How can earn money through bitcoin

If you are interested in cryptocurrency trading, you must ever think can I make money with cryptocurrency?How to make money with cryptocurrency? What is the best way to invest in cryptocurrency? Today, let’s deep into these questions. 

Even if cryptocurrency investment has been an irreversible trend, it’s still not easy to make money.

Though some people have earned some money by good luck before 2 years, nowadays most of the winners will take profits by their deep analysis, great skills, and rich experience.

In this article, I will show you what stops a beginner to make money with cryptocurrency, and 10 safe ways you can consider in your plan.      

Please note: The cryptocurrency market’s high volatility offers endless trading opportunities. You can trade cryptocurrency directly on Mitrade platform, or continue reading to learn how to make money with crypto. 

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Investing in cryptocurrency can make a huge profit. However, it's also highly risky. You can win and lose a large amount of money quickly.  This means crypto trading is exciting, and it can be very difficult to keep peace in mind under heavy pressure.

If you find it hard to make money with cryptocurrency. You might think that “ should I invest in cryptocurrency?”.

By the end of this article, you will know what you can do to make money with crypto.

There are many ways to earn money in the cryptocurrency industry, but not all is effective and safe. I will explore some proven ways of investing in cryptocurrency.  Here are the top 10 ways.

1 Trade crypto CFDs

Any product with price fluctuations can be traded in the form of a  Contract For Difference. CFD actually is a T+0 margin trading tool, which allows you to trade a larger position with only a few capitals.

For example, you are able to trade as little as  lot bitcoin with a small deposit as an initial margin. 

The advantage of using CFD is you can go long or go short no matter the market moves, you will have the opportunities for risky returns from markets fluctuating.

In addition, trading Bitcoin CFD is more flexible, you can trade 24 hours and 7 days.

It's also popular to use CFDs to hedge physical portfolios for investors, especially in volatile markets.

Mitrade, as an ASIC regulated (AFSL) forex broker, offers + global popular instruments, including forex, commodities, indices, stocks, and cryptocurrencies. Therefore, you will have more trading opportunities in one account.

BTCUSD price fluctuates, don't miss trading opportunities▼

Mitrade offers you the opportunity to BUY (go long) or Sell (go short) on all Bitcoin trades, so you can use your preferred strategy regardless of which way the currency is moving.

Pros:

￭  Speculate on crypto price without owning the crypto

￭  No need to deal with crypto exchanges or open a crypto storage wallet

￭  Low deposit, Higher leverage 

￭  The ability to open long/short positions

￭  T+0 trading is more flexible

Cons:

￭  The main risk associated with CFD trading involves leverage.

￭  Not suitable for holding a position in long-term

Currently, Mitrade provides promotions for new customers, You can apply for 50USD free Trail Bonus to trade any financial assets without any risks, which is really helpful for newbies and beginners.

Do you want to trade Bitcoin or any other instruments, like gold, forex, stocks?

Please visit  Mitrade APP,  opening an account, and applies for this bonus!

2Day Trading

If you are interested in making money with cryptocurrency in a faster way, then you can try crypto day trading, which is a trading strategy where investors buy and sell orders multiple times in one day.

The high volatility of Bitcoin and cryptocurrencies makes the crypto market like a roller coaster, which is ideal for day trading, as during the day you will have enough ups and downs to get a good profit.

Ideally, you'll look for a low-priced opportunity to buy in and then sell it at a higher price. Though this may be a small income, in the long run, this can bring considerable profits to investors.

Day trading is a skill just like anything else. If you take more time to understand how it works, then it may be a full-time adventure.

Of course, no one will win in every trading, but the goal of day trading is simply to win more times.

So day trading requires investors more knowledge and skills. You can try to practice with a demo account on Mitrade, which provides a USD practice account. Once you have much trading experience, you can decide to trade in a real account. 

I will show you how to trade cryptocurrency on Mitrade platform next paragraph.

Read more: >>>Strategies for Trading Volatility With CFDs.

Pros: 

￭   Relatively low cost 

￭   Trading bitcoin on price changes

Cons:

￭   Need more skills 

￭   Much time and energy

3 Bitcoin Mining

Mining cryptocurrencies is different from the above 2 ways of trading. Mining may be more difficult than the other ways, but it may be more profitable when you mine successfully.

Although the mining process can be done from a computer, you still need basic software, specific hardware, crypto wallets, and much of electricity. For most people, mining is a highly specialized industry that is not suitable for individual investors.

Most Bitcoin mining is done in a large warehouse where there is cheap electricity.

Sometimes, the hardware is also expensive. For example, during the bull market in , the price of GPU raised steeply, while as the market collapses, you can buy good mining equipment with less cost.

In the early years, the bitcoin miners were able to earn coins relatively quickly. But by , cryptocurrency mining is more complicated. Many professional miners have built huge arrays to mine, making it harder for smaller miners. Of course, you can join a bitcoin mining pool to be more effective, but that comes with a fee.

I also find out some crypto miner app in the crypto industry, claiming to help you mine crypto coins. It’s more like a hobby mining. Don’t rely on the app to make great money for you.

