Bitcoin continues to be one of the best-performing assets in 2020. Aside from being an investment option, bitcoin has also created an industry that allows you to make money.
In this article, we will explore the top 3 ways to make money online with bitcoin in 2020.
Bitcoin and cryptocurrencies have created several ways to make money online. One of the most popular use cases of bitcoin is trading or speculation. You can trade bitcoin on an exchange or marketplace like Paxful. Making money through this method could be done in a simple manner or in very complicated ways that come with higher risk.
Making money online with bitcoin via trading involves speculating on the price of cryptocurrencies. For instance, some traders sell a coin that has risen in price and wait for it to fall. When it falls in price, they buy more coins with the profit they made initially from selling.
You can trade futures contracts, arbitrage, or simply buy and sell. Also, you will need to understand how news affects prices, learn how to read charts and trade in a way that lowers the risk. Some skills traders use include the ability to interpret charts (technical analysis and fundamental analysis).
Paxful is a great platform to get started with bitcoin trading in Africa. It will enable you to make your first bitcoin purchase with over 300 payment methods and allow you to sell at any time with any payment method.
To have the best experience with trading, you should get a deep understanding to avoid huge losses.
Get A Job That Pays In Bitcoin
2020 has been a great year for online work due to the ongoing pandemic. The cryptocurrency industry is filled with several open positions that allow you to work from home.
You can find several jobs that pay in bitcoin. You can do micro jobs or full-time jobs. Micro jobs are small tasks that pay small amounts of bitcoin (satoshis). Tasks range from watching videos, clicking apps, completing captchas, and filling surveys.
On the other hand, there are several mainstream jobs available in the crypto space. You can find a job as a graphic designer, developer, content writer, community manager and so much more. There are different places where you can find these jobs. Major freelance websites like Upwork list jobs in the crypto space. Also, there are several bitcoin specific freelance websites you can check to find jobs that pay in bitcoin (BTC).
Affiliate programs are a great method to make money online with mobile money. These programs reward you for referring people to use a product or service online.
Different platforms use various reward types. Some platforms pay a percentage of what your referral spends as commission. On the other hand, others pay a flat fee per referral. In the crypto space, several platforms like exchanges and wallet providers have affiliate programs.
For instance, Paxful has a regular affiliate program for all users, where they earn a commission for every trade done by people they refer to the platform. What’s more, they have another affiliate campaign called the Paxful Peer Program.
Paxful Peer Program
An affiliate program that deserves a mention is the Paxful Peer program. The entrepreneurship affiliate program by Paxful presents a unique opportunity for people on the African continent to develop in the blockchain space, become thought leaders, and earn passive income.
The campaign provides tools for educators, influencers, and marketers to promote the Paxful platform. Paxful peers get a commission for every referral, access to the Paxful team, and funds for events in their locality.
This affiliate program sets itself apart as participants do receive not only a commission but also get the chance to build their capacity as thought leaders in the space.
To get started with being a Paxful Peer, interested persons need to check out the peer page on the Paxful website and fill a form to show interest. Applications are then reviewed, and interviews are arranged. Applicants that pass the interview are then added to the Peer program.
After you get accepted to the Peer Program, the real work then begins. You will then have to bring new users to Paxful through promotions on social media and other channels.
There are several ways to make money online with bitcoin. However, several projects promise to help you make money with bitcoin that does not do that but waste your time or attempt to scam you. Remember to always investigate applications before you use them.