Passive Income with Bitcoin: A Guide for New Crypto Enthusiasts

Cryptocurrency is booming all over the world. With certain governments favoring cryptocurrency while others are reluctant to use it, the topic remains hotly debated. Every person nowadays has heard of terms like Bitcoin and Ethereum and wonders what these new types of currency are, which have made some people so rich in just a few years. Many big asset management companies, like BlackRock, have also launched ETFs for Bitcoin and Ethereum. Most of us have heard the story of a guy who bought pizza by giving Bitcoin to the delivery boy. If he hadn’t bought that pizza with Bitcoin, he would have been a multimillionaire by now. To give you full knowledge regarding what cryptocurrency is and what Bitcoin is, I am writing this article so you don’t need to search other places for information.

First, you have to learn some terms regarding cryptocurrency:

USDT Meaning: Tether, also known as USDT, is a cryptocurrency stablecoin that’s pegged to the U.S. dollar at a 1:1 ratio.

How to Make Money with Bitcoin for Beginners Online:

People often wonder how they can make money from Bitcoin and get rich quickly. The problem starts when they want to get rich quickly. Everyone who wants to get rich quickly will eventually lose money in this market. If you are patient and have the mindset to be in this game for a long time, you can make money from Bitcoin. Let’s discuss ways in which you can make money from Bitcoin or cryptocurrency:

1. Holding/Investing: All those stories you hear about people getting rich from Bitcoin are about those who invested in this currency during its early stages. These people have gone through the market’s ups and downs and have still held onto their investments, resulting in multibagger returns. The first way you can make money from Bitcoin is by investing in it and holding it for long periods. You can invest a lump sum amount at once or invest a certain amount every single month.
2. Bitcoin Trading: Trading is one such activity where, if you have the right knowledge and mindset, you can make a lot of money from the price changes in the market. Trading can be of different types: some people do day trading, where they buy and sell Bitcoin on the same day; others do swing trading, where they hold onto Bitcoin for weeks or months and sell when they get enough profit from it.
3. Crypto Mining/Bitcoin Mining: Mining cryptocurrency is one way to earn money without even participating in the market. For mining, all you need is hardware to mine the currency. Crypto mining is beneficial for those where electricity charges are low and they have space to set up a mining area.

How Much Money Can You Make from Crypto Trading?

There isn’t any fixed amount of money you can make from trading crypto. It is like any other investment where the returns depend on multiple factors, such as how much money you put in, the risk-to-reward ratio, how good a trader you are, and the hit rate of your trades. So, the money can range from $10 to $100k or even millions of dollars.

How to Make Money in Crypto Without Trading?

There are various ways you can make money without actively trading in the crypto market. It is not necessary to trade actively; you can also earn money through various other ways:

1. Crypto Holding or Crypto Investment
2. Crypto Mining or Bitcoin Mining
3. Purchasing BTC ETF or ETH ETF

How to Make Money from Crypto Without Investment?

There is only one way through which you can make money from crypto without investment: through crypto airdrops.

How to Make Money from Crypto Airdrops:

Crypto airdrops are the only way to make money without investment. In crypto airdrops, you participate in events, perform certain tasks, and by actively participating, you can earn airdrops. Recently, there is a trend where you can play games on Telegram called tap-to-earn games. By playing these games, you can earn money. One such famous game is Hamster Kombat. I have explained what Hamster Kombat is in this article: Hamster Kombat.

How to Buy Bitcoin? How to Buy Cryptocurrency?

Just like any other form of asset class, you can buy Bitcoin from exchanges that are regulated and trustworthy. Here are a few exchanges:

1. Binance: It is the world’s biggest crypto exchange and the most trustworthy. It also has its own coin called Binance Coin. You can use Binance through this link: Binance.
2. Bybit: Bybit is the world’s second-biggest exchange. It has sponsored many big events and has a very active team. You can start using Bybit through this link: Bybit.

DISCLAIMER: Be very cautious when investing your hard-earned money in any cryptocurrency. Make sure to thoroughly research the projects that these currencies are working on before making any investment decisions.