There are so many ways:
1. Trade BTC like other currencies - Not very consistent results and highly volatile. Market behaviour not stabilised.
this is the best option for earning money with bitcoin and it is getting better and better each day as the unpredictable swings are happening less.
2. Loaning Bitcoin - Earn huge interest - Chances of fraud
this is risky but you can reduce the risk to nearly zero risk if you take a valid collateral from the person you are loaning bitcoin to, and also use escrow for everything.
and the interest is decent not huge.
3. Bitcoin Faucets - Pure Gambling. Very very Risky.
there is no risk in using faucets and it has nothing to do with gambling!
it is pure waste of time though because the payment is pathetically low.
4. Start your own Exchange - Highly profitable. Huge Investment required.
generally starting your own business is the most profitable and also can be the most losing decision anybody can make.
it is good if you have some experience in the field and also if the market is not yet filled with numerous similar businesses. and if these two are the opposite it becomes the worst decision you can make with your money.
4. Cloud Mining - The best way to increase your money. No hassles. Legal, Authentic Cloud Mining Contracts available. Fixed returns as high as 10 % monthly on investment.
I don't know where have you been all these years but cloudmining has never been a good investment.
there are two types of cloudmining
1) Ponzi schemes: you lose money because they are scam and will run away with your money before you can reach ROI or even withdraw.
2) legit: they will pay a very tiny profit because they deduct a lot of fees for maintenance,.... so the profit is tiny. also these usually turn into scam because they can not support to pay out profit when themselves are earning a little.
I do agree on your step by step response. There are some things though:
1. Firstly, it is not mere "mining", it is "cloud mining".
2. Normally, Ponzi Schemes never setup their legitimate office openly. They never put up a communication medium other than just a website, an email and a phone number. Their company documents and legal business credentials are NEVER available for third party verification. We do not have the privilege to meet the company owner face to face. He never comes to the front and answer his investors' queries, doubts with a satisfactory answer. He will NEVER give you the answer as to how you can protect yourself if he goes bankrupt or fraud.
3. The company where i am running my cloud mining contracts right now has every thing in place. We have already tracked the company's legitimacy from all possible sources. He has an office setup in my country. He is available everytime whoever wants to meet and raise him queries.
4. He has a crystal clear vision of what he is going to do with investors' money in the coming days.
5. So in all possible ways, we have taken due diligence to satisfy ourselves about the trustworthiness of the company before investing our money.
6. Yes, the fact that MOST of them are PONZI SCHEMES is the bitter truth. In the end, nothing in this world is guaranteed. So, we have taken due care not to invest all our assets into the cloud mining business. With a calculated risk taken, i am really not in fear. Also
7. Yes, the payment is normally paid after deducting their own costs and their profit margin. But right now, i am getting a minimum of 10 % per month, while my local government banks pays me a pathetic 9.5 % annually. So, as you can see, i have already got my risk covered from the income so far with break-even within 5 months.
