How Beneficial or Risky is Bitcoin Trading

How-beneficial-or-risky-is-bitcoin

We all concur the fact that the principal reason why people do trading is for money. It is not about their interest but a necessity to earn money and lead a comfortable life. Because happiness gets drawn from funds earned. So, traders find more effortless, but the best ways to accommodate funds at their disposal and bitcoin trading is among it. 

How to Earn Bitcoins Trading?

Before thinking of Bitcoin trading, it is essential to know how to get bitcoins for free or with lesser efforts. Once you discover how to draw them, trading is around the corner. Here are a few methods for earning bitcoins for free:- 

  • Bitcoin forks
  • Signature campaigns
  • Shopping rewards
  • Writing about bitcoins
  • Betting or gambling
  • Owning a faucet
  • Affiliate programs
  • Micro earnings
  • Interest-bearing accounts
  • Coin doublers
  • Bitcoin mining
  • Bitcoin-related services
  • Staking

Choosing one of these ways to fetch enough bitcoins or fractions of it paves the fair practice of trading them in the market. 

Burst a Bubble of Myth about Bitcoins Trading

Bitcoin is relatively the newest form of currency in the market. So, like any new thing, people have doubts and formation of thoughts regarding them. Some people think that earning money through bitcoin is difficult as it won’t last long, while others have contrarian views entirely. 

But the reality is, bitcoin as a cryptocurrency is like any other currency in the world. You need to have an idea and strategy in place before trading it in the market. Also, there are certain risks involved. 

Thus, waiting for the right time to initiate transactions is equally essential. There is no short-cut of a magic wand that can do it. You have to understand the market by applying various methods of analysis and tools.

However, bitcoins have the enormous possibility of earning provided you crack the code by learning deeply about the art of investment. 

A trader needs to invest time along with money to know how bigger the market and its returns are for everyone. 

The article picks up on pertinent points like

  • How much risky is it to invest in bitcoins?
  • What are the best possible methods that can draw heavy returns in lesser time?
  • And the kind of efforts needed to pull off benefits through market trends?

Earn Through Faucets

A faucet in layman’s language is a tap that runs water. Now, imagine the scenario in case of bitcoins. The money flows through the technique, but you require time and investment before getting it established rightly. 

However, bitcoins flow here in small amounts. But it happens through solving captchas which are relatively easy to resolve and do not require any heavy codings. Hence, the amount of bitcoin units generating takes lesser time. The websites offering them identify them as Satoshis. 

For setting a faucet, you will need good money, time and effort. Also, you’ll have to make sure it does not get involved in any wrong direction or fraud activities. The initial capital invested by you should not be much. It keeps perils of losses out of business. 

Deposit in an Interest-Bearing Account

If you already have fractions of bitcoins, then you can make interest on them by depositing them in some interest-bearing accounts. Today, various companies are rendering these services for crypto owners. 

Interestingly, companies that offer bitcoin loans also provide an opportunity for their clients to lend out their cryptos for earning interest on them. For example, if you wish to make a deposit annually and do not care about the cash for the time being, then the process can help you. 

Therefore, you have an extra income. Even when the price of bitcoin isn’t rising; you can simply deposit them and generate interest. Moreover, it takes away the stress of your bitcoins lying around in the wallet when the market is not doing well. 

Affiliate programs for Bitcoins

Not many people use this method of earning money through bitcoins. Perhaps, even experts overlook it sometimes and suggest other ways making gains through bitcoins. Precisely, affiliate marketing is a way through which people bring business to other companies. And if that translates into a customer, then they receive a fixed amount of cash. 

Some people can ask for units or fractions of bitcoins in returns. Several bitcoin exchanges provide the offer where one can register and start offering their services. You receive a unique link of the affiliate. One can use it in an article or blog writing and affix it with a keyword. 

Besides, you can also run Facebook campaigns and ads to promote that affiliate link. All in all, you have to draw leads that can convert into businesses. You can use any other social media, including WhatsApp, Twitter, Pinterest etc. for promoting the link.

