Last updated on December 31st, 2019 at 07:00 am
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The world is evolving and Blockchain Technology is taking over. The new mode of payment aside fiat which is cryptocurrency is gaining wide adoption. Bitcoin is a digital money or currency that is used for online transactions leaving no trace of the sender or receiver’s identity. That is the beauty of Blockchain Technology. Anonymous Transactions.
Bitcoin has made some people reach. The base currency of all cryptocurrency BTC can be used to make money either as a part time or full time worker. It’s use cases abound which can be used to generate streams of income. The known strategies includes:
Pay For Goods And Services : Businesses, merchants and traders can use Bitcoin as a payment gateway for it’s services. Bitcoin can be used to pay for pizza, buy airtime, trade commodity and buy other assets. Anyone can decide to start accepting bitcoin and use it for accepting payments. Schools, hospitals, organizations and firms can accept payments in bitcoin and sell same for fiat. With an increase in price of bitcoin, income will be generated.
Investment Purposes : Bitcoin can serve as an area of investment for investors who wish to invest in bitcoin. One can decide to buy and store bitcoins in other to generate passive income in the long run should it appreciate in price. Through this avenue income is generated when it’s sold at a price higher than the cost price.
Trading Digital Assets : Bitcoin can be used to generate funds when traded in Cryptocurrency Exchanges. It can also be used to trade against other digital assets like Ethereum, Waves , Turtlenetwork etc. In Cryptocurrency Exchanges, Bitcoin is usually the base currency with which other currencies can be traded. It’s usually the Bitcoin Market. Which makes it a store of value for generating income.
Government can use bitcoin for her payments. It’s beneficial to the labour market when paid in bitcoin because they can generate passive income when it’s price increases. Individuals employed by different stratas of the government will benefit when he or she receives bitcoin as his or her payments.
Individuals can generate money when they sell these bitcoin at a higher price against fiat. This means that one who bought one bitcoin at $5000 per BTC can sell same at $6000 per BTC to anyone in cases of urgency. Bitcoin can also be sold at 400 Naira per 1 USD against the market price of 360 Naira let 1 USD. People make alot of money utilizing these strategies.
DISCLAIMER :
this is not an investment advice. Readers should make due research before adopting any strategy mentioned above. Diutocoinnews will not be held responsible for any damage or loss that may occur as a result of using the above strategies. Bitcoin (cryptocurrencies) is a high risk investment.
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Nsikanabasi Edet