How to Make Extra Income with Bitcoin
If you’re new to Bitcoin, you’ve most likely heard so many theories about how people have made life-changing amounts of money selling Bitcoin and other coins. But while a lot of money has been made, a lot has also been lost. We always encourage our users to trade only what they can afford to lose.
One of the most sought-after questions that most new cryptocurrency users have is How to make a profit with Bitcoin. In this article, we will demonstrate how you can make a profit with bitcoin on the Yellow Card platform!
Before we dive in, if you haven't already, create an account with Yellow Card.
If you have, let's make some money.
1. Referrals
Yellow Card allows its users to make money simply by inviting people they know to use the Yellow Card. You get rewarded a 20% commission anytime the person you referred buys or sells Coins. It's that simple. Here's how it works: Hit up all your friends, family, and high-net-worth people you know. Tell them about Bitcoin, and then refer them to sign up on Yellow Card with your referral code. You earn anytime they buy. Light work!
2. Dollar Cost Averaging
Despite the beauty of Bitcoin and all the goodness it offers the world, Bitcoin and other coins have notoriously remained volatile.
But what if there was a way to buy Bitcoin and still make money, no matter the volatility?
Allow me to introduce you to dollar-cost averaging. In its simplest form, dollar-cost averaging involves buying fixed amounts of Bitcoin at regular intervals regardless of the price. Don't try to "time the market"; you won't always get lucky.
Buying Bitcoin regularly helps to reduce volatility. If the price of Bitcoin is jumping wildly, dollar-cost averaging over time will help reduce the effect volatility has on your initial cost basis. Dollar-cost averaging doesn't require tens of thousands of dollars every month. Setting money aside regularly and investing for your future is simply a commitment.
3. HODL Gang!
If you're a Game of Thrones fan, then you probably remember Hodor, the great giant. Remember how he died holding on to that door that earned him the name "Hodor" and subsequently killed him? Yes, I know we all wept at that scene.
The point is, that is precisely how you should Hold on to your Bitcoin. "Hodl" means "Hold On for your Dear Life."
The strategy is simple. Buy Bitcoin. Forget it exists. Watch its price soar to the moon. Sell it back to Yellow Card. Walk away a millionaire. Rinse and repeat.
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