How to make money from bitcoin?

21 Practical Ways to Make Money With Bitcoin in 2022

You've been following the crypto world for a while now, but it's time to move on. Who needs ups and downs, muddled terminology, and fresh innovations?! It's time for the digits, the money-chasing, the straight-to-the-point approach to boosting your revenue with crypto's fabled power. 

Do you want to learn more? You've come to the right place. This article will show you how to turn your bitcoin, ethereum, solana, and nanos into growth and cash. Just a heads up: some aren't easy, others aren't profitable, and the rest won't happen tomorrow. A grand, in the words of modern prophet Mike Skinner, "doesn't come cheap." Let's have a look at this in more detail. 

Bitcoin (BTC) has risen to prominence as the most popular type of decentralized currency in recent years. Its inventor may remain a mystery to this day, but one thing is certain: there are a plethora of ways to profit from Bitcoin today.

There are numerous options to consider, and deciding on the right path isn't always straightforward. We've created a list of tips on how to make money using Bitcoin to make things a little easier for you. Let's get this party started! 

1. Invest in Bitcoin and keep it. 

The purchase and hold method is one of your greatest options if you want to make money with Bitcoin without putting in too much work. Purchasing and storing BTC is one of the most simple and beginner-friendly ways to profit from cryptocurrency. The following is how it works:

Create a Paxful account and you'll get a free Bitcoin wallet right now!

Bitcoin can be purchased via a bank transfer or one of roughly 400 different payment methods. 

Hold on to your bitcoins and wait for price surges, no matter how long it takes.

You may hold off on selling for weeks, months, or even years. The benefit of purchasing and holding is that it allows you to do just that. This method has become so widespread that it now has its own internet moniker: HODL. It began as a typo on a message board and evolved into an acronym meaning Hold On for Dear Life. So, if you decide to buy and hold, make sure you keep your BTC safe. 

Why not attempt Dollar Cost Averaging if you want to take a more systematic approach to HODLing? DCA, also known as the continuous dollar plan, is a method of investing a large sum of money in little increments over a period of time rather than giving it out all at once. This is especially important for long-term investors who want to invest in specific assets. 

2. Make money from your cryptocurrency by earning interest. 

Our new helpful tool might be your best bet if you're trying to use your Bitcoin to conserve money or simply HODL for a set period of time. Paxful Earn allows you to make even more money by earning income on your cryptocurrency on a weekly basis—every Tuesday, to be precise. It functions similarly to a savings account, but with more options to earn additional funds. The product is already accessible in Nigeria and will be available in other areas of the world soon. 

3. Get Bitcoin cashback when you use your credit card. 

Many of the world's largest payment companies have begun to dip their toes into the crypto seas. Surprisingly, this allowed many crypto enthusiasts to take advantage of new financial opportunities utilizing their Bitcoin and credit cards.

Instead of miles or points, the BlockFi Awards Visa® Signature Credit Card, for example, rewards users with cryptocurrency. Cardholders can also receive 1.5 percent to 3.5 percent cashback, which is immediately converted to BTC and deposited into a BlockFi account on a monthly basis. Apart from providing a unique financial experience, the second best feature is the absence of international transaction costs. 

4. Participate in affiliate marketing campaigns. 

Affiliate marketing is another simple way to generate money using Bitcoin. This sort of marketing is used by many businesses to attract new clients. It operates by rewarding existing customers who refer their friends and family to the company. You'll find these kinds of programmes all over the market, but they're all different. Examine each one carefully before deciding on which one to devote your attention to. 

Here at Paxful, we offer our own Bitcoin Affiliate Program, which gives you the best chance to make money with Bitcoin. Look into it and see if you're willing to give it a shot.

5. Accept Bitcoin as a method of payment for your goods and services. 

As Bitcoin (BTC) grows in popularity, more businesses are beginning to accept BTC as payment for their goods and services. So, if you already have a business and want to make money with Bitcoin, why not accept BTC as a form of payment for your services?

By incorporating Bitcoin into your payment system, you'll expand your consumer base and make transactions more accessible to those without bank accounts or credit cards. The nice aspect is that receiving BTC payments is really simple. 

If you have a physical location, you may begin by simply placing a modest sign in front of your store and next to your cash register. If your business is online, you can display a banner on your home page or integrate a payment middleman such as Paxful Pay into your website. Customers can pay money to your Bitcoin wallet directly. 

6. Use Bitcoin faucets to your advantage 

Do you enjoy watching commercials and taking surveys? Fortunately, thanks to Bitcoin faucets, you can make a fair amount of money doing just that. Small amounts of BTC are given to users who accomplish simple tasks, such as watching advertising or filling out surveys, using these reward schemes. Some are even available as minigames! If you're interested in learning more about this, watch this video. 

