10 Actionable Ways To Make Money With Bitcoin [2023]
Luxury, lambos, and insane profits leave people wondering how to make money with Bitcoin in 2023.
All you need is a basic understanding of where to look (and where not to), what to learn, and how to manage your time. And then stick to those principles — which may be the most challenging part.
In this article, I will explain different approaches on how to earn money through Bitcoin today and a few Bitcoin earning tricks.
I will begin with simple, low-cost methods, and go on to more complicated, higher-cost ones. By the end, you will be well equipped to start your journey.
Note: If you’re ready to put money on the table, I advise you skip to the 5th point on how you can earn money off Bitcoin “Invest in Bitcoin”.
Mục lục bài viết
1. Learn About Cryptocurrency
Do you know that you can make money with Bitcoin and cryptocurrencies, just by learning how they work, how their price is determined, on which platform to buy and sell Bitcoin, etc.?
Knowledge is power — and it’s truer than ever with cryptocurrency.
But learning doesn’t need to be tedious and confusing with only the promise of earning Bitcoin and cryptocurrencies sometimes in the distant future.
For instance, Coinbase, the largest and most popular cryptocurrency exchange in the world, offers the following (brilliant) incentive for its members.
With Coinbase Earn, you can learn about a cryptocurrency — and earn it.
Source: coinbase.com
It’s simple: watch a few videos (max 10 min. total) about a specific cryptocurrency — and earn up to $50 dollars in that currency you just learned about. You can then convert it into Bitcoin using the Coinbase exchange — and boom, you got one way to make money with Bitcoin without risk.
The videos are concise, informative, and entertaining. The best part being, of course, is that you earn the currency and can begin trading it or sell it for fiat.
Once you’re hooked on the basics of cryptocurrency, you’ll no doubt want to learn even more about how to make money from bitcoin.
Take note that not everyone is eligible to participate. The best way to know is to try to participate and join the waitlist, if any.
2. Surf The Web With Brave
Note: This promotion is no longer available starting November 24th 2020.
What is Brave? Well, if you’ve signed up for Coinbase Earn, you might already know!
Coinbase Earn has a short course about Brave and its very own cryptocurrency token — BAT. So, how do you make money with Bitcoin using Brave?
Just browse the internet and earn!
If you haven’t seen the course, then here is a short intro: Brave is a web browser, much like Google Chrome and Safari.
Source: brave.com
The biggest differences, however, are that Brave respects your privacy and will allow you to opt-out of ads.
If you choose to see ads anyway, then you will earn by clicking on them.
That’s right, you will no longer be Google’s guinea pig — being forced to see popup ads while all your browsing data is sold. By using Brave, you know that no one is exploiting your browsing data without your consent.
And the best part is: Anyone in the world can use Brave and earn with it.
Note that Brave will pay you with their BAT token — not with Bitcoin. BAT stands for ‘Basic Attention Token’. Once you earn BAT tokens, you can choose what to do with them: sell them for fiat, tip your favorite content creators with them, and more.
Of course, you can easily convert them to BTC on Coinbase — which is why I included Brave in this guide on how to make money with Bitcoin.
3. Make Money With Bitcoin Affiliate Programs
Affiliate programs are a simple concept: websites pay you commissions for referring customers to them.
Bitcoin and other cryptocurrency affiliate programs will, naturally, offer to pay you in BTC and that is one of the ways to earn Bitcoins. So how can you earn money in Bitcoin? Join such a program.
If you have a blog, YouTube channel, or other social media account: join a crypto affiliate program and share your links. Boom. Off to the races.
If you don’t produce content, then share your links with your friends, family, and post them wherever you can.
You’ll be earning Bitcoin and showing them that they too can learn how to make money with bitcoin.
Get started by visiting the following sites offering affiliate programs:
Bybit is a cryptocurrency derivatives trading platform which serves both retail clients and professional derivatives traders.
Deal: 30% of the revenues generated by your referrals.
To Participate: Follow these steps closely.
CommissionKings is a platform that manages the affiliate programs of many gambling sites which provide gambling services worldwide. And guess what: most of these websites accept Bitcoin as a payment method.
Deal: Commissions based on revenues, from 20% to 50% depending on the site you promote.
To Participate: Create an account and start promoting!
More options coming soon!
4. Work in the Bitcoin Industry
Working in the Bitcoin industry goes beyond just monetary value. There is no better way to learn how to make money with Bitcoin than by working with Bitcoin. The cost here is time and discipline.
