5 best Ways to Make Money with Bitcoin 2018

1 Investing (buying & holding) aka HODL

This one is actually pretty easy to understand and about as straightforward as it gets (though it can be really stressful and quite hard to force yourself to do at times — an internal battle ensues).

You buy bitcoin and hold it for an undetermined amount of time while waiting for the price to go up until you are ready to sell at a profit.

This is a very passive way to make money from bitcoins. It’s also currently one of the hottest strategies out there and a big reason why many people are looking for information on how to make money with bitcoin in the first place. The stories you hear of people seemingly becoming a bitcoin millionaire overnight were likely using this strategy (though the chances of that happening are becoming far less probable these days unless you have a lot of capital to begin with).

HODL has come to mean “Hold On for Dear Life” in the crypto world. It was originally a misspelling of the word HOLDING from someone on a forum several years ago talking about holding onto their Bitcoin. People in the forum ran with it and it wasn’t long before it had a meaning of its own. Now people in the BTC space and all sorts of other digital currencies use it as a way to say; Hold On for Dear Life! (which is essentially what this section of the post is about)

The obvious risk here is that the price tanks and never recovers, thus leaving you with a loss. The upside here is that the price continues to climb and you end up selling for a huge profit at some point in the future.

Now, you never know what is going to happen, so there’s always a risk with investing in anything.

However, the overall bitcoin price has been trending upward for a very long time, and doesn’t seem to be showing any signs of major long term drops any time soon. Yes, it certainly has had its ups and downs, but the year-over-year price has continued to rise.

For example; If you had bought just $100 worth of bitcoin back around the beginning of 2011 and held onto it until now, it would be worth somewhere in the vicinity of $3,000,000 (Yes, that is 3 MILLION USD) at the time of writing this! Can you even imagine turning $100 into $3,000,000 by doing nothing other than waiting around for a handful of years? Wow!

Buy and hold can be a great strategy for making money long term with Bitcoin (assuming the price continues primarily rising over time as it mostly has). However, a big issue with buying and holding is that, even though you are technically earning money, you can’t spend it. As soon as you cash out, you no longer own it, so you have to buy more at a higher price if you want to continue investing. But that won’t really matter if you have already made a huge profit and are content with the amount.

The simplest way for you to buy bitcoin right now — and the way most beginners get started investing — is through CoinBase. Or another popular option is LocalBitcoins where you can buy and sell bitcoins near you and often times get them at a better price than you can elsewhere

2 Faucets

If you are looking for ideas on how to earn bitcoins then this one will surely interest you! Basically bitcoin faucets are websites/apps that gives free bitcoins to their users for visiting their pages in order to earn ad revenue. What happens is these sites make money from ads placed on their pages, so they will pay out a small amount of the revenue to you in exchange for visits. So, if you don’t mind looking at some ads, you can visit these faucet websites, and earn bitcoins for free.

To get started, all you really need to do is sign up to some of these sites with your bitcoin address and you can start earning (a very small amount of) bitcoins each day.

Yes, this is probably one of the slowest and most tedious ways to earn bitcoin, but it is free, and allows anyone new to bitcoin to get into it without risking any of their own money. You could also set up your own faucet, which would earn you more bitcoin (and money) but would come with its own downfalls, and would obviously be much more difficult to do in the beginning.

One of the most well-known faucets is BTCclicks — If you are wanting to make money with a bitcoin faucet, or test the waters and see if you really can earn free bitcoins from faucets, that’s where I would recommend starting.

3 Mining

eople will often search for “how to make bitcoins” when they’ve heard there is a way but aren’t exactly sure what they are trying to find. Really, what they are looking for (whether they know it or not) is bitcoin mining information.

This is probably the oldest and most well-known way to earn Bitcoin. It’s also probably the most appealing method for how to earn bitcoins to the newbies who don’t know any better, yet. Once upon a time this was undoubtedly the best way to get bitcoins as it was relatively easy, fast, cheap, and low-risk. By mining for Bitcoins, you can essentially make money for nothing, and a LOT of people have done exactly that. However, it’s not quite so simple these days! As with anything that has huge opportunities to cash in associated with it, things get a lot harder as time goes on and more people catch-on, and bitcoin mining is one such thing.

It wasn’t all that long ago when you could use your own home computer to mine bitcoins, but the algorithms have become far more complex over time, and so many more people are into mining that it has become exponentially more difficult. Doing it this way isn’t really an option anymore, so it’s not worth trying. There is a finite amount of bitcoins available so the difficulty of mining increases as more miners come into play.

