3 Ways For Making Money With Bitcoin In 2019

More and more people are seeking to make money online. Their purpose is simple: generating additional income in a more or less passive way. The phenomenal growth in the prices of many cryptocurrencies, and of Bitcoin in particular, in recent years has therefore naturally attracted their attention. We are in 2019 and Bitcoin is back in a bullish market with a price above $11,000.

Photo by Dmitry Moraine on Unsplash

This price may seem very high and some will therefore tend to think that it is too late to make money with Bitcoin in 2019. It would be a mistake to think that because the growth potential of Bitcoin is still enormous. In addition to buying Bitcoins, there are other ways to make money with Bitcoin. In the following, I present you the 3 ways for making money with Bitcoin in 2019.

HODL

The most accessible way to earn money with Bitcoin remains always the same in 2019. You will have to buy Bitcoins using fiat currency and then be patient. You will be part of the HODLERS. By joining the HODLERS, you will accumulate Bitcoins and wait for the price to continue to rise in the future. This strategy may seem simple, but many find it difficult to follow when the Bitcoin is in a prolonged bear market and fear is beginning to take hold of many investors.

Bitcoin Price Evolution Since 2013

However, this is the best time to implement HODL’s strategy. Indeed, as with traditional financial markets, the golden rule is to buy fear, i.e. when prices collapse. If you have faith in Bitcoin, it shouldn’t be difficult. Otherwise, you will have to take your courage in both hands or simply not investing in the world of cryptocurrencies!

By applying this strategy, you will accumulate Bitcoins and when the market turns in your favor, the greed of the new entrants will allow you to make big profits. In any case, you will need to find out about Bitcoin and cryptocurrencies before making this type of investment. Do your own research and try to understand why Bitcoin is a revolution.

This research should make you aware of its potential and the reasons that lead me to believe that its record price of $20,000 is nothing compared to the price Bitcoin will reach in the coming years. Thus, its upside potential is still very real.

Mining

In order to validate the transactions performed on the Blockchain Bitcoin, miners use their computing power to solve the mathematical puzzle at the heart of the Proof of Work (Pow) algorithm. When they manage to validate a block of transactions, miners are rewarded with newly generated new Bitcoins and by the amount of transaction fees that remain relatively low. As a reminder, 12.5 BTC are created and offered as a reward to minors who have validated a block. This reward will be halved in 2020 during an operation called Halvening.

With the return to a bull market, the mining of Bitcoins is beginning to become profitable again. In the past, many people have been able to earn a lot of money in Bitcoins with mining. Nevertheless, the entry cost is high since it is necessary to buy specific equipment that is very expensive. The electricity consumption induced by mining also requires a high enough Bitcoin price to keep the process profitable.

It is no coincidence that miners are increasingly concentrated in regions where the costs of specialized equipment and electricity are lowest. In addition, huge pools of miners have been formed in order to have ever more computing power and thus maximize potential gains. The market is therefore largely dominated by a few large players located in China now.

If the golden age of mining for private individuals is over, it is still possible to earn money with Bitcoin mining. You can join a network of miners in Bitcoins who will use your computational power and take care of the complicated part of the process. However, given the high entry fees, you must take into account all the parameters before you start.

Performing Tasks

A last way for making money with Bitcoin in 2019 is to perform paid tasks in Bitcoin. To do this, there are some sites that offer to pay you in Bitcoins when you perform specific micro-tasks such as registering on a platform, following a particular Twitter account, writing an article or answering questions about your areas of expertise.

A first example of such a platform is Bounty0x that is a decentralized platform for the creation, completion and validation of bounties. Bounties are bonuses that will be allocated for the achievement of specific tasks listed on the Bounty0x platform. The latter aims to facilitate the management of bounty programs where companies will pay developers to detect bugs in their programs.

The platform is divided into 3 main groups: bounty hosts, bounty hunters and bounty sheriffs. Each group is encouraged to act ethically with a mix of reserved tokens and bonuses associated with task resolution.

Compared to traditional freelance work platforms, Bounty0x offers 2 main benefits: decentralization and automation from premium management to the payment phase. These both aspects of the project allow a rationalization of the whole process from the creation of the task with a bonus until the payment of the said bonus. All this while being as fair as possible for all stakeholders so that everyone benefits.

The project is being actively developed by a solid team and the platform already has more than 10,000 active bounty hunters competing for several million dollars in bounty, as you can see by visiting their website: https://bounty0x.io

The Earn.com platform is an other good example of a site where you can earn Bitcoins in this way. Once you have registered on the platform, you will have a profile on earn.com. From that moment on, you will be paid to receive and reply to messages but also to perform other tasks sent by users of the platform.

Currently, payments on the platform are made in Bitcoin. The amount received through this semi-passive income generation method will depend on your commitment to the community and the reputation you will acquire over time. You may request one of the following amounts to complete the tasks:

  • $1
  • $5
  • $20
  • $100

However, there is no need to tick the $100 box right away. Indeed, without reputation, you would not have any solicitation!

In addition, Earn also offers lists to which you can subscribe to receive messages sent by users targeting specific people. Among the lists proposed by Earn, we can find some listing former students of a university or workers in the same field of activity. There is also a list, worth knowing, of people wishing to participate in Airdrops of new cryptocurrency projects. Finally, there is the list of Java or JavaScript developers as well.

If you wish to register and trying Earn.com, you can use my affiliate link:

Conclusion

Contrary to what some people say, Bitcoin is still an excellent opportunity to make money in 2019. I showed you 3 ways to do it. The first involves patience and intelligence, the second involves a significant initial investment and the last requires a minimum of skills and above all time.

It’s up to you to make your choice now.

Entrepreneur / Developer / Blogger / Author. In Bitcoin We Trust: https://www.inbitcoinwetrust.net

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store