How to make money off bitcoin

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Bitcoin is a digital and global money system (currency). It allows people to send or receive money across the internet; even to someone they don’t know or don’t trust. Money can be exchanged without being linked to a real identity. The mathematical field of cryptography is the basis for Bitcoin’s security. 

For supported countries and payment methods, you can sell or cash out your bitcoin or other digital currency for your local currency. And have the proceeds deposited in your linked bank account or local currency wallet. 

Sell Bitcoins for Cash Online through a direct sale. Services like LocalBitcoins can help you accept cash payments for bitcoin online. You can register as a seller on these platforms and you create a sell order on one of the sites. Interested parties will contact you if they like your price. Once a buyer accepts your offer, they’re given your bank account details. 

Transactions are usually done via deposits or wires to your bank account, after which you’re expected to transfer the agreed amount of bitcoin to the specified address. 

Or you can trade Arbitrage and margin trading is widely available. Therefore, many people can make money trading bitcoins. Each time Bitcoin’s price rises, new investors and speculators want their share of profits. Because Bitcoin is global and easy to send anywhere, trading bitcoin is simple. 

Bitcoins can be bought and traded on exchanges like Coinbase, which have become the pre-eminent market for the cryptocurrency. The number of Coinbase accounts grew, with new customers joining a day. 

Also to convert Bitcoin into cash, look for a Bitcoin exchange that will allow you to sell your Bitcoin at a reasonable price, for your preferred local currency (such as rand, pesos, dollars, or euros). This depends on whether or not the exchange supports your preferred currency, and your preferred method of receiving your cash. 

 

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