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How to Make Money with Bitcoin

Many people who contact us are interested in learning how they can make money with Bitcoin. They ask about various Bitcoin auto traders and managed accounts and hope for our approval or recommendation.

Let us make it simple for you:

Do NOT trust ANY Bitcoin software which promises you guaranteed profits. I would also stay away from most managed account services, unless provided by a reputable company.

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As a general rule, NEVER send money to any company if you’re not certain about their legitimacy.

Don’t hesitate to contact us with any Bitcoin and crypto currency related question. You may also comment below to receive a public response.

Feel free to visit our Bitcoin and Crypto Currency Blacklist to make sure the service you’re interested in is not a scam.

So how do I make money with Bitcoin?

We’re not financial experts. However, we are aware that the price of Bitcoin has been steadily and consistently climbing. Common sense suggests therefore that the best investment strategy would be to purchase Bitcoin as soon as possible and wait. Of course, prices can always come crashing down and there are no guarantees just like with any investment. However, it does seem promising so I would definitely incorporate Bitcoin (as well as altcoins) as part of broad investment portfolio.

The downside of investing for the long term is obviously that it will take time to see profits. If you’re looking for a more immediate way of making money with Bitcoin, then you should consider Bitcoin day trading through a Bitcoin trading platform.

Keep in mind though that day trading is much riskier. For those of you who don’t mind waiting for guaranteed profits, follow the following steps:

Step 1 – Decide How Much Money You’d Like to Invest

Never invest money that you cannot afford to lose. You should only invest spare money. Let’s say you earn $5,000 per month, out of which you need $3,000 for all your living expenses. You’re left with $2,000 of “spare money,” which can be invested or saved. Add to that money you’re already saving, which you can use for investment.

Now, we wouldn’t recommend to invest all your money on a single asset, even if it’s a promising asset such as Bitcoin. It’s always safer to diversify. You could purchase a few stocks, maybe some forex, commodities, as well as Bitcoin.

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Step 2 – Choose a Reliable Bitcoin Exchange

Once you decided how much money you would like to invest in Bitcoin, you should sign up with a trustworthy Bitcoin exchange. If you would like our help in locating the best exchange for you, then feel free to contact us.

Step 3 – Make the Investment

Once you open an account, you will be able to buy bitcoins. Then, wait and watch the value of Bitcoin grow. Don’t worry if sometimes the value will drop. Many analysts believe that in the long term, it will continue growing.

Invest in Crypto Currency

Step 4 (optional) – Store Your Bitcoins on a Hardware Wallet

If you you’re spending a lot of money on bitcoins, then you should consider storing most of your bitcoins on a hardware Bitcoin wallet for extra security. We recommend TREZOR, a hardware wallet which supports not only Bitcoin, but also Dash, Litecoin, Ethereum and Zcash. TREZOR Review.

Another great hardware wallet would be the Ledger Nano S. It supports the following cryptocurrencies: Bitcoin, Litecoin, Ethereum, Ethereum classic, Dogecoin, Zcash, Dash, Stratis, Ripple, Hello, Bitcoin Cash, Komodo, PoSW Coin, Ark, Expanse, Ubiq, PIVX, Vertcoin and Viacoin.

Leave a small amount of bitcoins on your online wallet (provided to you by the exchange) in case you plan to use bitcoins for online purchases.

Making Money with other Crypto Currencies

Although Bitcoin is expected to be on the raise for a long time, it can be quite pricey to make a significant Bitcoin investment at the moment.

If you don’t have enough money to make a Bitcoin investment and even if you do, we suggest considering investing with as many altcoins, other forms of crypto currency, as possible. Most of them are extremely cheap and at least some of them will probably become at least as expensive as Bitcoin is today, if not more.

A more affordable strategy would therefore be to buy several altcoins, crypto currencies other than bitcoins. Most of them are very cheap at the moment, so it’s easy to buy many different kinds. The more you buy, the more chances that one of them will become as big as Bitcoin, thereby generating tremendous profits for you.

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42 Comments

  1. Julianna

    Which is the best exchange to buy Bitcoin and other altcoins in China? Factors include Fee wise, ease of operation(buying/selling) and trustworthiness.. Thanks!

  2. Agave Phil

    USI Tech is a forex and cryptocurrency trading company that also does cryptocurrency mining. You can start with as little as 50 euro in bitcoin
    They pay on average 1% daily for 140 working days (Mon – Fri) That’s your original purchase price back plus 40% profit!
    In my opinion this is a long term passive income opportunity that will be a great income for 2018 and beyond
    Join USI Tech Through Me Here (and get personal access to me): [affiliate link removed]

    **Remember guys there always a risk with any investment so be careful and only invest what you can afford to lose. Good luck to everyone!
    Do your research and your own due diligence before investing anywhere**

  3. chris jones

    what is the best wallet to use to buy and store some of the cheaper and smaller coins such as vertcoin etc in the uk thanks chris jones

  4. admin

    Which is the best exchange to buy Bitcoin and other altcoins in Canada? Factors include Fee wise, ease of operation(buying/selling) and trustworthiness.. Pls share info

  5. Kathleen

    Hello,

    What about the bitcoin/crypto wallet called Mycelium? Is it an ok wallet? They can also let us buy bitcoin for.a minimum of $50.
    Or I should really open an exchange account to be able to buy bitcoins and other crypto currencies?

    Thank you very much!

    • Aaron Azubuike

      Hi Terra, you can buy through Luno, been using them since last year. Please always make sure you have a secure wallet for your cryptos. I am not an agent, just a happy customer of Luno, what is more, I am a Cryptic Coach, so I speak from experience. Cheers

  6. Linzy

    hi.. Any advice on the best way to trade, based in Saudi Arabia? Etoro is widely advertised on YouTube but I have read mixed reviews about them. Are they a scam?
    How about Kraken or Gatehub, can we trade Ripple with them?

  7. Lebo

    Hi. A friend apparently is getting paid R2400 monthly from btc investment made with Luno? I am interested but this type of thing sounds more like a scam to me. Can you advice?

  8. Jamie Conroy

    Hello, I would greatly appreciate your opinion on Qryptos. I was looking into moving to this exchange because they are offering a no fees promotion. Thank you!

    • Admin

      I would buy as many coins as possible for a low price. Eventually, at least a few will hopefully grow and make your investment worthwhile. The price of Ripple at the moment is $0.202762, so it’s quite low. Definitely worth buying some.

  9. Vitthal

    BitOasis website requires Passport and Visa details to sell bitcoins. It is safe to provide these details and why is it required? What if one doesn’t have a visa?

    Thanks!

  10. Rick A

    Thanks been at it for a few weeks but I am under the impression you can buy altcurrency only with bitcoin but I may be wrong thank you Richard Allen

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