Topic: Is it better to focus on one or more ways to earn Bitcoin? (Read 213 times)

Outside di forum, even for our personal hustle, e good make person get multiple streams of income to make sure say there's steady cash inflow. Using di signature campaign as di only source of getting Bitcoin no really make sense, na good idea for persons to look beyond di signature campaign earnings to take hold body. Oda means dey to take get Bitcoin like art contest, pizza contest, campaign reviews, faucets, mining, freelancing, sport betting and trading. Trading and sport betting dey very risky, I no go advise anybody to rush enter any of dem without di right skill set and proper knowledge.

As a person (i.e. Newbie or not), I can only advise you to focus on that which you think with your knowledge and finance you are capable of, because all things being said, there are several other ways to earn money through Bitcoin, such as;
1. Earning/making money through Mining
2. Earning through referral (i.e Getting a commission through referral link on exchange or casino)
3. Earning through faucet (i.e the oldest means)
4. Earning through freelancing
5. Earning through Signature/bounty campaign, e.t.c

Because, the more knowledgable you are to that which you intend to focus on, the more likely you are to avoid losing funds due to lack of knowledge & systematic approach. So as a newbie, it's better to buy and hold, then learn any other of your interest.

No offense, but I always see people who are into Bitcoin trading as people who are eating future rewards ( again, no offense). Bitcoin is an asset, literally, and you need to learn to keep it, hodl it, beginner or no beginner. But as Op said, "It all boils down to your goals and capabilities".
Earning Bitcoin is not that much of a difficult task on platforms where one can earn, especially faucets, but most of them are limited, and countries like ours can't easily earn or get access to them. So, the forum campaigns are really the best I've seen so far, even if it's not all that easy. And earning Bitcoin is according to your capabilities, if you're able to earn from more than one platform, then I suggest you do.

Ways of earning bitcoin plenty but na those two way you talk so na him popular pass. I just want make everybody know say we no need to reduce our earning chances but e get some wey be say we need to dey dey mindful of how we engage in dem because dem fit broke use asap if you no dey careful and dat one na trading. Newbies dem wey just enter the industry supposed dey avoid trading until their hand dun strong well. The only time wey be say you fit be newbies for the crypto industry yet you fit still enter trading na when you get small idea already because no be your first time wey you dey enter any market but even as dat, u need dey careful and still commot time wey you go use do small practice before you put money dey trade. Dis market here no be anybody mate and if we dey do like we too sabi, the market go loyal you.

Some ways of earning bitcoin wey I fit recall na;

• Mining
• Trading
• Bug finding/Bounties
• Work and get paid in Bitcoin (using your skills to get paid in Bitcoin)
• Holding etc.

If dis advice na based on this your thread then you dey correct but if you dey try advice generally to only focus on one I no go agree. Make we avoid trading unless we good for the markets but you dey see the other ways to earn Bitcoin, if you get the privilege to sabi dem, no use dem play but do dem so you go increase the opportunity to earn more Bitcoin. If you good for bug finds or bounties (wey project dey pay when you find fault for their code) do am and if you get better online skills like you be programmer, code or self ur human communication skills na die abeg make u no fail to apply for any online job wey dem go dey pay you.

Which ever ways is actually better in as much something is coming out from it then we should at least give attention to them all, if you noticed that trading is more better then do it and also trying to hodl as well this could position you in a better chance to earn more higher than ever.
You know there are times we might think diversify our thoughts and ways of investment is bad but sincerely speaking nothing is wrong while trying to practice ways to earn but what matters is the better one that could give you something meaningful at end of the day, week or months per say at least nothing gives joy than working and seeing your money.

If you are a beginner, it’s really risky for you to start trading. If you want to be a trader as a beginner, then you should be ready to learn. When you learn how to trade, you are definitely going to lose, so you have to be ready for that, and you will be ready for constant learning and practicing. I don’t discourage any beginner that wants to start trading from doing that, I will just tell them the necessary things that I think they should know. Every professional trader was once a beginner.

As a beginner, it’s better to start with just one. After you see how things work and have knowledge about what you are into, you can decide to involve yourself in other things. If you are a beginner and you are planning to choose between trading or hodling, then I will rather tell you to start with hodling because I know the risk involved can’t be compared to trading, and I won’t recommend you start the two at once.

Bitcoin trading is very risky and therefore it requires someone to some basic knowledge and understanding about Bitcoin itself and how it works, then also understanding of bitcoin and cryptocurrency market before starting cryptocurrency trading, as a result of that, beginners need to take their time and learn before they venture into trading, instead they should learn and understand the basics of bitcoin, blockchain technology, keys and address, how to buy and how to sell bitcoin then buy bitcoin with the money they can afford to lose and preferably use the DCA method of buying, then keep holding the bitcoin until you get appropriate knowledge about trading before start to trade due how risky it is.

There are different ways one can acquire bitcoin even in the forum. Apart from signature campaign, you fit get bitcoin by participating in art contest, review works and quiz etc. The hodling of bitcoin is not meant only for newbies but also to other ranks. Trading and mining can give you bitcoin every day if you are good in them.

