Is it true that you can get money with Bitcoin? Some beginners whether it is a good idea to invest in cryptocurrency. In fact, since its appearance a decade ago, Bitcoin is still the largest cryptocurrency in the world. Meanwhile, the value of Bitcoin has tended to fluctuate recently. Certainly, cryptocurrency can be a way to make money. Well, now, the next question is how to make money in cryptocurrency?
For those who have technical skills in mining and luxury computers with superior computing power, it can be a profitable option. Generally, Bitcoin miners could make huge profits in the early days of the crypto revolution.
Unfortunately, mining Bitcoin is no longer as profitable as it used to be. Your mining results can barely compensate for the electricity bill when mining. But, you still have a chance to earn money from it.
Nowadays, there are cloud-based mining services that allow you to pay only once. A cloud-based mining service will arrange mining equipment leases for other miners so they can mine for you. Don’t worry anymore about electricity costs, stability, and security when mining.
Just invest once, and you will continue to receive a share of the proceeds from your mining. But before choosing a cloud mining service, don’t forget to verify the credibility of the company you want to join. Otherwise, you may get scammed and lose your money.
Investing in Bitcoin means holding onto BTC until the best time comes. HODL (Hold On for Dear Life) is a term in crypto exchanges for long-term investments. Suppose you think that cryptocurrency has a positive future and believe in its price hikes, you should choose to invest. However, when investing in HODL, you shouldn’t expect too high.
Are there any other options besides investing by buying Bitcoin and selling it back? Well, you may earn a profit from recommended cryptocurrency by investing in companies, startups, blockchain development, and much more. Indeed, the business field above is a type of investment that requires a lot of research. Because, you have to measure the potential of a startup by analyzing white papers, expert opinions, market demand, and various other things.
Trading or buying and selling Bitcoin for financial gain is one of the most popular ways. If you have skills in analyzing trading charts and are ready to take risks, this option is for you. You can exchange your rupiah for Bitcoin (BTC). Once you see a price jump, sell your BTC and enjoy the benefits.
Bitcoin trading is available whenever you want. You can access and trade 24 hours a week, so you can trade however you like (especially when profits are high).
Regarding convenience, you can easily access the crypto trading platform which is available for Android and iOS devices. You no longer need to bother using a computer or laptop, because all of the exchange’s features are within your control.
For those of you who are not ready for the risks with a large potential profit, you can try intraday trading or day trading and arbitrage. Arbitrage means buying the same asset at a lower price and selling it on another platform for a profit.