7. Look for micro jobs and websites that pay you to click. 

This is a safe and secure technique to get BTC that only a few people are aware of. If you view an ad or click on a link to a page with adverts, many Pay-to-Click (PTC) websites will pay you fractions of BTC.

Keep in mind, however, that producing large amounts of money in this manner is a difficult and time-consuming endeavor. These sites are a great method to make a quick buck if you're ready to put in the effort. If you're interested in learning how to generate money using bitcoin, visit services like Coinpayu and adBTC. 

Another service that pays you a modest amount for simple tasks such as watching a YouTube video or filling out a survey is Microworkers. These PTC sites have Bitcoin analogues, such as BitcoinGet and CoinTasker, where members can choose from thousands of tasks to accomplish in exchange for Bitcoin. 

8. Collect BTC tips 

Helping others is one of the most rewarding things in the world—and if you get paid for it, even better! Bitfortip is one of the most well-known services, offering BTC rewards for actions such as assisting individuals in finding dresses online and providing knowledgeable technical solutions to their queries.

Furthermore, if you're a videogame streamer, why not take BTC tips? Check out the crypto-tipping services that have been integrated into Twitch and other streaming platforms. 

9. Make money from your website 

Monetizing a website is another excellent technique to make money using Bitcoin. If you're running a website and aren't sure where or how to start monetizing it, the Paxful Kiosk might be worth a look.

Another tool you may utilize to enhance your Bitcoin profits while also assisting others in discovering and understanding the potential of cryptocurrencies is the Paxful Kiosk. By installing the Kiosk on your website, you're assisting your customers or website visitors in purchasing Bitcoin quickly and safely. Simply told, it's a fantastic approach to assist others in getting started with cryptocurrency.

Paxful Kiosk is adaptable and simple to use. It also has no chargebacks and lets your clients utilize nearly 400 different payment methods. In addition, you'll receive automatic affiliate revenue on all transactions made by new Paxful users you refer. 

10. Lend Bitcoin fractions 

Transactions are made easier by the decentralized structure of Bitcoin and other cryptocurrencies. It is not necessary to be validated by any authorities.

You can loan BTC and earn money through interest because of the decentralization. Consider it a strategy to keep your money flowing even if you're HODLing—you're actually spending your money rather than storing it in your wallet.

You may utilize websites like Unchained Capital, Bitbond, and BTCpop to help you with your lending services. If you're still looking for a way to generate money using cryptocurrencies, consider lending. 

11. Slow speed Invest in Bitcoin 

Bitcoin trading is the fast-paced counterpart to HODLing, which is long-term investing. Essentially, BTC trading entails taking advantage of the currency's significant volatility. This strategy necessitates practice and market understanding, so do your research before attempting it.

Here are a few Bitcoin trading tactics you can use to generate money: 

Trading on the same day – Short and quick transactions are used in this strategy, allowing for small and quick earnings. Because day traders don't keep open positions overnight, this strategy meticulously studies the market, looks for modest profit possibilities, and capitalizes. Day traders may have a substantial cumulative gain at the end of the session.

Swing trading — If HODLing is for the long term and day trading is for the short term, swing trading falls somewhere in between. Swing traders, like HOLDers, will purchase low, wait for their assets to appreciate in value, and then sell high. Their holding time, on the other hand, isn't as lengthy as a HODLer's and isn't as short as a day trader's. 

Bitcoin arbitrage is comparable to the previous forms. Traders who employ arbitrage, on the other hand, hunt for money-making possibilities across multiple platforms rather than within the same exchange. In essence, they acquire BTC from exchange A and then sell it at a higher price at exchange B. 

Expect to put in a lot of practice time to master these techniques, so don't expect to get it right the first time. You may also use our basic Bitcoin trading method on Paxful to make money. This entails purchasing Bitcoin and then selling it for a profit. It's worth noting that Paxful offers approximately 400 payment alternatives, with bank transfer having the lowest fees of the payment groups. It can be used to buy Bitcoin and profit handsomely by taking advantage of the offer margins.

12. Participate in crypto and blockchain-related games 

Yes, you can make money while having a good time! Satoshis are awarded in Bitcoin play-to-earn games like Bitcoin Alien Run and Spark Profit. Non-fungible token (NFT) games have recently become popular. Axie Infinity, CryptoBlades, and My DeFi Pet, among others, are some of the most popular blockchain games. We'll say Bitcoin games are probably more entertaining than filling out a survey, despite the fact that they require more effort than micro tasks. 