As a beginner if you can diversify your investment and you have the funds to do that, you dont have to waste your time oh, just do am and make u no go stay for one place dey suffer. Mining bitcoin has more risk than trading. If I will advise, it is better to invest in more and earn bitcoin than to focus on only one line of investment.

OP, you have said the answer to your question already. Newbie should only invest and hodli bitcoin for the main time, and he he has understood the technical analysis and fundamental analysis with risk management, that person can decide to start trading, because trading is very risky and it is similar to gambling. Trading no easy as we dey think say e be and if you no know anything inside you go troway your finds. Investment na the best and another good way to make profit from am, if you use better money invest and wait till the price of bitcoin reach bull market, it is an easy practise, when you only invest with money wey you no go need to use do inportant things.

I no go accept this one wey you talk bros, because no expert trader go trade dey make loss all the time go say him na expert, and he go run leave the business, because nothing come out but loss. Expert traders also make loss but they make more profit than loss due to their knowledge of understanding the market.

I no fit help but agree with most members on dis thread say holding na di easiest way to earn bitcoin, because di risk de very minimal. You go just invest and de monitor when di market go de favourable for you to sell your bitcoin, you no go too much need di knowledge of di technicalities wey de inside. Whereas you fit make profit faster for bitcoin trading, but di risk be say you fit lose all your money too, because of di volatility of bitcoin. So e depend on di decision and accurate knowledge of di person, weda im fit to take di risk of engaging in more dan one way of bitcoin earning.

Dis bitcointalk forum na one sure way to earn bitcoin, because as members de engage for discussions and de make meaningful contributions, na so dem go de rank up and de earn bitcoin tru signature campaigns. Also if you be business person wey de accept bitcoin as payments, dat na anoda wey to de earn in bitcoin, because if your customers pay you in bitcoin, and after dat di price come apreciate, dat na gain for you also.

You can't actually earn bitcoins through HODLing. If you own 1 BTC now, you will always own 1 BTC no matter how long you HODL it. I recommend looking into other ways to earn bitcoins, such as offering your services or products in exchange for BTC. This is the most reliable method for earning bitcoins.

For me, if there were a thousand ways to earn Bitcoin, I did happily explore them all, in the end, the one goal always is to earn as much Bitcoins as possible in the shortest period of time, which also means more money in the pocket ..

But yeah. I agree with the op, this space can be really risky most especially for newbies, those who are new to Bitcoin are just gonna have to take everything a step at a time, trying to get everything on track at the beginning can be very detrimental to ones finance, so to better manage ones risk, one should only engage in the means of earning Bitcoin they are sure works well for them .

The first ones that I tried were airdrops and pay-to-click. They all did not make me any profit. If I had not tried to look for other means, it would not have been better the way it is today. Bitcointalk was the forth that I tried out and it has been the highest paying one for me today. It is good to diversify. You can not rely on one. Another one I think people can make money from is holding, it is worth trying. Trading is risky, but if you are using small amount of money with it and if you have learned about it very well, it might worth it, but if someone is greedy, the losses would be like gambling. Do not forget that bitcoin and other crypto to naira and vice versa P2P arbitraging on different exchanges is still part of it.

As you noted, bitcoin trading is extremely risky, which is why I've always said that it's best left to experts who are familiar with the market and have knowledge of trading strategies; however, for a beginner like us who is just getting started, if they focus on trading in their early days without first gaining knowledge and experience about trading, they may end up following signals that cause them to lose money because they lack experience and the fundamental knowledge about trading.

A beginner with a passion for bitcoin should, in my opinion, begin by holding bitcoin; if they decide to get involved in trading, they should learn while still holding bitcoin; once they have the desired level of knowledge, they can start trading as well, but combining the two at once is very risky.

Firstly, I usually don't advice anyone to go into trading. That simple because even the so called experts experience loss all the time. If someone wants to make profits from his Bitcoin they should hodl. When there's a bull, simple withdraw their profits and leave the capitals. Trading puts your funds at a potential risk and if you don't know how to go about it, you will definitely loss your Capital. And yes there are other ways to earn Bitcoin but we should all be aware that the best way is to hodl.


Do you mean signature campaigns? A lot of people here before joining Bitcointalk all ready acquired Bitcoins as at then when it's price was still very low. Some of them don't bother joining the signature campaigns because they don't see it useful to them. It's cool how alot of us earn Bitcoin through these campaigns though and I don't think I have seen another website that pays it's members Bitcoin for freelancing just as you said.

The two most common ways people earn money through bitcoin is either trading or hodling, I know its advisable for beginners to HODL but there are still others who are have been successful in trading though its has more risks comparably to hodling bitcoin, while others earn bitcoin through Freelancing like we see here.

Some are into either 2 or more ways of earning bitcoin but this takes more of time and effort to device a strategy that works since attention is divided While those who focus on one way has a better chance of earning higher and becoming knowledgeable in that field but this constrains you to one field.

As a beginner, it's advisable to stick with one for starters as time goes by, you become experienced with the market, then you can try other methods. Though hodling bitcoin has a lesser risk than trading but its all boils down to your goals and capabilites.

  What do you think? Is it better to focus on one or more ways to earn Bitcoin?