Pros:

￭   Earning potentials is higher 

Cons:

￭   High cost to start

￭   relatively difficult

4Long Term Investing

This is the easiest way to make money with cryptocurrency. Many people decide not to trade cryptocurrencies, but instead buy a certain number of coins and then put them in their wallets until the price rise so that they can make profits.

The premise of long term investing is that you have researched and believe the cryptocurrencies you invest will get more market share after some time.

Although there are many different digital coins, we recommend that you pick the safe and highly liquid currencies, such as BTC, LTC, and XRP. These coins have been popular on the market. If you invest in a new crypto coin, it may be cheap, but the coin is likely to disappear after the trial of the market.

Currently, many people earn a big profit from Bitcoin, because they bought Bitcoin in the year of or , and they hold these digital coins for several years even if the price of bitcoin had raised to 18, USD.

Pros:

￭  Easy to start

￭  Beginner-friendly

Cons:

￭  Take a long time

5 Arbitrage

Some investors also use the way of arbitrage to make money with cryptocurrencies. This means when you buy a digital coin in crypto exchange and then sell it on another crypto exchange.  But honestly, crypto arbitrage is rare that probably won't make you get rich quickly.

Pros:

￭   Instant profit

￭   Low requirements for entry

Cons:

￭   Good opportunities are rare

￭   High risk of losing profits due to the high volatility in the cryptocurrency markets

6   Cryptocurrency faucet

If you are finding an effective way to get profit from small amounts of cryptocurrencies, then Crypto faucet may be one choice.

Crypto faucet is like a dripping faucet, actually is a website, releasing quite small amounts of cryptocurrencies such as Bitcoin every few minutes. Of course, you need to do some tasks according to the website requirements.

The crypto faucet website will make money with advertising and traffic. When you’re waiting on the page, there will be advertisement placements.

Pros:

￭   Easy to use

￭   Easy to earn coins

Cons:

￭   Quite a small amount of coins

￭   Need to spend much time

￭   Can't make you get rich

7 ICO 

ICO means Initial Coin Offerings which are similar to crowdfunding. ICO allows entrepreneurs to raise funds by creating and selling their virtual currency without risk capital.

It is the potential to make a huge return on your investment, but it also brings huge volatility and risks. ICO has a lot of pitfalls. You have to be careful about choosing the right ICO. If the ICO coin is not very valuable, you may run the risk of losing money.

Therefore, you’d better invest when you think the project is good enough, and only invest in what losses you can afford.

Pros:

￭   Opportunity to invest in perspective enterprises at an early stage

￭   Low entry threshold

Cons:

￭   Many scams

￭   Hacker attacks

￭   High risks

8Crypto gaming

This is also a fairly common way to earn Bitcoin, playing games to receive BTC, it is similar to joining the Bitcoin taps above. There will be new titles released and they need to have more people download and play games to make the game more popular, these games will award BTC prizes to users. 

Your job is simply to have a phone and download these games, then sit and play. After completing the game, you will receive a certain amount of BTC.

Pros:

￭   Easy to earn Bitcoin

Cons:

￭   Have to spend much time

￭   Quite a small amount

9  Be a blockchain developer

Blockchain development is not much different from regular web development. Many developers have developed their own distributed application (DAPP) on some platforms, such as Ethureum and NEO. Then, you can earn money by displaying ads, purchases, subscriptions, etc. within the app.

However, creating and maintaining a common blockchain is not easy. First of all, the code is public and visible to everyone. Anyone can view the code and check for errors and vulnerabilities. This allows any programmer to invade.

Pros:

￭   High salary

￭   Safe way to gain coins

Cons:

￭   You must know about coding

10By advertising crypto with affiliate marketing

If you own a website or blog for crypto, this may be a good way to earn a secondary income.

The cryptocurrency industry, especially Bitcoin, is growing, but the content around Bitcoin on the Internet is still "scarce". You can take this opportunity to create a website specializing in posting news, tips, instructions for Bitcoin trading.

Pros:

￭   Low investment costs

￭   Passive income

￭   Flexible working schedule

Cons:

￭  You must have a website

￭  You don’t control affiliate marketing programs

￭   Freelance jobs are not for everyone

So, how to make money with cryptocurrency? Now you have your own answer. The above has provided the 10 best ways to invest in cryptocurrency from my side. 

For experienced traders, you can benefit from the high volatility of the cryptocurrency market.

If you prefer to trade online, trading cryptocurrencies with a forex broker may be your choice. Nowadays, many traders can open an account online in only a few minutes. 

Next, I will share you with the process of trading bitcoin (BTCUSD) online with Mitrade. 

Mitrade offers you the opportunity to BUY (go long) or Sell (go short)  on all market fluctuations，so you can use your preferred strategy regardless of which way the currency is moving.

Don’t miss your opportunity to trade Bitcoin. Start Trading Now!▼

Mitrade is an online forex and CFD broker based in Melbourne Australia, regulated by ASIC (AFSL ). You will enjoy competitive trading conditions, such as 0 commissions, low spreads, up to leverage, as well as fast and reliable order execution. If you buy lot of bitcoin, you will deposit about dollars according to the current price.

