Thursday, November 1, 2018

How To Make Money With Bitcoin

How To Make Money With Bitcoin












Well if you haven't read my previous posts on how to make money with Bitcoin, then check them out here - How To Earn Free Bitcoin and Ways To Earn Free Bitcoin. In this post, I'll present to you the most exclusive way on how to make money with bitcoin. As there are numerous ways, we'll filter out the most common ones and the ones that have already been discussed earlier. This one way to make money with bitcoin is absolutely new and is known only to a few. Check this out below and suit yourself.

MASTERNODE:

Everybody is running after earning bitcoins by joining PTC sites, mining bitcoins or trading other cryptocurrencies. Little do people know that you can easily make money with bitcoins by doing absolutely nothing. Yes Masternode is the answer.

As and when some new coins are launched you can either mine them which is of course very slow and has turned out to be very expensive lately due to hardware and electricity costs and due to the rising difficulty level of bitcoin algorithm. Or there is another way to buy the new coins when they are launched for very cheap price and hold on to them until the price rises and then sell them off for huge profits.

There are generally 2 main ways to make money with cryptocurrency - PoW (Proof of Work) and PoS (Proof of Stake). PoW is nothing but crypto mining. If a coin is based on PoW then you get paid for putting your computer to work and do the mining and solving hashes for that coin. On the other hand PoS coins cannot be mined. They simply pay you for holding a certain amount of coins in your wallet for a long period of time. They pay you quarterly, half-yearly or yearly based on their terms. So, it's just like earning interests over a period of time for just holding the coins in your wallet.

But, Masternode is completely different. For this you need to buy a VPS and set up the masternode as per the instructions on coin website and it's done. It requires initial investment though, as you need to pay a certain amount of coins to own the masternode and then it is lifelong residual income. You earn from every transaction that happens for that coin. For every Buy/Sell order of that coin your masternode acts as a channel to transmit and successfully complete the transaction for any user in the world, hence a portion of the coin is deposited in your account daily/weekly/monthly for as long as your masternode remains active. It's just like earning mining fees when we send or receive bitcoins.

For some coins, setting up a masternode is easy while for some it's a very complex and gruelling task. If it is not set up correctly, then you might lose your coins. So, if you have little knowledge about bitcoins, cryptocurrencies, altcoins, mining, masternodes but still if you're interested to make money with bitcoins and other altcoins then I'd suggest you to hire someone who would set up the masternode for you. There are many freelancers available online who would do the job to set up the masternode for you for very small amounts like $100 - $200. You can also have their skills at your disposal to do masternode maintenance after certain intervals of time.

Nevertheless, I personally feel masternode is the most effective and safe way to make money with bitcoin or any other cryptocurrencies. Once set up, this becomes your lifelong residual income to make money with bitcoin or that particular coin you're dealing with. Just an initial investment of around $200 - $50,000 is what it takes depending upon the value of the coin you're dealing with. Remember the greater your investment, the greater is your daily/weekly/monthly income. If the price of the coin remains same or further increases overtime, then you shall recover your initial investment in just a month or two. Thereafter, it's lifelong profit for you from that coin.


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