If you take the time to understand crypto and can translate your expertise to the cryptocurrency industry, then your skills will be in high demand amongst the financial and technology worlds.
Most people have zero understanding of blockchain technology, crypto economics, mining, or how to think critically about its implications.
Given the lack of understanding coupled with rising demand, cryptocurrency experts can easily make upwards of $90,000, $150,000, $200,000 or more depending on experience.
And you know what?
Most of these jobs can often be done remotely, from anywhere in the world, and pay anywhere between $40,000-90,000 per year. Plus, they may very well offer to pay you directly in Bitcoin — which makes learning how to make money on bitcoin so, so much easier.
Source: cointelegraph.com
Let’s take a closer look at the various opportunities.
Community Managers
Don’t underestimate the importance of an excellent community manager. Many crypto projects have Facebook and Telegram groups, not just announcement channels. Which means that there is high demand for real-time support and engagement between the company and clients.
Many of these groups can have 15,000+ members chatting live, which requires prioritizing support requests, keeping clients happy, and fostering ongoing discussions with users.
Besides, managing a community of people with diverse thoughts, concerns and questions about BTC will keep you sharp — quickly improving your knowledge on ways you can make money with Bitcoin.
Content writers
Content creators, on the other hand, must be professional wordsmiths who understand how to communicate to the cryptocurrency market and adequately use the correct lingo in web copy, white papers, and blog posts.
Lots of cryptocurrency websites are popping up, whether they are content-based (like us) or launched their own cryptocurrency.
If you gain some knowledge and experience as a content writer, then you are well on your way to making money with Bitcoin. It’s easier to learn how to make money with Bitcoin when you’re writing about it almost every day and being paid to keep up with all the latest trends.
Oh, and do you know that CryptoManiaks hires new writers regularly? So feel free to apply so you can make money using your Bitcoin knowledge with us:-)
Blockchain Developer
Blockchain developers are arguably the most in demand professionals in the space. Those who understand how to practically build, debug, and improve upon blockchain networks are tough to find — and as a result, are paid handsomely.
Source: cryptofundresearch.com
To be a developer in the space requires not only knowing software development but specifically blockchain protocols and decentralized networks. Making money with Bitcoin becomes simple when companies are paying you in Bitcoin.
Blockgeeks.com is the best place to learn the basics and get your foot in the door — For Free. They offer the best resources available on Blockchain technology and have already trained an incredible number of blockchain professionals.
CryptoManiaks Tips: if you use our exclusive coupon codes CryptoManiaksPRO and CryptoManiaksACC, you’ll also get 20% off their premium content.
Next, let’s answer how you can make money with Bitcoin by actually investing in Bitcoin and cryptocurrencies — and by leveraging your investment.
5. Invest in Bitcoin
Perhaps the easiest — yet no less stressful — answer to the question “how to make money with Bitcoin” is to buy some BTC (or just a few bits of BTC) and hold them.
Even people who bought at every ATH most often times will make money.
Bitcoin peaked at $32 in 2011, $260 in 2012, $1,300 in 2013, and of course $19k in 2017.
After each peak BTC saw a big correction, it’s true. But for the people who held on — they were able to cash out at the next cycle. That’s where profits come from — holding on.
Buying and holding is fairly easy if you don’t know the basics. You don’t need to learn to code or learn about other cryptocurrencies. All you need to do is buy Bitcoin hold it.
But … What about keeping your Bitcoin secure? What about not getting scammed or hacked? These are also important questions.
You can navigate our website (and the whole web) to get the answers and find the knowledge that will help you make money with Bitcoin 10X faster.
6. Earn First Deposit Bonuses
When you are comfortable buying, selling, transferring, and holding Bitcoin, the world of ways to earn bitcoin begins to open up.
For example, just depositing and buying BTC on the following exchanges will make you earn more BTC.
Keep in mind though, that you won’t earn if you don’t use the links below.
Bonus amount: $10 worth of BTC
Release Terms: Buy 100 $/€/£ worth of any cryptocurrency
Eligibility: Anyone
Bitbuy
Bonus amount: $20 worth of BTC
Release Terms: Buy $100 worth of any cryptocurrency.
Eligibility: Canadian residents only.
Bonus amount: Up to 0.01BTC for trading (50% bonus)
Release Terms: Deposit up to 0.02BTC
Eligibility: Everyone except US and Japan residents.
Bonus amount: $60 worth of BTC/ETH/EOS/XRP for trading.
