Are you on a hustle trying to find your way of making money using digital assets but stranded? Worry no more; this article will explain the possible means that you as an investor, trader or holder of Bitcoin can make either active or passive income at the comfort of your home especially in Nigeria.
Before revealing the reliable methods that can make you a millionaire over a short period, allow me explain the popular word Bitcoin. I am sure in one way or the other you must have heard Bitcoin being mention in either news, a friend or just through an advert.
Bitcoin is a cryptocurrency invented by a group of programmer called Satoshi Nakamoto in 2008, in simple words Biticoin is a decentralized, peer-to-peer digital currency built with security codes to allow creation of monetary value. To do away with doubts on its safety, it is good to know that Bitcoin is safe to because it is secured with cryptographic protocols which reduce the risks of double spending, frauds and mutability. The top 5 lucrative methods of making money with Bitcoin include
- Make Money from Bitcoin by Trading
This is the basic buying and selling of bitcoin with the aim of making a profit. Trading can be in short term or long term according to the time a trader holds onto a given position of trade. Long term traders hold the bought bitcoins for a longer time with an expectation of an increase in the value which will increase the profit margin. Short term traders hold the bitcoins for a shorter time and trade them when the value of the bitcoins rises according to seasonal swings.
- Make Money by exchange Bitcoin
Bitcoins are assets that can be exchanged for other cryptocurrencies on bitcoin market places. The market places act as intermediaries to ensure complete exchange of bitcoins. Various cryptocurrencies valued differently allow the trader make profits by carrying out the exchange.
- Make Money from Bitcoin through Affiliate programs
These are Bitcoin affiliate programs whereby an advertiser recruits webmasters who maintain the bitciom platforms for the business. The webmasters then refer interested parties to the business site by airing advertisements of the business. For each transaction carried out by traders on the online platform, a transaction fee is paid. The owner of the business then calculates commission and pays the webmaster according to the number of referrals made. More referrals earn more money.
- Make Money from mining Bitcoin
Mining Bitcoin involves verification of transactions and adding them to a public ledger known as a block chain. A block chain is a growing list of records linked using codes and contains transaction data of a previous block. The ledgers are then shared in a common network program for peers to solve the expectation of the next block presented in puzzles. The one who solves the puzzle first is awarded and a new block is created.
- Lending of bitcoins to traders.
Just as any other forms of currency, cryptocurrencies can be lent as loans and realize interest during payback. Larger amounts of loans earn more interest during collection while smaller amounts of loans earn little interest.
Those who choose to invest in cryptocurrency (Bitcoin) are certainly heading to a bright future. With the recent Bitcoin trading booms, soon government systems will fully adopt Bitcoin. However, this could be a gradual process with long term benefits to those that will embrace the technology. If you are a beginner to not do investment in heist because of risks, take time to study the make trends and opportunities to help in making wise investment decisions.