Mitrade also provides you protection against negative balances, allowing you to control the trading risk and trade with peace of mind.

Why Choose Mitrade? 

▶ Competitive Cost, hour Trading

Zero commissions, low overnight fees, and competitive and transparent spreads. All costs will show on your deals order.

▶ Low Deposit High Leverage, Trading Anytime Anywhere

The minimum size per trade is as low as lots for many markets. Leverage up to You will enjoy seamless trading via both iOS and Android mobile apps along with web platform. 

▶ Good liquidity, efficient and convenient

Provide more than popular global trading instruments. T+0 settlement, more flexible and efficient.

For example, to buy (long) or sell (short) the Bitcoin using CFDs, you can follow these easy steps:

1Step 1: Sign up and choose your account type

Open your trading account at Mitrade or try our risk-free demo account!▼

2Step 2:  Search the markets you want to trade and select it

You will find more than popular markets on Mitrade, like cryptocurrencies, forex, stock indexes (SPX, Nasdaq, etc.),  commodities (gold, silver, crude oil, etc.),  and US stocks (such as Apple, Google, etc.)

3Step 3:   Open a long or short position

You can work with Mitrade's trading tools (such as Strategy / Economic Calendar / News ) to explore the trading possibilities when the market fluctuates.

4Step 4:   Set up your position size, order type and Confirm the trade

When you open a position, the order panel is displayed on the screen, you can choose the Take Profit, Stop Loss, Trailing Stop Loss, Limit order, and contract size easily.

 * When you select your position size, your margin will automatically populate on the deal ticket.

5Step5:  Close the position and withdraw your profit

Once the trade has seen some profit, you can close the position and withdraw the money to your personal account.

What are the trading Fees?

The trading fees are not fixed, forex brokers often charge the commission, spreads, overnight funding, and Inactivity fees. 

Mitrade, as an ASIC regulated broker, providing a competitive trading cost for traders. You can find out the details on each product specification.

The contracts specification for cryptocurrency on Mitrade▼

( The data will differ with price changes, for the current situation, please look at the Mitrade trading page)

What's stopping beginners from making a consistent income from trading cryptocurrency? 

❌ Make money with cryptocurrency will take a lot of time and consistent effort.

Well, unlike the professional investors, most beginner traders learning to trade aren't a full-time trader to immerse themselves in the markets

That means they don’t have enough time to get themselves to the level where they can trade like a pro. 

❌ You have no clear trading strategy

Ask yourself a question: "What is my trading strategy?". If you answered: “Strategy? Well, I simply bought and waited in hope, so was that considered a strategy? ”. Now we need to talk.

If you do not have a clear trading strategy, whether it is based on technical indicators or basic data on crypto assets, or based on technology (algorithmic trading), then certainly there is very There are many potential problems that you may encounter.

However, first, you need to better understand yourself and your trading style. Digital assets are one of the most volatile assets these days, but at the same time, basic blockchain technology creates an opportunity to become richer in the future.

❌ You blindly hope to recover

The blind hope of a rebound or Bullrun is something every trader has experienced at least once. That's why you will see repeated reminders in investment documents that, "What happened in the past is not an indicator of future price movements."

Indeed, there is a difference between technical analysis and staring at the screen and chanting "Bitcoin will reach 21," until that happens.

❌ You are averaging your position during the downtrend

Another problem you might find in the bear market is the average of the downtrend, or in other words to engulf you in the market. Some altcoins are considered promising, or real prospects, but stop and ask yourself why you keep hanging around this coin and can't get out.

Buying when the market is falling is a good way to buy low, but you also need to sell as soon as it feels right, or maybe you will have to see the currency's decline even deeper before it shows. any profit.

You probably know that some people can buy A for , the price falls to 80 and still doesn't cut losses as previously thought, and then to 60 people who hope that the market will return, spend money, buy in to hope you're in an "average" position and reduce losses. Then it goes down again and you become panicked.

❌ You completely forgot about risk management

Without questioning why an altcoin (or even Bitcoin) is so volatile will lead us to the next reason for answering the question "why are you losing money in the bear market?". If you do not pay attention to risk management, you are putting yourself at a loss.

Ask yourself your current average risk level by assets and exchanges? Will I have a chance to recover if one of the coins is delisted or the exchange is hacked? If you do not have clear answers to these questions - you may be walking in a minefield.

❌ You do not learn from your own mistakes

The last reason is probably the most important. Almost everyone has stared a few times at the screen and begged for an increase in investment. Or some people continue to buy a sinking crypto asset that is unlikely to recover. But they have learned a few things. If you're making a mistake from this bear market, pay attention to them. It is the cost of education, although the loss is not fun, if you do not take advantage of that opportunity and learn from mistakes, especially due to excessive hope or limited knowledge, the more you will lose. more hope.

Read more:

How To Day Trade with Bitcoin CFDs For High Potential Profits?

How To Invest In Cryptocurrency? Actionable Steps Guide