What strategies should I follow to earn money with bitcoin in 2017?

5 answers

• Dec 16, 2021 · 3 years ago
  Sure, here are a few strategies you can consider: 1. Buy and hold: One common strategy is to buy bitcoin and hold onto it for the long term. This approach relies on the belief that the value of bitcoin will increase over time. However, it's important to do your research and only invest what you can afford to lose. 2. Trading: Another strategy is to actively trade bitcoin. This involves buying and selling bitcoin with the goal of making a profit from short-term price fluctuations. It requires knowledge of technical analysis and market trends. 3. Mining: If you have the technical know-how, you can mine bitcoin. This involves using specialized hardware to solve complex mathematical problems and earn bitcoin as a reward. However, mining can be resource-intensive and may not be profitable for everyone. 4. Investing in ICOs: Initial Coin Offerings (ICOs) have gained popularity in recent years. They allow you to invest in new cryptocurrencies before they are listed on exchanges. However, ICOs carry a higher level of risk compared to established cryptocurrencies like bitcoin. Remember, these strategies come with their own risks and rewards. It's important to do your due diligence and consult with experts before making any investment decisions.
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• Dec 16, 2021 · 3 years ago
  If you're looking to earn money with bitcoin in 2017, here are a few strategies you can consider: 1. Dollar-cost averaging: Instead of trying to time the market, you can invest a fixed amount of money in bitcoin at regular intervals. This strategy helps to reduce the impact of short-term price fluctuations and allows you to accumulate bitcoin over time. 2. Staking: Some cryptocurrencies, like Ethereum, allow you to earn passive income by staking your coins. Staking involves holding your coins in a wallet and participating in the network's consensus mechanism. In return, you earn additional coins as a reward. 3. Peer-to-peer lending: If you have some bitcoin to spare, you can lend it to others and earn interest on your loan. Platforms like Bitbond and BTCPOP facilitate peer-to-peer lending in the bitcoin ecosystem. 4. Freelancing and accepting bitcoin as payment: If you have a skill or service to offer, you can consider freelancing and accepting bitcoin as payment. This allows you to earn bitcoin directly and potentially benefit from its future price appreciation. Remember, investing in bitcoin and other cryptocurrencies carries risks. It's important to only invest what you can afford to lose and diversify your portfolio.
  1240414
• Dec 16, 2021 · 3 years ago
  To earn money with bitcoin in 2017, you can try the following strategies: 1. Buy and hold: This strategy involves buying bitcoin and holding onto it for an extended period. The idea is to benefit from the potential long-term appreciation of bitcoin's value. However, it's important to research and choose a reputable exchange to buy from. 2. Trading: If you have experience in trading, you can try your hand at bitcoin trading. This involves buying bitcoin at a low price and selling it when the price goes up. Keep in mind that trading can be risky, and it's important to have a solid understanding of market trends and analysis. 3. Participate in a lending platform: Some platforms allow you to lend your bitcoin to others and earn interest on your investment. This can be a passive way to earn money with bitcoin, but it's important to choose a reliable lending platform. 4. Invest in bitcoin-related startups: If you have a keen eye for promising startups in the bitcoin industry, you can consider investing in them. However, this strategy requires careful research and due diligence to identify the most promising opportunities. Remember, earning money with bitcoin involves risks, and it's important to stay informed and make educated decisions.
  1251313
• Dec 16, 2021 · 3 years ago
  To earn money with bitcoin in 2017, you can follow these strategies: 1. Buy and hold: This strategy involves purchasing bitcoin and holding onto it for a long period of time, with the expectation that its value will increase. It's important to choose a reputable exchange and consider storing your bitcoin in a secure wallet. 2. Trading: If you have experience in trading, you can try your hand at bitcoin trading. This involves buying bitcoin at a lower price and selling it at a higher price to make a profit. However, trading can be risky, and it's important to have a solid understanding of market trends and analysis. 3. Participate in a lending platform: Some platforms allow you to lend your bitcoin to others and earn interest on your investment. This can be a passive way to earn money with bitcoin, but it's important to choose a reliable lending platform. 4. Invest in bitcoin-related projects: You can consider investing in projects that are built on the bitcoin blockchain or are related to the cryptocurrency industry. However, it's important to thoroughly research the project and evaluate its potential for success. Remember, investing in bitcoin carries risks, and it's important to only invest what you can afford to lose.
  1240248
• Dec 16, 2021 · 3 years ago
  When it comes to earning money with bitcoin in 2017, here are a few strategies you can consider: 1. Buy and hold: This strategy involves purchasing bitcoin and holding onto it for a long period of time, with the expectation that its value will increase. It's important to choose a reputable exchange and consider storing your bitcoin in a secure wallet. 2. Trading: If you have experience in trading, you can try your hand at bitcoin trading. This involves buying bitcoin at a lower price and selling it at a higher price to make a profit. However, trading can be risky, and it's important to have a solid understanding of market trends and analysis. 3. Participate in a lending platform: Some platforms allow you to lend your bitcoin to others and earn interest on your investment. This can be a passive way to earn money with bitcoin, but it's important to choose a reliable lending platform. 4. Invest in bitcoin-related projects: You can consider investing in projects that are built on the bitcoin blockchain or are related to the cryptocurrency industry. However, it's important to thoroughly research the project and evaluate its potential for success. Remember, investing in bitcoin carries risks, and it's important to only invest what you can afford to lose.
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