5 Ways to earn Bitcoin in 2021
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As a potential Bitcoin trader or investor, your first line of thoughts drift towards the ways you could earn Bitcoin in the year 2021?
Firstly, you must understand that Bitcoin is a cryptocurrency that seems to be leading in the market since the year 2009 because of its market financing and price.
The coin is unlike the paper money you know and since it’s a digital currency it works mainly with the Blockchain technology that shares public ledgers that records all transactions.
Here are ways to earn Bitcoin in 2021 that are pretty straightforward and attainable.
Means of payment
It will delight you to know that you can receive Bitcoin as a means of payment for a service or purchase of goods.
Payments can be made through hardware terminals, also QR codes as well as your wallet address.
Even if your business is internet-based you can still accept Bitcoin as payment for your services or products provided you inform your customers that you receive Bitcoin as a means of payment.
Ensure to list it alongside as ways your customers can make a payment just like they use credit cards and internet banking.
Using Bitcoin as a means of payment will also bring convenience to your trading.
NB: using it as a payment system will require you to use an exchange like Bitpay or Coinbase to accept the payments from your customers.
In Bitcoin mining, you use substantial computer systems to solve difficult mathematical equations. However, this method is originally the way Bitcoin was created.
It is simply the run to see who will resolve the block, as well as the fastest miner and the swiftest miner, gets the rewards.
You can convert your electricity into Bitcoin just the way some businesses or companies made it very easy to connect particular hardware and within 5 minutes you will commence the mining. Some companies like Coinmine have been able to provide such hardware for convenience.
NB: individuals are yet to have possession of these hardware asides from companies who created them and use them but eventually the hope is that you will be able to have it in your home.
Bounties and Airdrop
Just because a number of startups, projects are looking to hire advocates, influencers, quality control analysts even columnists to support their projects and are willing to exchange Bitcoins for these services provided.
In doing this, you must beware of promoting unacceptable content or unproductive startups.
However, this will be a time not well spent as well as a stain to your reputation.
NB: This method is an old way people in the crypto world earn and it has been for a while.
Cashback credit cards
Some company’s like BlockFi, intending to establish credit cards that have the feature of paying cashback rewards in Bitcoin instead of fiat currencies or other means of payment like Naira, Dollars, air miles, or points
Some companies that have started are: Coinseed, Metalpay, Nuo Network and Crypto.com
Trading cryptocurrency means simply taking dominance of Bitcoin’s unstable nature.
We already know HODLing (a word in crypto-world) is long-term trading, investment of cryptocurrencies like Bitcoin.
Although, this method is fast but requires constant practice and gathering of knowledge about the market.
There are three major trading styles in the crypto-world and they are:
This is fast and short trade suitable for daily transactions because traders that use this method earn small and fast pay.
This method does not require any overnight process
It requires you to analyze the market so as to see small and quick opportunities to make a profit.
With this trading style, you will have an accumulation of all profits made for the day.
- This trading style is in neither long-term nor short-term
- This method of trading involves buying low, waiting long to see the holdings increase in price, then sell high.
- The holding time is not usually as long as a HODLer neither is it short as a day trader.
- Instead of looking to trade in just any opportunity that will bring you profit you choose to find opportunities in the same exchange or traders who leverage on arbitrage to find across multiple platforms.
- It is simply buying from one exchange to sell to another at a higher price.
- However, this trading style is similar to the two listed above.
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