13. Look for employment that pays in Bitcoin. 

Getting payment in your local currency is excellent, but receiving Bitcoin payments can elevate your freelance career to new heights. Many websites now allow you to do projects and tasks in exchange for Bitcoin and other digital assets if you're a freelancer who also happens to be a crypto geek. 

If you're not sure where to begin, look at websites such as laborX.com, Cryptogrind, Crypto Jobs, and CoinTelegraph Jobs. Smart Contracts are used by several of these platforms, making every transaction more efficient and secure. 

14. Create a piece about Bitcoin and the cryptocurrency ecosystem. 

Cryptocurrency is a new area, and only a few writers are truly knowledgeable about it. This implies that the market is inundated with inexperienced copywriters who recycle content.

Why not attempt teaching the public if you want to learn how to make money with bitcoin and have previous crypto writing experience? Some websites, such as Cryptocurrency News and Bitcoin Magazine, will pay you to write about Bitcoin. Many freelance websites, such as Upwork and Freelancer, are also available. 

15. Experiment with binary options trading. 

Binary trading has been around for a long time in the financial world, therefore it only makes sense that it may be used in the crypto realm as well. If you're ready to take risks, this is a good way to make money using Bitcoin.

Binary contains only two options, as the name implies: a trader purchases an option and an expiration time. It's either "in the money" or "out of the money" in the trade. Essentially, you're betting on the direction of the price. 

At 10 a.m., the price of Bitcoin is 46,500 USD. By 6 p.m., you may either wager that the price will be higher or lower. If you bet that the price will rise and it does, you will receive a percentage of your investment back. If it's lower, however, you'll lose money.

On the other hand, if you bet that the price will fall and it does, you will receive the option's payoff. This is a difficult way to generate BTC, but if you invest well, you can make a lot of money rapidly.

16. Bitcoin mining 

Bitcoin mining, in which miners used powerful computers to solve complex mathematical problems, was one of the original methods of obtaining BTC. They are rewarded with newly created BTC when they crack the code. It's a race to see who can solve the block the fastest, and those who are fortunate enough to do so win. 

Mining wasn't as difficult back in the day. Some of the first Bitcoin miners were able to make money using only their home computers. It's a very different situation now. You'll need top-tier equipment to mine in today's BTC industry, which can cost a few thousand dollars. You'll also have a lot of competition, as Bitcoin mining has been fairly popular in recent years.

To give yourself a fighting chance, you can join Bitcoin mining pools or mining clouds. A Bitcoin mining pool is a group of miners who work together to solve complex mathematical problems faster by pooling their computing resources. A Bitcoin mining cloud is similar, except instead of using the cloud to link their computing power, they use it to connect their computing power. They won't have to install and run the hardware and software themselves this way.

In any instance, the miners' fees from transactions are distributed among the members of the group, as is the freshly generated coin. Learn how Bitcoin mining works by watching this video. 

As the rivalry becomes more tough, you'll need better equipment and you'll need to manage your business as efficiently as possible to make a profit. Before you start mining, do a lot of research because there are a lot of other ways to make money using Bitcoin.

17. Create your own dropshipping company. 

Accepting Bitcoin isn't just a means to incorporate cryptos into your business if you're intending to open your own online store. Dropshipping is an example of a method you can use. You may sell Bitcoin for gift cards from hundreds of big businesses on this site. Clothing, electronics, accessories, consumables, and a variety of other items are included.

You may get a better deal on gift cards on Paxful; some are even up to half off! These gift cards can be used to buy things for your online store. The items can then be sold at a suggested retail price in your online store. This is where you'll make money.

Let's imagine your consumer purchased a pair of limited-edition sneakers. Paxful offers discounted shoe brand gift cards that may be used to purchase shoes from the online store. You will ship the item to your customer's address once you have it. The gift cards you used to purchase the shoes will net you a fair profit.

This strategy requires a little more work, but it's a great way to make money using Bitcoin.

18. Activate a Lightning Node 

Did you know that Bitcoin transactions may be completed in the blink of an eye? The Lightning Network, which enables lightning-fast Bitcoin transfers, makes this possible. Surprisingly, running a Lightning Node can also earn you money. This allows users to create Lightning Network-powered payment channels.

You'll administer a channel and get rewards from transaction fees if you run a Lightning Node. It's crucial to note, though, that the quantity of money you'll make may be less than in other ways on this list. On the other hand, the little payments you'll receive will make a big contribution to the network's scalability.

19. Become a masternode 

A masternode is a dedicated role that maintains real-time blockchain tracking. They're always up and operating, just like Bitcoin's full nodes.

