15.6 C
Nairobi
Wednesday, September 28, 2022
HomeNEWSMultiple ways to earn money from bitcoin

Multiple ways to earn money from bitcoin

Date:

Related stories

Can the digital Yuan revolutionize global trade for china?

When the Chinese government planned to work on a...

 CAF Super Cup to air live on StarTimes

Soccer fans in Kenya are set to enjoy the...

StarTimes secures FIBA EuroBasket 2022 broadcast rights

Basketball fans in Kenya will be served with a...

Anticorrosion Technology of Oil Storage Tanks

The oil storage tank is very important petrochemical equipment used to...

The Importance and Benefits ofeCommerce in 2022

Nowadays, we have faced a lot of difficulties and...

We may not know anything about the creator of bitcoin; however, what we do know is it is high time when you can earn bitcoins in multiple ways. There are multiple ways you could earn from cryptocurrencies. Now all you need is to choose the best way to or opportunity for it. Choose between Bitcoin or Ethereum.

However, we first need to know why it is important to earn from bitcoins.

Why is Bitcoin a great option to earn money in 2022?

The price of cryptocurrency went up to the highest in the year 2021. The reason is, bitcoin is the biggest cryptocurrency, and it is followed by the rest of the crypto coins in the crypto market. On the other hand, it is considered a general trend indicator of the cryptocurrency market.

The price of bitcoin reached the value of over 68,000 dollars, whereas it also dropped to 30,000 and less in around 6 months’ time. It happened due to the high volatile nature of the crypto market. This high price is what is making the bitcoin market a great opportunity to earn money.

According to experts, Bitcoin will reach the value of 100,000 dollars in no time. This indicates that 2022 might be a beneficial year for crypto investors to earn money.

How can you earn from Bitcoin?

As we know why it is important to invest in crypto, now we should also know what the ways of earning money from crypto are. Here we have listed some of the ways below:-

  1. Bitcoin Mining

Bitcoin mining is the oldest method of earning bitcoin. You can earn great money by this. You need to do in mining to add new blocks and solve cryptographic puzzles. The blocks are being added to the distributed ledger. There are 2 types of mining involved:-

Cloud Mining- Most of individuals prefer bitcoin mining because there is no huge amount of electricity bills or recurring charges involved in this mining process. There is no need to purchase any hardware or software for cloud mining, and a one-time payment is enough for the cloud mining contract. That is why it is easier than personal mining, and you can continue receiving bitcoins.

Personal Mining- The maintenance and electricity bills are comparatively high in this process. The demand for bitcoin is high. However, the supply is less. It is considered the hardest cryptocurrency to mine.

  1. Accept Bitcoin Payments

There are many businesses that are accepting Bitcoin Payments. They take it as a payment method for their services and goods. They are also inspiring other businesses. Therefore, when businesses are doing that, you can do it too.

Hang a sign outside your store when you have decided to take bitcoin payments. On the other hand, if you are running an online business, you can put the banner on the business website homepage. And, a bitcoin wallet is all you need to accept payments in bitcoin.

  1. Trading

This is one definite way of earning from Bitcoin. Many trading sites promote easy crypto trading. It is just like the traditional trading process. It is just the trading that happens with bitcoin. Not all trading sites are reliable. You need to choose carefully.

  1. Buy Bitcoin and Hold It

This is one simple way of earning bitcoin. You can buy some bitcoin or a fraction of it once the price is low. Wait for the price to rise. Many long-term investors earn well from this method. However, you can learn something about the crypto world in the meantime, which will help you in knowing the perfect time for selling what you have in your wallet.

  1. Tip and earn

Another effective way of earning is earning bitcoin as a tip. There are several sites online where you can help people out with various pieces of advice, and in return, they will tip you with Bitcoin. You can find those crypto-tipping services online.

Final thoughts

Here we have mentioned the ways of earning from bitcoin. We have also added why it is great to earn from bitcoin in the running year. Therefore, educate yourself and always make informed decisions.

Leave your vote

Comments

0 comments

Comments

0 comments

Maishah Marsden
Maishah Marsdenhttps://shopinkenya.com/
Maishah Marsden is the founder of ShopaXo (ShopInKenya.Com) and Maishah.Co.Ke . He is a top Kenyan blogger casually called by his peers as "Life'. If he is not writing your favorite articles, he is with his family. He loves sport and won't mind going on Safari anytime.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

LEAVE A REPLY

Please enter your comment!
Please enter your name here

close

Log In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.