Unless you have been living under a rock in the past ten years, you probably have heard of Bitcoin. In just ten years, the value of Bitcoin has reached tens of thousands of dollars and shows no signs of slowing down. If you have some Bitcoin, you may be wondering what the best way to make money from it is. Here is a guide to making quick money with Bitcoin.
What is Bitcoin
Bitcoin was invented in 2009 by the anonymous Satoshi Nakamoto after the 2008 financial crash. It is a cryptocurrency that is based upon blockchain technology. A blockchain is a series of blocks, with each block containing several transactions. Each Bitcoin transaction must be encoded and verified in the blockchain.
Since blockchain is transparent and every computer has access to the same blocks, people can see if anyone is buying an irregular amount of Bitcoin. To get Bitcoin, people have to “mine” it by using computers to solve complicated puzzles. The total supply of Bitcoin is 21 million, and there are more than 18 million available right now.
Invest in Bitcoin stocks
Microsoft is a good company to invest your Bitcoin in as they allowed the use of Bitcoin for payment in 2014 and have invested in Bitcoin. Nvidia is also another to invest your Bitcoins in. To mine for more Bitcoin, you need strong GPUs with high processing power, and Nvidia is a leader in this field. Paypal is a big player in the eCommerce space. In 2020, they allowed Paypal users to use Bitcoin as a form of payment. Since more users can buy and sell Bitcoin, Paypal’s stock prices are sure to rise.
For more info about bitcoin stocks, visit The Stock Dork website. The website will be your home for all things related to stock. Stay up-to-date with the latest stock news and be in the know of the latest stock trends and movements.
Why invest in it now
Within the past year, Bitcoin has surged in value. On January 1, the value of Bitcoin was around $7,200. By year’s end, the value jumped to around $28,000, a nearly 400% increase. Experts predict that by 2030, Bitcoin could be worth anywhere between $300,000 to $500,000.
Add to that that more established institutions are recognizing and accepting Bitcoin. It also helps that Bitcoin is a decentralized currency, meaning that it is not regulated by any government or bank, and there is no need for a middleman to transfer and exchange Bitcoin.
Ways to use bitcoin
Aside from investing in stocks, Bitcoin can be used in other ways. Bitcoin is slowly becoming a widely more accepted form of payment for different products or services. If you want to make some quick money with Bitcoin, have your store accept Bitcoin, and some of your customers will definitely pay you in that method.
This can work whether it is a physical store or an online business. There are also services like BitPay, which converts Bitcoin into a digital wallet to pay for goods and services. Major corporations like Microsoft and Expedia accept payment in the form of Bitcoin so there is no reason why you should do the same.
Other ways to invest
There are other ways to invest your Bitcoin aside from Bitcoin stocks. If you do not have any Bitcoin yet, visit bitcoin exchanges like Coinbase, Gemini, and Bitstamp. If exchanges are not your thing, there are also sites you can visit where you work jobs, and your payment is in Bitcoin.
Cryptogrind, Jobs4Bitcoins, Coinality all offer jobs that offer Bitcoin as payment. Bitwage is a website that converts a percentage of your work paycheck into Bitcoin. Digital currency is seen by many as the currency of the future, and Bitcoin is a cryptocurrency that is helping lead the charge.