Making Money with Bitcoin (works in UK, Australia and USA)
Latest 2017 Strategies
After being introduced to the world-wide market in 2008, the digital currency known as Bitcoin has become one of the most popular forms of online currency in the world. Where this form of payment varies is in its value – a value that doesn’t actually possess a physical number, but instead is worth what people are willing to trade.
There are thousands of people throughout Australia, the UK, Canada and around the world that take part in trades and transactions with Bitcoin on a daily basis; many of which have found their fortune by selling at the right time. Although the coins themselves have no actual value, they are still considered a functional form of payment and millions of professionals accept recompense via this online currency.
For those keen to make real-world cash from their Bitcoins, it’s important to note that they can never be exchanged for actual currencies (consider the pound, dollar and euro). Instead, these coins can be traded for goods and services, or sold when they are in particular demand for physical money. Here are a few of the most popular ways that people make money with Bit coin.
Buying Goods and Services
Although it’s not possible to convert bitcoins to real cash, it is possible to buy them with legal tender. Once purchased, these digital coins can be traded for goods and services, which can in turn be sold on to clients and consumers. As an example, imagine a business that offers website design services. This company may have purchased 500 coins for $200 and they could then offer 250 of these coins to a website designer to create the site itself.
The companies’ client pays them in real cash ($1000 as an example) and in reality, the only payment that the company will have made will be in Bitcoins – and even then for half of the value. The great thing about these online coins is that they are only as valuable as the demand makes them. This means that it’s entirely possible to purchase a service for 10 coins, 100 coins, or even 1000 coins.
Trading Coins for Profit
Another great way to make cash is to invest in coins (or purchase them from another peer at a low cost), and then sell them to someone else at a higher value. Many users dedicate months to watching the markets to identify potential peaks in coin demand and these are the best times to make a trade.
As the coins have a value dictated by those interested in trading or buying; the risk of making a loss on a trade is fairly minimal. When traded at the right time, it’s possible to receive a greater sum of cash then when trading during calmer periods – and when repeated, this process can lead to substantial profits.