profitable investment.
Interested in knowing how to make money with Bitcoin? Here are 8 ways to earn money from Bitcoin!
- Mining Bitcoin
As previously explained, Bitcoin is the result of a blockchain system. We can see the blockchain system as a global cash system that stores a record of each and every transaction. When you are processing a Bitcoin transaction, it is the blockchain system that ensures that the transaction runs correctly and is recorded. The verification process is carried out by thousands of computers around the world that are connected to the internet network. The computers that carry out this verification process are called miners.
To earn Bitcoin, someone must mine it using certain software and hardware. Mining profits can be high, but the capital to do it is also high. If you are interested and are an expert in the field of computing and also have the capital to purchase the right tools, then this could be your choice method to earn money from Bitcoin.
Airdrop system is a distribution of cryptocurrency which is usually done for free to several wallet addresses. This is usually done by platforms as a promotional effort to attract a larger number of users and also a wider range of coin payment transactions. Usually, platforms that are conducting airdrop activities will send a number of digital assets by randomly selecting recipients, or when the participants have met certain requirements such as a minimum deposit to be made. This is a marketing strategy used by platforms by gifting Bitcoin or other cryptocurrencies to its users.
A faucet is a website or application that distributes a small amount of crypto assets after users complete certain tasks. The task could be downloading a specific app or participating in a campaign. The simpler the task, the lower the payout. If you are interested, all you need to do is sign up for an existing faucet platform and complete the available tasks. The payment will then go to your wallet address once the task is successfully completed. In contrast to airdrops which are carried out as a form of marketing activity or brand awareness, faucets are carried out as a form of payment for work done on the platform.
- Writing Articles About Bitcoin
If you have good writing skills and also have good knowledge of Bitcoin or other cryptocurrencies, then this is a great way to earn money from Bitcoin! You can write articles about Bitcoin assets and get paid. Currently there are quite a number of websites that require freelance writers to write content about cryptocurrencies.
- Trading Competition
Trading competition is when contestants take part in simulation/demo trading with virtual money and strive for the highest capital gain. Contestants who manage to earn the highest profit will get a predetermined prize. If you like to trade, this can be one way to make money from Bitcoin.
- Bitcoin Affiliate
If you have a blog or social media that has quite a lot of followers or visitors, you can partake in a Bitcoin affiliate program to earn money. The affiliate program is a marketing system that is usually held by a platform where users will get profits or payments every time they manage to bring in new users who make payment transactions. There are several platforms that conduct Bitcoin affiliates activities where you can earn from every successful Bitcoin transaction performed through your URL link.
- Trading Bitcoin
Bitcoin trading is buying and selling Bitcoin assets and earning profits through the difference between the purchase price and the selling price. To do so, you need to be able to perform the right analysis to be able to predict the ups and downs of Bitcoin’s value. The value of Bitcoin is very volatile, making this asset one of the most promising trading assets. You can read about different types of markets for trading Bitcoin and other digital assets here.
Staking is an activity where crypto asset users can earn by participating in running a Proof-of-Stakes (PoS) based blockchain system operation. With staking, users must lock their assets in a digital wallet to become a validator on the blockchain network and earn block rewards. The more assets that are locked, the greater the opportunity to profit through this staking system.
In Tokenomy Earn, you can take part in staking without worrying about high operational costs. You also don’t have to worry even if you don’t have knowledge of coding to be able to stake on Tokenomy Earn. Enjoy earning daily and weekly rewards when staking certain assets on Tokenomy with flexibility. The interest you earn can even reach 5% per year.
Interested? Don’t worry, staking on Tokenomy Earn is very easy. Simply register and verify your account, then deposit the assets you have selected and specify the amount to be staked. Once that is done, you just have to wait to earn the benefits. Good luck!