Step Into Bitcoin

(15 proven ways of making money from Bitcoin)

Richard Ubasinachi Ezeala

Copywrite 2019|Richard Ubasinachi

All rights reserved.

Table of Content.

1.     Table of content ………………………………… ……………… 2

2.     Abstract ………………………………………… ………………. 3

3.     First note ………………………………………… ……………… 4

4.     15 ways to make money from bitcoin ……………… ………… 5

5.     More tips ……………………………………………………….... 21

6.     Disclaimer ……………………………………………………….. 22

7.     Author’s info …………………………………………………….. 23

ABSTRACT

Anything that is worth doing is worth doing well. Money making is one of the things that are worth doing, so making money well is a great deal. Unfortunately, money making is so difficult for some, and fortunately not that difficult for others. The truth is, nothing good comes easy. Living in poverty is hard, making good money to live wealthy is hard too. So you have to choose your hard. However, while money making is not difficult, having the right recourse can help you and even make your journey easy. This book is one of the resources that will make your MONEY MAKING journey easy and faster. In it is found the 15 proven ways to make money from bitcoin.

First note

It is important that you understand the concept of bitcoin before starting to read this book so as to get a clear picture of the system and for easy flow while reading. So I will start here by explaining the concept of bitcoin before we go into business.

Let me start with familiarizing you with the word Cryptocurrecy. Cryptocurrency is an electronic currency, in other words it is an internet-base medium of exchange which uses cryptographic functions to conduct financial transactions. The most important feature of cryptocurrency is that it is not controlled by any central authority.

Many people uses crytocurrency for many purposes, it can be used to buy sale and goods, make payments or receive payments. However, a lot of people have taken advantage of the technology and using it for more interesting purpose, that is MONEY MARKING and that is what we are here to discus.

Bitcoin is one of the Currencies in crytocurrency Just as Dollar is a currency in the paper money.

15 ways of making money from Bitcoin

I know you are excited that you are about to pack all the knowledge that will enable you to either start making a living, or adding to the one you already have. It is no longer news that bitcoin is a sure way of making legitimate money, but knowing how to do it is another thing and that is where I come in.

In this book, we are going to see the 15 proven ways of making money via bitcoin. Without further ado, let's get into business.

1. Mining bitcoin

Picture of a programmer mining bitcoin

Yes you can mine bitcoin but No, you don’t have to raise the ground to get bitcoin. Not in that sense anyway.

So, why do you call it mining? Similar to gold miners, bitcoin miners have to bring out the gold, in this case, bitcoin into the surface.

Did you dare to ask how? While paper money has a government, who prints and distributes it, Bitcoin has miners who use special software to solve math problems and are issued with bitcoins in exchange. This system is what makes the Bitcoin network go round.

Mining Bitcoin used to be relatively simple, and the earliest miners were able to mine thousands of Bitcoin using their home computers. However, in today’s very competitive and volatile market, miners buy expensive computer parts that the high street customer has little access to, required for more processing power in order to mine more difficult algorithms. Since this is a race of who can solve blocks faster, miners team up in what we call mining pools where they combine their processing power in order to solve each transaction first. The reward mostly comes from several miners’ fees, which is then split up by members of the pool.

Picture of an industrial mining pool

Remember that bitcoin mining is not as profitable as it used to and many are claiming it to be the end of profitable mining.

The future of mining in 2019 will depend on the price of Bitcoin. If the price goes up, mining will continue to evolve and the number of miners will increase. If the price goes down, miners will gradually disappear.

— an excerpt from 2miners’ blog

It presents new miners with new challenges and also unique opportunities to come into the market when everyone else is leaving and then the price of bitcoin will go up. It all depends on your ability to analyze the market and correctly predict future changes.

2. Bitcoin Faucets

If you don’t mind looking at a few ads and answering surveys, you can visit a bitcoin faucet website. Generally, these websites generate revenue from advertisements placed on their pages. Those who visit their site and answer short questions or captchas will be paid from the small portion of their revenue. You can readily check one of the most popular faucet sites here: earn.com

3. Pay To Click (PTC) Websites

Recently, paid-to-click websites have gone up greatly in popularity. These websites, which can be used to earn Bitcoin, are usually much more profitable than faucets, and are a great way for website owners to get more visitors. But what are paid-to-click websites?

On PTC (paid-to-click) websites, users click on links to websites, which are to be visited for a short amount of time (usually around 10 seconds). After the time is over, users earn small amounts of Bitcoin. The websites are not likely to make you any Rich, but they are great to fetch you some good money.