The master nodes, in addition to saving, validating, and broadcasting valid transactions to other nodes, undertake a variety of duties with the blockchain, such as ensuring seamless protocol operations, managing voting events, and so on. They are well compensated for their focused services.

20. Find and fix website and system flaws. 

Bug bounties could be the answer if you want to make money with Bitcoin and are a code wizard. Many software companies and organizations reward you for uncovering exploits and flaws in their systems using these incentives. Many bitcoin exchanges and peer-to-peer marketplaces also provide similar programmes to help their customers improve their systems.

If you're interested in helping us make the Paxful platform a safer place for everyone, check out the Paxful Bug Bounty Program. 

21. Slow speed. Join the Bitcointalk discussion board. 

Bitcointalk is one of the most well-known forums on the internet. Satoshi Nakamoto, in reality, was the one who set it up. Millions of individuals use it, making it the most popular forum in the cryptosphere.

You can post on the Bitcointalk forum if you're a regular visitor and wish to make money with Bitcoin. Keep in mind that you'll need to have built up some authority through continuous posting before you can have a sponsored signature on your Bitcointalk posts. You can eventually earn paid for each post you make on the forum.

22. Mining for cryptocurrencies 

You may have heard about bitcoin mining as a straightforward way to get money. You solve the cryptography-based challenge first and are paid with bitcoin for your efforts. Isn't it true that nothing comes from nothing? That's not entirely true. It consumes a lot of electricity, which is expensive, and to be honest, you'll have to spend thousands of pounds on specialized equipment to achieve it. However, certain cryptos, such as the altcoin monero, are a little easier to mine. However, given the quantity of energy required to mine, it is not particularly profitable. So, for most people, mining is the best bet if they want to make money using cryptocurrency. 

23. Staking cryptocurrency 

This is similar to bitcoin mining, only it only applies to blockchains that utilize a proof of stake (PoS) algorithm, such as ethereum, rather than a proof of work (PoW) algorithm, such as bitcoin. It uses a lot less energy, but it requires a big amount of coins for that particular cryptocurrency, thus ethereum isn't an option. There's a chance it'll work with smaller cryptocurrencies like tezos, vechain, and NEO, but given their low value, this won't make you a lot of money (unless it goes up in value). 

24. Day trading is a type of trading that takes place 

This is a common way to make money, and you've probably heard of it because it's also used with stocks and exchanging fiat currency. With cryptocurrencies, the process is the same: you buy currency and then try to sell it for a profit. This isn't, however, a foolproof method. Even with regular equities, there's enough risk for individuals who don't know what they're doing (but on the flip side, volatility creates potential profit).

Trading cryptocurrency is extremely risky because no one can forecast how a coin will perform from one day to the next. Also, if you want to make a decent living, you'll need to approach it like full-time work because you'll need to keep track of how well or poorly a coin is performing in order to get the greatest purchasing and selling prices. People do, nevertheless, make a life through trade. 

25. Working as a blockchain developer 

This can be accomplished in a variety of ways. Running master nodes, which is the computer that verifies blocks of transactions on the blockchain, is one of the tech-savvy ones. Others, such as executing microtasks, are also viable options for those who aren't finance guys or software developers. A microtask could be something as simple as creating a YouTube video to promote the coin or blockchain, or writing a review. They won't set you up for life, but as a side venture, they're not bad. There are also actual positions at these places, ranging from blockchain development to public relations, for individuals who want to give it their all. 

26. Purchase and #HODL 

With this one, the clue is in the name. You'll conduct research to determine which crypto coins you believe will appreciate in value, then purchase and #HODL those coins. While this is a long-term project, it is a tried-and-true method that does not necessitate a lot of time or understanding. Essentially, you're wagering on whether a commodity, such as solana, will appreciate in value over the following several months, years, or even decades. In an ideal world, you'll do a lot of study and buy when the price has dropped a little, simply to make the most money (also known as buying the dip). But that's all there is to it. The days when the coin drops significantly aren't ideal, but the objective is that the slow and steady growth over time will result in a profit. 

The possibilities to profit from Bitcoin are constantly changing. 

Why not give Bitcoin a shot now that you know how to generate money with it? Who knows, maybe your efforts will pay off handsomely.

We will witness ongoing evolution as the crypto economy grows, and people will continue to find new ways to earn money with BTC. Do your homework and figure out what works best for you. The possibilities for making money with Bitcoin are endless—all you have to do is think outside the box. Best of luck! 

After all, it's a fast expanding region. Just keep in mind that it's a relatively young industry with no guarantees of making a lot of money. Do your homework and take responsibility.