Earn Bitcoin money: 10 easy ways in 2022

Earn money with cryptocurrency: the most important things in brief

Option 1: Buy Cryptocurrencies (Crypto HODLing)

The most obvious way to be able to make money from cryptocurrencies is to simply buy them and then hold them. After all, Bitcoin  Co. were not founded to be able to get rich quickly with Bitcoins, but primarily pursue a profound and completely revolutionary approach: to create an independent and decentralized financial system that cannot be controlled or manipulated by central banks and governments.

Precisely because of this incomparable importance, it makes sense to hold cryptocurrencies for the long term so that you can steadily earn bitcoin just by “HODLing”, as it is called. Because history has already shown that holding Bitcoin for a long time is rewarded and you can therefore make money with crypto. No Bitcoin owner has ever lost money by holding their cryptos for at least 4 years.

Incidentally, the term “HODLing” or “hodling” was coined in 2013 when a crypto trader published the typo “I AM HODLING” in a forum . He wanted to express that he would hold Bitcoin and thus be able to earn crypto money in the long term, even if the price at the time went down (for a short time). Since then, the term has shaped the crypto scene.

The advantages of crypto hodling are obvious: if you want to earn money with this method thanks to Bitcoins, you only have to buy crypto currencies and put them in your crypto wallet . It is therefore very easy to use. Thanks to prices that are most likely to rise over the long term , you can look forward to considerable profits after a few years.

Although the history does not provide any information about the future, given the scarcity of the commodity, the protection against inflation, the positive Bitcoin forecasts and the new technology, the chances of rising prices are very good , so that you can continue to earn money with cryptocurrency in the future.

If you want to start earning Bitcoin directly with this method, you can open an account or a crypto wallet with one of the numerous crypto brokers and thus buy Bitcoin directly. Other cryptocurrencies are also possible. In the Coincierge test of the best providers, eToro was able to prevail, which can convince with a simple user interface, very low trading fees or a level of security that is hardly achieved compared to other crypto exchanges thanks to regulation in the European Union and European deposit insurance.

Option 2: Trade with cryptocurrencies (crypto trading)

Anyone who finds holding pure cryptocurrencies too boring or who would like to tap into additional potential in order to be able to earn money with Bitcoin can also actively trade in cryptocurrencies . With so-called crypto trading , there are various ways to achieve a higher return than just holding it and thus come a little closer to the dream of being able to get rich quickly with bitcoins.

These options include:

All of these trading strategies also require a crypto wallet and a depot at a Bitcoin exchange . Thanks to the clear and fast crypto app , eToro is also a solution for crypto trading , so that you can access your cryptocurrencies at any time and earn money with bitcoins on the go.

eToro is also ideal because it offers a free demo account . Anyone who wants to trade successfully and thus earn Bitcoins via app needs experience, patience and a strategy. These can best be learned with a demo account, in which virtual capital can be invested without risk .

A special feature of crypto trading is the leverage function , which allows investors to make money with crypto much faster with little effort - at the same time with a much higher risk. Leverage products are financial investments in which positions can be opened that go beyond one's own investment volume. This can result in higher profits, but of course also higher losses at the same time. This means that many bitcoins can be accumulated quickly – but a total loss can also be recorded just as quickly.

Option 3: Earn interest for cryptocurrencies (crypto staking)

Crypto staking could be a suitable option for anyone who has bought Bitcoin or other currencies but still wants to earn money with these cryptocurrencies. The big advantage here is that almost no time is required and you can easily earn additional bitcoins.

Technically, crypto staking is sort of the counterpart to mining. Instead of mining bitcoins, some cryptocurrencies are based on providing liquidity , known as staking. The main cryptocurrencies that rely on the so-called proof-of-stake mechanism, so that one can make money by staking crypto, include Cardano , Tron and Ethereum .

Much more important for everyone who is wondering “can you make money with cryptocurrency” is the practical function of crypto staking, because this effectively works in a similar way to interest from a bank. While fiat currency interest rates at most banks can't even withstand inflation anymore, bitcoin (or other cryptocurrency) interest rates are a lot higher when staking, so you can make extra money with cryptocurrencies.

