The price of bitcoin is rapidly increasing, and some people are confused about bitcoin investment. The cost of bitcoin at the initial stage was 0.05 US dollars, and now the price is 48,060 at the time of writing this article. Some people are confused by saying that other people who have invested in bitcoin in the initial stage or the last few years are more profitable, and now bitcoin is at peak, and we cannot make money through bitcoin in 2021. But the answer is incorrect. It is just a myth. So in this article, we will talk about this myth and understand why people are confused and how you can make money in this advanced digital era.
Why Do People Think We Cannot Make Money In 2021
Media is the biggest reason that influences our buying decisions. In the past few years, bitcoin was booming, and the news got viral, and there are many headlines like, You can be a millionaire in one month by just investing in bitcoin, and there were a lot of headlines that influence people to buy. So people started accepting bitcoin, and with high demand, prices started increasing, and when the price started falling, people also started selling, and as a result, they suffered a loss.
People think now the price of bitcoin is too high, and it is not a better option to invest; many people have lost their money, and now we will also lose if we invest in bitcoin. That is the reason people are saying, price of bitcoin is already, and it is not a good form to make money in today’s era. There are various methods of earning money through bitcoin, but people think only investing is the option.
Various Methods Of Earning Money Through Bitcoin
Mining:
If you are an expert in mathematics and programming, you can earn money through bitcoin mining. Bitcoin cannot produce into the air. It is created by miners who are experts in mathematics and programming. They have to solve complex mathematical equations to create new bitcoins. In simple words, mining means creating new bitcoins into the network or validating the bitcoin transactions, and you will get 6.25 bitcoins as a reward, and you can check the value of 6.25 BTC. If you want to earn money through bitcoin mining, you have to learn the skills such as mathematics and programming.
Trading:
Trading is simple, purchase bitcoin at the market price and then sell it when the price goes up. Trading is a prevalent form of earning money through bitcoin because the value of bitcoin increased and decreasing in high amounts. It is the game of knowledge that means knowing which is the right time to invest and how much money you have to invest in getting high returns. The simple meaning of your trading is to buy bitcoin at a low price and sell them at a high price, but it requires practical knowledge, and you can learn through practice, research, and by spending money in it. Many people are trading and earning high returns, and in their first time, they also have lost their money, but practice makes a man perfect. You can also earn money like the Pattern Trader
Investing:
Trading and investing are different terms. Trading means buying and selling bitcoin in one day or few days, but Investing means purchasing bitcoin and holding it for a long, duration and there is no risk at all. The price of bitcoin will increase after years, and the more time you can have more returns you will get. Bitcoin is a deflation currency that means the value of bitcoin will continually increase, and it will not stop or decrease. Check the current price of bitcoin and after one year, check again. The price is not the same as today. It will increase with time.
Accept payment:
If you are running your small business or large firm, you can go with bitcoin payments, which means you can accept payment in Bitcoin, which will help you to save money. Bitcoin’s transactional fees are deficient than other payment methods like credit cards and debit cards. There is no taxation because the government does not regulate it. Bitcoin is a decentralized system, and all the revenue you will earn through sales is 100% yours, and you can expand your business by accepting payments internationally.
Consulting:
Many people want to know more about bitcoin, but they do not trust the internet because there are various articles, and they get confused. If you know how to trade and what bitcoin is and how it works, you can charge them by sharing knowledge, and you can also earn through the bitcoin affiliate that will give you some percentage.
