10 Ways To Make Money On Bitcoin In 2020
There are several ways to earn bitcoin online, some easier than others. We show you the best methods to make money with Bitcoin that work in 2020. These methods do not require investment, and you will surely find something that suits your skills.
The amount of money you can earn with Bitcoin will depend on two factors: the method you choose and the conditions of the cryptocurrency market.
It is completely possible to live from Bitcoin by implementing the ways to earn money that we show you below. Many people earn thousands of dollars a month by following these methods. Although it will take some time to reach this level, it is really possible.
Best of all: as the value of Bitcoin continues to increase (this trend is expected to continue for many years), your earnings will increase as well.
This is why it is important NEVER to invest more than you could afford to lose.
Best ways to make money with Bitcoin in 2020
If you trust the potential of this money technology, being a Holder is the most promising option to make money with Bitcoin, since your horizon will always be long term, forgetting about currency fluctuations.
A Holder is one who buys Bitcoin and forgets that he has it, betting on a strong revaluation in the medium / long term.
Tip: To hold or keep your money safe, I recommend you save it in a paper wallet or a hardware device like Trezor.
If you have knowledge of trading, either in the crypto market or on the stock market or Forex, you can take advantage of earning money in the short term, with the purchase/sale of BTC. Even if you dare, you can exchange Bitcoin for altcoins to earn money.
There are numerous exchanges to do cryptocurrency trading; personally, I recommend Binance, for its simplicity and ease of use.
Tip: Learn to use the trading platform of your choice well, since the speed of buying/selling cryptocurrencies can make a difference in the short term
Do you have some bitcoin left over, and you don’t know what to do? You can borrow BTC and get an interest rate in return, which in some cases can be more than interesting.
There are several companies that offer this type of service, being the best known and respected: Bitbond.
Tip: It is important to inform yourself well before you start lending money since it always carries risks. To understand the business, my recommendation is to start with a low amount. In the case of Bitbond, you can start at $ 5.
Bitcoin mining is a very complex business, and you need a lot of technical knowledge to do it on your own, from the necessary hardware cost of electricity, among many other factors.
If you decide to enter this world, my recommendation is that you do it in the cloud, with some trust pool. I don’t mention any since it’s a very personal decision.
Tip: At current levels of Bitcoin (US $ 8,500) it is not very profitable to invest in this sector. But if the price rose higher, it is a business to evaluate it seriously.
Mining, another alternative to make money with Bitcoin
Contracts for difference (CFD) are one of the most influential financial instruments of the moment, since they have a high trading volume, thanks to a large number of online brokers that allow Bitcoin to trade.
CFDs are instruments that replicate the value of an asset, such as Bitcoin. The main advantage is that CFDs are very liquid, and you can bet both up and down. Yes, it is possible to win if the BTC goes down.
Tip: Bitcoin CFDs should be used for short-term speculative investments, using reasonable financial leverage to minimize risk.
Another way to make money with Bitcoin is by using automatic trading robots, better known as bots. There are a lot of alternatives in this market.
The bots are programs that are responsible for implementing certain activities completely autonomously; that is, bots can evaluate a certain amount of data and execute an action according to the data collected.
Tip: It should be remembered that bots are programs made by humans that fulfil scheduled orders, to make purchase/sale automatically. You have to follow closely that the bot adapts to sudden market changes.
If you have a blog, social networks with many followers or any other online channel with traffic, you can earn Bitcoin by recommending products/services related to the crypto world.
One of the complete affiliate programs is that of the Exchange Binance, which allows you to earn up to 40% of the commissions generated by investors. It is paid in the native BNB Token, which you can then easily exchange for Bitcoin.
Tip: If you don’t have an account at Binance yet, you can get up in a minute, to start making money with Bitcoin, and do online trading.
Another way to make money with Bitcoin is through sports betting, although it depends on chance and has a high risk, it is possible to make money with the forecasts.
There are several bookmakers that accept Bitcoin, the best-known being 1xBit and Cloudbet.
Tip: Never forget that bets must be taken seriously, and should only be made with money that you can afford to lose. It’s the same as going to a physical casino; you always know how much back, but never how much you go out.
You can find a job that gets paid in Bitcoin, or you can charge your customers in Bitcoin for your services. More and more jobs are being paid with Bitcoin.
Tip: You can look for an independent job that you have, and that is paid with BTC, and Hold with it. That would be a true “bet” in the future.
Donations in cryptocurrencies have become “fashionable”, as they are very easy to make from anywhere in the world. If you have a blog, or a mass traffic medium, such as a social network with many followers, you can request donations.
Donations work very well, but remember to offer something in return, such as information of interest to your readers/followers. It can also be a useful contribution to society; you will know better than anyone else what you can do.
Tip: You can test donations by making a contribution to this content. Your help helps us to continue growing as an independent medium.
There are many ways to make money with Bitcoin and most allow you to earn passive income or make your money generate more money. It is completely