For example, if you know a person who has a book to promote and that individual can pay in bitcoins. Crack a deal with that person, get the book promoted through the link. If the sales surge with your efforts, then bitcoin units are yours. 

Signature campaign 

Such campaigns are running for a while now. In 2014, a forum called BitcoinTalk first initiated it. For advertising a product, even you could use the platform BitcoinTalk signature and promote an item. For doing so, you get paid for every blog you write. 

There are membership levels, and as per them, you get paid for a signature campaign. There’s a word of caution if you have anything less than ‘full member’ status than it can impact the number of units you may receive in bitcoins. 

So, for becoming a full-time member, write at least one hundred and twenty articles. That may appear more, but worth it when bitcoins are at stake. Remember, it broke the record on 30 November 2020, which got created in 2017. 

The content you write should be unique in its own space and original. It can avail you better traction in the market full of Google traffic. Additionally, read the guidelines properly and check the limitations of posts and lengths. 

There may be a minimum to a maximum requirement for posts, and you get paid accordingly. However, the efforts that you put up are not that strenuous here. 

Shopping reward points 

The time of cash is almost over, and after the onset of COVID-19 pandemic, no one is risking visiting an ATM. Credit cards and E-wallets are getting popular, even in underdeveloped countries. 

We all visit shops and earn reward points by paying through those e-wallets and credit cards. Likewise, there are many shopping portals which are offering the reward point scheme. They deliver it in forms of bitcoins if you shop regularly.  

For availing this, you have to download an extension for your browser. Some brands may offer as much as 30 per cent to their regular clients. 

Start Bitcoin Trading 

It is not a hidden secret that you need to know from anyone. It is the most coherent way to gain benefits in the cryptocurrency market. Your focus and concentration remain on monitoring fundamentals and performance of bitcoin. 

Precisely, bitcoin gets traded on lower and high limits. When the market is low, people try to buy and vice-versa, they sell it as it touches a benchmark of their requirement. 

However, if you think that one can get lucky while trading bitcoin, then it is a myth. There is a lot of brainstorming, plotting and planning that go behind picking up every unit of bitcoin because of the risk involved. 

You may win one or two bids through guesswork, but for rewarding yourself to a satisfying return, learning deeply about it is essential. 

One must know that short-term investments have an association with perils like any other financial instrument. So, if you want to sustain remarkable gains, then we suggest you go for long-term investments. 

Also, if you wish to pursue the field as a professional trader, then get yourself educated about bitcoin trading, its dynamics and gather some capital near. The cocktail of these ingredients creates roads of advantage for investors. 

Begin bitcoin forks  

Forking means creating clones from existing bitcoins. The concept started in the year 2017 (August). Anyone who had bitcoin can also lay claim for the latest coin. 

One of the most common and reputed forks is Bitcoin cash. Traders are showing enough faith in it and investment in the coin. Likewise, Bitcoin Diamond and Bitcoin Gold are not farther. 

Notably, you may trade both clones of bitcoin, but first, you need to make yourself comfortable with the concept of cryptocurrency trading. 

Always remember, if you are not sure what is the reason or purpose of claiming bitcoin, you can end up losing out on your bitcoins as well. 

Thus, non-technical buyers must wait or seek help from their brokers while doling out any such step. 

Interestingly, after getting hold of fork coins, you can easily sell them on any exchange site or platform and make profits. 

Conclusion:

Bitcoin trading is akin to putting yourself in a zone where rewards for risks are high compared to other financial markets. Also, the options for earning and returns on investments are larger. 

You can earn by trading, shopping, writing, earning reward points in bitcoins and various other ways. But be cautious, do not try your hand in unchartered territories, where you are not sure of the outcome, else losses would be severe. So, be patient irrespective of the market swing. 

FAQs

Leave a Reply

Your email address will not be published. Required fields are marked *