How To Make Money Trading Bitcoins

How To Make Money Trading Bitcoins
Photo by Kanchanara on Unsplash

ExecutiveChronicles | How To Make Money Trading Bitcoins | Bitcoin is the first cryptocurrency in the world, and its emergence caused the development of the entire industry. Running on peer-to-peer software and having complex cryptography in the core, Bitcoin does not depend on any central government or banks. Every transaction in the Bitcoin network is recorded in a public ledger and shared in nodes, which are collected together in blocks that are added to a blockchain. It has copies kept on servers around the world.

To date, the BTC price is $31,1, according to Coinmarketcap (early June 2022). Even though the price has dropped, Bitcoin remains the most popular and reliable crypto asset, while trading bitcoins is one of the most often options on exchanges.

To check out the price changes of Bitcoin, check out the BTC chart on one of the exchanges (for example, Binance, WhiteBIT).

Many beginner traders wonder, “How can I make money with bitcoins?”. There are some options. Let’s talk about them.

Ways To Earn Bitcoins

So what are the main ways to earn bitcoin?

  • Trade bitcoins. Usually, traders try to buy BTC at a lower rate and then wait until the price increases and sell it. There are also options to make a profit when the market moves downward. For this, you should learn trading strategies thoroughly.
  • Invest for the long term. A somewhat easier way when you don’t have to monitor the market trends constantly is to buy BTC and forget it. Then when the price multiplies, you get a fortune.
  • Loans. If you have some BTC, you may provide loans and receive interest. BTC loans’ essense is the same as ordinary loans in the real world. If you are a lender, you loan your crypto to a borrower and get the interest that the borrower pays. Loans can be concluded between two people who have BTC wallets.
  • Play2earn games. Numerous projects of play-to-earn offer cryptocurrency for completing tasks and levels in games. If you used to enjoy computer games, try yourself in modern play2earn concept projects and receive real money for passing the game.

Pick an option that suits you best, and don’t forget to work with credible exchanges only.

Photo by Kanchanara on Unsplash