Here is a list of some of the best paid-to-click Bitcoin sites out there.

i. CoinAd

Coinad.com is one of the most popular PTC sites where users earn Bitcoin for visiting websites for varying periods of time. The rates vary a lot, ranging from about 900 satoshi for a 30-second visit, to 1 satoshi for a 10-second visit.

They might need to update their standards for uploading ads. CoinAd is a pretty good website.

ii. BTCClicks

Btcclicks.com is an average, ideal PTC website, with payouts averaging around 100 satoshi per 10 second visit. This website is very all-around average, and features instant, small payouts to Xapo wallets as well as normal payouts. This website is good for beginning Bitcoiner to earn a few coins.

iii. Earn Free Bitcoins

Earnfreebitcoins.com is a great PTC website, paying from around 20 satoshi to 1000 satoshi per 1-5 minute visit. The websites have large, rewarding payouts, but also larger wait times than other PTCs.

iv. Bitsurf

Bitsurf.co is a new website where users earn credits for the websites they visit. The credits earned are then exchanged for Bitcoin, currently at 50 satoshi/credit. The amounts paid are fairly large, averaging about 350 satoshi worth of credits per visit. However, the rate at which these credits exchange for may change in the future, and the websites listed are few. This website is still very new, though, and I expect the offers to go up in number soon.

Bitsurf looks to be one of the most profitable paid-to-click sites, if it can get up and running.

v. BitVisitor

Bitvisitor.com, one of the oldest PTCs still in existence, is a website with some of the highest payouts, at 1000 to 2000 satoshi per visit! However, the websites must be viewed for 5 minutes each, so it doesn’t have the best rates. If you have time and have something to do while you wait, Bitvisitor will earn you the most money in no time.

There are several websites that will pay you in bitcoins if you watch an ad or click to a certain page containing ads. If you are ad immune and want to make quick crypto buck–this can be a good idea. Bear in mind, to make any significant money is still very hard work and a rather tedious task. BTC4ADS pays around 100 satoshis (0.00000100 ฿) and

Coinadder pays around 25 satoshis per click.

4. Doing Micro Jobs

Much like Microworkers and Cloudfactory, which pay you a small fee to complete very simple tasks like watching a YouTube video or completing someone’s survey, there are several micro working sites that will pay you in bitcoin. Bitcoinget is the major player in this market which will pay you around 20,000 satoshis per task while there are several others like Cointasker that will pay you a slightly lower sum. So you can go signup now and start making money with these sites.

5. Writing about Bitcoins

Cryptocurrency in general is a new niche and there is a scarcity of writers who genuinely know this niche. This means the market is flooded with newbie copywriters who simply rehash the content that contributes to the deterioration of quality. However, if you really know this niche and you have decent writing skills, you can actually make money.

You can start writing books around bitcoin and sale them to people who need more information about bitcoin. Since not everyone knows about bitcoin yet, writing about will always pay.

Apart from writing books, you can choose to write for websites while they pay you. There are several websites that will pay you for writing about bitcoin. I will list out seven of them here so you can apply if you are interested in writing.

a)     Bitcoin.com.

b)    Cryptosource.

c)     CryptoCoinNews.

d)    DeepDotWeb.

e)     Blockchain Aliens.

f)      Buxlister.

g)     CryptoKhaled.

6. Gambling Bitcoins

Though it’s not advisable to anyone, if you are self aware enough, the bitcoin gambling market can still be a good source of income. Just like any form of gambling, the people in general always lose and the casinos always win but since bitcoin gambling is a very little heard of term, you can get huge bonus for joining or even several rounds of your stake to start with. Sites like Bitstarz and mbit are major players in the Crypto gambling business.

7. Binary Trading with Bitcoins

Binary tradings have existed in financial world for a very long time and did not take long enough to make a journey for that financial scheme to migrate to crypto world. Binary–as the name suggests has just two options, a trader purchases an option and at the expiration time, the trader either is “in the money” or “out of the money”. In its true essence, it’s not too much further from gambling or Russian roulette.

All you have to do is make an investment on an option. Say there are two options to invest– for the bitcoin price of $3000 now (at 10 AM), you can either invest in the price will be more than $3000 by 6 PM or the price will be less than $3000 by 6 PM. If at 5 PM the bitcoin is indeed higher than $3000, you earn the payout of certain payout percentage of your investment, if it’s lower, you lose your investment. Another option is to “put” if you think the price of BTC will go down. If the price at the expiration time is lower than the original price, you earn the option’s payout.

