Even though cryptocurrencies around the world have not yet been recognized as official means of payment, they are banned in some countries, and in others, they are the subject of serious debate, some enthusiasts build their business on bitcoin and make millions. Here are some real examples of Bitcoin business that can serve as an inspiration for companies that choose to integrate cryptocurrency. The success of Bitcoin businesses around the world can also be another reason for financial regulators not to treat Bitcoin negligently or negatively, but to pay attention and develop regulation.
- Method # 1. Investment
In the long run, investing in bitcoin will bring good profits, as the price can rise ten times at any moment. You can invest almost any amount because bitcoin is divided into 100 million pieces. But keep in mind that if you buy bitcoins you will not make a profit. You will receive a one-time profit only by selling bitcoins. Many people rushed to sell bitcoin when its price rose from $ 500 to $ 1000 and up to $ 2000, and then they greatly regretted it, as bitcoin continued to grow. By selling bitcoins, they could no longer count on profits.
- Method # 2. Speculation on the cryptocurrency exchange
You can make a profit by trading on a cryptocurrency exchange. Here you can get very big profits under one condition - that you have a system and you will stick to it. You need to understand that this is a job, and here win the professionals. Cryptocurrency exchanges should be monitored 24 hours a day without holidays and weekends. Be prepared for the fact that you have to keep up with everything, monitor the market, be in the information flow and 100% focus on this type of activity. Keep in mind that in the market, one person's win is another's loss. And another piece of advice - never let anyone manage your money on the exchange since in this case you are likely to lose them, it is only a matter of time.
- Method # 3. Arbitrage
There are several exchanges where bitcoin is traded. For example, on one exchange people offer to sell bitcoin for $ 7100 $, and on another - to buy for $ 7150. And on one exchange we buy for $ 7100, and on another, we sell for $ 7150. This is almost a win-win option. But, to make good money in this way, you need large initial capital (several thousand dollars on exchanges) and the ability to quickly make transfers from one exchange to another with a minimal commission.
- Method # 4. Your Bitcoin Farm (Mining Farm).
The time has when bitcoins could be effectively mined on usual personal computers or laptops has passed. Now the complexity of production and competition has grown very much. And the profitability of this option starts with investments of $ 2,000,000. With smaller investments, you will be below the level of profitability.
- Method # 5. Selling Bitcoin Products.
A great option if you have your store, products you could sell, and experience. Here you will need a special application or service that provides automation of sales for bitcoins. Other challenges of this option - accounting, lack of methodological recommendations and other "paper" problems.