Where And How You Can Use Your Bitcoin Crypto In 2022Jan 14, 2022, 3:56PM
Bitcoin (BTC) has grown in popularity over the years and has become the leading form of distributed cash and top cryptocurrency.
To date, the creator of Bitcoin is still a mystery. However, you can still make money with BTC if you’re an enthusiast crypto investor.
Deciding on the best route isn’t simple, as there are several options to choose from.
How to Buy Bitcoin on Independent Reserve
There are many cryptocurrency exchanges like Independent Reserve around to help you get started. Below is a step-by-step process on how you can buy bitcoin:
Open an account: A digital currency platform like Independent Reserve is safe, fast and data protection is a key component of its design.
Authentication: On most exchanges, you have to secure your account to protect it from fraud. Local regulations require you to verify your identity. This process is fast and can be done using your phone.
Deposit money: You can use PayID or NPP to make instant deposits into your account at any time. You can make deposits using an EFT bank transfer, but it will take longer for your money to reflect in your account.
Purchase BTC with ease: Simply enter the amount of money you wish to spend or the amount of BTC you want to purchase.
Preview and Verify your purchase: Click on the “preview buy order” icon to verify your order details, then click on the “place buy order” icon. Once you’ve completed your purchase, the BTC deposit will reflect in your account.
How to Sell Bitcoin on Independent Reserve
Open an account: It will take five minutes or less to sign up and upload your ID for verification.
Transfer: You can transfer BTC cash from another exchange platform to the Independent Reserve exchange so that you can trade it. If you prefer payment in BTC Cash, you can get it transferred here and change to cash.
Sell and withdraw: Once you’ve made a sale, you can transfer the money directly into your bank account.
How to Make Money With Bitcoin
1. Buy and Hold BTC
One of the best ways to make money with BTC is through the buy-and-hold approach. The buy-and-hold approach is among the most straightforward and beginner-friendly techniques to earn money with digital currency.
The time you choose to hold depends on your priorities—it could be months, years, or weeks. And this is probably why most investors love this approach.
The buy-and-hold approach has become so popular that people have nicknamed it “HODL.” This acronym was initially a typo on a forum and later became a contraction for Hold On for Dear Life.
So if you decide to use this approach, do not forget to hold on to Bitcoin for dear life.
2. Earn Some Interest with BTC
There’s a new tool you might find helpful if you wish to hold your BTC for some time; earning some interest with BTC.
It’s possible to earn extra money from interests on your crypto every week. Earning BTC interests work like a savings account, where you keep your cash to make some extra cash.
3. Earn Bitcoin Cashback
Several payment giants globally have begun to test the crypto waters.
Interestingly, this has opened the way for several crypto users to unclose and relish new financial chances with their Bitcoin while using credit cards.
A case in point is the BlockFi Rewards Visa Signature Credit Card which rewards users with crypto instead of the regular points or miles.
Cardholders can also earn 1.5% to 3.5% cashback, automatically converted to BTC and kept in a BlockFi account every month.
4. Leverage Affiliate Programs
Another alternative way of making cash with Bitcoin is by taking advantage of affiliate programs. Most companies apply this kind of marketing to capture new clients.
Affiliate marketing is about incentivizing the present users to invite their family and friends to the business and then earn a commission upon bringing a new customer on board.
Affiliate programs are everywhere in the market, but they differ significantly. Understand each one carefully and choose the best program you wish to promote.
5. Accept Bitcoin Payments
As BTC becomes more popular, many businesses accept BTC payments for their services and goods.
If you’re operating a business and aspire to bring in money with Bitcoin, don’t hesitate to accept it as a payment option. By accepting bitcoin as a payment method, you’ll also be extending your reach and attracting more customers.
You’ll make transactions easily accessible to clients who lack credit cards or bank accounts.
If you have a physical establishment, begin by placing a sign at the front of the store to notify customers. You could also use a payment intermediary or place a banner on the home page of your online business.
6. Become A Masternode
A master node is a dedicated title role that monitors blockchain in real-time. They’re usually up and running, just like Bitcoin’s full nodes.
Besides validating, saving, and reporting valid transactions to different nodes, the master nodes also carry out various duties with the blockchain, like governing voting events, smooth protocol operations, and others.
Start Using Bitcoin Today
The high liquidity linked with Bitcoin makes it an excellent investment vessel if you're up for short-term gain. Bitcoin may also offer long-term investment schemes because of its high demand in the market and lower inflation chance.
If you’re a large-volume trader, you should use Independent Reserve, which has trading fee discounts that are excellent in value. You can waive the deposit fees and acquire insurance cover to protect you against eventualities.
Hesitate no more and try Independent Reserve now.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.