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How to make money on Bitcoin?

Mudassar Hassan

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The question “How to make money on the Bitcoin Future is becoming more and more unrelated every day. Generally everyone knows that the way of make profit is buying / selling cryptocurrency (directly, on the exchange). But this is not the only way to make profit. You can get what you want by doing work with paying with Bitcoin or selling goods with the same condition. One goal is to fill your own wallet with as many digital coins as possible.

Ways to make money on Bitcoin

Almost any cryptocurrency earnings are designed to maintain the upward trend of BTC. Then the desire to increase the amount of savings in Bitcoin is justified. If their price starts to fall, it will be more profitable to trade on the exchange, receiving a profit both on growth and on reduction. But for now, there are several ways open to those who want to earn money. Common ways to get Bitcoin:

Selling goods / services for cryptocurrency through a payment system connected to the site or by direct transfer to the seller’s wallet

Mining on your own equipment by connecting to a pool of miners or renting a remote server

Inter-exchange trading with the purchase of Bitcoin on one exchange and sale on another, where they offer a more favourable rate

How to make money trading Bitcoin

Before creating a real deposit, you should learn from a demo account. On it you can experience various indicators, automatic advisers, manual trading strategies. And as soon as you start making a profit, switch to real money. The basic rules of trading on the exchange:

Choose a reliable company – you can focus on the availability of reviews on the Internet; on equipping the site (is there a thematic forum, the functionality of your personal account, etc.)

Selecting a currency pair- is the most common version of BTCUSD, some exchanges offer exotics like BTCETH (Bitcoin / Ethereum)

Explore the current market – technical analysis of the chart in online version will help here (you can select news sites that publish information about the cryptocurrency market, world events regarding Bitcoin)

Profitable investment in cryptocurrency

If exchange trading is confusing or there is no time for it, you can limit yourself to the usual purchase of Bitcoin. How much can you earn on cryptocurrency in this way – find out through the news. Owners of modest accounts in a few days were able to become rich people (in terms of rubbles / dollars). And nothing was done for this, except for the acquisition of coins.

In Bitcoin, you can store savings, exchange profits from trading in real currency and valuable metals / stocks for them. Sometimes they combine exchange trading with the subsequent exchange of profit for digital coins. Then the investor is not so important where to earn cryptocurrency. The amount on the wallet is refill from several sources.

Short and long term strategies

The history of the change in the Bitcoin Revival exchange rate suggests that investing in this kind of cryptocurrency for the long term can be profitable. On the one hand, it cannot be reliably said that the price of Bitcoin will increase significantly. Any cryptocurrency is credited to high-risk assets. And their value can drop sharply as it rose.

On the other hand, the Bitcoin mining system determines the formal rise in price of each newly created coin. The fewer they become in the long run, the higher the competition in the market, which encourage buyers and maintains the upward trend of the course. If a newcomer to the cryptocurrency exchange more often chooses intraday trading, trying to make a profit “here and now”, an experienced trader includes in the investment package and long-term strategies. Typical trading strategies are divided into the following categories:

Scalping – allows for a short period of time to get a big profit, but with the condition of increased risks.

Trending strategies – usually refer to medium and long term, when the transaction remains open from a few days to a month or more.

Breakdown strategies of the level – they consider the high instability of Bitcoin, because of which almost any breakdown of support / resistance is accompanied by a price movement with a “swing” that allows you to make good money.

Mudassar Hassan brings 6 years of experience in helping grass roots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is also the gold medalist from Abbottabad University of Science and Technology in the Bachelors of Sciences of Computer Science