7 Ways to Make Money With Bitcoin Right Now

The crypto market is more appealing than ever as more and more people look to the industry for a shot at serious wealth. Among those, Bitcoin remains the asset to beat for its resilience and upward trend. Read on to learn about the top strategies for making money with Bitcoin right now.

The crypto market continues to gain steam as more and more people turn to the industry in hopes of striking it rich. Among cryptocurrencies, Bitcoin remains the asset to beat for its resilience and upward trend. If you’re also interested in making money with Bitcoin, here are some strategies to consider.

Try Your Luck in Crypto Casinos

With the ever-increasing popularity of Bitcoin, online casinos are introducing ways to bet your Bitcoin against the odds for a chance at big winnings. Players can deposit cryptocurrency into sites without the need for an intermediary, potentially reducing time and the hassle of attaching traditional fiat currency to an account. Doing so also allows users to remain anonymous as they play.

Cryptocasino.ltd is one of the top sites of its kind, hosting more than 2,500 slot games, live casino games, and a whole lot more all in one location. While Bitcoin is the most commonly used digital currency, many of the site’s affiliates accept up to a dozen more.

If you’re determined to hunt for an online casino on your own, ensure the platform accepts the currency you plan to use. Check over its game offerings as well, since some sites have limited options or specific themes that may not speak to you. Finally, determine the online casino’s legitimacy before uploading any coins. You can do this by verifying licenses from credible licensing bodies and also seeing what other customers have to say on third-party sites.

Store It Away

Like most cryptocurrencies, Bitcoin can be incredibly volatile, thanks to a number of market factors. That said, it’s come a long way since trading for $0.003 at the start of 2010. Anyone holding onto coins since those early days might just be set for life.

Even if you’re a bit late to the party, storing your Bitcoin now can be an extremely effective money-making strategy. No one has a crystal ball, but some of the top analysts in the business estimate that the digital currency could reach a six-digit valuation as early as this year. Growth of that magnitude has profit written all over it.

If you do decide to keep your Bitcoins for a rainy day, the best place to put them is into a crypto wallet. These devices hold the private and public keys needed to access your crypto on the blockchain. Without those codes, your coins are unfortunately out of reach.

Some crypto users prefer hot wallets, which are software applications indefinitely connected to the internet. The convenience of always being online allows you to quickly view your stash or send and receive coins without having to jump through extra hoops.

Cold wallets are not hooked up to an internet connection, offering extra security from hackers. They’re usually enhanced hardware devices you can plug in or disconnect as needed to view your crypto information.

Do Some Trading

Crypto trading is the art of buying and selling digital coins in hopes of profiting from the market’s rises and falls. Individuals taking this approach incorporate news and market insights to detect changes in Bitcoin’s valuation, using those fluctuations to scoop up coins when the price is low and jettison them once they get too high.

In most cases, people enter and exit trades within a few hours, rarely longer. As such, it takes a steady hand and a keen eye for detail to increase your wealth.

Successful traders often trade Bitcoin for other cryptocurrencies in an attempt to capitalize on market shifts there as well. It’s also possible to trade Bitcoin for less volatile stablecoins that are tied to fiat currency or for the currency itself.

Another relatively new approach involves purchasing non-fungible tokens (NFTs) with cryptocurrency. These digital assets hold specific value and can be sold again for profit in the future.

Snag Some Bitcoin ETFs

In January 0f 2024, the Securities and Exchange Commission (SEC) finally approved the launch of several Bitcoin exchange-traded funds (ETFs). These funds trade publicly on a major exchange (such as the NYSE or NASDAQ) and contain a pool of Bitcoin-related assets.

In effect, these ETFs attempt to mimic the price of Bitcoin and give individuals some exposure to the coin without actually having to own any. People and businesses can now add Bitcoin ETFs to 401(k)s, IRAs, and the like where it wasn’t possible before.

Lend It Out

If you already have some Bitcoin, crypto lending is another option for making some money off it. Like other types of loans, crypto lending is a contract where you let someone borrow your coins for future compensation.

The entire process happens through lending platforms set up for this specific purpose. You place cryptos you don’t mind parting ways with for a period of time, and the platform takes care of the rest. Lending platforms can be either centralized or decentralized, each with their own pros and cons.

In most cases, borrowers are required to pay back digital currency with interest by a predefined end date. Interest