Before launching into the ways you can earn Bitcoin and make money with Bitcoin, it’s important to take a realistic view of how much money you could make. Though there is certainly a huge amount of money to be made in this market, many of the beginner-friendly ways of earning Bitcoin will only result in small amounts. Don’t get discouraged, though. Even small amounts of Bitcoin can be useful assets, especially given the current rapid growth of the value of the cryptocurrency. If you want to accumulate larger sums of Bitcoin, that’s also entirely possible.
It will, however, require an initial investment that may not be easy for you to afford. With that out of the way, let’s begin exploring the different ways in which you can start making money with Bitcoin.
If you want to put together the largest possible amount of Bitcoin, mining is among your best options. Mining refers to the use of computer hardware to automatically perform a set of mathematical operations, which in turn creates new Bitcoin. The way Bitcoin is set up, only 21 million can ever be produced. At the time of writing this article, about 16.7 million of these Bitcoins have been successfully mined, leaving more than four million on the table for Bitcoin miners.
One thing you will need to know about Bitcoin mining before getting into it is that the difficulty increases over time. In other words, it will take more time and more computing power to generate each subsequent Bitcoin. In the early days of Bitcoin, cryptocurrency enthusiasts were able to use graphics processing units on regular computers for their mining. By now, however, the difficulty has gone up so much that much more specialized equipment is needed.