How to make money from bitcoin
• Buying when the price is low and Selling When the price increases
This is what majority of newbies do with bitcoin. They buy bitcoin, wait for the value to increase and sell off to make profit. Then they wait for it to come down a little and get back in.Now, this process is probably the easiest and has the littlest risks. But the downside is, it may take longer and you might not be able to buy at a lower price like expected.
• Mining Bitcoin:
With paper money, a government decides when to print and distribute money. Bitcoin doesn't have a central government.
With Bitcoin, miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine. Bitcoin mining in its simplest from, is like printing your own money.
• Lending your bitcoin for profit.
You can lend your bitcoin to some trade sites and p2p sites and make profit like 10-14% yearly.
• Trading other cryptocurrencies with bitcoin.
Buy low and sell when its high.
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Great post. Very clear :D! +1 upvote ^^