This YouTuber explains binary trading with real time trading guide:

https://www.youtube.com/watch?v=cafuZvo-zKg

Remember its plain gambling and nothing to do with intricacies of bitcoin or other cryptos in any way. Nonetheless, its still a way to make money with bitcoin though its highly inadvisable.

8. Make money with Bitcoin Affiliates

Affiliate marketing works when you generate sales leads for a product or a service and the organization offering a product or service pays you certain commission for bringing in potential consumers who would otherwise not have been interested.

Usually, these 3 steps allow you to set up your own affiliate business for passive income:

1. Sign up for the affiliate program as an affiliate marketer.

2. When you are accepted as a marketer, you will receive a unique URL that has a link to their product or service but also has a unique identifier which means they keep a record of who sent them there.

3. You then share that link on any web or social media platform (Website, Facebook, Twitter etc. ) When someone comes to visit the website through your link and makes a purchase, you get a certain percentage as your affiliate fee.

Paxful also have an amazing affiliate program where you get paid 50% of the bitcoin escrow fee from your direct affiliate and 10% of the escrow fee from the affiliates made by your affiliates.

Join Paxful’s bitcoin affiliate program.

9. Running a signature campaign in Bitcoin Talk forum

Bitcointalk is one of the oldest bitcoin forum set up by Satoshi Nakamoto himself, the supposed founder of Bitcoin. This is probably the most popular forum in crypto sphere and used by millions of people. If you are an avid follower of the forum and you have racked up some authority from consistent posting, then your posts of bitcointalk will have a sponsored signature and you’ll get paid by sponsors for every post you make on the forum.

According to Steemit, you can easily make a bit of coin doing simple forum posting – for example a full member can earn 0.0003 btc per post. Signing up is easy, visit www.bitcointalk.com

10. Being a masternode

Masternode is simply a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain in real-time, just like you have full nodes and its always up and running. But they are different because they perform several other functions apart from just keeping the full blockchain and relaying blocks/transactions as a full node does in bitcoin/litcoin. Bitcoin is usually used as an umbrella term for all the cryptocurrencies and though experts would say the return for being a bitcoin master node is not all that profitable, you can still serve as a master node for several other cryptocurrencies and get a reward for your service to the blockchain. Masternode is a dedicated node that keeps track of blockchain in real time. Much like bitcoin full nodes, they are always up and running.

In addition to saving, validating and announcing valid transactions to other nodes, masternodes also perform other tasks with the blockchain including ensuring smooth protocol operations, governing voting events etc Next to validating, saving and broadcasting transactions, master nodes sometimes also facilitate other events on the blockchain dependent on their nature, such as governing voting events etc. For their dedicated service, they are heavily incentivized. It typically depends on the type of cryptocurrency but Dash, PIVX, Blocknet, Stakenet and Zcoin are the 5 major coins that have the best incentives for a masternode .

11. Accepting Bitcoin as a means of payment

Bitcoin is, after all, a digital currency. So why not sell goods or services in exchange for bitcoins. This gives you the freedom to sell anything to anyone without going through any banks or financial institutions that may prevent you to do so. If you are already selling, why not accept bitcoin as payment.

12. Lending bitcoins

The decentralized nature of bitcoin and other cryptocurrencies make it simpler to make transactions without needing authorities to validate it. In such case, you can also loan bitcoins to potential loanees at a certain interest rates. It is also a very good alternative to “hodling” as you are actually making use of the wealth rather than keep it unmoved and its better for economy in general. Several lend-and-borrow platforms like Unchained Capital, Bitbond and BTCpop allow you to lend your bitcoins for interest rate up to 15%. To get started, you need to create a bitcoin wallet, buy bitcoin and then lend it out.

Bear in mind that this is still a new market and there are hustlers who may try to cheat you. Always choose trustworthy platforms and loanees while making your investments. The platforms I mentioned are good enough to start with.

13. Help others, get tipped in bitcoin

You can also get tipped in bitcoin by helping other people. One of the most notable platforms to do so is bitfortip, which tips bitcoins as an incentive for helping people. Bitcoin is a new technology and there are people who are genuinely passionate about it and excited about what is to follow so incentives like this helps to build a positive vibe around the community and also help people solve their problems.

14. Buying and Holding

This system can be very profitable if you buy at the right time and also know the right time to sale. Start with creating a wallet. Buy bitcoin either from a company or individual. Keep your coin safe and wait for the right time to sale. Investing in Bitcoin is a waiting game of its value to rise. This lets you decide when is a good time to buy or sell. There are several factors that contribute to how bitcoin is valued and you never know what will trigger the next bear market.

