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5 strategies for making money with Bitcoin

5 strategies for making money with Bitcoin

It’s no secret that Bitcoin offers plenty of opportunities to make money with, provided you know what you’re getting yourself into. Today, we’ll be revealing 5 strategies you can use to multiply your Bitcoin holdings and the best way to go about implementing them. Let’s get started!

1. Multiply your holdings in a Bitcoin casino

What’s your appetite for risk tolerance? If you consider yourself an adrenaline junkie, you may want to consider making a Bitcoin deposit at nolimitcasino or any other casino that supports cryptocurrencies as a payment method. The benefit of this is speed and convenience. Compared to traditional wire transfers that could take days to arrive, Bitcoin makes the jump from point A to point B within minutes.

The inherent anonymity of these transactions make matters easier if you live in a country that is not in favor of gambling. Either way, if you’re going down this route, make sure to only gamble what you can afford to lose. But if luck is on your side, you could double, triple, or even quadruple your coins.

2. Hold for the long term

Many investment experts seem to share the view that holding on to your Bitcoin and playing it for the long term is the best strategy.  In practice, this could be anywhere from 1 to 7 years. In case you didn’t know, the crypto world often refers to the practice as hodling, which is a clever take on the word “holding”.

Unlike day trading that involves jumping from one opportunity to the next as the market takes upward and downward swings, those who follow the holding strategy believe that Bitcoin’s value will be much higher years down the road. The idea is to enter the market when its value is low and cash out years after when it’s speculated to skyrocket. If everything works out, this could yield anything from 2X or even 10X returns.

3. Day trading

If you’d like to take a proactive approach in Bitcoin trading rather than passively waiting for its value to increase, day trading is a good way to go. However, be advised that not every trade you make will turn out a winner and without knowing what you’re doing, you could blow your entire bankroll.

With that said, as long as you guess it right more times than not, you’ll end up successful. The secret sauce is to monitor recent events and use that information to speculate whether the trade you’re eyeing will go up or down.

The market is in constant motion. Can you make the right predictions?

4. Bitcoin lending

Many people find it hard to get a traditional bank loan due to strict requirements and conditions. But with Bitcoin lending, it’s just you and the interested party without any middle men in between.

In other words, you’re the one who gets to set the terms and choose who to work with. With Bitcoin lending, you can expect an interest rate of up to 15%.

5. Bitcoin consulting

Since Bitcoin is relatively new, many businesses are looking for ways to implement it in their operational workflow or simply seek guidance on how to set up crypto wallets, how to avoid getting scammed, and similar.

If you’re comfortable with technology, you could step in and offer your Bitcoin consulting services to them. You’d be surprised how many people are willing to pay good money for this.

For those who are not afraid to grab an opportunity by the horns, you’ll find that the world of Bitcoin and cryptocurrencies offers more than plenty. Now, it’s on you to apply what you’ve learned and build your own success story.

Photo: Pixabay.com

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