Cryptos are at an all-time high and almost everyone is keen to hop onto the crypto bandwagon. But, besides mining, trading, and investing, are there any other ways to make money with Bitcoins in 2021? Incidentally, there are multiple ways to build an excellent portfolio. Knowing these can be beneficial for Bitcoin enthusiasts especially since the earlier part of 2021 saw Bitcoin prices hovering around $50,000.
Easy Ways in Which you can Make Money with Bitcoins in 2021:
- Trading: This is an effective method for making profits with Bitcoins. But even if you are an experienced trader, the risks are high. Losses are inevitable and unless you have an appetite for risks, you should not opt for this method. Trading demands research, analytical skills, patience, and commitment. Traders can choose from a variety of methods like day trading, swing trading, scalping, and position trading. Today, you have trading bots to execute the trade on behalf of you where your direct involvement is not required. Have a look at https://coincierge.de/bitcoin-future/ to learn about Bitcoin future which a bitcoin trading bot.
- Investing: When you are not confident about trading strategies you can opt for investing; this implies buying the coins and holding onto them for the long term. It may be time-consuming and you have to be prepared for years to enjoy profits.
- Crypto Airdrops: Projects are known to reward communities through airdrops; so, if you follow a certain project or use a specific platform you can become eligible for airdrops.
- Mining: This is one of the earliest and simplest methods of making money through Bitcoins even today, albeit costs have multiplied. Originally, it was possible to use regular home PCs to mine but now one needs specialized computers that are highly energy-intensive and cost a lot of money to maintain. Instead, you can join mining pools or cloud mining services to start mining.
- Staking coins: This is like lending cryptos but no loans are involved; the idea is to strengthen a network’s stability for which users get rewarded with tokens.
- Lending: In this method, you can lend your crypto holdings to another individual or entity in return for interest earnings. Crypto platforms such as Celsius Network reward users with 10% and more interest annually.
- Yield farming: Here, farmers enable decentralized exchanges by offering liquidity through crypto assets. This is a mix of lending and staking where decentralized exchanges will distribute your holdings to token swappers keen to trade for which the rewards are trader fees. It is a good option for those already owning cryptos but newcomers will find it complex.
- Talk on forums: You can earn money by talking on topics like the blockchain, Bitcoin, or decentralized finance; so, if know about these topics, create enough posts to earn BTC as rewards. You can even share tips on Bitcoins just like YouTubers or bloggers to get paid in Bitcoins. For instance, you can copy wallet address and turn these into QR codes which can be scanned. You can then add these codes to your site or channel so that a viewer knows how to give you Bitcoins tips.
- Faucets: It is also possible to make money with Bitcoins when you perform some simple tasks like taking part in a survey, watching a video, or clicking on an ad.
- Content writing: If you are a freelance writer you can start earning Bitcoins by writing useful crypto content on blockchain-driven sites. Moreover, if you work from home you can easily have this as an alternative source of income.
- Gambling: Some people have even opted to earn more Bitcoins by gambling. The Bitcoin online casinos have a variety of games that you can play and earn good money. This however works best if you are already an experienced poker player, for instance.