Over the past five years, cryptocurrencies have been the talk of the town, and blockchain technology has begun to reshape the world. A decade ago, digital forms of money, with Bitcoin at the front, were darlings of the deep web. Yet, today, they are as mainstream as it gets. According to a Blockchain Capital Blog, in April 2019, 89% of Americans had heard of the world’s first cryptocurrency. That represented an annual increase of 12%, with individuals between the ages of eighteen and thirty-four boasting the highest awareness rate.
As of 2021, 106 million people worldwide have utilized cryptos, with 46 million Americans stating that they own a share of Bitcoin, which per data from CoinGecko, accounts for 44% of the total crypto market value. At the time of writing, Satoshi Nakamoto’s groundbreaking invention had a market cap of $898.74 billion, making it the most popular virtual currency on the planet, causing us to inform you how you can profit from it.
1. Holding Bitcoin
Holding refers to denoting a long-term approach to Bitcoin investing. But, many veteran investors believe that the high liquidity associated with this digital money form also makes it a terrific opportunity for those looking to snag short-term profits. Likely, Bitcoin is the most liquid investment asset worldwide. It is easy to trade and is immune to inflation. Its volatility is its prime disadvantage, but its super-fast adoption is an assuring sign to most that cryptos, in general, are here to stay. They are assets that should get held for the time being.
2. Lending Bitcoin
Bitcoin lending is a bridge between crypto investors and borrowers. A cryptocurrency-backed loan, similar to securities-based loans, uses digital currency as collateral. Multiple crypto lending platforms exist, offering attractive annual interest rates. Some of the more notable ones are Aqru, BlockFi, Nexo, Crypto.com, and YouHodler. Each has its variety of negatives and positives. At some, the interest rates can reach 14%.
3. Day Trading
Undoubtedly, day trading is one of the most lucrative methods to profit from the crypto market. It involves entering and exiting a position on the same day. Some also call this intraday trading. The aim here is to attain small profits and some minor market fluctuations. However, it is not mere guesswork or a luck-based activity. Day trading requires technical analysis and a quality understanding of market fundamentals.
4. Perform Microtasks
Here is an older approach to earning Bitcoins, available through apps like Earn, BitForTip, and Bituro. There is no philosophy to this popular Bitcoin-earning mechanism, as it simply entails users completing easy jobs for a small fee. The tasks at hand can range from watching videos to conducting surveys.
5. Claim Bitcoin Casino Bonuses
Crypto gambling is all the rage nowadays. Renowned hip-hop artist Drake is only one celebrity that is heavily promoting the practice on social media. Know that the main appeal of bitcoin deposit casinos is the bonuses these platforms supply. Most feature enticing sign-up promos that match a gambler’s deposited funds using a specific percentage up to a distinct amount. Naturally, they are not stipulation free, as they come with various criteria, such as wagering requirements and deadlines that must get completed for anyone to yield these promotions’ benefits.
6. Take Advantage of Faucets
Like micro-tasks, faucets reward Bitcoin users for completing tasks on a website or platform. However, these jobs are not labor-intensive. They are rudimentary chores that produce little rewards. The idea behind the faucet concept lies in them introducing newbies to the crypto sphere with digital assets.
7. Bitcoin Mining
Mining is an integral aspect of any blockchain. Bitcoin miners help keep the network secure, validate transactions, and keep everything moving. For their troubles and wasted CPU power, these individuals/groups get coin rewards, technically known as block ones. Unfortunately, the Bitcoin blockchain has grown so exponentially that the average miner requires loads of CPU power to get a decent ROI.
8. Cloud Mining
If you do not want to go for the big bucks/coins and get the powerful machine/s needed for Bitcoin mining. That is software that will let you mine through contracts signed with cloud mining companies. HashShiny was one such tremendously popular option.
9. Buy Virtual Real Estate
Virtual shared spaces known as metaverse are one of the hottest trends going. And everyone and their mother is investing in land in worlds such as Decentraland and the Sandbox. The process requires buying these metaverse’s native tokens with Bitcoin and then purchasing parcels of maps on digital marketplaces as NFTs.
10. Earn Bitcoin cashback
The BlockFi Rewards Visa® Signature Credit Card has this option, as do others, allowing cardholders to get a shopping rebate of up to 3.5%
This article was written in collaboration with legit iGaming analysts.