Interest rates of between 5 and 10% per year are often possible (in addition to the price return) if you invest your money in bitcoins. However, the provider with the highest promise of interest should not be chosen blindly, because there are now some dubious providers, similar to banks. Instead, you should find out beforehand about the credibility of the staking platform. eToro and crypto.com are particularly suitable for starting with crypto staking:

Another way to earn money with Bitcoin is crypto lending , the so-called lending of cryptocurrencies. While the technical approach is completely different and relates to lending, it is effectively similar to crypto staking in that lending also allows you to put your cryptocurrencies on a crypto exchange and earn bitcoins in the form of interest.

The platform risk should also be taken into account when lending, as you give your coins into other hands. However, since the loans are often fully secured with the borrower’s cryptocurrencies, the risk of default is at least low. Assuming interest rates between 5 and 20% , this could be a promising way to earn money passively with cryptocurrency without spending a lot of time.

Well-known providers in the field of crypto lending are Nexo, Kucoin or Binance .

Option 5: Copy other investors (social trading)

If you want to make money trading cryptocurrencies, but don’t want to spend a lot of time and learning, you can take a closer look at so-called social trading or copy trading . Here you copy other, often semi-professional investors and can therefore not only participate in their investment decisions, but also in their returns and thus earn a lot of bitcoins.

The leading social trading provider worldwide with over 20 million registered users is eToro, where the portfolios of over 50,000 investors are ready to be copied. Many investors have mixed portfolios of crypto and stocks, but pure crypto portfolios can also be copied at the push of a button through copy trading at eToro.

Thus, one can benefit from the advantages of trading and earn money with Bitcoins without investing a lot of time in research and market observation . Of course, one should take a close look at the possible portfolio to be copied and the underlying strategy, since losses are also possible.

So-called crypto trading robots are just as little time-consuming way of making money with Bitcoin . These are automated programs that use algorithms to automatically buy and sell cryptocurrencies, trying to make a profit. The promised returns on getting bitcoins can vary between 20% and 350% per year.

However, with such promises of returns, it is extremely important to check the providers carefully. Many of these programs, which are said to allow you to quickly make money from Bitcoin trading, have proven to be frauds in the past , as some of the Coincierge experiences show. Detailed test reports about Bitcoin Bots can be found in the articles about Bitcoin Profit , Bitcoin Era , Bitcoin Revolution or BitQT , among others .

Option 7: Earn bitcoins with crypto cashback or crypto credit cards

If you want to earn money with cryptocurrency in everyday life, you should take a closer look at Crypto Cashback. These are rebates that can be used to collect Bitcoins from daily purchases.

Especially in the long term and in view of rising Bitcoin prices , these programs are very interesting because they can make the actual product you want to buy a lot cheaper . Whether it's travel, books, clothing, entertainment or even food - you can earn extra crypto with cashback everywhere.

Crypto credit cards in particular are an interesting form of crypto cashback. Often you have to deposit a certain number of coins of a crypto currency as a deposit (staking) and can then earn money with bitcoins with every expense that is paid for by credit card. There is already plenty of experience in this regard.

The crypto.com and Binance credit cards are among the best and most popular on the market. The crypto.com credit card in particular can score with a staking of just 350 euros with enormous advantages such as 2% cashback on all expenses, very good foreign currency fees and a free Spotify subscription, making it currently the market leader. With a higher staking stake, a cashback of 8% is even possible , so that you can indeed earn a lot of Bitcoins (or other cryptocurrencies) very quickly.

Another way to earn money with cryptocurrency for free is the so-called Bitcoin Faucets. These are websites where users can earn bitcoins or other cryptocurrencies by rewarding them for small jobs .

The term "faucet" comes from the fact that the amounts to earn bitcoin on these websites are relatively small and trickle like drops of water from a faucet . Bitcoin faucets are therefore not suitable for getting rich quickly with bitcoins.

The tasks that have to be fulfilled here differ depending on the provider. From advertising blocks to watching videos to participating in quizzes, links or running captchas, there are many ways to make money with cryptocurrency. In most cases, the bitcoins are credited to the user account after the work is completed and can then be sent to the user's wallet.

Users should note that the tasks are rewarded according to effort and are not scalable. In addition, the rewards for making money with Bitcoin in this way are not too lavish. However, Bitcoin Faucets are an interesting pastime , for example to be able to earn money with cryptocurrencies in the evenings next to the film.

