Ways to Make Money with Bitcoin Without Holding It
Bitcoin is undoubtedly a lucrative asset that many people want to own. Since Bitcoin’s launch, cryptocurrency has become the most prominent digital asset. It’s not surprising that many people think about Bitcoin when they hear or read about cryptocurrencies. If you are new to Bitcoin trading, you can do so with complete confidence by using platforms like such as Immediate Edge App
Many digital currencies have emerged today, but none beats Bitcoin in market capitalization and popularity. Even some countries have developed their digital currencies. For instance, China, through its central bank, created a digital Yuan after banning Bitcoin.
Nevertheless, Bitcoin remains the king of crypto. And people make money with this pioneer cryptocurrency in several ways.
Maybe you want to make money with Bitcoin, but its volatility makes you fear investing. Well, you can make money with this cryptocurrency without owning it. Here’s how to make money with Bitcoin without holding it.
Use Bitcoin to Buy Gift Cards
You can make money with Bitcoin without actually owning it by purchasing gift cards from online retailers that accept cryptocurrency. For example, Gyft is an online platform that allows users to purchase gift cards with Bitcoin. After buying a gift card, you can use it to shop at various online and offline stores.
Participate in Bitcoin Affiliate Programs
Another way to make money from Bitcoin is to participate in affiliate programs. When you join an affiliate program, you receive a unique link that you use to promote a product or a service. When a buyer or prospect clicks on your link, signs up for a service, or buys a product, you receive a commission. The commission amount depends on the platform, but it is usually a percentage of the transaction value.
Bitcoin Lending
Also, you can make money by lending out your Bitcoin. Many platforms allow users to lend their Bitcoin to others and earn interest on their investments. When you lend your Bitcoin to a borrower on these platforms, you can earn up to 1% interest per month. Thus, you avoid holding Bitcoin in your crypto wallet but still make money with it.
Bitcoin Mining
Another way to make money with Bitcoin is to mine it. When you mine Bitcoin, you validate transactions on the Bitcoin blockchain and earn rewards for your efforts in the form of cryptocurrency. The amount of cryptocurrency that you make depends on the hashing power that your mining rig has.
To start mining Bitcoin, you must join a mining pool and download special software. Then, you need to set up your mining rig and earn rewards. Keep in mind that mining is a very resource-intensive process. Nevertheless, you can lend or sell the Bitcoin you receive as a reward if you don’t want to hold it.
Don’t Fear Holding Bitcoin
Even though there are several ways to make money with Bitcoin without owning it, you may not want to do that. The reason is that the value of Bitcoin can increase very quickly, and you may miss out on profits if you don’t own any.
In addition, holding Bitcoin has become easier than ever, thanks to the development of cryptocurrency wallets. These wallets allow you to store your Bitcoin and access it easily when needed securely.
Parting Shot
Bitcoin’s popularity continues to grow globally, attracting more investors and traders. If you don’t want to own or hold Bitcoin, you can use the methods discussed in this article to make money with it. Each of these methods has a certain amount of risk. Nevertheless, they can be profitable. So, if you want to earn with Bitcoin, consider trying one of these methods. Regardless, don’t fear owning Bitcoin because you could make good returns from your holdings should the price increase. Also, you can choose a secure crypto wallet and use it to hold your assets safely.