Whether you got into Bitcoin 5 years ago or just the other day. You will probably want to know about all the ways in which you can make your Bitcoins work for you. How you can make them grow. What are some of investments currently on the table.
We will help you answer the above with our list of 5 ways to make money as a Bitcoin holder.
1. Lend your Bitcoins & USD on an exchange to other traders.
Bitcoin exchanges which offer margin trading facilities need people to lend their Bitcoins, crpto and US Dollars. If you choose this option you can expect medium returns, from 0.006% to 0.04% per day for Bitcoins and 0.08% to 0.2% for USD. Currently the market rates are at the lower end of the spectrum.
2. Invest in a Bitcoin or cryptocurrency casino.
Casinos cannot function without a bank roll. That’s where you come in. Invest your Bitcoins in a casino and you can get a share of the profit or loss. Most casinos run with a 1% house edge. This means that in theory the casino should make 1% profit of the amount wagered in the long run.
See thebitcoinstrip for a list of sites. CryptoGlue’s favourite is Just-Dice, but they use CLAM coin instead of Bitcoin.
3. Lend Bitcoins on a Peer to Peer site.
The returns can be high, anything from 5% to 25%. This premium does come at a risk though. The person you lend to could be a scammer or could default on the loan. It is up to you to carry out your own due diligence, which can be very time consuming.
5. Trade between alt currencies.
You can trade between Bitcoin and various alt currencies, this is a high risk, high reward strategy.
6. Buy low & sell high.
As always, you could trade Bitcoins on any exchange.
Summary:
CryptoGlue’s favourite way is to lend Bitcoins and other crypto on the lending books for margin traders, using a reputable exchange.
There are many websites out there that offer Bitcoin related investments and services. It goes without saying but if it looks too good to be true, it probably is. Please be diligent and do extensive research before using any of these services.
Disclaimer: We are not affiliated to any of the companies above. Invest at your own risk.
