HOW TO MAKE MONEY WITH BITCOIN - A Simple Explanation
Twitter When people think of making money off of cryptocurrency like Bitcoin, they often imagine trading. There is a lot of money to be made from buying and selling cryptocurrency, but not everybody likes to risk their money this way.
Can you make money from Bitcoin without investing? The answer isyes, there are several ways.
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You simply need to think outside of the box a little and get creative. In this article, we will look at a few ways this is possible without needing to deal with the volatility of cryptocurrency.
If you know enough about blockchain technology or Bitcoin then you can write about it and become an affiliate. The way an affiliate site works is that you promote a product or service, in this case Bitcoin for example. When somebody uses your link to purchase, you get a nice commission from it if it happens within a certain amount of time.
It is a saturated topic, so you will need to find lesser known aspects of the blockchain or some new coins to write about that have less competition. If you are persistent and patient then you can make good money.
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It can take over a year to see any success, though so patience is key. If you are a good coder looking for a challenge, or a beginner looking to learn, there are a number of ways to go to create an app for crypto users. You can go very basic and create an app that will find the nearest ATM for Bitcoin, for example.
When people travel and want to use their Bitcoin they like having a place where they can access local currency with it. Create an app with a map that will give directions to the nearest ATM or merchant who accepts Bitcoin.
But, you can accept Bitcoin as a tip or for payments and grow your wallet without needing to buy and sell coins. Instead of getting paid in regular money, you can also accept Bitcoin or other cryptocurrency. That way you can potentially see your earnings increase passively as their value rises.
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Of course, you can also see your work diminish as the value can dip too. Understand that there is a risk when you hold onto Bitcoin as it can be volatilebut it has been rising steadily over the years.