After Bitcoin’s sudden increase in value during the first quarter of 2021, new and seasoned investors just couldn’t get enough of it. This year, it reached a new all time high at around $65k, capturing the attention of various companies and governments.
In turn, the demand for Bitcoin increased with more people keen on learning how to profit from it. Are you interested in finding out how to boost your crypto investments? Learn the different ways you can profit from Bitcoin here at Casino Days Live!
Why invest in Bitcoin?
Bitcoin is a decentralized digital asset powered by cryptography and blockchain technology and is the best performing coin out of all cryptocurrencies out there. Here are some of the most notable features of Bitcoin:
- Bitcoin’s decentralised system removes the need for any intermediary or third-party intervention, giving way to affordable, anonymous and quick transactions between two or more parties.
- As it is decentralized, there is no central authority for the Bitcoin network. Instead, thousands of nodes or people who run the Bitcoin software in their computers call the shots. This means anyone is free to develop and improve the network through a majority vote.
- Bitcoin’s potential for growth delivers high yielding Return on Investment (ROI) in the long run.
- When saving money through Bitcoin, you can rest assured knowing there are no third parties that can take hold of your investment. You can rely on its anonymous account to secure your investment safely.
- Most investments require a minimal capital, compounded interest or a stake in your business. For Bitcoin, the cost of acquiring it is to simply purchase.
Where to get Bitcoin
Nowadays, buying Bitcoin has become easier and more accessible for new investors like you. For many investors, the best and most common place to buy, sell or trade Bitcoin is through cryptocurrency platforms called exchanges that match sellers and buyers’ orders.
Here are some of best crypto exchanges in the market:
- Coinbase Exchange
- Huobi Global
There are also other avenues where you can buy Bitcoin such as peer-to-peer marketplaces or broker sites. Peer-to-peer marketplaces offer cheaper fees, however, it is ideal for more advanced traders as it requires investors to manually search in the platform for a seller or buyer who will take on their order.
On the other hand, broker sites are platforms where you can directly buy any coin but with a higher price in exchange for its convenience and accessibility.
Tips to boost your Bitcoin profits
Bitcoin may have a volatile market but many investors are still in it to make huge profits. Want to know how to earn and hike up your Bitcoin profit? Read through the following sections to learn more about it!
Earn Bitcoin profit through interest payments
If you are just starting to invest in crypto, you should know that it’s possible to lend your investment to others to earn a profit. This is where Bitcoin profit is earned through interest income. When lending money, you can expect interest to be paid out at the end of the term. With Bitcoin, it works relatively the same way but with a few differences.
Instead of the conventional credit transactions you see in a normal lending process, Bitcoin uses two methods: P2P Bitcoin lending and Bitcoin banking. Here are their differences and features:
- P2P Bitcoin lending websites allow two users to exchange cryptocurrencies without the need of a central server. This means that trades have lower costs and better time efficiency due to trustless transactions.
- Bitcoin banking allows Bitcoin owners to use services similar to an actual bank such as holding a balance and making payments. Therefore, you can store digital currency in it and earn interest at the same time.
Promote Bitcoin affiliate programs
Affiliate marketing is promoting someone else’s products for a commission. For cryptocurrencies, your job is to promote Bitcoin, and you earn a commission if you sell Bitcoin to other people.
Examples of such affiliate programs are CryptoHopper, HaasOnline, and Paxful. These are popular trading sites that help you become an affiliate trader and trade Bitcoin to other interested buyers in the market.
Just like any other product, providing knowledge about Bitcoin and its merits will draw more people to the digital asset. With your affiliate marketing efforts, you can get a commission based on the number of sales you accumulate.
Trade Bitcoin in top crypto exchanges
Trading Bitcoin in exchanges is the fastest way to earn short-term profit in cryptocurrencies. It functions the same way as forex trading and stock markets where people buy Bitcoin when the price is low during a bear market and sell it when the bull market arrives and its value appreciates.
In a volatile market, prices can fluctuate frequently which requires traders to monitor the market movements to make small profits. There are various trading methods you can use to predict price changes over a period of time such as day trading and swing trading.
Moreover, you can forecast the trajectory of your Bitcoin by observing the market movements, then buying and selling Bitcoin at the opportune time. Many platforms allow you to do this like Binance and CEX.io that are great trading platforms to go to.
Play with Bitcoin at Casino Days Live
Make sure to follow these tips religiously to bring your investments to the next level! Bitcoin has so much potential in the market and there are many opportunities for investors to profit from it. One of these is through online casino gaming which can also be a great form of entertainment.
Take a break from your trading ventures and get the chance to have fun and make money using Bitcoin here at Casino Days Live where you can play different kinds of casino games!