Bitcoin is a cryptocurrency invented in 2008 by Satoshi Nakamoto, whose real persona is yet to be established. It was implemented in 2009 as open-source software. The uniqueness of Bitcoin is that it is a decentralized digital currency and functions without the intervention of governments, Central Banks, and any other financial regulatory authority. The crypto can be sent between users on a peer-to-peer network bypassing any intermediary.
All transactions on the network are verified through cryptography by network nodes. These are then recorded in a public distributed ledger called Blockchain.
Bitcoin has often faced the brunt of government restrictions since it is easy to use the coin anonymously for illegal transactions. Since it bypasses established financial channels, Bitcoin can be used for money-laundering and smuggling without the activities coming to law-enforcement agencies’ notice.
On the positive side, Bitcoin is considered a safe-haven for investors during recessionary and troubled times. It is common for the value of fiat currencies and stocks and bonds to dive during an economic slowdown, as seen in the recent Covid-19 pandemic. But in studies, it has been repeatedly proved that the value of Bitcoin in these periods of the downturn has been stronger and more robust than gold, commodities, or the stocks and bonds markets.
How Do You Make a Profit With Bitcoin?
There are several ways to make money and profits with Bitcoin.
- Mining: Join Bitcoin mining pools, a group of miners who pool together the power of their computing hardware to solve complex mathematical problems and mine Bitcoins faster. The fees for the processing and the value of the freshly minted Bitcoin are split among the group members.
- HODLing: It is the term used to buy and hold Bitcoins in a wallet for a long period, hoping that the price will spike in months or even years. Given the volatility of Bitcoin, holders of the coin more often than not make a huge profit.
- Trading: This is a quicker means to profit as against HODLing. Essentially, trading in Bitcoin takes advantage of the highly volatile nature of the crypto. Be trained in BTC trading before venturing into this field.
These are some ways to make a profit with Bitcoin, even though the list is not exhaustive.
How to Make Billions With Bitcoin?
There are many ways that you can make your billions with Bitcoin – trading, mining, HODLing, and more, as discussed before. But the first question that you have to ask before trying your hand to become a billionaire is whether you are up to it.
Even though the value of Bitcoins varies wildly from one extreme to the other, it is always considered a safe-haven for investors. Prices of Bitcoins might have crashed dramatically over the years, but it has always risen to great heights. This is purely a matter of supply and demand. While demand for the crypto has been steady even when traditional instruments like fiat currencies and stocks have plummeted, the supply is not free-expanding as the total Bitcoins that can ever be mined and brought into circulation is 21 million. Therefore, the Bitcoin value will always be rising, and you can make billions by investing in the coin.
The next aspect of counting your millions is how much you are prepared to take the shocks. Bitcoin prices are highly volatile, and you might see your investment value drop by 50 percent any day. Just a couple of days back, the coin’s price fell by 17 percent to $30,000, only to reach $35,000 a few days later. If you have a large enough investment, you will be on your way to becoming a billionaire faster than you think.
Other ways to invest in Bitcoin
Apart from the traditional investments, there are other ways to invest in the coin. One is affiliate marketing, where you earn incentives from activities on Bitcoin. Choose a program and start earning right away. Then there is Bitcoin Faucet, which is primarily a reward system that offers fractions for doing such simple tasks as filling out surveys.
A very lucrative form of investment in Bitcoin is Arbitrage. As distinct from regular trading, where investments are made in one exchange, Arbitrage looks for opportunities across different platforms. You buy on one exchange and sell on another at the best prices.
Apart from that, there are also automated trading platforms available in the market that mainly focus on profit. But before choosing any platform, you need to check whether it is legit or not? One such reputed Bitcoin robot named Bitcoin Future is a perfect platform for you if you want to make a good profit. Check Bitcoin Future Review to know more about its legitimacy and features of it.
World’s Top 5 Bitcoin Millionaires
The top 5 Bitcoin Millionaires in the world are:
- Blythe Masters: Former Managing Director at J. P. Morgan Chase & Company.
- Dan Morehead: Founder of Pantera Capital, a crypto-focused investment company.
- Michael Novogratz: Billionaire who has invested about 30 percent of his fortune in crypto.
- Tyler and Cameron Winklevoss: Twins who settled their million-dollar lawsuit with Facebook and invested in crypto.
If you want to be a Bitcoin billionaire, the points in this post will surely help you know more about achieving your objective. Be persistent in your dreams, and you will surely succeed.