Ever since the meteoric rise of Bitcoins, cryptocurrencies and blockchains have been dominating the mainstream media. Nearly every social site and community forum nowadays are awash with digital currency investors helping spread the gospel and BTC junkies eager to learn more. Buoyed by the reputation and the regulatory environment for trading in Bitcoins, Ethereum, Ripple, Litecoin and other cryptocurrencies, the situation is more like a gold rush.
But like all things, there is more than one way to look at it and make money from cryptocurrency. We don’t all have to be master of the stock market or have loads of cash to make money through Bitcoin; there are many ways you can do this
Buy and Hold
If you are risk-averse and would love to get a piece of the now-popular Bitcoin-like a gold rush, do try buying and holding them as you wait for the most opportune moment to sell. A few years ago, a Bitcoin was worth well, almost $1, and those who took the risk back then are undoubtedly smiling at the $4,000 cost right now. To buy and hold, you need Bitcoin wallets like Coinbase or Blockchain.info or even the safest ones like Trezor and sell them off later.
If you can’t marshal an adequate amount of cash to buy and hold, mining might be your other way of making money from digital currencies. To mine bitcoins, you’ll need some sophisticated machines devoted to solving accounting sums behind the cryptocurrency’s developer and verifying the accuracy of the public blockchain ledgers.
The reward is in Bitcoins, Ether or any other type of BTC. Smart individuals typically choose to work in pools commonly called mining pools, and you can be part of it as well. The most popular bitcoin mining pools are Antpool, BTCC, and Slushpool. Here’s a word of caution, however – mining bitcoins isn’t the easiest of all gigs ever, and the experience can ruin the mojo of a BTC amateur enthusiast.
Bitcoin Cloud Mining
Mining bitcoins isn’t entirely confined to the way above. Bitcoin cloud mining involves using a remote data center that has a shared processing power and none of the conventional, sophisticated mining software and hardware, bandwidth or electricity is used. At the moment, you can cloud-mine Bitcoins via HashFl, Genesis Mining, and Coin mining.me.
Doing Micro-tasks for Bitcoins
There are little doubt cryptocurrencies the future. As for now, you can easily make money from cryptocurrencies by doing simple microtasks such as watching promotional videos, testing apps and playing mobile games. If you would love to give it a shot, join the following platforms:
• Bitcoin Reward
Blogging, Vlogging, and Commenting
Cryptocurrencies are undeniably commanding a larger fellowship online, and you can be paid in bitcoins for Blogging, Vlogging or commenting on someone’s work. At Steemit, you can be paid in digital currency, pretty much like what BitLanders do. Another way of using your Blog to earn Bitcoins is by using one of the many PPC Bitcoin Ad networks – BitClix, CoinURL, and BitMedia.
If you can’t complete the simple microtasks, just be a Bitcoin faucet farmer. With your Bitcoin address, sign up with the many faucet websites and start accumulating a few cents worth of Bitcoins every time you play games, watch ads or complete any of the many tasks.
You can also make cash from cryptocurrencies by trading digital currencies for fiat currencies and vice versa. Localbitcoins.com can be your starting point if OTC is what’s on your mind. Another legitimate way of making money through cryptocurrencies is by gambling in online BTC casinos like Starcoin, Crypto Games, vDice, and BetKing. If you are righteous and gambling is against your morals, do consider a bitcoin peer-to-peer lending platform like Bitbond, BTCPOP, BTCJam, and BitLendingClub.