How to profit from Bitcoin?
In 2017, if you joined cryptocurrency market on the right moment (preferably beginning of the year), your rate of return would be in many cases (like with Bitcoin) would easily exceed 1000%.
This means investing in cryptocurrencies is so far one of the best investments of XXI century. Still, in 2018 we have heard already number of times that "bitcoin is dead". In this article, we will prove that these words are at least a big exxageration. Below we will shortly describe three main ways how to profit from Bitcoin.
First of all, remember that Bitcoin, just like all other cryptocurrencies is nothing but an online digital currency. Therefore just like all the regular currencies, like dollar or euro it can be traded online (this is also known as forex market).
In such way, you use fundamental and technical analysis to predict if the price of Bitcoin will rise or drop over some time.
With fundamental analysis, you do so thanks to news -including statements from officials, VIP's or reports.
With technical analysis, you analyze the chart showing the change of the price of Bitcoin or any other cryptocurrency - and trade basing on patterns you can trace.
Second way, which is to simply mining Bitcoin. Here, the thing is that BTC (like most popular cryptocurrencies) can be mined with mainly profits using specialised, high class and high cost computers for advanced calculations ( such device is also known as a mining rig). Other devices, like home computers or mobiles will be ineffective, and usually will not even be able to cover the costs of electricity you use.
Third way is known as "hodl" and its supporters are known as "hodlers". This term came from misspelling the word "hold" in 2014-2015, when we had, just as with stock market - a bitcoin recession. Some of the people who bought Bitcoin when it was bit over over $1200 had slowly seen it's price to drop to the low of $250 in 2015. Those who decided to keep it until December 2017 were rewarded - the highest Bitcoin price reached then almost $20000. Many of those holders claim, that the situation from 2014-2014 is simply repeating itself.
To sum up, there are three main ways how to profit from Bitcoin and other cryptocurrencies:
1) to trade cryptocurrency, like BTC you previously bought (here is the link how to buy Bitcoin on our website), in almost same way as you do with traditional assets (regular currencies, gold or stocks) either by using charts or news. This is one of the most popular ways to make profits from cryptocurrencies, especially due to volatility of Bitcoin and altcoins.
2) to mine cryptocurrency using a mining rig. This requires having or renting specialized device, paying for electricity (which in many countries can make mining not profitable at all!) etc.
3) to buy Bitcoin now, and wait patiently as a hodler, for a year or more, when the situation on the market would repeat once again 2017.
Therefore there are still plenty of opportunities to make profits in the cryptocurrency market. It is up to you which to choose before bitcoin history price from 2015-2017 will repeat itself.