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How to Make Money with Bitcoin: An Ultimate Guide for Beginners

Although Bitcoin has been around for a while, there are still a lot of people who are not aware of its working. Ideally, it is one of the first cryptocurrencies that has been globally accepted and saw a rapid change in the last few years. Apart from mining, you can now also invest in Bitcoin or take part in its jackpots too. Since there can be different ways to use Bitcoin, you could find some smart techniques in this post that can help you make money using this cryptocurrency.

 

What you should know about Bitcoin?


Also known as the new kind of money, it is a payment network and is one of the most popular cryptocurrencies of the present time. It was originally released in 2009 and has been around for more than a decade. Unlike a centralized authority, there is no single unit controlling the currency. Instead, it has a peer-to-peer network in which network nodes authorize the payment by maintaining a shared ledger (known as blockchain). 

These days, Bitcoin can easily be converted into different currencies and a lot of products and services also support its payment. As of now, more than 5 million unique users have their Bitcoin wallets in the world.

 

Earn through Bitcoin Mining


The most standard way of earning via Bitcoin is through the mining process. In this, high-end computers are used to solve extremely complex mathematical problems. Just like a miner would work on striking gold, your computer would solve the problem for you. It might surprise you, but the probability of getting these problems solved is almost 1 in 13 trillion.

Therefore, if you have enough funds, you can set up an entire system for the mining process. Once the problem is solved on the Bitcoin network by your computer, it will yield new Bitcoin. Later, you can use its native payment network to export the mined Bitcoin to your wallet. Though, the process of Bitcoin mining takes a lot of time, investment, and can be risky.

 

Take Part in a Bitcoin Jackpot to Win Big


Since the process of Bitcoin mining is a bit risky, it’s a good idea to participate in a Bitcoin jackpot instead. For instance, you can bet on the outcome of a Bitcoin Jackpot by visiting Multilotto. It is a highly rewarding lottery with the present jackpot of Ƀ1,000.

 

1. It takes place every day (except Sunday) and the numbers drawn are based on Bonoloto, which is a popular Spanish lottery.

2. To get your line for this Bitcoin lottery, you can just head to the Multilotto website and select 6 numbers from the pool of 1 to 49. If you want, you can get multiple lines from here by selecting the numbers of your choice or using its random selector. The prize for 1 line is only €3 currently.

3. That’s it! Once you have your lines, you can wait for the results that are announced at 9.30 pm CET every day. You can check the results on the website or app of Multilotto and proceed to claim your prize.

 

Jackpot and winning odds

The overall amount for its jackpot keeps changing, depending on the present draw. The jackpot of the current draw is Ƀ1,000, which is equivalent to almost €9,920,585.

1. There are 5 different categories in which you can claim any prize. The jackpot can be claimed if all the 6 numbers of the draw match with your ticket. The probability of hitting the jackpot is 1 in 13,983,816 as of now.

2. Apart from that, you can claim prizes if 5, 4, 3, or even 2 numbers of the draw are matched in your ticket. The probability of winning the minimum amount (getting at least 2 numbers matched) is 1 in 8 presently.

 

Why should you bet on the outcome of Bitcoin Jackpot?

As you can see, the jackpot has such a highly rewarding amount and the price for getting a line is only €3. Therefore, the risk factor in the Bitcoin jackpot is pretty less. Also, you don’t have to invest a lot of money to earn money via Bitcoin. Unlike mining or investment that needs a lot of money to start with, this will only take a small amount. 

Besides that, you bet on the outcome of the Bitcoin jackpot from anywhere in the world and can easily claim your prize remotely with the assistance of Multilotto. Lastly, you don’t need to go through any unwanted hassle or understand the nitty-gritty of Bitcoin investment to earn big.

 

Consider Trading with Bitcoin (Needs Experience)


Another popular way of earning through Bitcoin is by doing trading. There are all kinds of ways in which we can trade Bitcoin. Firstly, you can do Bitcoin to Bitcoin trading. It simply means you can buy Bitcoin when it is running at a low price index and sell it once its valuation rises.

Also, you can trade between Bitcoin and other currencies. You might already know that there are plenty of cryptocurrencies out there like Litecoin, Ripple, Ethereum, and so on. You can also convert Bitcoin to and from these currencies and trade your assets to gain profit in the process.

 

Invest in Bitcoin


This is something that most of people do who don’t have time to do its trading and being updated with the Bitcoin price index. You can just take any amount of your choice and buy Bitcoin for that. Later, you can keep them secure in any digital wallet for a while. Once you know the valuation of Bitcoin rises, you can simply convert them to your local currency. This is just like investing your money in any other asset that you think would improve its value over time.

 

Try your Luck in Bitcoin Faucets


Lastly, if you have enough time, then you can try some Bitcoin Faucets to earn free rewards. There are some popular apps and websites that would give you certain rewards in the form of Bitcoin when you complete tasks (like filling forms or completing captcha codes). Mostly, by completing a task, you can get rewards in Satoshi (equivalent to a hundredth of a millionth part of a Bitcoin).

That’s a wrap, everyone! I’m sure that after getting to know these options, you would be able to earn big through Bitcoin. Apart from investing or mining Bitcoin, you can also consider trying your luck in a Bitcoin jackpot. Explore the Bitcoin jackpot hosted by Multilotto. By investing a small amount, you can also try your luck in this lottery and end up winning big!

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