Option 9: Earn Bitcoin with referral marketing (Bitcoin Affiliate)

In affiliate marketing, money can be made through crypto recommendations. Crypto brokers, for example, often offer the opportunity to refer friends through a recommendation link and thus receive a credit in Bitcoin.

If you want to earn a lot of bitcoins more professionally and much faster, you can apply to the affiliate marketing program and thus advertise specific platforms in a targeted manner . Marketing can then be built through a dedicated website, social media or email lists.

The Bitcoin exchanges in particular offer attractive rewards for making money with cryptocurrencies. Depending on the provider and affiliate marketing program, the fees and conditions may vary. Here it is worth taking a strategic approach, comparing the offers with each other and doing targeted marketing for certain providers in order to earn as many bitcoins as possible.

When asked “can you make money with bitcoin” many people think of bitcoin mining first . In order to understand the entire mining process and the possibility of earning cryptocurrencies with it, it is necessary to have at least a basic knowledge of the blockchain network. Bitcoin mining is the process of adding transaction records to the blockchain . Mining confirms and secures these transactions.

Here, the miners use their computers to solve mathematical problems in order to provide proof of execution, the so-called Proof of Work (PoW). Miners can hope for rewards in the form of bitcoins once the calculator has solved the math equation, making money from bitcoin automatically and passively.

The problem: not only is the hardware for the complicated computing processes expensive, the power requirement is also enormous. For this reason, bitcoin mining is hardly profitable in Central Europe , so it is not the best option if you want to make money with bitcoins.

An alternative is cloud mining , which has the advantage that users do not have to invest in expensive hardware or software in order to be able to earn money with mining.

Step 1: Create a Bitcoin trading plan

Before beginners get started right away and plunge into trading with bitcoins, it is advisable to create a precise plan of the trading strategy as a first step. First of all, it is important to think about your own trading goals.

For example, if you want to make a lot of money quickly and are willing to take a big risk, you will proceed differently than someone who wants to get rich slowly but steadily through Bitcoins.

Whatever the goals may look like, as a first step it is advisable to think carefully about where the journey should actually go. For example, do you only want to invest in Bitcoins and other digital currencies, or are you willing to include other investments such as ETFs and shares in your own trading portfolio? How large should the percentage of Bitcoins in the total volume be? Do you want to own coins yourself or are derivatives enough?

The initial plan ensures that investors have a road map that makes later trading decisions and actions a whole lot easier.

Step 2: Find the right bitcoin trading platform

Once the plan has been finalized, it is time to put it into action. As a next step, it is important to find out about the respective Bitcoin trading platform on which you want to invest in a digital currency or other trading instruments in the long term. Here you should not only deal with the costs of the Bitcoin trading platform, but also check the general offer and, above all, the credibility of the respective provider.

If, for example, online brokers promise too much, millions in profits or the like, are based abroad and are not regulated by an EU financial authority, there are bad user experiences on the net and aggressive marketing promises are needed, these are all signs that investors are leaving search and decide on another bitcoin trading platform.

At this point we recommend the globally popular online trading platform eToro , which convinces with state regulation, transparent fees, an extensive range and an intuitive trading platform.

Step 3: Learn technical analysis

In order to ensure that investors make informed decisions when trading, it is imperative to develop a solid understanding of technical analysis or how the markets work. The main aim here is to be able to use market data to draw conclusions about where the price trends will develop in the future . We therefore recommend that beginners take a look at various factors at the beginning.

• For example, one of the first important factors for Bitcoin trading is the trading volume . Trading volume is often taken as an indicator of general interest in an asset. When trading volume is low, it can mean that there is a lack of confidence in the markets. If the volume is suddenly very high, this can be due to market signals that send out incentives to buy or sell, for example.
• Furthermore, investors should definitely learn to interpret candlesticks . Candlesticks represent the price of an asset at a specific point in time. The lowest and highest point of a candlestick shows the price difference within a period chosen by the user.
• Now that beginners have gotten a little deeper into candlesticks, it's time to learn about averages . The SMA (Simple Moving Average) and the EMA (Exponential Moving Average) should be mentioned here.

Since, of course, not everything can be learned overnight, it is advisable to open a free demo account with an online broker to learn technical analysis step by step. With our test winner eToro, for example, there is a free and unlimited demo account for risk-free testing.

What do you have to consider when trading?