Release Terms: Deposit at least 0.2BTC or 6ETH or 100EOS or 1500XRP.
Eligibility: Everyone except US, Québec (Canada) and Singapore residents.
7. Make Money With Bitcoin Lending
Lending is an excellent way to earn money from Bitcoin.
Lending is underutilized, and we cannot stress enough how great of an opportunity it is to make money with Bitcoin.
Especially if you’re HODLing. If your favorite way to make money with Bitcoin is just buy and hold — then you must consider joining a site where you will lend your BTC to others while you earn interest.
Don’t worry, most of the best lending platforms are insured. If something happens — you’re safe in the knowledge that you will get your BTC stash right back.
Our favorite option to make money with Bitcoin by lending it is Coinbase.
They offer the best returns on your BTC, and have a pleasant customer service experience.
If you want to research and compare rates, check out the 3 Best Lending Platforms
8. Make Money With Bitcoin Trading
How to make money with Bitcoin? “Trading!” they say. Trading is the approach that everyone thinks will get them rich.
While this can be true, it requires lots of work and dedication to become a profitable trader.
As opposed to regular investors or ‘HODLer’ who buy cryptocurrencies and hold them for a long time, traders enter and exit positions intraday, flipping coins for profits hoping to make hundreds or thousands each day.
Source: imgflip.com
This requires understanding technical analysis, fundamental analysis, and all of the trading tools at your disposal.
While on the topic of trading, let’s discuss a couple of basic trading strategies
Leverage Trading
Many times, traders use leverage to borrow and trade with more funds than they have. This is called margin trading.
This can be an excellent way to make money from Bitcoin if you believe Bitcoin (or any other cryptocurrency available) is going to rise in price in the short term. And some platforms allow leverage trading up to x100!
Let’s take an example: Bitcoin is at $10,000 and you believe it will go over the $11,000 threshold soon (which means Bitcoin will make +10%).
If you trade 0.1BTC and use an x10 leverage, you would make 0.1BTC (100% ROI) if your prediction was true. On the other hand, your trade will be liquidated and you’ll lose your 0.1BTC if the price of Bitcoin goes below $9,000 (as Bitcoin would make -10%) so you need to learn how to invest in bitcoin and make money.
Margin trading requires you to always have a certain amount of collateral in your margin account. Collaterals are used by cryptocurrency exchanges to secure the loan: if you’re not able to pay them back, they sell your collateral to pay themselves back.
Important note: The whole process of borrowing money and paying back the loan is automatic on cryptocurrency trading platforms. All you have to do is setup the leverage multiplier and click “long” (if you believe Bitcoin is going up) or “short” (if you believe Bitcoin is going down).
Leverage trading may seem like the answer to how to make money with Bitcoin — but keep in mind it’s easy to get liquidated too. Approach with caution and education.
Shorting Bitcoin
If you believe Bitcoin (or any cryptocurrency) is going down, or if we’re in a bear market, you can decide to short Bitcoin to profit from downtrends. Shorting is commonly referred to as short selling or selling on margin.
Here is how it works:
- You borrow a quantity of Bitcoin using your collaterals.
- You sell them for another currency, let’s say USDT which is a
stablecoin
.
- If Bitcoin goes down in price, you can purchase back the same amount of BTC for a lower amount of USDT.
- You pay back that same quantity of BTC you borrowed.
That way, if your prediction was right and the price of Bitcoin went down, you’ll keep the difference for yourself!
Shorting the market gives you an incredible edge over other cryptocurrency investors, and is how traders make money from Bitcoin (at least the most educated ones).
Indeed, not only you’ll be able to make money when Bitcoin’s price goes up, but also when it goes down.
Best Bitcoin Trading Platforms
Here are the 2 best trading platforms I recommend using.
Delta.exchange
Bonus amount: Up to 0.01BTC for trading (50% bonus)
Release Terms: Deposit up to 0.02BTC
Eligibility: Everyone except US and Japan residents.
Bybit
Bonus amount: $60 worth of BTC/ETH/EOS/XRP for trading.
Release Terms: Deposit at least 0.2BTC or 6ETH or 100EOS or 1500XRP.
Eligibility: Everyone except US, Québec (Canada) and Singapore residents.
CryptoManiaks Tips:
If you’re in one of the prohibited countries, note that you can use a discrete VPN to change your displayed location and use these trading platforms freely. Although I do not recommend it, I know for a fact that lots of US residents use VPNs to trade cryptocurrencies.
