How to make serious money off of Bitcoin, without actually owning it. |
Posted: January 4, 2018 |
Bitcoin is the most popular type of cryptocurrency currently. Many people have heard news stories or read articles about how quickly the value of Bitcoin has risen over the course of the last year. Some of these stories talk about how savvy investors purchased Bitcoin years ago at a very low price and are now millionaires many times over. You may be enticed to jump on the bandwagon yourself to start profiting from Bitcoin. After all, if they can make money through this cryptocurrency, it makes sense that you should also be able to profit from it. However, some experts warn against buying Bitcoin because of the threat of hackers as well as for a significant loss related to possible Bitcoin bubble. The good news is that you can profit off of Bitcoin without actually buying the coins. Each of these money-making ideas may allow you to profit while mitigating risks associated with a direct Bitcoin investment. Mining Bitcoin One way to make money off of Bitcoin without buying it is to mine it. Bitcoin mining can be tedious, time-consuming work, but it is a great way to make money in your free time. Payments are usually made in the form of Bitcoins, but you can easily sell these coins if you do not want to hang onto them. Remember that mining can increase your energy bill, and you will need a dedicated computer to do the work. When you analyze the net profit after your expenses are taken into consideration, you may discover that mining Bitcoin is generally only moderately profitable. Another idea is to mine other cryptocurrencies. Creating a Bitcoin Faucet A Bitcoin faucet is a way for you to make money online through this cryptocurrency. Essentially, you will be giving away coins to those who visit your website and take various actions that you create. You will lose money by paying your visitors in Bitcoin. This means that you will need to hold onto some coins that can be used for payments to visitors. However, you can make a substantial amount of ad revenue by selling advertising space on your website. The more visitors that you have regularly, the greater the amount of ad revenue that you can generate. With a successful faucet, you will make much more money from ad revenue than you spend on faucet payouts to your visitors. Buying Bitcoin Stocks and Funds Some people are getting a car title loan or taking out a mortgage on their home to obtain investment capital for Bitcoin. While this is an option for some people, others may want to invest a much lower amount of money in a less risky way. There are now a few stocks and funds that are linked to Bitcoin. Some are directly associated with Bitcoin, and their value rises and falls directly with this cryptocurrency’s value. There are also stocks available in companies that are associated with this cryptocurrency, such as NVIDIA, Overstock.com and others. While buying these stocks can mitigate some of your risk associated with Bitcoin, you may still want to diversify your portfolio so that you can further reduce your exposure to risk. Blogging About Bitcoin Bitcoin is a commonly searched topic in many search engines. People who are new to Bitcoin want to know more about it and to learn how to buy coins. Experienced Bitcoin investors want to keep up with the latest news regarding its value, regulations and more. If you start a blog for Bitcoin that provides readers with useful and relevant information, you may be able to establish a loyal following. You will need to create the website and post regular content on it to build a following. When your blog website is popular, advertisers may pay you to place ads on your website. Bitcoin is creating amazing profits for investors, but investors face considerable risks by purchasing coins directly. As you can see, you can make a substantial amount of money through Bitcoin without actually buying the coins. Remember that you can also use these money-making ideas to raise money that could be used for direct coin purchases. Spend time learning more about each of these ideas to determine which money-making ideas you want to start using.
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