Finding ways to grow your Bitcoins is still a hard thing to do nowadays. It’s already stated why Bitcoin is the best crypto investment, but how will you grow, or even quadruple, your assets on it? There are actually common sense ways on how you’ll expand your investments. Some are just around the corner of the web while a few only need your self-discipline.
Mining at this point in time wouldn’t be a practical choice. About 80% of the market cap is already in circulation and competing with crypto geeks will be a punch in the face. Though it’s not included in my list, you can still consider mining your Bitcoins, however, take into consideration the time and effort you’re going to exert.
1. Let it grow and appreciate
One way to grow your Bitcoin investment is to let it appreciate over time. Right now, Bitcoin is forecasted to reach the $6,000 weeks ago even though it made a sudden slip of $300 in a matter of days. The only risk is that volatility might not side with you at times. But if you’re willing to wait for the next pump, you can earn more when you trade.
The trick here is patience. Don’t trade every day because you’ll lose the opportunity when the price spikes up. But you shouldn’t just wait. You should devise an investment strategy to prepare for whatever that will come your way.
2. Put aside at least $50 off your every paycheck
This is a no-brainer. You just need to have the discipline of saving $50 every paycheck so you can buy Bitcoins in the future. Though small, this will accumulate in the future. If you can save more, it would be better on your investments. You know why Bitcoin is the best crypto investment and I guess this would be a little sacrifice on your end.
I suggest that you bank the money so you can reduce the temptation to spend it. You can just cut-off a fancy dinner with friends every month and just invite them over to your house. There are many ways to save money if you’ll stick to it. Anyway, 50 bucks aren’t that hard to put aside if you’re thinking of earning more off cryptocurrencies.
3. Buy during the dump
This is another no-brainer tip. Buying during the dump means that Bitcoins are cheaper and you can get more on using your savings. Purchasing Bitcoins on a pump will mean losses to you once volatility decides to shed Bitcoin a few hundred dollars. This is a rule of thumb for every investor, especially for beginners who are planning to quadruple their investments.
Acquiring Bitcoins during a crash is also a wise choice. It will be less risky and you’ll probably get Bitcoins at the lowest possible price now that it’s increasing circulation. There are no regular crashes these days, but a few, almost normal slips.
4. Why Bitcoin is the best crypto investment? Because you can accept it as payment
If you have a business, say a coffee shop, it will be wise to accept Bitcoins as payment aside from physical money. You can install a QR code in your counter so customers can easily scan and send payments. You can also give your secured address where they can send the payment.
For online stores, you can use Dwolla, CoinBase, or BitPay on the payment page of our Shopify plugin. This might entail a bit of technicality on your end so you can just include your secured wallet address and figure out a way on how you can verify this before shipping the product or giving the service.
5. You can ask for Bitcoin donations
Sites like zycrypto ask its visitors to leave Bitcoin donations if they like their news content. If you have a blog or any website, you can do the same by including a secured wallet address on the static page. You should also generate a QR code to make it easy for your visitors or customers to send a donation if they want to.
As long as you’re reasonable and provide awesome content or service, an investor or two will send a donation in a day. I think this will be a motivation to start working to increase the visitors of your website. This will be a testament as to why Bitcoin is the best crypto investment.
6. Invest on “interest-bearing” sites
This is one of the easiest ways to earn passive gains on your speculative investment. Sites like Poloniex will offer you to let their team handle a part of your Bitcoin assets to grow it. They will give you between 0.01% to 0.1% interest rate depending on the volatility. This is better than none and if you have idle units, you should consider lending them some.
Just keep in mind that Poloniex will charge you with 15% for service fees. Anyway, other exchange platforms and sites offer this service. They might be offering lower service fees so you better research well.
7. Try investing in ICOs
Funding new cryptos ICO can be a good idea if the public perception is gearing towards high sales. Some investments will only take a fraction of a Bitcoin and you can always choose what amount you’re going to risk in. Like any other investments, ICOs can either fail or succeed. Just invest what you can afford losing and if you’re lucky, you can make a great deal of money out of it to buy more Bitcoins.
ICOs are just new investment ventures in the crypto world so remember to proceed with caution. They have similarities with an IPO but offer other “unique risks”. You know why Bitcoin is the best crypto investment, but you should know that it’s equally risky.
8. Work in exchange for Bitcoin
This will be a convenient one if you’re working on the web. Doing freelance work for someone like data encoding, web design, or content writing can be in exchange for Bitcoins. That’s if you’re potential clients are using Bitcoins. If you want, you can use this as a full-time source of income. However, you shouldn’t forget the risks that it entails.
You should only do this if your financial status is stable enough to survive dumps. If you’re just scraping day in and day out, don’t ever risk your daily grind here. Don’t quit your day job either so you won’t end up selling all your Bitcoins for sustenance.
9. Exploit Bitcoin dust-offering sites
This tip isn’t a one-time-big-time hit, but will definitely add a little on your investment. Some gaming sites offer to pay you about $0.0001 worth of Bitcoins every five minutes that you stay on their page. This is a meager gain; still, it’s an addition to your investment.
Most of the time, you need to have zero balance before you can gain more Bitcoins in the process. So transfer the day’s small earnings before proceeding on it again. Later on, you’ll learn more about these Bitcoin faucets and why Bitcoin is the best crypto investment.
10. Try Bitcoin faucets
Bitcoin faucets are indeed what it states. But it doesn’t mean that you’re going to have a steady and good flow of Bitcoins here. What site owners don’t tell you is that there are faucets but almost closed that you can only earn a few drops.
Like what I said, it’s better than nothing. Gambling sites, FunFair, for example, offers to pay you FUN tokens once you win in their casino games. In short, you can invest on gambling. FUN trades at $0.02 dollars a token and it will be a low-risk investment. Play on this and if you start having gains, funnel the amount to your Bitcoin investments.
There’s no easy way to get Bitcoins but there are some that only requires your common sense. If you’re serious about expanding your speculative investments, I suggest that you try these tips with enough caution.
Many crypto geeks had already stated the answer as to why Bitcoin is the best crypto investment. However, only a few can answer the question about how you can triple or even quadruple your crypto assets.
Do you find these tips helpful? Let us know in the comment section!