9. Make Money With Bitcoin Gambling
Gambling is gambling — it’s one of the oldest industries in the world.
No surprise that Bitcoin gambling sites have cropped up to answer the call of how to make money with bitcoin.
Be careful though, as regulations haven’t caught up to the crypto gambling industry. Scams and bad odds are out there.
Fear not, we’ve compiled a list of the more reputable bitcoin gambling sites where you can try your luck and learn a few bitcoin earning tricks.
SportsBet is one of the best. They accept Bitcoin and many cryptocurrencies. Unfortunately, they do not accept US, Australian, UK, or Estonian punters.
- Pros of Sportsbet: Good from a legal standpoint, great customer service, they offer deposits with BTC, ETH, LTC, SOC, $US, $CA, EUR, INR, and more. They also accept Visa, Mastercard, MuchBetter, Ecopayz, Paysafecard, and more.
- Cons of SportsBet: Restricted to players from many countries.
- Games available: Sports Betting, Casino Games
- Bonus: Various promotions
- Availability: Worldwide, excluding US, Australian and UK residents.
As one of the first Bitcoin sports betting websites (launched in 2014), it’s no wonder why FortuneJack is one of the highest-rated cryptocurrency gambling sites.
They have 24/7 support, fast transaction speeds, and include BTC, BCH, LTC, ETH. All while offering a large selection of games: Dice, Blackjack, Roulette, Poker, Video Slots.
Keep in mind, though, that they offer deposits and withdrawals in crypto only — no fiat support.
Games available: Sports Betting, Casino Games
Bonus: First deposit bonuses 110% up to 1.5BTC and various bonuses
Availability: Worldwide, excluding UK, US, and a few more countries.
NitrogenSports is anonymous for players — which is great for privacy advocates. Plus, they don’t have any banned locations for gambling on their site.
Though they offer casino games as well as sports betting, including all the major sports for betting such as soccer, basketball, American football, as well as esports — they accept BTC only.
Thankfully, you can begin betting right as soon as they create an account for you. The account is also anonymous, payouts are quick, and their customer service helps too.
Games available: Sports Betting, Casino Games, Poker
Bonus: None
Availability: Worldwide.
More Options And Awesome Gambling Resources:
10. Make Money With Bitcoin Mining
Miners are arguably the most integral part of any decentralized blockchain network. They validate transactions, keep the network secure, and ultimately keep transactions moving.
Without miners, transactions would be stale and the Bitcoin network would be useless. As a result of contributing to the network, miners receive coin rewards, more technically known as block rewards. You do not need Bitcoin to mine, just some upfront cash to invest.
Mining has grown into a massive industry with giants such as Bitmain and other institutional sized mining farms. Big profits are to be made, but not without significant upfront cost.
Most cryptocurrencies require mining rigs for the miner to reap any benefit as mining with your basic computer (CPU) won’t do anything besides maybe increase your electricity bill.
Mining requires buying a mining rig or creating your own. Generally, mining rigs are made of 2 or more graphics cards (GPUs) because GPUs are much more powerful than CPUs, generating more hash power. Once you have the hardware rig, you can then connect your rig to a mining pool, which allows you to more easily direct your hashing power towards Bitcoin’s network.
Be aware that a mining rig can cost anywhere from $1,000 or more, and running these will also increase your electricity bill significantly.
Source: imgflip.com
If you would like to make money with Bitcoin mining but don’t want to invest a lot of money upfront, you should try Nicehash.
Nicehash is a cloud mining company. This means that you don’t need to worry about having your own mining hardware — instead, you can experiment mining at different networks using the Nicehash network.
Note that many cloud mining companies are unreliable, but I can safely recommend Nicehash. Go have fun with it and see what happens.
Conclusion: How Should I Make Money with Bitcoin?
There are no best methods on how to earn money with Bitcoin than those I covered. Now, you have to find the method which suits you best — there are no rules.
If you are not sure, then book some time and explore each option. And if you find yourself feeling lost, check out our free, awesome content on our site.
Ultimately, my best recommendations on how to make money with Bitcoin successfully are the following:
- Learn about Cryptocurrency (#1)
- Invest in Bitcoin and other cryptocurrencies (#6)
- While enjoying first deposit bonuses (#5)
- Lastly, earn interests from them (#7).
These are, in my opinion, the easiest and most efficient ways to make money with Bitcoin.
And remember: with all the opportunities Bitcoin brought to the world, and as long as you stay active and open-minded, you should find out how you can earn money from Bitcoin.
