Best Methods to Profit with Bitcoin in 2017/2018

This article is meant for people who want to get started making money with bitcoin. You maybe living in a country that has governmental/economic issues like Venezuela, Nigeria, Bolivia, Russia, or North Korea. This resource can be helpful for those who want to make a living online due to small amount of job opportunities or live in a country with a failing fiat currency. These methods are not ranked in any particular order

It's a great idea to get started making an income with bitcoin because in the future, robots and artificial intelligence will make up a large percentage of the global workforce. You'll eventually start seeing country's transition to a new economy where people earn money doing everyday task such as working out to doing favors for their neighbors.

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Before You Get Started

If you are a beginner with bitcoin you will first need to get a "bitcoin wallet". A bitcoin wallet is a piece of software that allows you to store your bitcoin on your PC, Mac, or mobile device. Wallets come in many forms including paper, online, software, and hardware. The easiest bitcoin wallet to use for people new to bitcoin is coinbase. Coinbase is a online wallet that allows you to buy bitcoin with a credit or debit card . You can also easily cash out your coins for fiat money anytime you want to paypal or your bank account.

If you open an account with Coinbase today and deposit $100, they'll give us both $10 extra.

Just use this link: https://thecryptocurrency.guide/goto/coinbase

Generate Bitcoin From Playing Video Games:

I know what you're thinking but it's true! There are currently companies that are making videos games that will incorporate their own cryptocurrency that you can then trade for bitcoin! You'll be able to bet on matches, sell virtual items, and trade in-game currency for bitcoin.

A great example is a company called Dmarket, which is a digital marketplace where you can sell or trade in-game items for other items and cryptos including bitcoin. Imagine farming and completing quest for ingame loot and selling it for bitcoin. Depending how good you are you'll be able to make a living from playing video games.

Bitcoin Arbitrage: Buy Bitcoin for Cheap and Sell Bitcoin For a Higher Price

There are multiple services that allows you you to sell bitcoin. Some people are not able to purchase bitcoins with credit cards or debit cards so they must pay for them in cash. There are only a handful of trustworthy sites that you can use to buy and sell bitcoins on.

Bitcoin Lending: Loan Your Bitcoins

Bitcoin allows for lucrative opportunities for people to make money from lending it to people and services online. You can let people borrow your bitcoin and gain interest on your loans.

There are some scammy sites that say you get daily payouts on your investment and have multi level marketing referral systems that earn you bitcoin if you get others to invest in their program. I highly recommend you stay away from these programs. They may work for the time being, but there are not sustainable since the business depends on a constant supply of new investors to keep the system working. If people stop joining the program for any reason the site will shut down and run away with your money

Related Sites:
https://www.saltlending.com/

Bitcoin Investment: Buy and Hold Bitcoin

Year after year bitcoin has gained in value. It does often have price drops aka corrections. But that should not scare you. You should see this as a good thing. Bitcoin follows a pattern of surpassing its all time value and drops and value. This cycle repeats year after year.

** My best advice for people looking to get started investing in bitcoin ** is to wait until you see Bitcoin's price drop drastically. Buying it when the price is way lower than it used to be allows you to make more profit when bitcoin's price goes back up and beyond. I made a spreadsheet that helps you keep track of bitcoin's price along with other altcoin prices.

To get started investing in bitcoin, you'll need to get a bitcoin wallet. If you don't have one already, I provided a list of easy to use sites that help you get a secure bitcoin wallet.

Bitcoin Trading: Trade Bitcoin for Altcoins on Crypto Exchanges

Bitcoin is not the only cryptocurrency in the world. There are actually over 1000 at the time of writing this. Many people including me, invest in alternative bitcoins and wait for them to increase in value. Then I trade the coins back to bitcoin so I can cash it out for my native currency. It's like Forex but with virtual money.

This can be tough to do because it takes a lot of research and analysis to predict which coins are worth investing. Lucky for you I run a newsletter that notifies you of great opportunities around bitcoin and altcoins.

Go here to check it out: https://thecryptocurrency.guide/subscribe

Related Sites:
http://bittrex.com
https://www.bitfinex.com/
https://poloniex.com/
https://bitso.com/ (Mexico’s First Bitcoin Exchange)
http://gdax.com (coinbase exchange)

Sell Products and Services with Bitcoin as payment

Bitcoin allows for people to sell anything they want to anyone they want since it doesn't have to go through any banks or financial institutions who may prevent such activities. You could sell videos, guides, hand made goods, or digital products to virtually the whole world.

Related Sites:
https://satoshibox.com/ (Sell digital files for bitcoin)
http://openbazaar.com (Silk Road Alternative)

Mine Bitcoin: Earn Bitcoin From Mining

One of the first ways to generating income with bitcoin is mining it. This involves using a computer with a power GPU that can solve complex computer equations which validate transactions in the bitcoin network. You are incentivized with bitcoin for lending your computer power to the network.

This may not be a viable option for some since it takes a lot of electrical power and buying expensive computer parts to get started and has a big learning curve if you are not good with computers.

If you want to learn more about getting started with mining bitcoin, grab my free guide by going here: https://thecryptocurrency.guide/mining

Related Sites
https://whattomine.com/coins

Making Content: Get Paid in Bitcoin From Making Content

This method of earning bitcoin may be popular for most people because everyone has something they are good at and can share with the world. Bitcoin and other cryptocurrencies have allowed to make it dead simple for people to tip others for the content they create. If you are reading this, are already on a platform that does just that. People can educate, inform and entertain you in the form of written and video content.

If you consistently create content people enjoy, you'll eventually build a fanbase that will tip you on all your posts. If you build an audience big enough, you'll be able to make a living from making stuff you're passionate about whether it's traveling, food, cars, etc. Bitcoin will make it possible for people to make a decent living online in more ways imaginable.

Video: DTube: The Youtube Alternative

Gamble With Bitcoin: Bitcoin Casinos and Sports Betting

Gambling with cryptocurrencies including bitcoin will become very popular in the next few years and will be popular for a very long time. There are a ton of benefits of gambling online with bitcoin since blockchain technology allows for casinos games that are fair, transparent and have a lesser chance to be hacked compare to traditional online casinos.

Sites to Check Out:
https://trueflip.io
https://etheroll.com
https://pocketdice.io/
https://sportsbet.io/
https://edgeless.io

Bitcoin Freelancer: Jobs that pay in Bitcoin

Cryptocurrencies is a booming industry, there are a more and more jobs in demand everyday and you can get paid in bitcoin or ethereum. There are jobs sites for graduates looking to start their career called bitjobs

Sites to check out:
https://www.freelancer.com/jobs/bitcoin/
https://ethlance.com
https://www.cryptogrind.com
https://coinality.com/

Hopefully this helps you out. Again, please upvote this post below to show appreciation. Thanks!

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cryptogainer (55) · 7 years ago

very valuable contribution. For all those who want to start with bitcoin or cryptocurrencies this article is gold worth.

Thank you @cryptodeus ! Upvoted

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natalie1 (10) · 7 years ago

Good points in this blog. Nice to see I'm not the only one who thinks like this. The price of a coin should depend on the quality of the product, the team behind it, if proffesional investors believe in it, and a lot more facets. Does anyone know about: https://www.coincheckup.com The site that lets you check all there is to know about the team, product, communication transparency, advisors and investment statistics on every crypto.

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