So, is bitcoin mining still possible?

Yes, it is, but nowadays you are going to need a Bitcoin Minerbitcoin mining rig specifically built for this purpose and a great power supply if you are going to do it on your own. You will also likely need to join up with a mining pool, which is basically a group of miners that have come together in order to mine more efficiently by combining their efforts, then they split the rewards accordingly. One such example would be; SlushPool.

Although joining a mining pool is not absolutely necessary, it is strongly advised, because doing it on your own is almost impossible now. The large scale operations are just too difficult to compete with otherwise.

There are a ton of articles out there telling you how to get started bitcoin mining but I would be VERY cautious before taking any of that advice. Most of that information is years old and no longer relevant. I advise you to make sure the information is new, and even then I suggest you perform your due diligence on it.

Now, I know there are a lot of you reading this right now that are still wondering… How much money can I make bitcoin mining? To that, I would say, it’s impossible to know. That is one of those questions that doesn’t have a definitive answer. I wish I could tell you but I simply do not know, and neither does anyone else. That’s comparable to asking; how long is a piece of string? One simply cannot tell you because the answers are infinite

4 Build a Bitcoin Website

This is absolutely one of the most underrated opportunities for making money with Bitcoin, and is highly ranked among my personal favorites!

You could start a Bitcoin blog or crypto information site that will explain the basics of Bitcoin (or other cryptocurrencies) to newbies and/or keep the general public up-to-date with all the important things going on with the cryptocurrency at any given time. Give tips, advice, resources, news and other types of info that is useful to people. Basically, you become a go to resource for bitcoin and other digital currencies.

Your website can earn money in a number of ways, which includes:

– Promoting bitcoin affiliate programs
– Sponsored posts
– Offering advertising spots for sale
– Adsense
– Selling your own info product (see #9 below)
– Building an email list
– And other monetization methods (there’s plenty of them)

All you really need to get started is a domain name and web hosting. After that it’s just a matter of content creation and marketing.

You can even take this further and start doing videos and/or podcasts, build a Facebook group, etc… There’s a ton of ways to build up a community/following, get your content out to the world, and use that to help you gain even more cryptocurrency and ultimately money!

Yes, it definitely takes a decent amount of time, hard work, and probably even some money to build up a successful business/website of this kind, but it can yield an incredible ROI in the long run, and continue to earn money for years to come. You could even sell it later for a huge profit. I truly think if you are looking for a solid business idea on how to make money with cryptocurrency then this should be considered

5 Trading

You can earn bitcoins through trading, and it can be a great way for you to make money with bitcoin. However, I personally wouldn’t recommend engaging in Bitcoin trading if you are a total newbie to crytpo-currencies. This tends to be better for those who are experienced in general financial trading and/or have enough money that you are willing to risk (read:lose) without it affecting your life. That’s not to say beginners can’t be successful at bitcoin trading, it’s entirely possible, it’s just not what I would suggest as a starting point. I’d at least get my feet wet before jumping into it. Okay, now that I’ve said that, let’s get on with it…

When it comes to trading bitcoin as a business model, there are plenty of different strategies to use, but the basic plan is typically to buy low then wait for the price to increase so you can sell it a higher price to earn a profit. It sounds so simple, but it’s not as easy as you think. You must understand market trends, know price dynamics, and follow digital currency news if you want to make successful bitcoin trades. You also need to be quick as price can fluctuate very rapidly.

You can also do bitcoin trading through arbitrage, which is probably the safest way I know of to make money from bitcoin trading at the time of writing this post. What arbitrage generally means is you see an opportunity to buy an asset in one place for a certain price, and sell it instantly at another place at a higher price. It’s very important that you know for sure that you will be able to sell the asset right away at a higher price than you bought it for. This is why knowledge and experience are necessary for this option.

If you want to get into Bitcoin arbitrage trading, you will need to be able to get bitcoins nearly instantly, so when you find an opportunity you can act on it immediately. You can earn bitcoins from arbitrage and it can be quite profitable, but you definitely need to be very cautious if you aren’t highly experienced in this area.

Another great way to make money trading bitcoins is to buy altcoins or invest into ICO’s that seem to have a promising future. Then, once the coin takes off (assuming it does) you sell them for Bitcoin at a profit. I was personally able to turn a $1,000 investment into nearly $5,000 recently – in less than one month – by doing exactly this!

This can actually be a great strategy on how to make money with cryptocurrency in general. However, once again, I do caution this if you don’t have much experience in the digital currency world overall, or at least have a good mentor to get advice from on which coins to buy, and even then it’s risky