“Hodl”, a term the Bitcoin community uses whenever they are holding their coin with the belief their coin will be profitable one day. The slang word earned the backronym “Hold On for Dear Life” in the cryptocurrency space.

Note that this method can be tricky so don’t just take advice from anyone you see. Go to experts, research and learn about Bitcoin and come up to your own conclusion.

If this is the part you choose to follow, you would like to take signup with either blockchain, coinbase, luno, or Remitano. I will recommend remitano because it’s an escrow platform which means that your coins and money are guaranteed safety during any transaction. But you need to have a valid ID card or passport in order to get verified to be able to trade with remitano. This is to ensure that members are legitimate and in the case of any misbehavior by any member, such a person can easily be tracked. Remitano also provides you to meet your fellow traders who are ever ready to buy/sale which means that you don’t need to look for someone to buy your bitcoin or someone you will sale to.

Use this link to register https://remitano.com/eth/ng/?ref=richy25528.

15. Bitcoin Trading

There is potential to make big money trading bitcoin. Unlike buying and holding, trading bitcoins means you buy at a low price and sell them back at a higher price within a short period of time. This requires practice and knowledge of the market and to some extent a crystal ball. Given that the cryptocurrency market is extremely volatile, this method can be very risky.

There is money in Arbitrage.

The volatile nature of the market, however, gives rise to the opportunities for arbitrage. Arbitrage– as per Investopedia is the simultaneous buying and selling of securities, currency, or commodities in different markets or in derivative forms in order to take advantage of differing prices for the same asset.

There are several reasons why bitcoin arbitrage takes place, Market demands, the difference in the quality of the markets and diversity in client behaviors to name a few. If you have a good knowledge of the market and you can keep surveillance over multiple exchanges spanning over multiple countries, there is a good chance of making a big profit margin. This is the part most bitcoin big players follow.

If you have at least some technical knowledge, you can also profit from using arbitrage bots.

https://www.youtube.com/watch?v=Dl6l-8jj7JM

Profit Strategy using bitcoin bots arbitrage

Day trading has a good profit margin if done correctly.

Though bitcoin is getting less volatile by day, we should not forget that it’s still early adoption years and there was price fluctuations of more than 3% in a single minute as early as April 2018. Day trading has lower risk than say “hodling” but also lower rewards unless you are investing heavily, so if you are choosing this part, you don’t need to use a little more because the money your investment, the money percent of profit you make. If you are prepared to do your research on bitcoin market and rules of economics in general, you can come up with your own strategies to profit from day trading without sacrificing too much. But there are existing schools of thought in day trading, you can choose to learn and follow anyone you deem best.

To get started, you need to deposit some bitcoin into the platform you wish to trade with. Binance and Bittrex are big players in this field. After creating an account, you deposit your bitcoin, then you choose the market you want to trade in. There are many markets such as USD, BTC, ETHEREUM, and so. You then have to choose which currency you want to trade against the other. Let's say you want to trade on the bitcoin market, you would have to choose which coin to trade against bitcoin.

This is a very lucrative way to make money from bitcoin and it’s the major thing people do to get real rich. It is also risky if you don’t know exactly what you are doing. I have an explanatory video course that will help you to start your trading  journey, from creating an account to depositing bitcoin, to starting your first trade and making your first profit. Contact me if you need this course.

More Tips

I’m glad you have gotten a stand on bitcoin and crypto in general. You now know how to start your journey in bitcoin and start making income. From these 15 ways, you can choose anyone that will be best for you. Need to mention, here are a few tips you need to know;

Like having physical cash, keep your bitcoins safe and keep your bitcoin wallet safe . This may mean enabling your Google 2FA, backing up your device or keeping your antivirus updated. There are a lot of digital threats waiting for you.

The industry is prone to fluctuations. This can be a good thing when you stay on top of it and learn the risk that comes with it.

Keep in mind that there is no free Bitcoin. You most always work for it. Although there are several methods to earn from it. With the market always growing, there will always be a demand in expertise or a new product that will develop with time.

It is advisable to make personal research before you take any of these bold steps.

Disclaimer

Sites/Platforms I recommended or mentioned in this book were all working and paying as at the time of publication of this book.

The recommendations I made in this book is based on my personal research and trust. I was not paid to recommend any platform or site.

Author’s Info.

Richard Ubasinachi Ezeala is a digital business consultant and a creative professional, a BA holder in Philosophy with other certifications in business and personal development.

Email: info@richardubasinachi.com

Website: www.richardubasinachi.com

Facebook: Richard Ubasinachi

WhatsApp: 08142788049