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Can You Make Good Money from Bitcoin?

14 February 2022 11:00, UTC

Many describe Bitcoin as virtual gold that promises considerable payouts to investors. Bitcoin has inspired several economic opportunities since its inception. Its stellar performance over the recent years has convinced investors of its unique potential to drive returns on investment, increasing its global adoption exponentially. However, some investors are still reluctant to invest in Bitcoin, citing its high volatility and regulatory concerns.

While regulatory pressures could hinder Bitcoin’s usage and growth, several governments still have not reached a consensus on regulating it. That means users can still transact Bitcoin without any external interference. On the other hand, volatility impacts price fluctuations, enabling traders to generate profits from buying and selling Bitcoin. So, how can you make good money from Bitcoin? Here’s how to make good returns from Bitcoin.

Buy and Hold Bitcoin

Buying and holding this virtual currency is among the most common crypto trading strategies that can allow you to make good money without putting in too much effort. Unlike most trading techniques, the buy-and-hold style is straightforward and beginner-friendly. It mainly entails purchasing and holding Bitcoin over an extended period.

The buy-and-hold strategy offers better prospects of substantial profits because of Bitcoin’s projected growth. You could hold the purchased Bitcoin for several weeks, months, or years, hoping to make huge returns when the prices skyrocket in the future. Traders can acquire lump sum Bitcoin holdings at once or use the Dollar Cost Averaging approach, investing small amounts of money over time.

Buying and holding crypto is easy to make money from Bitcoin but only ideal for long-term investors.

Lend Bitcoin for Interest

Bitcoin can be a great way to preserve wealth without engaging in too many investments. Lending your Bitcoin to other businesses and individuals is the best bet for those who want to make good money without engaging in crypto trading. Several crypto exchanges now allow businesses and individuals to lend their Bitcoin to other users for interest. Although the terms may vary across crypto exchanges, crypto lending could enable you to gain interest on the funds weekly, monthly, or annually.

Crypto lending works similarly to a savings account where you keep your money but offers more opportunities for making extra cash. The service is currently available on platforms such as bitiq.org.

Join Affiliate Marketing Programs

Affiliate marketing is an easy and risk-free way to make good money from Bitcoin. Unlike trading and other crypto investments that require you to buy Bitcoin, affiliate marketing enables you to earn Bitcoin without any investment. Today, many companies use affiliate marketing to attract new customers to their online platforms.

Affiliate marketers receive incentives in Bitcoin for inviting their friends, family, and colleagues to the platforms offering those programs. Affiliate marketing mainly requires basic online promotional skills, and you can even do it from your smartphone. However, you should find websites offering reliable affiliate marketing programs with better payouts.

Leverage Bitcoin Faucets

Thanks to Bitcoin faucets, you can now easily earn a decent amount of money by watching ads and completing surveys online. They are reward systems that offer small amounts of Bitcoin for completing minor online tasks such as watching adverts and answering surveys. Some also come in mini-games or product trials that you can engage in to earn Bitcoin. Like affiliate marketing programs, Bitcoin faucets also enable you to make good returns without initial investment.

Overall, various ways exist for making good money from Bitcoin. However, the above strategies are the most effective for generating better returns, with fewer risks.