Now that Bitcoin continues to rise in value, more and more people are wondering how to earn money with this particular currency. Making money with Bitcoin is very easy at the moment, and there are possibilities for picking up. However, it is important that you know what you are doing and you do not work unnecessarily.
Below are three methods to earn money with Bitcoin. Of course, none of these ways offers warranty, but personally I have earned a nice salary with a combination of these 3.
TRADING
Bitcoins trades refer to the regular purchase and sale of Bitcoins. This can be weekly, daily or even per hour. It's about building a good feeling for the market and understanding how the market moves. Buying at a low point and selling at a peak is an incredibly fast way to earn a lot of money. Although a lot of money is available here, it is also the most risky way. When you make a wrong estimate, you can buy just before the market goes down, when your bitcoins thus decrease in value.
Tips for trading
Emotion
When trading, it is very important to ignore your emotion. Most people suffer from emotions, and that's exactly what you should not do. When the market is moving for some time, many people want to jump on board and buy bitcoins. However, the market is an ongoing up and down movement. Is the market going well? Then there is a chance that this will decrease again afterwards. Against the feeling of your emotion, it is often better to sell when it has risen sharply, and to buy properly when it has fallen sharply.
Protect yourself
Be sure to protect yourself when trading. Make sure you minimize risks and do not lose too much. When taking a short position make sure you set a stop loss so that the losses can not increase too high. You make a guaranteed loss at the time of the stop. But you prevent them from getting so high that you are in trouble.
How can I trade?
Trading can be on several good and reliable platforms. Personally, I am the most fan of Kraken, with many possibilities. You can go short, lung, stop loss, limit, etc. Take the time to get acquainted with the possibilities and do not jump in too quickly. Invest with small amounts to see if you've mastered it. When you make a regular profit, it's an idea to increase your investment. Another option was on
Bitcoin.de. This site may be better suited for beginners because the possibilities are limited. Cracking can initially be a bit intimidating.
A good site to track the Bitcoin / EUR value per second is:
Https://bitcoinwisdom.com/markets/kraken/btceur
LONG-TERM INVESTMENT
Is trading nothing for you? A long term investment can definitely be worthwhile. With a coin worth increasing, it's easy to earn money. If you bought Bitcoin a year ago, your investment has now doubled! That's a lot more than the 1% interest on your bank account.
The question then is how long and how high Bitcoin's value will be, but the overall consensus is that it will only increase in the long term. For a long-term investment, you buy a certain amount of bitcoins and just let them stand. If the market rises, your value also rises.
The moment of investing is important. Sometimes a weekly investment, for example, every Monday is a small amount. This prevents you from buying at a peak. Do you already have a better feel for the market? Then try the investment at a low point and let your Bitcoins increase in value. Who knows how much it's worth in a few years.
MINING
Now that Bitcoin's value is almost 1800 EUR / BTC, mining has become more interesting.
See here for more explanation about mining. Because mining as an individual can be complicated and costly, I usually recommend experimenting with Cloud mining. That way, you can invest an amount of investment in a company that was for you. Of course, there are some costs involved, but thanks to their experience and expertise they can often earn more than you could as an individual. Investing can already be from 10 euros and you can pay the bitcoins daily to a bill of your choice.
After testing several mining companies, my tip is to mining with
Genesis mining. I myself started a few months ago and have almost returned to my investment. Every bitcoin I earn from here is pure profit.
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