We know the story of the man who got two pizzas for 10,000 bitcoins in 2010. He definitely can’t change his story, but you can change yours.
Cryptocurrency is considered the currency of the future and investment of today. We all want to be part of this development somewhere. The evolution from fiat to crypto.
Bitcoin has proven to be one of the most successful cryptocurrencies. The world will not have more than 21 million bitcoins with it.
If you’ve already bought a few and want to know how to make money with Bitcoin in 2022, you’ve come to the right page.
9 ways to make money with bitcoin in 2022
Here is a list of nine popular choices to choose from if you want to be a part of this bitcoin world.
1. Buy the dips
Buying the dips is a long-term strategy. You would have heard or even practiced this in your life. It is nothing but buying a coin when its prices are low and waiting for the top.
Then just sell it and book your profits. If you are good at reading the charts and predicting the future, you would end up making pretty good profits.
If we take a recent example from September 2021, everyone witnessed the flood of bitcoin. In the month of July, prices started to rise from the $30,000 base. After two months, it grew a whopping 78 percent and was worth $52,000.
If you track it through to the end of September, you’ll see a 23 percent drop where prices fell to $40,000 and rebounded about 69 percent to the $69,000 price point.
So this long example should only explain that if you buy at Dips, which is $40,000 in the example above, you would end up with a bank balance that will charm you.
You need to make money using this method, you need to keep up to date with the bitcoin price, and if you think the prices are going down, it’s time to take action.
There are various bitcoin wallets or trading apps that not only keep you updated about the bitcoin price but you can also buy and sell the bitcoins through these apps.
2. Intraday or swing trading
Unlike Pakistani markets, crypto markets do not have an upper or lower cycle. This way you can catch wild price action within a single day.
Intraday trading refers to buying and selling a script within a v24 hour timeframe. Those with a good understanding of charts and short-term movements can make hefty profits as intraday traders.
Swing trading is a carefully planned investment strategy. Traders buy and hold their coins for a short period of time so they can catch an expected price movement.
If traders can foresee the upward or downward movement of the price that will occur within a few days, they are likely to make good profits. This short period of time can be a few days, weeks, or even months.
3. Mine the coin
Bitcoin mining is a term we’ve all heard of at least once in the past few months. It refers to the process by which new bitcoins enter the blockchain cycle by verifying new transactions in the cryptocurrency system.
Is it easy to mine bitcoin? Can anyone mine the coins? If you want to mine Bitcoin, there are many complications like knowing the code, algorithm, setup costs, power consumption, etc.
Also, you should be able to crack Bitcoin’s algorithm, which is not that hard because the computer will do it for you.
To start mining, you need a powerful mining computer (rigs), which is quite expensive these days. Also, you would need to look for an area where electricity costs are low, be equipped with mining software, some basic knowledge, and finally membership in a mining pool.
After fulfilling all these requirements, all you have to do is enter the pool where a group of miners will mine coins together and be rewarded according to their contribution.
4. Stake Bitcoin
There are times when you want to hold your investments but greed or fear takes over your mind and you exit positions. They keep them in an online safe for a certain blocking period and appreciate the interest. This is known as staking.
When you stake your bitcoin, you are essentially lending it to the blockchain network. You need to put in a lockup period so you don’t sell the coin which may bring you big returns.
In exchange for lending the coins to the network, you earn interest (in the form of bitcoin) on your specified amount. It’s a good way to make a few extra bucks on top of the appreciation you get for the investment.
If you’re someone who easily rides the wave of greed or fear, then this could be a wonderful way to invest and make money with Bitcoin.
5. Play in another world
Now that we’re all familiar with Bitcoin, you may have heard of the practically real “Metaverse.” Gambling is an addiction and therefore mostly illegal in the real world. But if you have money and control, you can gamble to your heart’s content in the metaverse.
The Metaverse brings you a virtual casino where you can actually play with your bitcoins and make tons of money. Obviously, you have to be careful or you will end up losing all the coins from your crypto wallet.
A metaverse casino is just like the one you play on a cruise in Pakistan. You can place your bet in games like roulette, backgammon, blackjack, lotteries, craps, etc.
6. Be a startup investor
Startup investors are always looking for unique ideas to invest in. What could be more novel than a crypto startup? So we’ve heard about many money-making crypto startup stories and we’re certainly dreaming of one. If you’ve got that sack of bitcoins to invest in, this might be for you.
Crypto has become the new goldmine for investors, and here’s how you can catch an early bird. There are many ways and areas in which you can make your bitcoins work for you.
Some of them invest in the crypto-based gaming industry, crypto wallets, companies involved in metaverse creation, etc.
You can buy and sell a few million worths of virtual property in the Metaverse.
7. Bitcoin blogging
Every method I just mentioned comes with a lot of risks, but bitcoin blogging is different. You can write articles about Bitcoin and other cryptos and post them on your blog. This requires minimal or almost no financial investment in the beginner phase.
You can get paid by the crypto platforms to write posts for them. If that doesn’t work, you can run ads on your blog or promote crypto ad network products.
If you know your content is rare and needed, you can ask your users to pay to view your blogs.
Apart from that, you can host crypto events, own a crypto consultancy or create e-books, videos, audios, and courses to teach people how to invest. You also have the choice of getting paid in Bitcoin or another cryptocurrency.
All of the above achievements will take time to complete. First, you need to build a successful blog, gain an audience, and engage your readers. Once you decide to make it big in the blogging world and work for it, you will definitely make a lot of money.
8. Affiliate Marketing
Would you like an option where you don’t have to work as much but earn an amount that meets your monthly needs? You can also consider affiliate programs operated by crypto exchanges. You can make good money promoting bitcoin affiliate programs.
There are crypto-based affiliate programs that will pay you huge commissions and gifts (in the form of bitcoin) to promote or refer their platform to others. The commission can be as high as 50 percent on some platforms.
Crypto exchange Binance, for example, offers you a tempting 50 percent commission on Bitcoin (BTC) trading fees, while a 20 percent referral incentive when someone you referred deposits an amount into the exchange.
There are many other companies that offer many tempting commissions and incentive programs. So if you have a large circle of friends, you can choose to create a chain by referring them and earn a good sum at the end of the month.
Affiliate marketing is one of the best businesses on the internet. You not only make money by promoting crypto products but also all products on the internet.
If you know how to start your own affiliate marketing business from scratch, you can take the advanced affiliate marketing training offered by Dmatic Digital.
9. YouTube Channel
I don’t need to explain the potential of YouTube to you because you are already aware of it. But if you still want to know how much money YouTubers make, you can check this post.
Bitcoin is a hot and profitable niche. If you are well versed in bitcoin and cryptocurrencies, you can inform people on YouTube by creating a YouTube channel.
If you create at least one 10-15 minute video and one short video each week, you’re good to go. You can make good money from YouTube within the next 6 months.