The best time to buy in on the Bitcoin craze was ten years ago. The second best time is right now. Sure, if you had bought back when Bitcoin was trading at less than $100 you would be a millionaire now that it is up over $35,000 in value for one single coin. That doesn’t mean that there isn’t money to be made, though.
In fact, the time is ripe for getting into Bitcoin as recently Paypal announced that you could start buying cryptocurrency through their platform. This means that there will likely be mass adoption and the price will continue to rise.
If you are afraid you missed the boat, then think again and put some money together to buy in. In this article, I will give you some of the ways that you can make money with Bitcoin.
1 – The no money down approach
I understand that money is tight for you during these uncertain times. But, if you are already working from home then you can use your spare time to actually make money with Bitcoin without even needing to invest.
One of the easiest ways to do this is to freelance and request that you get paid in Bitcoin. You may wonder if it is safe to have Bitcoin, but with the top Bitcoin wallet in the market and some good safety procedures you can keep your Bitcoin safe.
This is a great way to go since Bitcoin keeps rising in value. That $10 you made today will be worth more tomorrow and without you needing to lift a finger. Of course, there is always the possibility that it goes down in value but usually these dips happen and then it bounces back. Take a look at the history of the past year to see how it goes.
Another way to make Bitcoin without buying it with your own cash is to blog about it and make affiliate income when people buy through your links. You don’t need to be an expert, but with some knowledge and a good way with words you can make a go of it.
2 – Buy and hold
If you do have some extra money and are planning to invest it then buying some Bitcoin and holding it for a while is a good move. As I already mentioned, there will be times when it dips and possibly even crashes but it always bounces back over time.
If you are patient and you don’t panic when the value does drop you will be rewarded with a nice profit down the line.
3 – Peer to Peer lending
One of the reasons many people like Bitcoin is it takes away the need for a bank. Even to get a loan is easily done with Bitcoin. There are P2P lending platforms in which you loan someone money and make interest back on the payments. Not only that, but if Bitcoin is worth more when you get paid than when you lent the money you double dip the profits.
*This article has been contributed on behalf of Paxful. However, the information provided herein is not and is not intended to be, investment, financial, or other advice.